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Old 01-09-2016, 03:18 PM
 
Location: SoCal
13,235 posts, read 6,335,450 times
Reputation: 9854

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I've been working on less than minimum wage recently. 4 hours of playing poker and only won $17. That works out to less than $5 an hour and my back hurts.
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Old 01-09-2016, 03:20 PM
 
Location: Central NY
4,671 posts, read 3,246,905 times
Reputation: 11956
^^^^ See if the comedy club is hiring.
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Old 01-09-2016, 03:20 PM
 
Location: Great State of Texas
86,093 posts, read 72,515,954 times
Reputation: 27566
Quote:
Originally Posted by IDtheftV View Post
Cash flow negative is insolvent, not solvent. The system is based on cash-basis funding.

To make matters worse, people are always pointing to a "Trust Fund" that will pay out benefits that will make everything OK. There is no Trust Fund. It's a big fiction to make the hard choices that were necessary easy to put off.
Cash flow is not negative, not until 2019 when expenditures exceed income.


https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html
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Old 01-09-2016, 03:43 PM
 
13,909 posts, read 7,411,228 times
Reputation: 25410
Quote:
Originally Posted by HappyTexan View Post
Cash flow is not negative, not until 2019 when expenditures exceed income.


https://www.ssa.gov/policy/docs/ssb/v75n1/v75n1p1.html
It's creative accounting. They are counting "interest income" from the money the trust fund has "lent" to the Federal government. If all you count is payroll tax revenue, it's negative cash flow.
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Old 01-09-2016, 03:46 PM
 
Location: SW Florida
9,759 posts, read 7,038,572 times
Reputation: 14295
Quote:
Originally Posted by Design52 View Post
I see a lot of people posting here saying they retired at 55 - 62.


What do you do for medical insurance until Medicare kicks in at 65?


For me, retirement before 65 wouldn't be a problem with the money (having a small pension and decent 401k savings) until I factor in private medical insurance for say, 5 years. Then it sucks.


Hate the idea of having to work until age 65 just for medical coverage when otherwise it could have been age 60.
But it is the reality for lots of people.
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Old 01-09-2016, 03:59 PM
 
Location: Los Angeles area
14,018 posts, read 17,740,386 times
Reputation: 32304
Quote:
Originally Posted by GeoffD View Post
It's creative accounting. They are counting "interest income" from the money the trust fund has "lent" to the Federal government. If all you count is payroll tax revenue, it's negative cash flow.
It's not "creative" accounting, it's straight-forward, normal accounting. All federal bonds pay interest. It's the cost of incurring debt, and it doesn't matter whether the purchaser of the bond was an individual, a foreign government, or the Social Security system in times of surplus payroll tax revenue.
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Old 01-09-2016, 04:04 PM
 
Location: Central NY
4,671 posts, read 3,246,905 times
Reputation: 11956
Travelassie: Your statement "But it is a reality for lots of people" is so correct. I agree 100% but unfortunately there are some who don't seem to understand that.

Everyone's reality is different. If you were lucky enough to have a great job, get a pension, save for IRA (or whatever plan), and kept working steadily all those years, then you no doubt have a golden retirement. No problem. And congratulations.

The issue that is digging at me is how condescending some of you can be when you tell someone they must have been lazy, weren't ambitious enough, didn't try hard enough.

My question to you is this: how the h**l do you know someone else's circumstance? Have you been living in their pocket all this time? Are you assuming (and we all know what that does).

It seems to be very hard for some people who have been fortunate enough to have much to try to understand that not everyone has the same "breaks" as you have had. There are many who have had all sorts of problems, none of them being because they are lay-abouts, lacking ambition. Have you considered serious illness in a family member when insurance does not cover entire expense? Or how about someone whose job was discontinued and they are out of work for years? Good jobs have been hard to come by. Sometimes if a person can grab a small wage job, they do it because that is all that has been available to them. Not because that was all they wanted or needed.

I think it would be nice if everyone could find some compassion and understand people. Not everyone should be labeled as some of you seem to want to do. It is never too late to learn that.
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Old 01-09-2016, 05:09 PM
 
197 posts, read 160,967 times
Reputation: 1122
Quote:
Originally Posted by mathjak107 View Post
not if it is the closed mind of our resident pauper
It is true that the poster to whom you refer is the czar of excuse making but to give him credit, as much as other posters respond to his posts with snarky one liner put downs , this poster does not rise to the bait and reply in kind.

IMO this restraint is in his favour.
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Old 01-09-2016, 05:47 PM
 
71,626 posts, read 71,777,271 times
Reputation: 49225
he used to but when everything is a fact what can you answer. this is all based on his own words . remember we don't know him .
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Old 01-09-2016, 06:02 PM
 
13,909 posts, read 7,411,228 times
Reputation: 25410
Quote:
Originally Posted by mathjak107 View Post
he used to but when everything is a fact what can you answer. this is all based on his own words . remember we don't know him .
Anybody who adds nothing to the conversation but "I was pre-law, didn't go to law school, am saddled with school loans, and work a low wage job" is kind of inviting the snarky 1-liner put-downs.
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