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I think it's funny that you started out saying you don't want to discuss politics and then...discussed politics.
Actually the Congress Legislates and the President executes the laws...at least that's how our government is supposed to work. No matter who is elected, they need the legislature to pass legislation they like. Most of those Presidential candidates will not be able to deliver 10% of what they're promising (lying) to do.
In the big picture, the problem is the Baby Boomer generation is retiring and there will be less workers compared to retirees....that's a huge impact on either the amounts being paid to retirees and/or the amounts being charged to workers....gotta work through that in the coming decades no matter who is elected or what they've promised (lied).
At the risk of being 'political,' I worry that Trump will actually try to do some of the things he says and become even more of a power grabber than the current White House occupant if he doesn't get what he wants from Congress and he won't get approval from Congress on most of his initiatives. If getting the mic to be a blowhard is sufficient for Trump, then I'm okay with him having the WH keys. If he starts writing Executive Orders beyond the intended scope of the Office, gonna be scary.
At the risk of being 'political,' I worry that Drumpf will actually try to do some of the things he says
That's a legitimate complaint that should be taken to the POC forum. But since you brought it up, just saying, Trump is the only current candidate who has zero political history or record and therefore the electorate has no clue what he will or won't do..
For those of us who are already retired and over 65, I don't think we'll be affected very much by who wins. The most effect some of the candidates would have is that they would be sickening to watch and it would be upsetting to see what they do to the country and the unfortunate legacy that they will leave.....
That is my view basically.
I have two thoughts:
1. I am in my late seventies, and in ill health and will probably live five years more at the most. My income (SS, private pension, etc. no investments) originates in the U.S., but is all transferred to my foreign country of residence.
2. The U.S. turned a very bad corner in the 80's and has steadily deteriorated as a government and a society, and at this point it is broken and dangerous...to itself and the world.
Despite #1 I thoroughly enjoy life and have the pleasure and luck to live in a wonderful place, and in modest comfort. My focus is the natural world around me, the occasional company of good friends of several nationalities and others on the internet, and the profound enjoyment of good literature and music. The U.S. election is unlikely to have direct impact on this.
As for #2, unless the U.S. begins engaging in wild military adventurism and ignites catastrophic wars, what it does will not matter in the time that is left to me.
On a personal level the entire woeful spectacle is just a fart in a jug to me.
Well, politics is all about economics and the initial question was one inquiring about which candidate may have the greatest impact on us seniors. Yeah, things can go too far in some political discussions but so far this has been instructive for me, seeing that the future for us, in many cases, is dependent upon the political winds and whether they will be favorable to us, or not.
I don't think we need to get into the fray of candidate personalities, but moreover, the view of our two major parties and their platform with regard to those benefits we have become reliant on.
Oh the President may propose something and may even submit something regarding SS/medicare.
But ultimately it is Congress that writes and passes the laws.
And, as with any financial crisis, Congress will wait until the 11th hour and claim there is no time to really fix anything and will apply a bandaid.
That's what they did with SSDI. They waiting until the last minute. No real fixes..just move more money from FICA to SSDI which shortened the SS crisis date.
Doesn't matter who lives in the White House the next cycle. Taxes will go up and services will go down. The unwillingness of the two major political parties to work with each other crafting reasonable legislation will continue. Best way to 'adapt' is to minimize personal debt and think twice about frivolous spending.
..........As a retiree, I have certain needs and expectations from government. I need to see social security remain viable. I need to see Medicare/Medicaid remain intact. Even with the current programs I have concerns about healthcare costs. My supplement and out of pocket costs are very high. The future need for skilled nursing care is always a possible concern. In addition to social security and healthcare costs, many of us are also dependent on withdrawals and returns on our investments. Also I live in a very high cost area. To some extent my income matches those costs but I am also at risk for seeing some of my costs increase and for seeing additional taxation..........
I'm retired, and I don't understand this at all.
