2/ One of the reasons I worked 2 jobs for most of the past 7 years was to pay down debt at triple speed and start saving. My plan/goal is that I live well if SS stays, but still live pretty darned decently if it goes away. (of course, if market collapses too ... life sucks)
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3/ And the chance of economic catastrophe in our lifetimes is pretty high. A doomer looks at this and says "so what even is the point? Just give up." Don't be a doomer. Preparation is always better than lack of preparation.
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4/ Strongly disagree. The Cathedral CREATED SS. The Cathedral WANTS people to believe in SS, need SS, and trust the SS promises. Cradle to grave welfare benefits creates a compliant citizen class that listens to, trusts, and obeys their lords.https://twitter.com/DylanTrout8/status/1354766367694663683 …
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5/ I agree with all of this. The reason to save for retirement today is not "you will starve to death when SS ends in 2049". It's instead "I'd rather spend 2049 fishing from my boat than spend it sneaking into barns to steal horse food".https://twitter.com/logosimian/status/1354767917460516864 …
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6/ I'm not a gold bug. I'd say: * live below your means * pay off debt * save, diversified in stocks and other assets * skills are always good; improve your earning powerhttps://twitter.com/TylerGroenendal/status/1354768525886369793 …
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7/ A financial collapse won't be "the end of late stage capitalism". It'll just be another 2008 or Black Tuesday of 1929. The system will continue, just folks will lose 30-50% of their assets.
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Uhh... The Cathedral has been trying to privatize or destroy SS for years.
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I don’t understand the article or the concern tbh. It seems like the concern is that under existing patterns the ‘trust fund’ will actuarially go to 0. Ok, maybe, and in that event, what would happen? SS stops sending checks, or Congress appropriates more money to it?
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I respect the political deviousness of the design of Social Security. It has a highly progressive benefit structure, but it's well concealed, so there's not the pressure to cut it like there's pressure to cut welfare for those who abuse the system.
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