News, Social Security heading for insolvency even faster.

[jefffla01]

There have been a ton of very thorough and doable social security fixes put forward------as usual the political process is contaminated by the impersonators in congress on both sides of the political aisle.

The ss dilemma can be assisted by raising the retirement age for full benefits to 69 or 70-----doing away with ss benefits for the wealthy----a modest increase in ss taxes------reducing benefits for future retirees by maybe 11 or 12%------means testing for future retirees-----giving future retirees the option to opt out and have their ss contributions avialable for self investment ect........

This country is now clearly in a state of total gridlock. It has been the great insight and unity shown by past leaders that have made this nation great-------the roadmap to greatness has been paved by leaders who given up arrogance, narrow minded idealogy, and foolish pride all for the welfare of this nation.

Those days have vanished------we now have a dog and pony show run by our congressional leaders who place more empasis on dogma and slogans than on reality and solutions.

We can fix our problems with people who really care about this country. I am not blaming repubs or dems--------the entire process is contaminated now.

Vote carefully the fall on both the Prez and congressional leaders. Judge whether they want to solve our problems or if they want to continue this game of idealogy and chicken. Any candidate who I feel is stonewalling the process with slogans and gamesmanship is I hope sent back to their former occupation.

[cdelena]

Originally Posted by jefffla01

...
The ss dilemma can be assisted by raising the retirement age for full benefits to 69 or 70-----doing away with ss benefits for the wealthy----a modest increase in ss taxes------reducing benefits for future retirees by maybe 11 or 12%------means testing for future retirees-----giving future retirees the option to opt out and have their ss contributions avialable for self investment ect........
...

Some of the reasons this is not that easy is because the politicians and the citizens don't have a clear idea on what the SS program is supposed to be.

Is it a mandatory retirement program or is it a public safety net for those did not (for any number of reasons) provide for an income stream in their old age?

If it is a mandatory retirement program with stated contributions and stated distributions it is simply theft if the distributions are curtailed for any reason.

If it is a tax funded safety net it needs to provide only modest benefits to those in need (obviously not to the well off), more of a welfare program for the elderly.

But instead we have confused the issues and want to sell it as retirement program where you contribute and then receive benefits, and then the politicians want to administer it as a welfare program where the successful savers no longer qualify.

I believe the governments (mostly because they are run by politicians) are too conflicted and incompetent to run these programs. Options may be that lightly regulated financial companies could offer annuities for any mandatory retirement programs and welfare programs could be used to offer vouchers as a safety net.

Obviously a transition from one mindset and plan to another will take time but we are certainly headed into a real death spiral on the current path.

[mathjak107]

all they have to do is close some of the loopholes that suck big dollars out of the plan like file and suspend and they can save millions. dont get me wrong i love the idea but the fact is luxury options like this in a bankrupt plan just should be done away with.

[StealthRabbit]

Originally Posted by cdelena

...
I believe the governments (mostly because they are run by politicians) are too conflicted and incompetent to run these programs. Options may be that lightly regulated financial companies could offer annuities for any mandatory retirement programs and welfare programs could be used to offer vouchers as a safety net.

Obviously a transition from one mindset and plan to another will take time but we are certainly headed into a real death spiral on the current path.

OK, so now I need to add SSA and Medicare/aid to my existing list of: USA EDU and HEALTHCARE; services to be outsourced" to foreign countries that have a proven track record of success.'

I think we could use this method to pay down debt, by offering as an incentive 'Cost savings rebates' to the managing countries.

I will agree that the USA has fled far from the political 'service' model where successful business persons did a 'volunteer' (thus time constrained) stint in USA Political leadership.

Career politicians may have reason to disagree

[Curmudgeon]

Career politicians care about one thing and one thing only, their re-election or the next higher office. Gone are the days when they cared about their country.

I, for one, would trust them only to sell our country to the highest bidder.

More than any others it's up to us of certain ages to stop them. Younger generations know nothing else.

Seniors/retirees unite!

[Ariadne22]

There is plenty of discussion every day on C-Span on the crookedness of our Congress and the system generally. Most every elected official has their eye on the next election, going along to get along (with their party), most of them putting the welfare of the country and doing the right thing in the "not an option" category. People know what is wrong with the system. And, yet, the elections do nothing but perpetuate the problem.