What happens to 20-somethings when Social Security runs out of money?

Question

Given that we keep hearing about Social Security heading for bankruptcy, I can't help but wonder -- what will happen to all that money that gets docked from my paycheck every week? SS will be gone long before I'm old enough to cash in, so where will all my money go?

Answer 1

Your hard earned money is funding the war and not going into any account for your Social Security funding any more.
This is why it's going bankrupt because it's costing each and every hard working American their future and then some too. We have one person to thank for all of this too and he's the idiot in office who thinks he has every right to ruin everyone's future by declaring his war just to steal another countries oil and to hold us hostage to it too. Yes we are all hostages of war here as well as everyone in every country that Bush has decided to do his best to control.
We as hard working Americans who pay taxes and work to build this country into a better place to live and raise our families are without any future now thanks to Bush and I do mean Bush.
As long as Bush's war continues as it is and has been then we can kiss our Social Security good bye for ever.

Answer 2

You don't get paid.

Social Security is a Ponzi Scheme. Where have you been? My money pays current recipients and any surplus is spent and replaced with more government borrowing (Thank you Congress). I wish all the Democrats would get that through their thick skulls.

SOCIAL SECURITY IS A PONZI SCHEME. THERE IS NO TRUST FUND, THERE IS NO SURPLUS, THERE IS NO WAY THE CURRENT SYSTEM CAN AVOID COLLAPSE, SO PREPARE FOR A NASTY AWAKENING DURING THE BABY BOOMER RETIREMENT YEARS. (That does not include the impending fiscal disaster associated with Medicare, Medicaid, and our endless list of lovely entitlement programs.)

Good luck younger generations.

Answer 3

its not the problem of it running out but the inflation that is required to keep it going .
Think about this for just a minute .
We have 150,000,000 working americans all contributing 7.5% matched by the boss .The average income is 30,000 a year so 7.5% is $2,250.00 matched by your boss so the average amount collected is $5000.00 .
Now that looks like about 7,500,000,000,000.dollars each year .does this remind you of another figure .Maybe the amount of money we spent in total for all government sevices .What we have been doing is paying out of socialsecutity for other projects it started in the 60's and has gotten worse every decade .
The real problem is how old you will need to be or what % they will collect to keep it going .
If you do not believe you live in a socialist country look again at the numbers of party workers that make over 30,000 per year verses those who make less .
Lets see we have around 10% millionaires and 90% workers .
That means ten of us work to make one man rich .And if you consider that with a hundred workers a single family of ten controls them you can begin to ssee the bigger picture .10,000 workers 30,000 workers 100,000 workers or what is it walmart has around 300,000 workers and is americas single largest employer .Making the walmart family billionaires .
Now i am not a communist but i do think that anything over a billion should be taxed at 99% sorry that still leaves them a billion and 1 million to spend .how does one spend a billion dollars .Go with me for a minute on this .At 3% intrest that billion makes 30 million dollars .the best food in the world sells for 200 dollars a pound and you can wash it down with a 5000 dollar bottle of wine every meal three times a day thats with services around 8,000 per day per person .a family of 6 could spend 50,000 per day
365 times 50,000 is 18,000,000.This is no doubt excessive but it still leaves 12 million to spend .10,000 a month for electric to handle this mansion .12,000 for servents and help each month thats 500 a week for six servents so the y need a break every 8 hours so lets triple this amount and make it 36,000 on servents each month .So we are around what 60,000 a month .Lets toss in another 40,000 a month and make it 100,000 a month on exspenses .That makes it what 1.2 million a year wow i thought i could chip away at the remaining 18,000,000 .
So we are down to 15,000,000 million left lets take a vacation and spend 3000 a day for a place to stay and lets vacation 6 months of the year .thats 182 days 546,000 ok double this amount 6000 a day and 365 days off each year that 3,000,000 or so .That leaves 10 million to go .And remember you still have a billion in the bank .
This is the reaon for an increase in taxes among the rich .!0 million a head would not hurt a bit .And remember the 25 people that work for them the 6 people we are taking care of and now consider each member of the family has 30 million to blow also .
I do not begrudge the rich anything but there is such a thing as to much money .No consider by rasing the price of a few items that sell 20,000,000 units 10 cents or so they could afford to provide medical coverage to every employee set up a retirement fund for everyone in the company .I am not worried about social security but i do worrie about the quality of life of those who must work to support such lavish lives for the privilaged 5% of billiomaires and 10% of millionaires in america .Nobody gets rich by themselves .

Answer 4

sue the government for spending your retirement fund.