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Old 11-10-2016, 06:14 AM
 
6,409 posts, read 3,598,411 times
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Quote:
Originally Posted by lancers View Post
Any changes to SS will not affect anyone over the age of 50. Under that age might be fair game.
Yes, it will. The Ryan Plan calls for partial privatization of SS allowing younger workers to take out a portion of their SS taxes and put that in a private market fund. That means there will be less money in the total pool for those already receiving SS. SS will die a faster death with that.

 
Old 11-10-2016, 06:44 AM
 
26,066 posts, read 33,064,041 times
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Quote:
Originally Posted by Jo48 View Post
Yes, it will. The Ryan Plan calls for partial privatization of SS allowing younger workers to take out a portion of their SS taxes and put that in a private market fund. That means there will be less money in the total pool for those already receiving SS. SS will die a faster death with that.
You really think that they will make a serious cut in SS to people that are living on that money? Yeah I don't see that happening at ALL.
 
Old 11-10-2016, 06:49 AM
 
6,663 posts, read 3,769,348 times
Reputation: 13781
Quote:
Originally Posted by NewbieHere View Post
Hilary has plan to raise tax and raise retirement age for the younger workers. I doubt the plan is to change for current retirees.

Why neither Trump nor Clinton

Trump said no change to SS. His plan is to save it through economics growth.
As you can see from Trump's quotes in my posts, he plans to privatize Social Security in large part, thus changing Social Security forever. If there's no pool, it's not "social." Thus, it will wither and die. SS only works if there's a pool. Otherwise, it will crumble because the numbers don't add up.

He has no plans for economic growth. We have economic growth right now. Growth has increased every year since the Republican Great Recession.

His tax plan will add to the deficit, just like Bush's tax cuts for the wealthy did. This is elementary. If you remove revenue, it has to be replaced with something else, or it adds to the debt. Businesses do not grow from tax cuts. Businesses grow because of increased business, which warrants hiring more employees. Business increases when the MIDDLE CLASS have more expendable income, because they spend it.

This is all proven repeatedly in our history. Just look at the economy during the Bush administration and the Reagan administation. Trickle down economics is a falsehood perpetrated by the wealthy. They know it doesn't trickle down.
 
Old 11-10-2016, 06:51 AM
 
6,663 posts, read 3,769,348 times
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Quote:
Originally Posted by Jo48 View Post
Yes, it will. The Ryan Plan calls for partial privatization of SS allowing younger workers to take out a portion of their SS taxes and put that in a private market fund. That means there will be less money in the total pool for those already receiving SS. SS will die a faster death with that.
Even someone at age 50 doesn't have the time to make up for the loss of Social Security, or any part of it.
 
Old 11-10-2016, 06:56 AM
 
6,663 posts, read 3,769,348 times
Reputation: 13781
Quote:
Originally Posted by ChessieMom View Post
You really think that they will make a serious cut in SS to people that are living on that money? Yeah I don't see that happening at ALL.
Do you really think they're going to wait 40 years for people to stop contributing payroll taxes to Social Security? If they don't, then the current contributors will no longer be contributing the same amounts....which affects current beneficiaries.

I posted Trump's quotes regarding his SS plan in my post. Anything else is a guess. But he clearly says privatizing part of SS. He didn't say "for the next generation."

My guess will be that he'll soften the blow by saying "I'm giving up my SS because I don't need it. I will encourage other wealthy people to do the same. That will grow the SS Trust Fund, so current beneficiaries don't need to worry." He'll also say, like he has in the past, that he'll grow the economy, so that will make up the decreased contributions to the SS Trust Fund. He said, "I'll create so many jobs! So many jobs that people will say STOP! Stop with the jobs! I'll create more jobs than anyone!" The unemployment rate is currently 4.9%. Trump has not proposed any plans to create jobs or grow the economy. Can he get the unemployment rate below 4.5%? Someone with no experience working in government or creating jobs? All we can do is wait and see.

Politicians make all sorts of promises, so one has to sift through them to ascertain what they really plan on doing. He was very definite about SS. I think he does plan on privatizing part of SS soon, while they can. Otherwise, they'll lose that opportunity. That means he will want the CURRENT contributors to start benefiting from privatization soon, since they voted for him. I don't see how that won't affect current beneficiaries.

Last edited by bpollen; 11-10-2016 at 07:10 AM..
 
