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Old 12-02-2016, 07:39 AM
 
Location: Near a river
16,042 posts, read 18,973,893 times
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I think the very thought of reductions or drastic changes to Social Security, if they do indeed impact the already-retired, should have many of us (who are not substantially wealthy) thinking what to do with our housing and investments. As for housing, sell down now and extract the equity? Smaller quarters in more affordable places? If, hypothetically, those already receiving (and depending on) SS should no longer have it, that would constitute a crisis, so perhaps we should hedge our bets and go into some serious planning and change now.

 
Old 12-02-2016, 07:52 AM
 
Location: Tennessee
23,579 posts, read 17,561,360 times
Reputation: 27660
Quote:
Originally Posted by RiverBird View Post
I think the very thought of reductions or drastic changes to Social Security, if they do indeed impact the already-retired, should have many of us (who are not substantially wealthy) thinking what to do with our housing and investments. As for housing, sell down now and extract the equity? Smaller quarters in more affordable places? If, hypothetically, those already receiving (and depending on) SS should no longer have it, that would constitute a crisis, so perhaps we should hedge our bets and go into some serious planning and change now.
That is taking a severe reaction for something he has pledged to largely keep as-is, maybe improve.

I am not sure where this gets lost, but Trump is not a "government so small you can drown it in the bathtub" conservative. He is a big government Republican. Yes, some of his appointees are concerning for advocates of SS as-is, but they are basically as expected for a Republican administration - those who are not, like Bannon, are actually far more populist than mainstream Republicans. The libertarian wing, like Paul and Amash, who probably would eviscerate SS, are not well represented in the Trump administration.
 
Old 12-02-2016, 08:02 AM
 
Location: Near a river
16,042 posts, read 18,973,893 times
Reputation: 15649
Quote:
Originally Posted by Serious Conversation View Post
That is taking a severe reaction for something he has pledged to largely keep as-is, maybe improve.

I am not sure where this gets lost, but Trump is not a "government so small you can drown it in the bathtub" conservative. He is a big government Republican. Yes, some of his appointees are concerning for advocates of SS as-is, but they are basically as expected for a Republican administration - those who are not, like Bannon, are actually far more populist than mainstream Republicans. The libertarian wing, like Paul and Amash, who probably would eviscerate SS, are not well represented in the Trump administration.
I hear you. And it's never a good idea to make knee-jerk decisions based on fear. However, it's always a good idea to know what we'd do if we recognize far enough in advance of a shtf.
 
Old 12-02-2016, 08:08 AM
 
Location: NYC
2,907 posts, read 1,586,973 times
Reputation: 7951
Quote:
Originally Posted by RiverBird View Post
I must have missed that. When and how?
I suspect that they are referring to the notion that Obama endorsed, & most Dems opposed, of connecting SS COLAs to the "Chained" CPI (CCPI) number, I forget the details but, to cut to the chase, it doesn't rise as high as the CPI does for COLA increases. It was one of the Republican proposed ideas that he adopted.
 
Old 12-02-2016, 08:23 AM
 
1,187 posts, read 663,585 times
Reputation: 4119
Quote:
Originally Posted by RiverBird View Post
I hear you. And it's never a good idea to make knee-jerk decisions based on fear. However, it's always a good idea to know what we'd do if we recognize far enough in advance of a shtf.
I agree, planning is more important now more than ever as the rug could be pulled out from under seniors. We are not as concerned about SS right now as we are about Medicare. Unless the election in 2018 changes the balance of power in Congress or at least the House, we are planning on having to pay much, much more.

If you have read Paul Ryan's "A Better Way" plan for what he calls "entitlements", it projects a very scary road for seniors. I don't believe that Medicare will not be touched for current recipients. Without support it will shrivel.

Hmmm, I seem to remember contributing to "entitlements" since my first job in the 1960s so that is a strange use of the word to me. Since Paul Ryan plus his mother and siblings received Social Security payouts after his dad died when he was 16, I would think he would be more sympathetic to the worth of these programs.

Sadly, nothing can surprise me at this point. Hopefully the House minority's leadership can hold the line for us.
 
Old 12-02-2016, 09:21 AM
 
29,779 posts, read 34,863,854 times
Reputation: 11705
Quote:
Originally Posted by shamrock4 View Post
I agree, planning is more important now more than ever as the rug could be pulled out from under seniors. We are not as concerned about SS right now as we are about Medicare. Unless the election in 2018 changes the balance of power in Congress or at least the House, we are planning on having to pay much, much more.

