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Old 09-03-2011, 03:56 PM
 
6,226 posts, read 6,850,493 times
Reputation: 3099

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Quote:
Originally Posted by Dollydo View Post
Many seniors have nothing because they squandered their money throughout their life. Others budgeted, invested and planned for their retirement. So, because they did the right thing they should be penalized? I think not.
Either or? If everyone lived long enough no doubt each and everyone will encounter an unplanned disaster that would devastate even the wealthy.
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Old 09-03-2011, 04:00 PM
 
Location: Florida
2,291 posts, read 4,951,360 times
Reputation: 5236
We are encouraged to start investing for our childrens extended education at their birth. We are encouraged to start investing for our retirement in our twenties...we do, and we are penalized for doing so.

Those who do nothing are given benefits, that, we who manage our money are not.

What is wrong with this picture?
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Old 09-03-2011, 04:02 PM
 
Location: Florida
2,291 posts, read 4,951,360 times
Reputation: 5236
"Either or? If everyone lived long enough no doubt each and everyone will encounter an unplanned disaster that would devastate even the wealthy."

++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++++++++++++++++++++

Such as?
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Old 09-03-2011, 04:05 PM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
Reputation: 32309
Default Whining, moaning, and groaning are not solutions.

The original poster has written a rational piece about how to deal with the financial crunch which will be facing us shortly (in the case of Medicare) and somewhat further down the road (in the case of Social Security). There may be better solutions than his, but so far I have not seen any posted in this thread. Bemoaning past policies and mistakes is fine, but we need to find a way forward from this point in time, from 2011.
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Old 09-03-2011, 04:08 PM
 
Location: The Triad (NC)
28,543 posts, read 62,270,607 times
Reputation: 32280
Quote:
Originally Posted by Dollydo View Post
What is wrong with this picture?
That you're wrong?
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Old 09-03-2011, 04:21 PM
 
Location: Bar Harbor, ME
1,922 posts, read 3,781,957 times
Reputation: 1292
Quote:
Originally Posted by Escort Rider View Post
The original poster has written a rational piece about how to deal with the financial crunch which will be facing us shortly (in the case of Medicare) and somewhat further down the road (in the case of Social Security). There may be better solutions than his, but so far I have not seen any posted in this thread. Bemoaning past policies and mistakes is fine, but we need to find a way forward from this point in time, from 2011.
This is not something that people want to hear.

Most certainly there are several things that need to be done:

1. Raise taxes on everybody, but do so by eliminating the unfair current tax system and using a flat tax on everyone.... 5% would proably work. Of course those who are now making 2.5 billion a year like Buffet, will now have to pay a flat 125 milion instead of nothing. IF Mitt Romney wants corporations to be people, then they too will have to pay the 5% on gross profits just like "OTHER PEOPLE".

2. Raise the early retirement age for social security for everyone who is 45 and below to 66, the regular age to 70, and the final age for the most to 73.

3. Eliminate any state or federal laws which allow forced retirement of anyone who is under the age of 73. Vigorously prosecute, and provide serious penalties a portion of which goes to the plaintiff in any circumstance where it looks like age discrimination is being used to eliminate an employee.

4. Eliminate any loopholes which allow the federal government to touch any of the money that is in the SS Fund.

5. Eliminate the allowance of the federal government to attack any country for any reason at all, unless that same country has made direct attack on American Soil. Terrorists are not countries. US Warships in foreign ports are not considered foreign soil.

6. Limit the maximum that medicare will pay per year. Anyone who needs more than this amount for some reason will need to purchase a supplementary private policy to kick in after medicare stops paying. People who choose not to do that will lose health service after their medicare runs out for that year. Alterntively, use a smaller interval with a correspondingly less smount per interval. The less convoluted regulations, the easier it will be to understand. My last employer before my recent retirement had a vision and dental amount. Everybody knew that we had a maximum of $1600 that they would pay for dental or vision or both. When we ran out, we paid for it ourselves.
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Old 09-03-2011, 04:25 PM
 
Location: Florida -
8,767 posts, read 10,859,665 times
Reputation: 16640
"Entitlement" used to mean something one earned or deserved, but, too many folks who "had a hand out for a hand-out" were offended by the terms 'welfare or charity' -- So our politically correct legislators (always ready for a 'vote hand-out' based on euphemisms, rather than performance or substance), sought to appease the masses by pretending that 'welfare' was actually earned or deserved .... thus, the term 'entitlement' was substituted for 'welfare programs' --- which were then regarded as 'entitlments' ... just like Social Security/Medicare.

IMO, anyone who has had SS/Medicare taken out of their paycheck for 40+ years ... is truly ENTITLED to expect to receive what was promised, or to get their money with interest back! --- Others with their hand-out, who have never put anything in the pot, are only "entitled" under PC. --- I'm certainly not saying that the weaker and downtrodden members of our society do not merit help, but, this 'entitlement mentality' has gone way too far! ---
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Old 09-03-2011, 04:33 PM
 
Location: Los Angeles area
14,018 posts, read 17,756,785 times
Reputation: 32309
Default A gross mis-representation of the facts

Quote:
Originally Posted by Zarathu View Post
Actually Social security doesn't become an entitlement according to the SSA until you have had 120 quarters in the system.

If you move to Maine, with less than 120 Quarters(30 years) in the system, and work for just one day as a teacher there(as well as 17 other US states), you will lose 70-100% of your social security benefits.

Once you reach 30 years in the system, (something I did more than 10 years ago), then you reach permanent status, and nothing can keep you from getting you payment except your own government or a national catastrophe.
The parts I bolded above are not correct. You can never lose 100% of your Social Security benefits, if you have qualified for them by working 40 quarters (10 years) in a job in which Social Security taxes are taken out of your pay. You are talking about the Windfall Elimination Provision (WEP), under which your SS benefits can be reduced (not eliminated) if you have a substantial pension from a non-SS job. The following is a copy-and-paste from the SS website (www.socialsecurity.gov):


... and a guarantee

If you get a relatively low pension, you are protected. The reduction in your Social Security benefit cannot be more than one-half of the amount of your pension that is based on earnings after 1956 on which you did not pay Social Security taxes.
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Old 09-03-2011, 04:42 PM
 
Location: Prospect, KY
5,288 posts, read 17,971,054 times
Reputation: 6544
The government is incredibly wasteful with our money. I don't think any of us realize the depth and breadth of waste that goes on. Remember last week's article about the Pentagon's $720 Million late fees on shipping containers? We have friends who served a service mission for our church in the middle east - they were sent there to research and install water purification systems. In the course of their travels they met a government contractor who was receiving $350,000 a month to research the installation of water purification systems. After eighteen months, our friends had completed their mission and the installation of all the water purification systems that they had been assignment to install - at a very minimum of cost. The government contrator was still "researching" the project and not one system had been installed....18 x $350,000 (for research)......this is truly the tip of a very monstrous iceburg of government waste and inefficient spending.

Throwing more money at the government is not the answer to any of our country's money woes.
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Old 09-03-2011, 04:44 PM
 
Location: NJ
24,173 posts, read 30,291,905 times
Reputation: 16067
you scrap social security/medicare and pick up the poor elderly in welfare and medicaid.
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