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Old 08-14-2014, 01:27 PM
 
Location: Orange County, CA
3,730 posts, read 5,280,920 times
Reputation: 4188

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Quote:
Originally Posted by Gandalara View Post
And after 5 years of receiving the $40K ... it's off to the soylent green factory.
Before that happened I would just go to the racetrack and blow the dough on the horses, and then fly Over The Rainbow to Oz before they could get me. I would become king of the Munchkins, marry the Good Witch, and adopt Dorothy and Toto.
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Old 08-14-2014, 02:01 PM
 
Location: Delray Beach
1,136 posts, read 1,439,949 times
Reputation: 2510
This idea stinks because it has a fatal flaw - it's NOT INDEXED to the CPI!
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Old 08-14-2014, 02:39 PM
 
12,973 posts, read 12,792,417 times
Reputation: 5420
Quote:
Originally Posted by Dd714 View Post
See the post right before yours. Eliminating, not a war, but the entire total military budget wouldn't come close to meeting this proposal.

Let's face it - the "guns vs. butter" or "tax the rich" argument does not apply to this proposal because it's so out of whack with reality.
Again you are all taking it too literally. It can be some sum rather than $40,000. It can be indexed to the CPI, it can be taxed...etc.

It is actually pretty close to the deal provided in some countries. Sweden for example guarantees income at about 60% of the median.
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Old 08-14-2014, 02:41 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
Reputation: 32304
Quote:
Originally Posted by tjarado View Post
This idea stinks because it has a fatal flaw - it's NOT INDEXED to the CPI!
The poster who proposed this in another thread in the Retirement Forum included in the proposal a 5% annual COLA. I would have copied and pasted that post, but it was by someone whom I have on ignore and I only read about it because it was quoted by someone else. Sure, I could have removed the poster from my ignore list long enough to copy and paste, then put him or her back on ignore, but there are some people who are snide and rude and negative enough that I don't even want to see their user names or deal with them in any way.
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Old 08-14-2014, 03:40 PM
 
12,292 posts, read 18,413,572 times
Reputation: 19160
Quote:
Originally Posted by lvoc View Post
Again you are all taking it too literally. It can be some sum rather than $40,000. It can be indexed to the CPI, it can be taxed...etc.

It is actually pretty close to the deal provided in some countries. Sweden for example guarantees income at about 60% of the median.
I am taking it literally because the proposal was very specific, there is no other way to take it. If you are proposing some other formula then we are just talking about a variation of the existing social security program. If we do that we should just start another topic on...yup, revamping the social security system.
Sweden's social security program is funded by a huge tax rate which they are able to afford, having an export-based economy in a mineral-rich country, with a homogenious population. In other words, it's unique and would not work in the US. Our social security program in the US which includes old age benefits are funded by current contributions. Even the current social security program has been deemed as unsustainable, and I think we all realize at this point reality - that benefits will be less, not more, and retirement ages will increase. - But again, we are off topic in my opinion.
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Old 08-14-2014, 04:46 PM
 
12,973 posts, read 12,792,417 times
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Quote:
Originally Posted by Dd714 View Post
I am taking it literally because the proposal was very specific, there is no other way to take it. If you are proposing some other formula then we are just talking about a variation of the existing social security program. If we do that we should just start another topic on...yup, revamping the social security system.
Sweden's social security program is funded by a huge tax rate which they are able to afford, having an export-based economy in a mineral-rich country, with a homogenious population. In other words, it's unique and would not work in the US. Our social security program in the US which includes old age benefits are funded by current contributions. Even the current social security program has been deemed as unsustainable, and I think we all realize at this point reality - that benefits will be less, not more, and retirement ages will increase. - But again, we are off topic in my opinion.
Again it becomes a different plan if only $39,900 is paid?

The Swedes are not nearly as well off as we Americans...perhaps 80% of the US GDP per capita. And they are guaranteeing for everyone about $25,000. It is of course not that simple but it is certainly in that direction.
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Old 08-14-2014, 05:30 PM
 
Location: Maui County, HI
4,131 posts, read 6,307,265 times
Reputation: 3364
We already give seniors Social Security benefits and free health insurance (contrary to popular belief it's not the money you paid in). What about me? I'm a tech professional and I make $36000 which is $1180 take home pay each pay period. I have to borrow money to survive. Why don't you give me something?
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Old 08-14-2014, 05:47 PM
 
12,292 posts, read 18,413,572 times
Reputation: 19160
Quote:
Originally Posted by lvoc View Post
Again it becomes a different plan if only $39,900 is paid?

The Swedes are not nearly as well off as we Americans...perhaps 80% of the US GDP per capita. And they are guaranteeing for everyone about $25,000. It is of course not that simple but it is certainly in that direction.
$40k paid, $39k paid, $390k paid, $3.9k paid, $3.9m paid, to each person over 65, it doesn't matter - if it's not funded it's not sustainable, and it becomes a fairytale. Case closed. Move on.
Sweden is not the US. I told you why, and I don't appreciate explaining why again. Case closed. Move on.
Open up another thread/debate on totally dropping and revising the old age benefits of the US social security system, as well as other entitlement programs, and then we can talk.
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Old 08-14-2014, 07:24 PM
 
12,973 posts, read 12,792,417 times
Reputation: 5420
Quote:
Originally Posted by Dd714 View Post
$40k paid, $39k paid, $390k paid, $3.9k paid, $3.9m paid, to each person over 65, it doesn't matter - if it's not funded it's not sustainable, and it becomes a fairytale. Case closed. Move on.
Sweden is not the US. I told you why, and I don't appreciate explaining why again. Case closed. Move on.
Open up another thread/debate on totally dropping and revising the old age benefits of the US social security system, as well as other entitlement programs, and then we can talk.
Well you are strongly opinionated but way short in the facts department.

Fact - A smaller Scandinavian government with well less resources than possessed by the USA is able to provide a guaranteed income to all adults...working or not... at about $25,000.

The Question then is should the US be entertaining that sort of direction for the US social system?-

There maybe reasons it can't work here...but a strongly held belief is not such a reason.
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Old 08-14-2014, 07:50 PM
 
Location: Miraflores
786 posts, read 893,939 times
Reputation: 1531
I'd be fine if they added another zero to my social security check and then just added another zero to the national debt and nobody would probably notice.
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