Social Security Growth
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George - No doubt they’d get better returns my fear is the government would use what would become very large positions in major corporations as additional leverage over them to implement their social and economic policies. What’s worse is the leverage would be administrative in nature so not subject to legislative veto points.
This happens today with state pension funds but the scale of influence would be altogether different.
Norway, Saudi Arabia and a number of gulf states have sovereign wealth funds but they don’t really have the influence in US markets of the kind I fear.
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Careful what you wish for. Do you really want the SSA to own trillions of dollars of stocks?
How might Senator Warren make use of that?
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I still support the Bush era idea that a portion could be put into a fund of your preference.
@lufins-dad It's just the administration of it that becomes complex. Which is probably a lot more solvable these days with software systems.
I'd think the vast majority of those actively plan for retirement would want this.
It does create a new vector of inequality - because people who aren't educated on these things will miss out on gains. But them be the breaks.
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@lufins-dad It's just the administration of it that becomes complex. Which is probably a lot more solvable these days with software systems.
I'd think the vast majority of those actively plan for retirement would want this.
It does create a new vector of inequality - because people who aren't educated on these things will miss out on gains. But them be the breaks.
@xenon said in Social Security Growth:
@lufins-dad It's just the administration of it that becomes complex. Which is probably a lot more solvable these days with software systems.
I'd think the vast majority of those actively plan for retirement would want this.
It does create a new vector of inequality - because people who aren't educated on these things will miss out on gains. But them be the breaks.
I would keep the options very limited. An extremely stable fund, a moderate risk fund, and a moderately high risk fund. The fund managers would be an outside firm, contracts running every 24 month with renewal awards based on past success and costs...
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Much of the problem is that...
- Social Security should never be paid to an illegal alien.
- SSI rules and compliance should be tightened.
- People should be educated at an early age, that Social Security us not, and was never ment to be, a person's entire retirement. It is meant to be a supplement.
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Much of the problem is that...
- Social Security should never be paid to an illegal alien.
- SSI rules and compliance should be tightened.
- People should be educated at an early age, that Social Security us not, and was never ment to be, a person's entire retirement. It is meant to be a supplement.
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@jolly 1. isn't a problem. you don't get SS without an SSN and you don't get an SSN as an illegal alien.
@jon-nyc said in Social Security Growth:
@jolly 1. isn't a problem. you don't get SS without an SSN and you don't get an SSN as an illegal alien.
I'll be the first to admit things change, but in the past it took just a few hours to get a Social Security card in some places down on the border. For one price, you could get a bogus card with a real number you could not collect on. For a higher price, you could get a card that you could collect on.
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
I don't know if this tactic still works, but it used to...
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@jon-nyc said in Social Security Growth:
@jolly 1. isn't a problem. you don't get SS without an SSN and you don't get an SSN as an illegal alien.
I'll be the first to admit things change, but in the past it took just a few hours to get a Social Security card in some places down on the border. For one price, you could get a bogus card with a real number you could not collect on. For a higher price, you could get a card that you could collect on.
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
I don't know if this tactic still works, but it used to...
@jolly said in Social Security Growth:
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
Very interesting. Do these people somehow have to not be reported as dead?
I'm guess social security has some sort of pretty defined mechanism to know when to stop paying payments to someone.
If there is a loophole (unreported dead people) - seems like there's some sort of criminal intermediary that makes a market for these.
Do you necessarily have to be an illegal alien to buy on that market?
Not asking you questions directly, Jolly. Just an interesting situation.
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@xenon said in Social Security Growth:
@jolly said in Social Security Growth:
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
Very interesting. Do these people somehow have to not be reported as dead?
I'm guess social security has some sort of pretty defined mechanism to know when to stop paying payments to someone.
If there is a loophole (unreported dead people) - seems like there's some sort of criminal intermediary that makes a market for these.
Do you necessarily have to be an illegal alien to buy on that market?
Not asking you questions directly, Jolly. Just an interesting situation.
After the last year, you still have hope of basic competency in the Federal Bureaucracy?
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@jolly said in Social Security Growth:
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
Very interesting. Do these people somehow have to not be reported as dead?
I'm guess social security has some sort of pretty defined mechanism to know when to stop paying payments to someone.
If there is a loophole (unreported dead people) - seems like there's some sort of criminal intermediary that makes a market for these.
Do you necessarily have to be an illegal alien to buy on that market?
Not asking you questions directly, Jolly. Just an interesting situation.
@xenon said in Social Security Growth:
@jolly said in Social Security Growth:
The procedure for a good number was to use the number of a deceased person who had never collected benefits and who had died.
Very interesting. Do these people somehow have to not be reported as dead?
I'm guess social security has some sort of pretty defined mechanism to know when to stop paying payments to someone.
If there is a loophole (unreported dead people) - seems like there's some sort of criminal intermediary that makes a market for these.
Do you necessarily have to be an illegal alien to buy on that market?
Not asking you questions directly, Jolly. Just an interesting situation.
Criminal?
Nah. The cartels would never do anything criminal...
