Louisiana issues statewide stay-at-home order to combat coronavirus spread

TheOak · 03-31-2020, 06:19 AM

Originally Posted by AsylumGuido

My mother and mother-in-law are both in their 80's. I just want everyone to be as smart and as safe as possible until most dangers subside. But, you are wrong about Social Security. It is not supported by taxes. It is supported by everything those of us have paid into it for most of our lives OUTSIDE of taxes. It is OUR money already allotted for return based entirely on what we paid into it.

Guido I’m being pragmatic not procedural, there are no certainties here and all the government has to do is borrow against SSI to deplete it.

However....

Let’s assume that during a global pandemic, 20% unemployment, a crippled economy and deprecated healthcare system someone says... No, Social Security is off limits. Once the government starts printing money and inflation out paces Covid-19 infection rates your whole social security check won’t buy a tic-tac.

And just like a Shamwow commercial ‘but wait, there is more’!

When the unemployment reaches unprecedented levels and SSI isn’t funded by workers the present generation drawing benefits will deplete it before I get to it even though I will have paid into it for 40 years... you don’t have to pay into SSI to get benefits.

03-31-2020, 06:19 AM	#1
TheOak 10000 POST CLUB Join Date: Dec 2009 Location: Cypress Tx. Posts: 19,043	Re: Louisiana issues statewide stay-at-home order to combat coronavirus spread Originally Posted by AsylumGuido My mother and mother-in-law are both in their 80's. I just want everyone to be as smart and as safe as possible until most dangers subside. But, you are wrong about Social Security. It is not supported by taxes. It is supported by everything those of us have paid into it for most of our lives OUTSIDE of taxes. It is OUR money already allotted for return based entirely on what we paid into it. Guido I’m being pragmatic not procedural, there are no certainties here and all the government has to do is borrow against SSI to deplete it. However.... Let’s assume that during a global pandemic, 20% unemployment, a crippled economy and deprecated healthcare system someone says... No, Social Security is off limits. Once the government starts printing money and inflation out paces Covid-19 infection rates your whole social security check won’t buy a tic-tac. And just like a Shamwow commercial ‘but wait, there is more’! When the unemployment reaches unprecedented levels and SSI isn’t funded by workers the present generation drawing benefits will deplete it before I get to it even though I will have paid into it for 40 years... you don’t have to pay into SSI to get benefits.
	It's not what you look at that matters, it's what you see. ~ Henry David Thoreau