Social Security headed for insolvency sooner than expected (1 Viewer)

[DaveXA]

Something worth keeping an eye on. Covid is pushing us closer to Social Security running out of money sooner than expected. Probably not too surprising, but I'll be 62 in 12 years. Pretty disturbing trend.

Social Security trust funds now projected to run out of money sooner than previously expected due to Covid, Treasury says

Social Security trust funds now projected to run out of money sooner than expected due to Covid, Treasury says

The financial outlook for Social Security and Medicare, two of the nation's preeminent safety net programs, has deteriorated over the past year due to Covid.

www.cnbc.com

 

[RobF]

A poor person, by definition, is not affluent. Where they live doesn't matter. If someone can make more from unemployment than working a job, that's a wage problem and not a complacency problem.

And it's not a disease like fibro. That's some real shirt that I've personally seen impact people, forcing early retirements because the chronic pain is difficult to manage.

Yes. Of course fibromyalgia exists in the rest of the world, and of course people who have it severely can't just carry on working however much they want to. For example, this article from the International Journal of Rheumatic Diseases outlines fibromyalgia experience in a rheumatology clinic in Nigeria, and notes that, "Twenty-one (18.4%) patients had changed or quit their jobs due to fibromyalgia."

I think there's a point where we really have to stop indulging all these unsourced and ill thought-out assertions. An assertion is not an argument.

 

[Paul]

I have no doubt there are people who are content to take government handouts. That said, the solution is to make minimum wages more profitable -- from a time/effort perspective -- than simply getting a welfare check.

The level at which you fix that wage is independent from the level of wages in other countries. It's not a race to the bottom of pure libertarianism. Also consider the prices of goods in third world countries (and even places like Russian and Brazil) are scaled down to account for those wages.

Wages are often related to supply and demand and productivity of the worker. The supply of workers is low and the demand is high. Click below to read article.

MSN

www.msn.com

The 15.00 dollar per hour wage the left wanted is happening because of market conditions and not because of charity or a bleeding heart. That is the way it should be.


Axios reports that one McDonald's in Arlington, Virginia, is offering a $500 sign-on bonus for new employees.

Wendy's is offering $100 signing and referral bonuses to new hires, in addition to same-day pay.

Chipotle is increasing the pay of restaurant workers to an average of $15 an hour.
If people working at McDonalds made a good living then many would not want to better themselves. The would become complacent. It is a delicate balance.

 

[Paul]

A poor person, by definition, is not affluent. Where they live doesn't matter. If someone can make more from unemployment than working a job, that's a wage problem and not a complacency problem.

A poor person that makes more money from not working that actually working lives in an affluent nation. The affluency of the poor person in the West is relative only to a person in a 3rd world country.

And it's not a disease like fibro. That's some real shirt that I've personally seen impact people, forcing early retirements because the chronic pain is difficult to manage.

It is a real disease, but people in 3rd world countries do not experience the illness as people in affluent nations.

 

[JRad]

If people working at McDonalds made a good living then many would not want to better themselves.

If $15/hr with no guaranteed hours is enough for someone to not better themselves, that’s on them. We apparently require people in those roles, so let the “unmotivated” (for lack of a better term) have them.

 

[Paul]

If $15/hr with no guaranteed hours is enough for someone to not better themselves, that’s on them. We apparently require people in those roles, so let the “unmotivated” (for lack of a better term) have them.

They will be replaced by automation. You sound libertarian!

 

[cuddlemonkey]

A poor person that makes more money from not working that actually working lives in an affluent nation. The affluency of the poor person in the West is relative only to a person in a 3rd world country.

It is a real disease, but people in 3rd world countries do not experience the illness as people in affluent nations.

You mean people who have less of a social safety net and fewer worker protections take less time off? Quelle surprise.

 

[Paul]

You mean people who have less of a social safety net and fewer worker protections take less time off? Quelle surprise.

Ah, the safety net!

OK
Humans exist in a spectrum of competency and talent. The talent can be anything from musical ability, sports, intelligence, artistry, etc. There is no equality and hence those at the bottom need support from those in the middle and the top. This works as longs the talent spread remains constant.

 

[MT15]

You realize what the word “ideal” means, specifically in your illustration? This isn’t a representation of fact, it’s the person who created the illustration’s idea of a desirable distribution.

 

[cuddlemonkey]

Ah, the safety net!

OK
Humans exist in a spectrum of competency and talent. The talent can be anything from musical ability, sports, intelligence, artistry, etc. There is no equality and hence those at the bottom need support from those in the middle and the top. This works as longs the talent spread remains constant.

Ah, the changing of the topic!

OK
None of what you said has anything to do with my post. You implied that workers in this country are lazy and take the easy way out when compared to workers in third-world countries without bothering to take into account worker protections (as it applies to taking time off/sick time) and access to comprehensive medical care (when it comes to diagnosing something as hard to diagnose as fibromyalgia). If you can't back up these positions with facts, the only alternative is that you're making shirt up.

 

[samiam5211]

Next Paul will be talking about how no one in Somalia has depression or ADHD.

