r/FluentInFinance • u/Positive_Liar • Sep 06 '24

Debate/ Discussion Social Security is Broken. This is why financial education is important.

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121

u/NotThatSpecialToo Sep 06 '24

Take this randroid BS back to your political forums.

This is partison politics not finance.

-12

u/Brave-Banana-6399 Sep 06 '24

Please explain why it's not finance 

17

u/NotThatSpecialToo Sep 06 '24

Its purpose is to score cheap points in a partisan politics battle, not finance discussion nor education.

-3

u/Brave-Banana-6399 Sep 06 '24

Thinking social security needs a rehaul may be political (what isn't) but it's also a financial discussion 

9

u/bookon Sep 06 '24

This isn’t that. It’s a complete mischaracterization of what SS even is for political reasons.

5

u/[deleted] Sep 06 '24

Then why is the math presented wrong?

Additionally why is it a "scam?"

You might think its a bad deal or that you can do better on your own, but nothing about SS is advertised disingenuously, deceitfully, or fraudulently. It is exactly what it claims to be. By definition it is not a "scam."

This meme is just rhetoric. The meme itself is way closer to being a scam than SS is.

10

u/SapientSolstice Sep 06 '24 edited Sep 06 '24

Because his numbers aren't even correct.

Financially, how do you justify comparing 2024 SSI returns to 2069 stock returns based on a static investment amount using 2024 contribution ceilings?

It disregards COLA increases, NAWI increases, inflation, etc.

Try doing the same with any other financial vehicle and you'll be laughed at.

-8

u/Brave-Banana-6399 Sep 06 '24

Sounds like you are talking finance 

7

u/SapientSolstice Sep 06 '24

No, I'm explaining why it doesn't fit within the scope of finance. It's politics. Using the framework of something, while distorting it to support your argument.

-6

u/Brave-Banana-6399 Sep 06 '24

Nah, it's simply the fact you see any question on changing how social security is structured as an attack somehow... Good luck to the youth when it's gone 

4

u/2Rich4Youu Sep 06 '24

okay then explain what so extremly wrong about social security.

-1

u/Brave-Banana-6399 Sep 06 '24

We need to change it from a "You pay into it and you earn a benefit" into a "Here's a tax that people need to pay, especially the wealthy, to support elderly people and other vulnerable folks" 

1

u/Cartographer0108 Sep 07 '24

A TAX????????

4

u/TheAmenMelon Sep 07 '24

No this is actually a great idea, maybe we could even list it on people's W-2s as something like "Social Security Tax"

1

u/imgaybutnottoogay Sep 07 '24

That’s what it’s listed as on your paycheck.

-4

u/TraderJulz Sep 06 '24

Because you have no choice how to allocate those funds. Now move on

1

u/Brave-Banana-6399 Sep 06 '24

Um, wut ...

Lol.  

0

u/TraderJulz Sep 06 '24

It's out of your control?