walt-clark.bsky.social
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I’ll take it one step further. It functions similarly to every other type of insurance we have (ex using actuarial tables). I don’t hear the calls to not buy life insurance or car insurance and instead invest in personal savings account.
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It’s giving this energy youtu.be/GzRtZ6pWYw8?...
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Bryan Cranston did a great job on the broadway version a couple of years ago.
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I did a comparison course in college on the Roman Empire and the British Raj and my final paper was on how much (or not) religiosity was a driver for armies. A lot of British military supply documents on the sheer amount of brandy consumed by units was impressive. For god and country not so much.
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The fund was created because there was a known actuarial shortfall coming with the baby boomers. The fund was a fix for a few decades but the problem needed to be addressed in the future. Congress like always has been too incompetent to address it.
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This is a bit of misnomer. Social security trust is limited in what it can invest in so it has typically bought treasury bonds. Because of this the fund has actually for many years earned billions in interest. So the fund hasnt been depleted because of GOP taking money out. It’s been a known issue.