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Old 09-18-2011, 06:59 AM
 
24 posts, read 70,008 times
Reputation: 25

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I am about to turn 65 in November. I have chosen to work past 62 in order to maximize my benifit. Now we hear all this talk about the long term funding of the system. The Republicans are calling it a Ponzi scheme. They say it can't work. WRONG! It worked for our grandparents and parents and it can continue to work for us and our children. Here is my opinion. 1. All previous administrations have stolen from it to finance other programs. 2. End the wars and bring our brave men and women home. Let's start putting Americans first. 3 .Repeal NAFTA and CAFTA and bring those jobs back to America. This will bring good paying jobs back to the United States. This will increase funding and put our people back to work. 4 .Eliminate foreign aid. 5 .If necessary, lift the cap on the earning level for contributions. 6. Raise the percentge for contrbutions. 7. Eliminate costly government progams that perpetuate a welfare society.
Social Security is a very vital component of our retirement planning. We cannot afford to abandon it. If managed properly, it could be a great component to the retirement system. Employers seem to be shedding as many expenses as possible associated wth the hard working people who have served them so faithfully .Many Americans have no savings, little or no pensions or greatly dimished 401's. I personally took big hits on my 401 and my home value over the last 10 years. That is why I am still working.
I would like to know how others feel on this topic.

Last edited by greatspark; 09-18-2011 at 07:39 AM..
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Old 09-18-2011, 09:36 AM
 
Location: Los Angeles area
14,018 posts, read 17,747,361 times
Reputation: 32309
I would encourage you to start reading the various past threads in this Retirement Forum where the subject of Social Security has been discussed. There has been a lot of ink spilled on that topic here. Many of us believe, as you do, that Social Security can continue to be sustainable with some small adjustments, although I personally cannot subscribe to evey item on your list of adjustments, some of which have little to do with strengthening Social Security.
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Old 09-18-2011, 10:44 AM
 
Location: Swiftwater, PA
14,421 posts, read 11,733,702 times
Reputation: 10817
Quote:
Originally Posted by greatspark View Post
I am about to turn 65 in November. I have chosen to work past 62 in order to maximize my benifit. Now we hear all this talk about the long term funding of the system. The Republicans are calling it a Ponzi scheme. They say it can't work. WRONG! It worked for our grandparents and parents and it can continue to work for us and our children. Here is my opinion. 1. All previous administrations have stolen from it to finance other programs. 2. End the wars and bring our brave men and women home. Let's start putting Americans first. 3 .Repeal NAFTA and CAFTA and bring those jobs back to America. This will bring good paying jobs back to the United States. This will increase funding and put our people back to work. 4 .Eliminate foreign aid. 5 .If necessary, lift the cap on the earning level for contributions. 6. Raise the percentge for contrbutions. 7. Eliminate costly government progams that perpetuate a welfare society.
Social Security is a very vital component of our retirement planning. We cannot afford to abandon it. If managed properly, it could be a great component to the retirement system. Employers seem to be shedding as many expenses as possible associated wth the hard working people who have served them so faithfully .Many Americans have no savings, little or no pensions or greatly dimished 401's. I personally took big hits on my 401 and my home value over the last 10 years. That is why I am still working.
I would like to know how others feel on this topic.
SS was never meant to be foreign aid: http://www.ssa.gov/immigration/extension.htm

The biggest problem is that our government loves to grab money from programs that work. If they collect our tax dollars to fund SS; the money should stay where it was meant to stay and support those that contributed. This isnít just a problem passed on by previous administrations - this particular problem is new legislation.

It doesnít seem to make any difference what party is in office. If there is money; somebody will go after it.

Good luck on your coming retirement.
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Old 09-18-2011, 05:16 PM
 
Location: Coast of Somewhere Beautiful
2,333 posts, read 4,619,557 times
Reputation: 5728
First of all, stop listening to politicians during election season. Keep in mind that election season runs from the last election to the next election.

Take a moment and exhale. Congress has proven totally incapable of addressing even minor issues. There's no way they are going to agree on abandoning Social Security. There's also very little hope they're going to take meaningful steps to repair it anytime in the near future, particularly during election season. (See definition of election season, above.) Lifting the earnings cap on SSI taxes makes far too much sense for it to have any chance of happening. Besides, that would raise taxes on the wealthy, which may reduce contributions to political PAC's.