If you have read Paul Ryan's "A Better Way" plan for what he calls "entitlements", it projects a very scary road for seniors. I don't believe that Medicare will not be touched for current recipients. Without support it will shrivel.

Hmmm, I seem to remember contributing to "entitlements" since my first job in the 1960s so that is a strange use of the word to me. Since Paul Ryan plus his mother and siblings received Social Security payouts after his dad died when he was 16, I would think he would be more sympathetic to the worth of these programs.

Sadly, nothing can surprise me at this point. Hopefully the House minority's leadership can hold the line for us.
I think he is sympathetic to the worth of SS and Medicare and that is why he wants to preserve them. He is not the one to worry about as much as those who want to eliminate for reasons of ideology
 
Old 12-02-2016, 09:27 AM
 
29,779 posts, read 34,863,854 times
Reputation: 11705
Quote:
Originally Posted by Serious Conversation View Post
How many common people on the street agree with this? Very, very few. I'm not sure whether Trump does or not, but he talked a good game on it. So did Sanders.
I agree with it along with many other investors and if those with pension funds reallybthoughtvsboutbitbtjeu might also. Shareholder value is key to retirements based on pensions, investments and yes home equity. Heck most job creation is driven by the effort to increase profits and shareholder value.

It sounded like a cruel statement but when the question was asked:

When was the last time a poor person gave you a job?

Did we really think about it?

I know and recognize I have multiple cross currents that could cause me to have different opinions. However at this point I am aware of which cross currents will impact me the most
 
Old 12-02-2016, 09:32 AM
 
29,779 posts, read 34,863,854 times
Reputation: 11705
Quote:
Originally Posted by loves2read View Post
This country is NOT bankrupt...
But if Trump is allowed to run up deficits trying to build up,the military and create mass infrastructure projects w/o adequate and meaningful tax levies to,offset spending you will see a huge growth in the deficit and the prospect of a truly dark recession...

Trump will give you a bankrupt America if he and his cronies actually create the tax "relief" he promises...
Others would say without substantial budget cuts elsewhere. That is why the concern because people think they won.
 
Old 12-02-2016, 09:33 AM
 
29,779 posts, read 34,863,854 times
Reputation: 11705
Quote:
Originally Posted by loves2read View Post
This country is NOT bankrupt...
But if Trump is allowed to run up deficits trying to build up,the military and create mass infrastructure projects w/o adequate and meaningful tax levies to,offset spending you will see a huge growth in the deficit and the prospect of a truly dark recession...

Trump will give you a bankrupt America if he and his cronies actually create the tax "relief" he promises...
Quote:
Originally Posted by loves2read View Post
Trump doesn't care about Citizens Inited except as a donors' list for the Inauguration events...
But congress has to initiate and pass legislation. Remember the RNC chair and head fund raiser is now chief of staff and controls access to the president and may schedule who gets to play golf with him at a resort run by his children
 
Old 12-02-2016, 09:58 AM
 
Location: Tennessee
23,579 posts, read 17,561,360 times
Reputation: 27660
Quote:
Originally Posted by TuborgP View Post
I agree with it along with many other investors and if those with pension funds reallybthoughtvsboutbitbtjeu might also. Shareholder value is key to retirements based on pensions, investments and yes home equity. Heck most job creation is driven by the effort to increase profits and shareholder value.

It sounded like a cruel statement but when the question was asked:

When was the last time a poor person gave you a job?

Did we really think about it?

I know and recognize I have multiple cross currents that could cause me to have different opinions. However at this point I am aware of which cross currents will impact me the most
I'm honestly not worried.

Seniors have dealt with ZIRP now for years where risk-averse are yielding basically nothing. Medical costs have skyrocketed, but health care inflation at least seems to be slowing. How long did SS go without a COLA? We've been rocked by everything from astronomically high gas and food prices (2008) to market swoons (2009) to rapid market rises. Some areas are better off than they've ever been, others have been in the pits.

In many ways, the last eight years have been this weird combo of an economy that, by the numbers, looks healthy, but appears to be stuck in neutral for most people on the street, and wild gyrations and upheavals. Virtually no one in my immediate family or social circle has had much change, positive or negative, since 2008. We are just in doldrums and people are sick of it.

Clinton was a flawed candidate and I think people are largely tired of stuck in neutral feeling. They voted for someone who wasn't part of the system.
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