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JDPriestly

(57,936 posts)
16. So, if you can afford it, invest for yourself also.
Mon Jan 9, 2012, 05:44 AM
Jan 2012

Most people don't have any discretionary income to invest.

So, Social Security is their retirement.

Some put more into Social Security than they take out. This helps so many people.

Social Security is an essential program that helps to hold our society together.

It is not intended to be a personal investment.

I strongly support Social Security. Not everyone is brilliant enough to invest well. Older people are prime targets of investment scams and con artists. I had an elderly aunt who personally foiled a ring when she was in her 80s. I happen to be very proud of her. But she was extremely intelligent even at an advanced age. Most seniors are not so quick.

Further, who wants to have to watch the stock market or handle a small portfolio of investments (which no honest broker could afford to handle) when they are in their 80s or 90s? I know someone that age who dreads the arrival of her bank statement each month because just balancing that is a huge burden.

I'm retired. I rely on Social Security. It is an absolute necessity. Without it, young people would have to live with and support their parents. That would be much worse for most young families than is the cost of paying for other people's Social Security benefits.

Remember, those of us who are now on Social Security paid generously for our parents and our grandparents. It is the American way.

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Well, correct me if I'm wrong, but Tansy_Gold Dec 2011 #1
I own not one dime of government securities, which is how we finance the national debt. mbperrin Dec 2011 #2
Well, that's pretty much what I meant Tansy_Gold Dec 2011 #3
You've said it well, and flawlessly. mbperrin Dec 2011 #4
The Federal Government does not have to obtain money (American dollars) from any one. Sam1 Jan 2012 #6
Please cite the economist and formula that shows that government debt creates savings in the private mbperrin Jan 2012 #10
You have a degree in economics and have never heard (or studied) the chartalist perspective? jtuck004 Jan 2012 #18
I see now. It's the rather old fashioned notion that money is meant to be a store of value. mbperrin Jan 2012 #19
Yep, goods and services much more modern. Better go round up some goats jtuck004 Jan 2012 #20
Didn't read a word, did you? The money is a CLAIM for goods and services. mbperrin Jan 2012 #21
What really has value is human potential, not goods and services, and not jtuck004 Jan 2012 #22
I posted this in response to someone else. JDPriestly Jan 2012 #9
This is a little different because Tansy_Gold Jan 2012 #12
Money from the Social Security Trust Fund which was created because JDPriestly Jan 2012 #14
Exactly. And furthermore, Tansy_Gold Jan 2012 #15
So, if you can afford it, invest for yourself also. JDPriestly Jan 2012 #16
If you have paid your payroll taxes -- your Social Security taxes -- your old-aged JDPriestly Jan 2012 #8
I pay the Teacher Retirement System of Texas. mbperrin Jan 2012 #11
Repudiate the national debt and let the chips fall where they may. Or Blue Hen Buckeye Jan 2012 #5
I wonder what portion of the debt is owed to the Social Security Trust Fund. JDPriestly Jan 2012 #7
About 27-30% from memory dmallind Jan 2012 #13
SSA Trust fund = $2.6 trillion - total debt now over $15 trillion banned from Kos Jan 2012 #17
Latest Discussions»Issue Forums»Economy»Debt Is (Mostly) Money We...»Reply #16