Republicans are not calling SS a Ponzi scheme. The Texan lugnut has that distinction. You know, the same one who doesn't buy into outrageous theories like evolution. He has no prayer of being elected president, and right now, he and Bachmann may be Prez Obama's best friends heading into November. Between lugnut and Bachmann, they are convincing innumerable voters how far out there today's Republican party truly is.

I like many of your suggestions, but folks like you, me, Obama, congressmen, etc. aren't going to change these things. Some (you and me) don't have the power. The rest are tied up worrying about election season. It's time for all of us to hunker down and take care of the very few things we can actually control. Make your plans based on what you know you have, and for 64 year olds, that includes SS. If you have kids, do them a favor and make sure they don't make their plans based on SS.
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Old 09-19-2011, 08:01 AM
 
Location: SW MO
23,605 posts, read 31,497,588 times
Reputation: 29076
I never bought into the "popular" angst regarding the demise of Social Security and now, three years into collecting my benefits, I'm not about to start.
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Old 09-25-2011, 05:08 PM
 
Location: Sierra Vista, AZ
16,133 posts, read 20,831,348 times
Reputation: 8293
I wound up disabled at 53 and without Social Security disability and then Social security and Medicare I'd have been living in a cardboard box
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Old 09-25-2011, 05:23 PM
 
Location: where you sip the tea of the breasts of the spinsters of Utica
8,301 posts, read 12,221,794 times
Reputation: 8054
Me too, Boompa.

Social Security will keep issuing checks as promised. The only reason it's having problems is because money is stolen ..... err, borrowed ...... so that we can afford to build more high tech smart bombs to blow up camel herders in other other nations. We're at the point now where we can get a cruise missile to hit the bowl of falafel at a wedding reception! And with the help of stolen Social Security money, that kind of accuracy will steadily improve. Maybe soon we'll be able to hit a particular ball of falafel. Golly gee whiz!

Of course they'll never cut the military budget and leave SS alone, because "defense" contractors own the US Congress, and they want more money not less.

So ..... climbing down off the soapbox and addressing one of the OP concerns ...... if Social Security gets sucked dry, it won't be allowed to go bankrupt. The govt will print more money to keep the checks going out on time, and in the amounts promised. However, since "printing money" leads to inflation, the value of those checks will drop even faster than it's dropping now.

You'll get the checks but they won't buy much. Maybe enough to pay rent in a shabby little room in a slum. Try to learn a skill to use in the upcoming black market, so you can barter, say, auto repair for some meat or furniture ....... you know how it works. Barter will become very big, very important to survival.

If you own a home and have a decent sized yard, start putting in a vegetable garden and some fruit or nut trees. It's fun and healthy to garden, great retirement hobby.
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Old 09-25-2011, 05:30 PM
 
48,516 posts, read 83,966,925 times
Reputation: 18050
I woulod encouage the Op to read the SS trusteees reprot delivered not long ago to see what the problems are and what will occured that has little or nothing to do with your items.
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Old 09-25-2011, 05:46 PM
 
Location: SW MO
23,605 posts, read 31,497,588 times
Reputation: 29076
Quote:
Originally Posted by texdav View Post
I woulod encouage the Op to read the SS trusteees reprot delivered not long ago to see what the problems are and what will occured that has little or nothing to do with your items.
I'd also caution the OP to bear in mind that what one Republican candidate (Rick Perry) says during a pre-election debate neither typifies nor represents all Republicans. Each can, has and will make their own less than candid publicity pronouncements as has and will the other side of the aisle.
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Old 09-25-2011, 06:02 PM
 
Location: California
4,556 posts, read 5,474,724 times
Reputation: 9621
Quote:
Originally Posted by fisheye View Post
SS was never meant to be foreign aid: http://www.ssa.gov/immigration/extension.htm

The biggest problem is that our government loves to grab money from programs that work. If they collect our tax dollars to fund SS; the money should stay where it was meant to stay and support those that contributed. This isnít just a problem passed on by previous administrations - this particular problem is new legislation.

It doesnít seem to make any difference what party is in office. If there is money; somebody will go after it.

Good luck on your coming retirement.

Thanks for posting the link, it makes so glad I follow the rules and pay my fair share. This country so needs a hero.

I totally agree with you and feel really frustrated that the American tax payer is so disrespected, which is what the OP seems to express also.

When I was working, I quickly learned to never bring up a problem to the boss without having a solution in the other hand. We all see the many issues but can't seem to get the traction for a good solution.

Good luck to all Americans who worked hard and earned their benefits.
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