 

[Paul]

Ah, the changing of the topic!

OK
None of what you said has anything to do with my post. You implied that workers in this country are lazy and take the easy way out when compared to workers in third-world countries without bothering to take into account worker protections (as it applies to taking time off/sick time) and access to comprehensive medical care (when it comes to diagnosing something as hard to diagnose as fibromyalgia). If you can't back up these positions with facts, the only alternative is that you're making shirt up.

No, I am not trying to change the subject. I bring the term spectrum of talent into the conversation because in any human endeavor you can think off there will be winners, losers, and a large average group in the middle. This may explain why we still have recalcitrant poverty. So there is more to the story than just not wanting to work for low wages or wanting to apply for disability which further depletes Social Security. In addition, there is likely a spectrum of work ethic among the population.

Hyper successful people tend to work much more. The person that is a workaholic is like a kid in a candy store in today's economy. Others, as you say refuse to work for low wages and prefer the government check. I believe it is all related.

 

[Paul]

Next Paul will be talking about how no one in Somalia has depression or ADHD.

Thank you for that question Sam:

Understanding the Basics of Depression

WebMD's guide to the types and prevalence of depression.

www.webmd.com

Depression rates around the world vary according to a nation's affluence, with the highest income countries -- including the U.S. -- reporting the highest levels of depression, a study shows.

The World Health Organization estimates that depression affects 121 million people worldwide. In the 10 higher income countries surveyed, an average of nearly 15% of the population had suffered from depression at least once in their lives. By contrast, people living in low to middle income countries reported an 11% likelihood of having had the disease.

At 19.2%, the U.S. had the second highest lifetime rate of depression. Only France, at 21%, had a greater frequency of the disease. Low to middle income countries, by contrast, reported much lower rates overall. China (6.5%) and Mexico (8%) had the smallest percentage of lifetime incidence of depression.

 

[MT15]

And another thread completely derailed, lol.

 

[cuddlemonkey]

No, I am not trying to change the subject. I bring the term spectrum of talent into the conversation because in any human endeavor you can think off there will be winners, losers, and a large average group in the middle. This may explain why we still have recalcitrant poverty. So there is more to the story than just not wanting to work for low wages or wanting to apply for disability which further depletes Social Security. In addition, there is likely a spectrum of work ethic among the population.

Hyper successful people tend to work much more. The person that is a workaholic is like a kid in a candy store in today's economy. Others, as you say refuse to work for low wages and prefer the government check. I believe it is all related.

You can believe what you want. It still has nothing to do with your implications regarding the American workforce and that of third-world countries.

 

[Saint by the Bay]

And another thread completely derailed, lol.

Every.Single.Time., and with the same repetitive nonsense. I'm just waiting for him to say if you just marry a white person and change your surname you can make more than $15 an hour.

 

[Paul]

You can believe what you want. It still has nothing to do with your implications regarding the American workforce and that of third-world countries.

OK, great!
All I have said is that poor people from 3rd world countries are likely more motivated to work than the poor in developed nations. The migrant workers to America are a good example. If you do not agree, that is fine.

 

[SaulGoodmanEsq]

If people working at McDonalds made a good living then many would not want to better themselves. The would become complacent. It is a delicate balance.

Sorry, had to -- great quote from a great movie that rings true. Someone has to do these jobs. I get there is an argument that McDonald's type jobs should be entry-level and people should move on from them but the reality is that isn't feasible for some people. Do truck drivers move on? I get that they are probably paid more based on seniority but the reality is driving a truck from point A to point B (in most cases) isn't going to fundamentally change.

I don't think there is anything wrong with America -- as a matter of social/moral policy -- deciding it wants to have a higher standard of living for its lowest income workers than Thailand. Then it becomes a matter of deciding what that standard is going to be. Clearly, though, there is a lot of nuance in a federally mandated minimum wage because a dollar in San Francisco doesn't go as far as a dollar in Broken Arrow, Oklahoma.

 

[DaveXA]

Sorry, had to -- great quote from a great movie that rings true. Someone has to do these jobs. I get there is an argument that McDonald's type jobs should be entry-level and people should move on from them but the reality is that isn't feasible for some people. Do truck drivers move on? I get that they are probably paid more based on seniority but the reality is driving a truck from point A to point B (in most cases) isn't going to fundamentally change.

I don't think there is anything wrong with America -- as a matter of social/moral policy -- deciding it wants to have a higher standard of living for its lowest income workers than Thailand. Then it becomes a matter of deciding what that standard is going to be. Clearly, though, there is a lot of nuance in a federally mandated minimum wage because a dollar in San Francisco doesn't go as far as a dollar in Broken Arrow, Oklahoma.

Just do it like the federal workforce. There are tiered salary and pay levels. A GS-15 in Lafayette doesn't get the same as a GS-15. The same should hold true for federal minimum wage rates. The minimum wage in DC would/should be much higher than the minimum wage in Jackson, Mississippi.

There's already a format they can follow. Just do that, and tie the federal minimum wage to inflation and call it a day.