Seniors organization digs in for fight over private Social Security accounts - In The News - Off Topics - Team Focus - Come On In And Enjoy The Company!
It sucks no matter what. The system sucks. Get rid of the whole deal. Lets bite the bullet now and not just drag it on. It was created to get the old folks out of the work force but I really don't see it as being necessary for that anymore. I'd like to see a poll of the amount of young people who actually plan on social security as being a source of income when they retire. I ain't very old but I'd rather have my $10k that I've given to the government for my ss taxes in my lifetime. So how much will I give during my lifetime? $100k if I keep earning the same as I do now? Geez! How much would I get back? $1300 a month? For what, 34 years if I live to 100? Hmmmm... It seems I don't quite get my buck back. So where is the rest going? And if that whole system is bleeding $8.5 billion in operating costs now then how much will it be in a couple years?
Yeah! Right! The reason it's unsustainable is because he's spending like a drunken sailor on the war. And what's left, he's giving to the wealthy and huge corporations who have no souls. They don't care if any lives or dies, as long as they're making $$$.
Bush "believes in solving problems, not passing them on to future generations."
Excuse me......................That's exactly what he's doing.
Hey..........I've got an idea.......How 'bout if we just euthanize everybody when they reach 60. They're old, can't think right, can't drive, and are generally a burden to society. Despite the money the government has been promising them for 75 years, those stupid lunkheads should've saved more money. They should've known it wasn't going to last.
As a matter of fact, we should probably do the same to deaf, blind, crippled, disabled, and mentally defective people. All they do is suck the blood out of the rest of us, who had the good sense to be born able bodied.
Oh wait...............That mentally defective part would include our President. Gee! What would we do without him?
____________________ If you can't read this, you're illiterate.
the rich can collect social security, but they don't have to pay into it if they make more than 90K a year. Sounds like a good plan to me. Here's a breakdown of what is causing these problems. Social security has run a surplus in it's account every year of its existence, however, the government borrows that surplus replacing it with treasury bonds (basically an IOU, except the I is a the same as the U, that's like borrowing money from yourself.). These treasury bonds are in essence worthless bits of paper. So far this hasn't been a problem, the problem starts when social security stops running a surplus. When that happens the government will have to make good on those worthless bits of paper it has been filling social security with, how do they do that, one of three ways, printing more money (that raises inflation), borrowing more money (that raises the national debt), or cutting benefits. The real problem with social security has less to do with the program which would work fine if the government hadn't been spending the surpluses all along. Since social security isn't included in the national budget (because it's an entitlement program and was supposed to be kept off the national books) anything that happens in its accounts doesn't show up in the national budget however, if you were to include the amount of money that the government borrowed from social security in the national budget, the actual debt for this year approaches 600 billion dollars and not the lower proposed 400 billion. Needless to say, the major issue with our economy right now is that we have both a president and a congress that are willing and able to spend far more money to pad their own pockets and agendas than the government can afford. A total lack of fiscal responsibility, and it starts at the top with Bush (and for all the Reaganomics lovers) and "trickles down" to every senator and representative in congress.
Great rant there Mr. V! Wow - didn't know you really had it in you there!
Joe - excellent information.
As far as operating costs for SSA - It has to be the number one most messed up government system I've every had the displeasure of dealing with. Mis-managed, uniformed, flip-flopping, poor record keeping & follow up.
I am paying back thousands paid to me from when I was temporarily disabled from my renal failure (ESRD is a coverable illness and qualifies a person to SSI payments). I was told THEY made an error and I have to pay for it. Nice how that works. Kicker there is 2 years later, after settling the "debt" they say I owe - I rec'd a check - yep, I got a check for $7 telling me that due to the cost of living I have had a benifit increase! A whopping $7 can you imagine???!!!
As for the fact that those who make over $90k not paying in - what makes them so damned special?!!! Just another example of how the finances in this country are balanced by the backs of Middle and lower incomed Americans!
I don't mind saying it, but I dislike BUSH a LOT!
____________________ Get in, Sit down, Shut up and HANG ON!
Chelly02 wrote: Great rant there Mr. V! Wow - didn't know you really had it in you there!
LOL! Little do you know. I've mellowed with age, but I can still rant with the very best of them.
As far as those making 90K+ not paying into FICA, I think that's not quite true. They pay in for the 1st 90K like anyone else, then are exempt for anything over 90. I could be wrong about that, but I'm pretty sure that's the way it works.
And Joe!!!! Jeeeeez! Did'ja have to mention Reaganomics? I'd almost forgotton about that fairy tale.
____________________ If you can't read this, you're illiterate.
Mr. Versatile wrote: Chelly02 wrote: Great rant there Mr. V! Wow - didn't know you really had it in you there!
LOL! Little do you know. I've mellowed with age, but I can still rant with the very best of them.
As far as those making 90K+ not paying into FICA, I think that's not quite true. They pay in for the 1st 90K like anyone else, then are exempt for anything over 90. I could be wrong about that, but I'm pretty sure that's the way it works.
And Joe!!!! Jeeeeez! Did'ja have to mention Reaganomics? I'd almost forgotton about that fairy tale.
You are correct Mr. V, that's what I meant to say, but only ended up getting about half of it out. They only pay in for the first 90K, however, they can still collect full benefits.
When baby boomers begin to retire, costs will rise and payouts will exceed revenue by 2019, projections show. The reason I posted this is I will be eligible to retire in 2022. Yes I have a small pension from Visa and a 401k plan but will it be enough?
chances are likely you'll start to see benefits reduction in the next ten years. It's possible you can manage a budget on the amount you may receive but that all depends on what you see as a manageable budget
RPIJG wrote: chances are likely you'll start to see benefits reduction in the next ten years. It's possible you can manage a budget on the amount you may receive but that all depends on what you see as a manageable budget Well yeah. It's gotta be enough to afford car stuff.
____________________ If you can't read this, you're illiterate.
I think it's safe to say Social Security is dead. Man is Bush in the dark about how money issues work. Just keep borrowing big GW, I'm sure we'll all appreciate that later.
Oh wait...............That mentally defective part would include our President. Gee! What would we do without him?
