Comments by "TeeKay" (@teekay_1) on "'It's All A Scam': Tommy Tuberville Lets Loose On Social Security And Government Spending" video.

It was never really been optional for most workers; that seems to be a common myth that was circulating around for approximately since it was started. There were exemptions from social security for certain government jobs (federal & local), but they had a parallel pension system that wasn't voluntary. Some Unions were given exemptions as well, but again, they were required to take money from workers and create the equivalent of a pension.
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@heidiw8406 I'm sure you're correct. My larger point is that for most people it was never voluntary. It can't be or else the system collapses even faster.
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@heidiw8406 Still, 65 is still pretty old. For most people they'll only live another 10 years after that.
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We clearly need a transition strategy that gets us from an unsustainable program to a more sustainable program. We can't keep pushing debt on our great grandchildren
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Where did all the money go that nobody ever collected? That's how Bill Clinton "balanced" the budget in the 1990's. It was an accounting trick. He took the Social Security Trust fund and lumped it in with general revenue.
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@heidiw8406 Railroad workers pay in even more. In addition to social security, they also have to pay 5% railroad retirement out of their paycheck. Yes, they get an additional amount in their check when they retire.
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@heidiw8406 Somehow my reply never took. Railroad workers pay social security plus an additional 5% of their gross pay, although those people will get additional money in their monthly check based on years of service.
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@Kerfuffled569 I agree that the # of baby boomers are stressing the system, but keep in mind that if they raise rates on our children and grandchildren, those rates will never come down. I've always wondered by the government doesn't push savings bonds anymore to pay down the debt. Offer US citizens the opportunity to buy US debt with a guaranteed 5% return over 20 years. We could retire the debt very quickly that way and have enough left over to fund social security. Of course, the politicians would end up spending the money on another war, or giving it away to big companies, so perhaps that isn't the best idea.
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The problem with her suggestion is that once the middle class realizes they get fewer benefits from Social Security despite paying the most in, it will end within 5 years.
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