Comments by "Kim O\x27Brien" (@kimobrien.) on "Social Security Recipients SCORE A WIN; COLA Forecasted To Go Up 3% In 2024" video.

  1.  @michaelmayo-vb5fl  You can't "save" for retirement because a working economy is about production for current needs and a surplus used to advance productivity. The idea that the working class needs to act like the capitalist class and "save for retirement" is totally bogus. Our labor produces more in value than we need to reproduce our labor for the next pay period. The reason the elderly and disabled can have an income is because the rest of us are working not because we need someone to put money in a bank account. The elderly and disabled will spend their Social Security money on necessities not luxuries, building up BiG bank accounts, stock buybacks, profits or increasing shareholder value. They waste tax dollars on things debt paybacks to the rich who lend money to the government instead of paying taxes, tax cuts to companies that boost profits and the military budget.
    1
  2.  @michaelmayo-vb5fl  Great kid now how long before you save enough to retire on? It will be hard but not impossible to calculate. Of course you'll need ti make a lot of assumptions about different things like not getting fired, the store not closing or burning down, not getting sick, the length of your lifespan, inflation ect. How about getting married and having kids think you can you figure out what that will cost also? Think you'll still have the same job next year or ten years from now? You realize that your Boss puts in an equivalent about of money into (FICA) Social Security Tax. If he didn't have to pay the tax. Do you think he would give you that extra money? Social Security has more in common with car insurance than a bank account. You pay in because you can't predict your individual future.
    1
  3.  @michaelmayo-vb5fl  The Social Security Tax began being collected in 1936 in 1940 the first retirement benefits were paid. Today almost everyone is covered by the retirement, disability and medicare for the elderly and disabled. Workers pay half the tax rate, employers the other half, and the self employed pay the full tax rate. The disability program also pays dependents and survivors.
    1