McCain on social security

[SteveXD]

Originally Posted by lexington86

(too bad the market sucks right now...). If I didn't have to pay Social Security.

You should be happy that the markey sucks!!! You don't want the market to be up when you are paying into it Just think about all of those extra shares you are buying

[TaePo]

Also a part of the problem is our fiscal responsibility (government-wise).

For example, the extra tax on cigarettes for the added healthcare caused by smoking. It was an important issue and an expensive tax. But is that what it is being spent on? I think not.

Was not SS monies spent on roads and other infrastructure when it was needed? It was supposed to be put back but was it?

If they did not redirect the funds, and left a good principle amount, could the SS be self sustaining at some point. (principle + current pay ins)-payouts = surplus(interest)

I wonder.

If I ever hit it 'big' on a giant lotto, I would maybe garner 10% as mad money/spending spree, the rest goes into the bank and I would live off the interest from there.

We need to curb the tax for reason A and spend it on reason B; except dire emergencies.

[lexington86]

Originally Posted by SteveXD

You should be happy that the markey sucks!!! You don't want the market to be up when you are paying into it Just think about all of those extra shares you are buying

Very true. I just reallocated my 401k over the past few weeks. I sold all of my "doing well" securities and dumped them into mutuals with strong lifetime performance (4 to 5 Morningstar rating) that are currently down $10 to $20 from when the markets started to take a nosedive (most with above average to high risk). It's gonna take a while (5 to 10 years?) but once the market ramps up again (knock on wood) I'm hoping for big returns.

I'm only 22 so I have no problem absorbing lots of risk for very high potential returns.