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Old 12-05-2018, 11:59 AM
 
66,296 posts, read 67,496,775 times
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it really works fine as is . break off ssdi and fix and update spousal . done
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Old 12-05-2018, 01:38 PM
 
Location: Oklahoma
2,117 posts, read 704,059 times
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Quote:
Originally Posted by mathjak107 View Post
worst idea you can have . making a program that is based on being the back stop when all else fails a private investment game .
12.4% isnít a backstop. The private investment game is where real prosperity is generated.

Iím curious, do you recommend individuals invest for retirement aside from SS? If so, do you recommend they put their investments solely in treasuries/savings bonds?

What about a compromise of half(SS) and half(private qualified funds)?
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Old 12-05-2018, 01:40 PM
 
Location: Oklahoma
2,117 posts, read 704,059 times
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Originally Posted by mathjak107 View Post
it really works fine as is . break off ssdi and fix and update spousal . done
Are you suggesting disability be scrapped? Update spousal?
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Old 12-05-2018, 01:59 PM
 
Location: Vallejo
13,593 posts, read 15,295,696 times
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Quote:
Originally Posted by cebuan View Post
Signifantly reduce the maximum benefit. There are married couples getting more from SS (over $60,000 a year) than I ever earned in a year of working. They had the income to afford on their own their continued lavish liestyle, it is not what SS was designed to pay for.
And?

Social Security is quite progressive. A married couple who were both fairly high wage earners can indeed draw more than $60,000 a year. They also paid in more than they'll take out. In contrast, if you think $60,000 is a lavish lifestyle, then most likely you will not. Of course that's the problem. Once people get used to welfare they feel entitled and then its hard to cut them off their bennies. "But I paid in, how dare you take my money." Sure, you paid in. It just might only be 35 cents on the dollar that you took out. Meanwhile the person taking out $60,000 paid in perhaps two dollars for every dollar they took out. Yet you want their "lavish lifestyle" cut so your welfare won't be.

Raise taxes and cut payouts. Simple. Difficult to pull off as no one wants to pay the taxes or have their welfare cut. None the less, it's what needs to happen eventually. Maybe they don't do anything until Social Security runs out of money and then backfill it with general funds. Of course that still means taxes (or deficit) but who pays the taxes is different. Mostly that would be from income taxes and only about half of people pay any federal income taxes.

Alternative they wait until it runs out of money and then cut benefits. Again, most likely those wouldn't be a straight cut. They'd cut the benefits to the wealthy people who subsidize your welfare more than they'd cut your benefits.

But either way, taxes get raised, benefits get cut eventually. It's just a question of when and how.
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Old 12-05-2018, 04:02 PM
 
66,296 posts, read 67,496,775 times
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Originally Posted by maat55 View Post
Are you suggesting disability be scrapped? Update spousal?
made part of welfare .
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Old 12-05-2018, 04:03 PM
 
66,296 posts, read 67,496,775 times
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Quote:
Originally Posted by maat55 View Post
12.4% isn’t a backstop. The private investment game is where real prosperity is generated.

I’m curious, do you recommend individuals invest for retirement aside from SS? If so, do you recommend they put their investments solely in treasuries/savings bonds?

What about a compromise of half(SS) and half(private qualified funds)?
prosperity is where we do our own investing . ss is an annuity that acts as insurance . your ability not to be able to do both efficiently is not the ss systems problem .

Last edited by mathjak107; 12-05-2018 at 04:25 PM..
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Old 12-05-2018, 04:27 PM
 
9,742 posts, read 7,580,914 times
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Quote:
Originally Posted by maat55 View Post
Are you suggesting disability be scrapped? Update spousal?
I want to end spousal. It's welfare wrapped in a cute, elderly bow.
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Old 12-05-2018, 04:31 PM
 
Location: State of Transition
74,000 posts, read 65,665,508 times
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Quote:
Originally Posted by Jim1921 View Post
Sorry Ruth, but you are wrong, You made the case as to adjusting social security as to what people can afford. I merely highlighted as to why that is silly. Further, if some high earners donít need/want the money, they can send it back to the government. Perhaps you can start by offering to send back some or all of your social security benefits to get the ball rolling.
The gummint has no way of processing checks returned to the SS office by their recipients. This is why Iacocca and some other Repub high earners tried to push the gummint into raising their taxes, after the Bush tax cuts. They wanted to build it into the system. If I were in their league, I'd love to return my check, but the SS Admin wouldn't be able to handle that. As it is, they can't even handle people's Medicare payments properly, on occasions when people give them their Medicare premium payments.
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Old 12-05-2018, 04:33 PM
 
66,296 posts, read 67,496,775 times
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you can return up to 1 year and refile later .
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Old 12-05-2018, 04:43 PM
 
Location: State of Transition
74,000 posts, read 65,665,508 times
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Quote:
Originally Posted by Jim1921 View Post
As pointed out many times in the economics forum, cutting CEO pay and distributing it to other employees would typically have minimal impact. For example, the most recent annual compensation for the CEO of WalMart is $22.8 million. If you took all that away and distributed that to the other 2.22 million employees, they would each walk away with an extra $10 in their pocket.
Just because C-D says so, doesn't mean it's true. Why are you looking at just one top admin at Wax-Mart, or anywhere? (Don't forget that CEO's stock options, btw, & income derived form that. That wasn't ever practical to do, until the cap gains tax was lowered.) It's the top tier, as well as the CEO. Runaway CEO pay (or we should say more accurately: pay packages) and the abandonment of profit-sharing via incremental pay raises for employees is widely recognized as a major factor in wage stagnation.

As to Wal-Mart, it's interesting you chose that for an example. Pay at Wax-Mart used to be much more equitable (and livable, for the rank-and-file), until the founder's kids took over. Stock analysts have been recommending against Wax-Mart stock for years, because the next generation in the family is clearly bleeding the company dry for their own gain. Entire dissertations could be written about Wall-Mart's change for the worse, it's use of economic practices when going into developing countries, that are illegal in the US, in order to gain a dominant position in foreign markets. etc. etc. We could create an entire sub-forum to discuss Wal-Mart, lol. You really waded into the swamp with that one.
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