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Old 04-14-2015, 04:36 PM
 
2,296 posts, read 1,563,056 times
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Quote:
Originally Posted by TuborgP View Post
^^^^^^^^
Try being one of the many individuals who have pensions and MRD's exceeding 80k and who have paid into SS all their lives and live in a high COLA area. Try being someone who takes money out of their retirement savings to pay for a new roof or a car and as a result has a reduction in SS benefits.
Well, I'm going to do all I can to make sure his version doesn't fly in it's entirety anyway. Seems like raising FRA is the first thing to do. Folks who just had an average income could have taken their contributions and stuck it in an index fund or lesser for 40 years and had a couple of million..and now they get nothing for their contributions is ridiculous.
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Old 04-14-2015, 04:37 PM
 
Location: Secure, Undisclosed
1,984 posts, read 1,294,048 times
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In 1983, federal employees' pensions were cut to about 33% of the average of their top three (usually the last three) years' salary. They were told the other two thirds would come from their 401(k) and from SS. Smart government retirees wrote off any expectation of SS years ago.

True story about DD disability fraud: A pharmaceutical factory moved from Puerto Rico to Ireland some years back. Of the 350 or so employees who lost their job, about 321 of them immediately applied for Social Security disability - and got it!

When you hear about SS disability being empty in the next couple years, remember this story. This is why.
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Old 04-14-2015, 04:45 PM
 
Location: Baltimore, MD
3,745 posts, read 4,220,203 times
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Quote:
Originally Posted by TuborgP View Post
^^^^^^^^
Try being one of the many individuals who have pensions and MRD's exceeding 80k and who have paid into SS all their lives and live in a high COLA area. Try being someone who takes money out of their retirement savings to pay for a new roof or a car and as a result has a reduction in SS benefits.
But he said it would only affect 2% of beneficiaries. Will most Republicans care about the 2%?
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Old 04-14-2015, 04:54 PM
 
Location: Near a river
16,042 posts, read 18,985,208 times
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Quote:
Originally Posted by larsm View Post
What am I missing? The fact sheet suggests that the income means testing will affect all current and future SS recipients.
You missed this:

"This proposal will not impact current retirees, and will be phased-in gradually."
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Old 04-14-2015, 04:57 PM
 
2,296 posts, read 1,563,056 times
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Quote:
Originally Posted by newenglandgirl View Post
You missed this:

"This proposal will not impact current retirees, and will be phased-in gradually."
So I'm assuming as long as you take your SS before 2022, you won't be affected?
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Old 04-14-2015, 04:59 PM
 
48,516 posts, read 83,966,925 times
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But I don't see it not being optional legal wise for all if it ever got to legislation phase; which I doubt.
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Old 04-14-2015, 05:01 PM
 
29,782 posts, read 34,880,403 times
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Quote:
Originally Posted by lenora View Post
But he said it would only affect 2% of beneficiaries. Will most Republicans care about the 2%?
More than 2 percent of retirees in NJ have incomes independent of SS above 89k. Especially the pensioners he hates
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Old 04-14-2015, 05:03 PM
 
Location: Baltimore, MD
3,745 posts, read 4,220,203 times
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Quote:
Originally Posted by Burkmere View Post
Well, I'm going to do all I can to make sure his version doesn't fly in it's entirety anyway. Seems like raising FRA is the first thing to do. Folks who just had an average income could have taken their contributions and stuck it in an index fund or lesser for 40 years and had a couple of million..and now they get nothing for their contributions is ridiculous.
Do you prefer this version?

"We also need to look at how we calculate initial benefits. Social Security needs to provide a stronger safety net for those at the bottom of the income scale. When my parents retired, they didnít have a nest egg of savings to rely upon. They leaned on Social Security to help them through Ė in fact, my mom still does. We need to make sure that seniors like my parents Ė who worked low wage jobs their whole lives Ė arenít consigned to poverty in old age.

On the other end, however, are retirees with very high-incomes. For wealthy retirees, their monthly Social Security benefit is a less significant portion of their monthly finances. The answer is to reduce the growth of benefits for these upper income seniors while making the program even stronger for lower income seniors. This isnít a cut, itís simply a reduction in how fast the benefit will increase for wealthier retirees." ~ Republican Presidential Candidate Marco Rubio

Press Releases - Newsroom - U.S. Senator for Florida, Marco Rubio

That leaves Rand Paul, Ted Cruz and maybe Jeb Bush. All three have a record re: Social Security. This is going to be an interesting year, after all.

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Old 04-14-2015, 05:03 PM
 
29,782 posts, read 34,880,403 times
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Quote:
Originally Posted by Burkmere View Post
So I'm assuming as long as you take your SS before 2022, you won't be affected?
That's when he would raise the retirement age
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Old 04-14-2015, 05:03 PM
 
Location: The New England part of Ohio
18,678 posts, read 23,263,761 times
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Quote:
Originally Posted by TuborgP View Post
Sooner than many of you may think, means testing could be in your life if Chris Christie is elected president.

NJ Gov. Chris Christie proposing overhaul of Social Security benefits in New Hampshire speech | Fox Business

The Republican is set to deliver a speech Tuesday in New Hampshire outlining his ideas on reforming Social Security, Medicare and Medicaid and other so-called "entitlement" programs.

Christie will propose phasing out Social Security payments for those making more than $80,000 in other income, and eliminating them for those making $200,000 or more a year.

Christie's political action committee released excerpts before the speech. It's part of an effort to frame Christie as a politician who's unafraid to share "hard truths."

Hmm so is that 80k individual or 80k couple?
What are your thoughts on this specific proposal?

Christie is as sleazy a politician as you will find anywhere.

Social Security accounts belong to the worker to whom they were issued. Not to the SSA or to the government.

What do I think? I thinks it's Christie mouthing off as usual.
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