*In the first place my supplement is not all that bad; about 150/month.
*In the second place my supplement covers all my out of pocket expenses. That's why I pay for it. So I don't have any interests in what health care cost might be.
Return on investment might be a concern, but who in the world can link return on investment to a particular candidate or president? I don't think the president has much to do with ROI. Certainly doesn't with us.
Same with "high cost areas". The person living in the White House will have no effect on the cost of living in either San Fransisco, or Loachapoka, Alabama. They've been trying for years to convince us otherwise, but I don't buy it.
*In the first place my supplement is not all that bad; about 150/month.
*In the second place my supplement covers all my out of pocket expenses. That's why I pay for it. So I don't have any interests in what health care cost might be.
Return on investment might be a concern, but who in the world can link return on investment to a particular candidate or president? I don't think the president has much to do with ROI. Certainly doesn't with us.
Same with "high cost areas". The person living in the White House will have no effect on the cost of living in either San Fransisco, or Loachapoka, Alabama. They've been trying for years to convince us otherwise, but I don't buy it.
I have no idea what sort of supplemental insurance you have. Certainly living in Mississippi must keep costs down. My wife and I pay about $4000/year deducted from social security for our Medicare and prescription drug plans. In addition when we moved from South Dakota to New York our AARP/United Healthcare supplemental plan increased from $4000 to $6000/year. So now we plan a total of $10000/year but Wait there is more. Medical travel costs, the donut hole and other out of pocket expenses have taken the total to $20000/year. That has been the total medical deduction for each of my last three tax years.
I think ROI can indeed vary greatly due to government action. The other big factor is taxation. Hillary and Bernie both want to increase capital gains taxes. That will have a major effect in reducing my income because I need to sell down my portfolio to pay my expenses. Kasich even wants to cut social security payments. That is very scary for those of us who have a lot of reliance on that money.
It seems that you have no idea about living in a high cost area. Typically someone in Mississippi cannot comprehend property taxes of $10,000-15,000/year on a modest 3 bedroom house. Of course there is also a snowball effect. Because it is already expensive then costs of services go way up because those providing the services need to cover their costs of living in a high cost area. In case you did not notice, income taxes are very progressive. Those of us living in a high cost area need bigger incomes which are then taxed at a higher rate. The snowball just continues to grow.
I have no idea what sort of supplemental insurance you have. Certainly living in Mississippi must keep costs down. My wife and I pay about $4000/year deducted from social security for our Medicare and prescription drug plans. In addition when we moved from South Dakota to New York our AARP/United Healthcare supplemental plan increased from $4000 to $6000/year. So now we plan a total of $10000/year but Wait there is more. Medical travel costs, the donut hole and other out of pocket expenses have taken the total to $20000/year. That has been the total medical deduction for each of my last three tax years.
I think ROI can indeed vary greatly due to government action. The other big factor is taxation. Hillary and Bernie both want to increase capital gains taxes. That will have a major effect in reducing my income because I need to sell down my portfolio to pay my expenses. Kasich even wants to cut social security payments. That is very scary for those of us who have a lot of reliance on that money.
It seems that you have no idea about living in a high cost area. Typically someone in Mississippi cannot comprehend property taxes of $10,000-15,000/year on a modest 3 bedroom house. Of course there is also a snowball effect. Because it is already expensive then costs of services go way up because those providing the services need to cover their costs of living in a high cost area. In case you did not notice, income taxes are very progressive. Those of us living in a high cost area need bigger incomes which are then taxed at a higher rate. The snowball just continues to grow.
That's why most retirees move from high cost areas to low cost areas.
That high cost will only go higher as the years go by and most retirees are on fairly fixed incomes.
When I first moved to the Austin area in 1996 my taxes were $2K on 6 acres.
When I left in 2010 the taxes were $7K.
Now they are $11K.
I moved to a county without a big urban city. My taxes are back down to $2K.
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