General Discussion

Mike 03

(17,378 posts)

44. It's a terrible idea backed by a dishonest faith in markets

Wed Dec 4, 2024, 07:01 PM

Dec 4

A brutally honest investment advisor will always have this hard conversation with his clients, preparing them for difficult times. "One day you are going to wake up and the market will be down 30%" (to use one example).

You can't yoke the social safety net to something so precarious, especially at this moment in history when we are facing such vast geo-political, technological and environmental change and extreme unknowns--increasing conflict and nearly monthly natural disasters plus climate change that instead of preparing for or mitigating we have clearly decided to "wing it" and improvise as we burn up.

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cliffside travelingthrulife k55f5r

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Column: GOP and Musk unveil a threat to Social Security. [View all] JohnSJ Dec 4 OP

Kick dalton99a Dec 4 #1

They believe if it was put into the stock market at 18 jimfields33 Dec 4 #2

This message was self-deleted by its author Kingofalldems Dec 4 #15

They don't believe that at all. Kingofalldems Dec 4 #16

2008-2009 put the lie to that. lastlib Dec 4 #36

"...to do it well takes extensive knowledge and experience that cannot be acquired readily. " markodochartaigh Dec 4 #41

It's a terrible idea backed by a dishonest faith in markets Mike 03 Dec 4 #44

There will be a grey rebellion if they try to change or gut it. wnylib Dec 5 #57

It won't last long misanthrope Dec 5 #58

It's a bad idea to take away everything from an old person k55f5r Dec 5 #75

True that. I can think of possible fighting back scenarios wnylib Dec 5 #76

No. They believe that the financial firms drray23 Dec 4 #46

"Ha ha, Suckers." - G.O.P.'s Greatest Felon/Rapist BoRaGard Dec 4 #3

Allow me to translate "an outdated, mismanaged system." DJ Synikus Makisimus Dec 4 #4

"Medicare Advantage" plans were GeeDumbya's attempt to privatize Medicare. They are a rip-off. OMGWTF Dec 4 #24

My POV is that Medicare should cover everyone for everything. DJ Synikus Makisimus Dec 4 #29

Exactly right Farmer-Rick Dec 5 #65

Social Security seems very well managed. One of the last functional programs. travelingthrulife Dec 5 #72

Those young bros who voted for the orange Hitler 2.0 will end up having to care for their parents kimbutgar Dec 4 #5

Many of them rely on their parents to help pay their bills, or keep a roof over their head, or pay for internet connect. Timeflyer Dec 4 #10

yikes you know the movie set was set in 2022! kimbutgar Dec 4 #21

I somehow think Musk would have no issue with doing just that misanthrope Dec 5 #59

I actually like that soylent green solution. As long as it is a choice. travelingthrulife Dec 5 #73

They 100% are going to come for it Cosmocat Dec 4 #6

Senator Lee should come discuss his ideas in FL at the Villages. Timeflyer Dec 4 #7

I hate these assholes. My mom's only income in old age was Social Security. SunSeeker Dec 4 #8

"My mom's only income in old age was Social Security. jfz9580m Dec 4 #17

They will take it over time and disguise it Beachnutt Dec 4 #9

nope. it will be "ashock and awe" rampartd Dec 4 #13

You're more optimistic than I am Colorado Liberal Dec 4 #23

Same Horse with no Name Dec 4 #30

They will go after the payroll tax which funds SS. It is easy to get the rubes to travelingthrulife Dec 5 #74

65,000,000 Americans are on Social Security - Nigrum Cattus Dec 4 #11

the chileans who protested cancellation of their p[ensions were loaded onto helicopters. rampartd Dec 4 #14

And thank God Dem4life1234 Dec 4 #35

lasted 75 years in the soviet union rampartd Dec 4 #38

Ditto here Dave says Dec 4 #42

Same here without Medicare misanthrope Dec 5 #60

IF they did try to take Social Security, i'm thinking the possible and i say possible ONLY thing that will save it is bluestarone Dec 4 #31

Maggots on SS&SSI will be in for a rude awakening. Then they'll blame it on us with their dying foul breaths. NBachers Dec 4 #12

The question always seems to be these days, will we be inconvenienced? Magoo48 Dec 4 #18

when do they realise they cant mess w ss . they arnt intitlments they are paid for benigits AllaN01Bear Dec 4 #19

And don't forget: Boomers are a HUGE demographic group. calimary Dec 4 #22

yeppers , as i said in my prior post , theyd be in for it. no:) AllaN01Bear Dec 4 #26

They ARE entitlements Random Boomer Dec 4 #53

Social Securty deductions go into a trust fund. Beck23 Dec 4 #20

What's to stop them? Mariana Dec 4 #51

Anyone under the age of 50 has been programmed to believe SS will go away. SleeplessinSoCal Dec 4 #25

When are they going to threaten the military budget? Sneederbunk Dec 4 #27

FAFO at its finest - unfortunately that means the rest of us also find out. Bleacher Creature Dec 4 #28

, it was retweeted by Elon Musk, who has been vested by Trump .....to root out inefficiencies in the government Yo_Mama_Been_Loggin Dec 4 #32

F they can steal the Social Security funds for themselves, they will. Lonestarblue Dec 4 #33

When W tried DownriverDem Dec 4 #34

Although Reagan was able markodochartaigh Dec 4 #43

Trump's lies Re: protecting Social Security krkaufman Dec 4 #37

Look at it as an insurance program. Ferryboat Dec 4 #39

"a classic bait and switch" and "an outdated, mismanaged system" Mr.Bee Dec 4 #40

Reveals? JustAnotherGen Dec 4 #45

More disinformation from repub creeps. returnee Dec 4 #47

When all of the old people, with expensive meds, realize they are now doomed kwijybo Dec 4 #48

Republicans have been salivating over the Social Security trust fund for decades dlk Dec 4 #49

The major problem with this 'libertarian' view Abolishinist Dec 4 #50

Kick badhair77 Dec 4 #52

This means they dont care about re- election Figarosmom Dec 4 #54

Remember trump said... C Moon Dec 5 #63

Yep Figarosmom Dec 5 #77

This message was self-deleted by its author Chin music Dec 5 #55

Taxes and laws and regulations and moondust Dec 5 #56

I mean...the very existence of today's GOP is a threat to Social Security. Karasu Dec 5 #61

Why do right-wing idiots hate social security so much? I don't understand! C Moon Dec 5 #62

Is there a threadreader link to the whole thread? soandso Dec 5 #64

It is OUR fucking money. alarimer Dec 5 #66

and you can almost bet on it that most of the MSM won't be there to push back on that fact. JohnSJ Dec 5 #67

This message was self-deleted by its author Chin music Dec 5 #70

Senator Mike Lee (R-Utah) is... GiqueCee Dec 5 #68

Social Security benefits have lost around 36% of their purchasing power since 2000 augyboston Dec 5 #69

Greed of Musk and the GOP ers will do this first: SayItLoud Dec 5 #71