Talk of The Villages Florida - View Single Post - Social Security is Not an Entitlement!!!
Thread: Social Security is Not an Entitlement!!!
View Single Post
 
Old 10-13-2011, 10:41 PM
Hal :-) Hal :-) is offline
Senior Member
Join Date: Jul 2010
Posts: 170
Thanks: 0
Thanked 0 Times in 0 Posts
Default
Quote:
Originally Posted by villagegolfer View Post
At this point, it's only an issue of overcharging. The program is actuarially sound, albeit with excess collections. For 75 years Social Security has covered all ongoing cost, plus additional to add to the Trust Fund. Ponzi, on the other hand, was running a revolving financial door. It's very different in my mind.

Again, I don't see any difference with other insurance programs. Auto insurance, medical insurance etc. The Insurance company collects premiums to pay claims every year. They're not taking your premium and investing for a future auto accident or health problem.

Without changes, in 30 years, SSA would only be able to pay 75% of promised benefit. Not to worry, changes will be made long before that.