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Old 09-02-2012, 03:36 PM
 
Location: Ponte Vedra Beach FL
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What % would you be willing to give up to insure the solvency of your pension/SS for - say - perhaps the next 20-30 years (at which point most of us will probably be dead). My husband and I get SS - no government pension. Would be willing to give up something - but would not be willing to be "means tested" into nothing. Robyn
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Old 09-02-2012, 04:07 PM
 
Location: SoCal desert
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Not one single cent.

0%
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Old 09-02-2012, 04:19 PM
 
Location: Lexington, SC
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I think one way to help SS is to offer some people on it who earned it, like it, and are fairly entitled to it (like myself), but are not dependent on it (like myself), some options.

Like us do some horse trading. An example. One could forego SS cost of living increases in exchange for say tax free/reduced investment sales. Let us say one has stock they would like to sell but will have to pay capital gains on profit made. SS makes a deal that if you forego SS cost of living for X years, you will only have to pay Y capital gains on the sale of your stock.

Along the lines of the home sale capital gains exemption.

It would not apply to all investments such as IRA's as you took the tax deduction going in so you have been "helped" already.

One of the things stopping SS reform is the concern about those dependent on it and those not dependent on it. This type plan does not hurt those dependent on SS but it might help SS be more stable by helping/limiting those not dependent on it thus aiding those dependent on it.

Food for thought.
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Old 09-02-2012, 07:04 PM
 
9,191 posts, read 9,269,502 times
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I'd be willing to give up 10%. However, I think it might make more sense to just skip a couple of COL increases that are regularly built in to the system. I also think increasing payroll taxes is a a better long run option. Unfortunately, tax increases of any kind seem totally unpopular these days. I'll pay my share.
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Old 09-02-2012, 07:18 PM
 
Location: Los Angeles area
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I'd be willing to give up my entire monthly Social Security benefit (currently $146 including the portion deducted for Medicare Part B) and pay the $99 per month Medicare out of pocket provided that I didn't have to also give up my Medicare eligibility.
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Old 09-02-2012, 07:19 PM
 
29,775 posts, read 34,863,854 times
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Quote:
Originally Posted by accufitgolf View Post
I think one way to help SS is to offer some people on it who earned it, like it, and are fairly entitled to it (like myself), but are not dependent on it (like myself), some options.

Like us do some horse trading. An example. One could forego SS cost of living increases in exchange for say tax free/reduced investment sales. Let us say one has stock they would like to sell but will have to pay capital gains on profit made. SS makes a deal that if you forego SS cost of living for X years, you will only have to pay Y capital gains on the sale of your stock.

Along the lines of the home sale capital gains exemption.

It would not apply to all investments such as IRA's as you took the tax deduction going in so you have been "helped" already.

One of the things stopping SS reform is the concern about those dependent on it and those not dependent on it. This type plan does not hurt those dependent on SS but it might help SS be more stable by helping/limiting those not dependent on it thus aiding those dependent on it.

Food for thought.
I have no problem with your plan but others would. It protects seniors at the expense of other programs and people by lowering tax revenues and decreasing the general fund.
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Old 09-02-2012, 07:22 PM
 
29,775 posts, read 34,863,854 times
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Quote:
Originally Posted by markg91359 View Post
I'd be willing to give up 10%. However, I think it might make more sense to just skip a couple of COL increases that are regularly built in to the system. I also think increasing payroll taxes is a a better long run option. Unfortunately, tax increases of any kind seem totally unpopular these days. I'll pay my share.
Perhaps a middle ground would be not to means test benefits but rather to means test the COLA and percentage actually given. This could be done based on your previous years income but that is full of loopholes for the wealthy.
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Old 09-02-2012, 07:37 PM
 
Location: Florida -
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I would be willing to give all of the SS up .... say, in exchange for the hard-earned money we've paid into the program over the past 40-years ... even without interest. But, that doesn't seem to be an alternative ... any more than whether or not we want to 'bail out' any of the other expensive programs our illustrious politicians have contrived over the years. Remember, the real problem isn't with the solvency of the SS program, but, with the fact that the government has 'borrowed' the SS money for many years and used it on other things ... replacing the dollars with IOU's!
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Old 09-02-2012, 07:42 PM
 
9,191 posts, read 9,269,502 times
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Quote:
I would be willing to give all of the SS up .... say, in exchange for the hard-earned money we've paid into the program over the past 40-years ... even without interest. But, that doesn't seem to be an alternative ... any more than whether or not we want to 'bail out' any of the other expensive programs our illustrious politicians have contrived over the years. Remember, the real problem isn't with the solvency of the SS program, but, with the fact that the government has 'borrowed' the SS money for many years and used it on other things ... replacing the dollars with IOU's!
I frequently hear this. However, we can't change the past. What do you recommend we do about it other than complain?
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Old 09-02-2012, 08:03 PM
 
29,775 posts, read 34,863,854 times
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Quote:
Originally Posted by markg91359 View Post
I frequently hear this. However, we can't change the past. What do you recommend we do about it other than complain?
Gradually up the retirement age and up the income cap with a pro rated increase in benefits over the cap.
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