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You don't understand economics. Germany had hyperinflation because they owed reparations to other countries. Money printing alone does not cause hyperinflation.
Wrong.
Germany used money printing and hyperinflation to get out paying reparations at their true value.
Instead, it paid the reparations off in worthless currency.
And you have the nerve to say that I don't understand economics -- lol.
I guess it will be news to you then that the biggest haters of white people are other white people -- virtually all of them liberals and leftists. And you are one of them.
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Seniors have not paid commiserate to what they've taken and are taking out.
I've already shown that you're wrong about this. And the word you want is "commensurate," not "commiserate."
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Medicare even covered couples when only one worked.
Oh, the horror!
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Medicare was unfunded.
Wrong.
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I have a family and a mortgage of my own.
So what? How does that make you different from the average senior when he or she was your age?
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I don't need your money and I don't use Obamacare.
Like everyone else in this country, you have benefited from the federal income taxes I've paid. As well as state and local if you've lived in my state or in my city/county.
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I've worked since I was 16.
Really? So you dropped out of high school?
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I self-funded college.
How did you get into college without finishing high school?
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I worked full time through college and have worked full time since 17.
Sure you have. But even if you're not lying, you are no different than many older people who did the same thing.
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I never took a single penny from my parents but I did lend them many thousands of dollars.
Well, goody for you. I guess you don't count them feeding, housing and clothing you as a baby as "taking a single penny from them."
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My father was military. No coddling here.
Keep building up your phony profile. It's entertaining.
What about all the other Medicare tax people paid for decades? People have already shown you the numbers. Their contributiions have already been in the hundreds of thousand of dollars for a benefit that doesn't even start until one truns 65.
BUT, here's the problem with those calculations: the return on investment from 1950 to 2009 was actually around 11%, not the 2% figure cited, and the article even warns about that:
So even the figures quoted abovesubstantially underestimate the total value of an average income earning couple's payroll tax contributions paid throughout their working lives.
Actually, they paid MORE than enough. The problem is that the federal government is an extremely poor steward of the payroll tax revenue they collected. That's the government's fault, not seniors' fault. Actually, they're going down.
My question to you is why do so many of us understand all of this, while you simply have NO clue and have been falsely asserting that seniors have been paying ridiculously low Medicare taxes throughout the span of their working years?
This is why so many of us are so hesitant to let the federal government touch any other aspect of our lives. They simply do a really crappy job of everything they touch.
Well said, and worth posting again.
I'd like to get one of those bumper stickers that says "I'm spending my kids' inheritance."
I think that would certainly be appropriate given the ageism and white people-hatred of the younger generation.
What I'm sick of is young people getting free medical care handed to them on a platter. It would interesting to see a 6 year old with asthma shopping for health coverage on the open market.
Way too many young people simply assume that somebody is going to put a roof over their head, food on their table, pay the utilities and haul them to the doctor when they do something stupid like stepping on a sharp object. Oh, and of course provide them with a free or massively subsidized education.
All for a mere 20 years or so, unless they lay around the house even longer. What have they paid into the system?
The truly sad thing is, I know plenty of adults who started out the same way. Disgusting. Takers, every one of them.
The other night at the bar I go to, I heard a young healthy looking guy saying he was on disability, all the while drinking alchohol, smoking and munching on onion rings. He was about 23. Said he'd gotten pulled over and they found his Xanax or whatever it was that he needed for his post traumatic spoiled upbringing. Didn't get tagged for DUI because he was covered by the ADA. Or something like that.
Another guy who goes out a lot to the same bar is on his third post graduate degree (law and 2 masters); the law degree from a low ranking but expensive private school. His bar tab for the last fifteen years has probably been paid by student loans that he'll never pay back. Student loan debt is over a trillion now, more than all credit card debt. That's the next bailout we're going to see....
Yeah, we have a great crop of young'uns coming up....
Look at investment growth over the last 40 years. 2% is too low. Yes there have been times of loss but there have been times of fast gains as well. As bad as things are now, my financial analyst tells me to use 5% for future growth on investments. That doesn't mean I'll see 5% every year. I made 10% last year. I may go backwards this year but over the long haul I can probably expect more than 5%. That's conservative.
Right now 2% is what I can get investing less than $100k in an interest bearing account. Interest rates suck right now. When I was 16 and just started working, I earned over 5% on my pass book savings account. Interest rates are VERY LOW compared to where they've been throughout my lifetime. 2% may be reasonable today but it's not over the last 40 years and that's the amount of time I've been paying into SS.
Case in point, I started buying savings bonds for my kids when they were little even though the interest rates were lousy because it was easy to do through payroll deductions. Most of them are paying over 3% interest and savings bonds pay lousy interest. You must be young to think what is NOW will be forever. Don't worry. We'll see inflation again and increased interest rates. Now is the time to buy a house with interest rates so low. 10 years from now you'll be glad you did. I refinanced last year for less interest than the savings bonds I bought my dd pay.
That is what mine says too. Do ya think they might know what they're talking about? Mine has been in the business for about 30 years now.
ETA: Any investment over 30 years will make money, no matter which 30 years one is talking about. Any financial advisor will tell you that, too.
Last edited by Katarina Witt; 03-21-2015 at 10:30 PM..
This thread is to long to read every post. I say a 70-80 yr old has worked much harder than the youth of today. Never mind people who have multiple kids paid for by taxpayers.Some take advantage of Medicaid. I read somewhere Chelsea from "Teen Mom' has Medicaid. How on earth can they get Medicaid? they get paid on reality tv and her family well-off? Talk about takers. Medicare is not just for elderly. It is also those with end stage renal disease or certain disabilities. I agree the OP doesnt understand how insurance works. By that logic, all insurance should end.
The other night at the bar I go to, I heard a young healthy looking guy saying he was on disability, all the while drinking alchohol, smoking and munching on onion rings. He was about 23. Said he'd gotten pulled over and they found his Xanax or whatever it was that he needed for his post traumatic spoiled upbringing. Didn't get tagged for DUI because he was covered by the ADA. Or something like that.
Another guy who goes out a lot to the same bar is on his third post graduate degree (law and 2 masters); the law degree from a low ranking but expensive private school. His bar tab for the last fifteen years has probably been paid by student loans that he'll never pay back. Student loan debt is over a trillion now, more than all credit card debt. That's the next bailout we're going to see....
Yeah, we have a great crop of young'uns coming up....
And they forget oh-so-fast who has carried them all these years.
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