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Old 05-13-2017, 06:59 AM
 
Location: Proxima Centauri
2,329 posts, read 959,477 times
Reputation: 2417

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Quote:
Originally Posted by whogo View Post
If SS had been privatized 40 years ago I could retire today.
Since mortgage backed securities were rated triple A, and collapsed in 2008 perhaps you would be working into your seventies.
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Old 05-13-2017, 06:59 AM
 
Location: Central Mexico and Central FL
3,545 posts, read 1,400,813 times
Reputation: 4770
Quote:
Originally Posted by Southern man View Post
Yes, deflect by bringing up Obama, or Hillary. It never gets old. Sigh.
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Old 05-13-2017, 07:02 AM
 
34,011 posts, read 15,335,524 times
Reputation: 10231
Quote:
Originally Posted by Tonyafd View Post
Some of you have the clarity of thought to understand that the Republicans are the enemy of SS and Medicare. Why do so many old people vote against their own interests?

Can I get some of you to email your reps in an effort to save SS?
Some of us have clarity of thought to understand that SS is supposed to be just one source of income of the multiple sources of income in retirement.
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Old 05-13-2017, 07:03 AM
 
34,011 posts, read 15,335,524 times
Reputation: 10231
Quote:
Originally Posted by dothetwist View Post
Yes, deflect by bringing up Obama, or Hillary. It never gets old. Sigh.
Boooooooooooooooooosh!

<sarcasm>
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Old 05-13-2017, 07:07 AM
 
Location: Texas
26,701 posts, read 14,180,823 times
Reputation: 15504
Quote:
Originally Posted by Tonyafd View Post
I had a recent conversation with a one percenter. He said that the recession of 2008 weakened the SS trust fund sufficiently to create a danger during the mid twenties. This danger would reduce payouts by 25%.

I've started emailing my Senators and Congressman holding them responsible for Social Securities future.
We spend more on defense than the next seven countries combined. There should be money found for Social Security.

It's a simple fix

Really, it is.

But the GOP will continue to do everything they can get away with to wreck social security. They've hated it for 80 years. It benefits working Americans, after all. You know, the families that Pubs always say they support by yipping and yapping about "family values."

If those corporate owned hypocrites really meant to help working families, they could do it over night with broad bipartisan support.

They HATE SS because it's a Dem program and it's successful and widely popular. Dismantling it is a dream for them. And they feel the same way about Medicare.

SS tax comes out of employer and employee paychecks from the first dollar earned up to a maximum of $127,200. For a large percentage of workers, they pay more in SS than they do in federal income tax. And then congress (which years ago shoved SS funds into the general fund) takes their SS contributions to pay for their stupid middle east wars, leaving SS in the lurch. Then they whine about the SS "crisis" they've created, but instead present it as some sort of long-term demographic trend.

The fix is simple. Easy. It would fit in a tweet.

1. Exempt the 1st $25,000 of income from SS deductions.
2. Raise the $127,200 limit to oh, say, $500,00 or so.
3. Remove SS funds from the general account and return it to a hands-off separate fund.

Problem solved.

But only if "working families" were really the concern of DC hypocrites.

The reality is that they're held in contempt and lied to shamelessly.
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Old 05-13-2017, 07:15 AM
 
34,011 posts, read 15,335,524 times
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During the Obama administration they did not raise SS income or the raise was minimal, then they raised the cost of medicare. For many it was a wash. This not only effects people currently on SS but it also effects future recipients.
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Old 05-13-2017, 07:17 AM
 
34,011 posts, read 15,335,524 times
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Social Security Taxes:

If your filing status is single, and your combined income is between $25,000 and $34,000, up to 50% of your benefits could be taxable. If your combined income is more than $34,000, up to 85% of your benefits could be subject to tax. And, if your combined income is less than $25,000, your benefits are not taxable at all.

If you're married and file a joint return, the 50% taxable range is $32,000 to $44,000, and the 85% threshold is combined income of $44,000 or more. Married couples with combined income of less than $32,000 don't pay taxes on their Social Security benefits.

Finally, if you're married and file a separate return, the threshold is zero. In other words, your benefits will probably be taxable, regardless of your income.

It's also important to mention that no matter how high your income is, or what your filing status is, you won't pay taxes on any more than 85% of your benefits.

https://www.fool.com/retirement/gene...y-taxable.aspx
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Old 05-13-2017, 07:17 AM
 
Location: Proxima Centauri
2,329 posts, read 959,477 times
Reputation: 2417
Quote:
Originally Posted by petch751 View Post
Some of us have clarity of thought to understand that SS is supposed to be just one source of income of the multiple sources of income in retirement.
You've made your point. I recognized your point when I was in my thirties. It still isn't enough.
Now, Would you take seven hundred dollars a month to replace anti Social Security politicians in Congress or would you rather have a few thousand more bombs that will create gravel in Afghanistan?
There is a bill in committee that will cut SS benefits by a third sponsored in December by an eighty year old Republican congressman from Texas.
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Old 05-13-2017, 07:19 AM
 
Location: Central Mexico and Central FL
3,545 posts, read 1,400,813 times
Reputation: 4770
Quote:
Originally Posted by petch751 View Post
During the Obama administration they did not raise SS income or the raise was minimal, then they raised the cost of medicare. For many it was a wash. This not only effects people currently on SS but it also effects future recipients.

You must pay taxes on your SS benefits if you file a federal tax return as an “individual” and your “combined income” exceeds $25,000. If you file a joint return, you must pay taxes if you and your spouse have “combined income” of more than $32,000.
Increases to SS (or not) are governed by existing law, not the sitting president. Increases to Medicare are governed by existing law, not the sitting president. Taxes on SS are governed by existing law, not the sitting president.

Blame Obama all you want, but these laws have been in effect for many years prior to his term.
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Old 05-13-2017, 07:24 AM
 
34,011 posts, read 15,335,524 times
Reputation: 10231
Quote:
Originally Posted by Tonyafd View Post
You've made your point. I recognized your point when I was in my thirties. It still isn't enough.
Now, Would you take seven hundred dollars a month to replace anti Social Security politicians in Congress or would you rather have a few thousand more bombs that will create gravel in Afghanistan?
There is a bill in committee that will cut SS benefits by a third sponsored in December by an eighty year old Republican congressman from Texas.
Do you have a link?

I'm wonder if those of us who were responsible and saved and invested for our retirement years are once again going to be punished for being responsible.
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