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With your statement in mind, I guess you're all for ending social security. Why pay for people who can't work. I guess when the cost of your benefits exceed what you've paid into the system, (typically after about a year and a half of SS payments) you'll happily send those checks back!
I am 100% for phasing out social security. I would forfeit the 10 years I've paid in to end a system that is unsustainable for future generations. Many my age and younger agree.
The only support it really gets is because people don't want to harm the current or soon to be recipients. We could end it without decreasing their payout significantly. We just need a referendum that makes it clear that these people will be protected, while freeing future generations (and federal budgets.)
I am 100% for phasing out social security. I would forfeit the 10 years I've paid in to end a system that is unsustainable for future generations. Many my age and younger agree.
The only support it really gets is because people don't want to harm the current or soon to be recipients. We could end it without decreasing their payout significantly. We just need a referendum that makes it clear that these people will be protected, while freeing future generations (and federal budgets.)
You should start saving about 40% of your salary every year for the next 40 or so to pay for your old age ...in the style that millennials would like to become accustomed! And don't forget those HOA payments! You'll be in the same boat as those newly-minted teachers!
Another reason to NOT vote for another Republican....
I'm sure Republicans would support replacing current retirement benefits with 401k matching. Defined-contribution plans are much more fiscally responsible than defined-benefit plans.
Location: The place where the road & the sky collide
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Quote:
Originally Posted by vulfpeck
I'm sure Republicans would support replacing current retirement benefits with 401k matching. Defined-contribution plans are much more fiscally responsible than defined-benefit plans.
Public servants pay into their pension plans. You have been told this repeatedly.
Public servants pay into their pension plans. You have been told this repeatedly.
Yes, they pay a little and taxpayers cover the rest. Pension is $2.7 billion short of funding, but even worse is the health insurance shortfall.
"...the state has promised to provide every state employee with free health insuranceafter they retire, for life. But there’s one hitch: Not one penny has been set aside to pay those bills. How big a problem is that? It’s an unfunded liability of $26 billion that’s going to land on taxpayers’ doorsteps when the bills come due."
Let that sink in for a minute... Taxpayers are on the hook for nearly $30 billion dollars to pay people that no longer even work for them. For the rest of their natural life. Many of which can retire at 45, more than 20 years sooner than those same taxpayers will even be able to consider retirement.
Yes, they pay a little and taxpayers cover the rest. Pension is $2.7 billion short of funding, but even worse is the health insurance shortfall.
"...the state has promised to provide every state employee with free health insuranceafter they retire, for life. But there’s one hitch: Not one penny has been set aside to pay those bills. How big a problem is that? It’s an unfunded liability of $26 billion that’s going to land on taxpayers’ doorsteps when the bills come due."
Let that sink in for a minute... Taxpayers are on the hook for nearly $30 billion dollars to pay people that no longer even work for them. For the rest of their natural life. Many of which can retire at 45, more than 20 years sooner than those same taxpayers will even be able to consider retirement.
Maybe you should find an employer that will provide you with something more than the "bottom-of-the-barrel" benefits that they made you believe is the new normal. You and many others, fell for the GOP line that "corporations are more important than people" and you happily supply the "one-percenters" with everything they want at the expense of the middle class. Then you're only too quick to blame the middle class for their financial shortcomings - decrying any attempt by them to regain any rights they had ...that have been "stripped away" by the lobbyists that provide the GOP with big campaign bucks.
You're going to find out in a few more years, that you have more in common with the "so-called takers" than the "so-called makers". Leona Helmsley would no doubt classify you as "one of the little people"!
Last edited by TheEmissary; 06-07-2016 at 06:01 PM..
Maybe you should find an employer that will provide you with something more than the "bottom-of-the-barrel" benefits that they made you believe is the new normal. You and many others, fell for the GOP line that "corporations are more important than people" and you happily supply the "one-percenters" with everything they want at the expense of the middle class. Then you're only too quick to blame the middle class for their financial shortcomings and then decrying any attempt by them to regain any rights they had ...that have been "stripped away" by the lobbyists that provide the GOP with big campaign bucks.
You're going to find out in a few more years, that you have more in common with the "so-called takers" than the "so-called makers". Leona Helmsley would no doubt classify you as "one of the little people"!
It's not the top 1% versus everyone else, it's those that benefit from big government versus those that don't. You obviously fall in the former group. Most of the middle class, along with the corporations that employ them, belong to the latter. Take your class warfare back to the 80's where it belongs.
Yes, they pay a little and taxpayers cover the rest. Pension is $2.7 billion short of funding, but even worse is the health insurance shortfall.
"...the state has promised to provide every state employee with free health insuranceafter they retire, for life. But there’s one hitch: Not one penny has been set aside to pay those bills. How big a problem is that? It’s an unfunded liability of $26 billion that’s going to land on taxpayers’ doorsteps when the bills come due."
Let that sink in for a minute... Taxpayers are on the hook for nearly $30 billion dollars to pay people that no longer even work for them. For the rest of their natural life. Many of which can retire at 45, more than 20 years sooner than those same taxpayers will even be able to consider retirement.
Why is the pension $2.7 billion short? Well maybe if the lame-brain legislature hadn't decided to give tax cuts with most of the money going to the richest North Carolinians, they might have had the funds to pay for what they had promised state employees years before.
In years past, when the marginal tax rates were much higher, especially on high income people, we didn't have all of the fiscal problems we have now. If those GOPers and teabaggers look fondly back on the 50's and early 60's as a golden era, let's duplicate the finances of those times. How about a 90% marginal tax rate on capital gains. The CEO made 25 times the salary of his lowest paid employee. Employees had strikes in those days as well!
Just the other day someone pointed out that one of the big NC hospital corporations CEO made $9,000,000 or so, last year. If we apply that old 50's ratio, the orderly in one of this guy's hospitals should be pulling in $360,000. I'm sure he'll appreciate the increase! He'll actually be able to afford a Cadillac health plan as well as a Cadillac! Those old marginal income tax rates and 90% capital gains taxes on that CEO's salary and investments ought to cover a few pension payments of some old lady secretaries who worked for the state. See. vulpeck - everything old is new again!
Last edited by TheEmissary; 06-07-2016 at 06:55 PM..
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You'll be in the same boat as those newly-minted teachers! 
