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Their safety net is not provided by Washington State. They presumably worked the required number of quarters for their SS benefits, and played by the rules at
by a3n 11y ago
Their safety net is not provided by Washington State.
They presumably worked the required number of quarters for their SS benefits, and played by the rules at the time.
- owen_griffiths 11y agobut the rules don't work with people working for 10 years, and retiring for 60. of course this is not illegal, but such a life style choice would not be scalable.
- pkaye 11y agoIt is playing by the rules but if everyone did it, the whole SS benefit scheme will collapse.
- dsr_ 11y agoIt appears that you are misunderstanding Social Security, and you may think that the US federal government plays by the same set of fiscal rules that a household, a corporation or a state has to use. This article from the Washington Post can help: http://www.washingtonpost.com/blogs/fact-checker/wp/2014/01/08/social-security-a-guide-to-critical-questions/ http://www.washingtonpost.com/blogs/fact-checker/wp/2014/01/...
- pkaye 11y agoSo you are saying what I said is not true?
- pessimizer 11y agoI am. It sounds completely made up and has no references. I'm assuming it's based in "common sense." Your level of benefit is based on the average of how much you made (adjusted for inflation) during your best 35 years.
- pkaye 11y agoThen why do we need to continue contributing after working past 10 year if we already maxed out?
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- deleted 11y ago[deleted]
- _broody 11y agoThat article doesn't actually counter what the OP says. In fact it ends by stating that SS is being more strained and giving diminishing returns as time passes by, which sounds disturbingly like a ponzi scheme. It's unsustainable by design even without free-riders, much less with min-maxers gaming the system to not put anything in.
- chadzawistowski 11y agoI don't know why you think social security is necessarily unsustainable. It's been running a massive surplus since the 80s. Unfortunately it was borrowed from to finance wars in the middle east, but that's not a problem with social security. http://www.accuracy.org/release/social-security-has-a-large-and-growing-surplus/ http://www.accuracy.org/release/social-security-has-a-large-...
- hnnewguy 11y ago>It's been running a massive surplus since the 80s. When the boomers were in their prime earning years, supporting a smaller, aged cohort.
- pessimizer 11y ago>SS is being more strained What article did you read this in? >giving diminishing returns as time passes by You mean that we're choosing to pay less to SS beneficiaries? SS is not an investment vehicle. >It's unsustainable It's entirely sustainable. What article are you referring to here?
- wsc981 11y agoOr the rules will change, which I think is more likely to happen. I don't think the couple is doing anything bad / unethical.
- a3n 11y agoI seriously doubt that anywhere near "everyone" would do this. We're in absolutely no danger of most people not being wage slaves for life.