Old 11-10-2016, 07:05 AM
 
6,663 posts, read 3,769,348 times
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Quote:
Originally Posted by longneckone View Post
Why worry? This will still be pretty much the same Congress that could not agree on anything.
Congress by party agrees on its platform. This is now a Republican Congress with a Republican White House. Thus, the Republican Party Platform will proceed to be passed. This includes a privatization of Social Security, big tax cuts for the very wealthy and corporations, removing the mortgage interest deduction (the main or only deduction that most middle class rely on to lower taxes), etc. You know the drill.

This will also mean a large increase to the deficit, a widening gap between the very wealthy and everyone else in terms of financial security and standard of living, less security for the elderly and those in need. It's all there in history. Reagan and Bush Jr. are the two most recent examples.

Trump's plans are pretty standard Republican. It's all there on the internet, which his voters should have checked before they voted.
 
Old 11-10-2016, 07:16 AM
 
Location: Tennessee
23,684 posts, read 17,640,506 times
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We only have minor insight on how Trump will actually govern. I think many of the concerns are overblown, and frankly, misguided.

Most people see Trump as some sort of conservative ideologue. Many of Trump's positions are not traditional conservative positions, and this goes across the board. I honestly think Trump is not that ideological and is going to be a lot more pragmatic than people anticipate. I think he is going to put the well-being of the country and its people ahead of ideology.

This USA Today piece provides a good summary. These plans are pretty centrist and inoffensive.

What President Trump means for your pocketbook
 
Old 11-10-2016, 07:27 AM
 
Location: Charleston, SC
1,369 posts, read 771,752 times
Reputation: 2428
Stop it. Geez.....what are you just making this stuff up as you sit at your keyboard ?!?!

No Politician worth his saliva will cut the SS benefit to those already receiving a check. What you may get is an increase in the Retirement Age, and perhaps an increase in the top Wage for SS deductions (currently stuck at $110K or so). Privatization is a major overhaul and it would take years to enact any coherent legislation, Paul Ryan notwithstanding. The First 100 Days will be all about repealing and replacing the ACA.

Trump has said that he wants to get a handle on Medicaid payments, and also the SS Disability Program where fraud is excessive. The Meals on Wheels Program may see a cut in funding as well.

From Forbes yesterday...
"Some of the programs that could be targeted: Medicaid, important reforms in the way health care is delivered through Medicare, and services funded through the Older Americans Act such as Meals on Wheels, adult day, information assistance. And while Trump vowed throughout his campaign to leave Social Security and Medicare untouched, congressional Republicans have targeted both programs and it is not clear whether the new president would resist their efforts to cut benefits."
 
Old 11-10-2016, 07:37 AM
 
Location: Tennessee
23,684 posts, read 17,640,506 times
Reputation: 27772
Quote:
Originally Posted by FiveLoaves View Post
Stop it. Geez.....what are you just making this stuff up as you sit at your keyboard ?!?!

No Politician worth his saliva will cut the SS benefit to those already receiving a check. What you may get is an increase in the Retirement Age, and perhaps an increase in the top Wage for SS deductions (currently stuck at $110K or so). Privatization is a major overhaul and it would take years to enact any coherent legislation, Paul Ryan notwithstanding. The First 100 Days will be all about repealing and replacing the ACA.

Trump has said that he wants to get a handle on Medicaid payments, and also the SS Disability Program where fraud is excessive. The Meals on Wheels Program may see a cut in funding as well.

From Forbes yesterday...
"Some of the programs that could be targeted: Medicaid, important reforms in the way health care is delivered through Medicare, and services funded through the Older Americans Act such as Meals on Wheels, adult day, information assistance. And while Trump vowed throughout his campaign to leave Social Security and Medicare untouched, congressional Republicans have targeted both programs and it is not clear whether the new president would resist their efforts to cut benefits."
And part of my point was made here.

When people pay close to attention, Republicans have been wanting to repeal Obamacare for years. How often have you heard Republicans talk about replacing Obamacare? Most Republicans want to go back to the way things were before the ACA. Logistically, this is going to be difficult.

Trump seems to be proposing repealing the ACA, then replacing it with some as yet unknown government plan.

The ACA has had good provisions like allowing preexisting conditions to be covered, but costs have spiraled out of control, and with fewer insurance providers, costs are rising to the end user. Providers are bailing out due to their costs being out of control.

I honestly wouldn't be surprised if Trump goes for single payer.
 
Old 11-10-2016, 07:53 AM
 
10,394 posts, read 9,405,924 times
Reputation: 16022
Since Obama has been in office we have seen the lowest COLAs in the history of COLAs since 1975. The head of the BLS is a dem appointed by Obama....and some claim that has nothing to do with it. Costs have risen (Google it yourself) since 2009. I'm sure those who have mega retirement funds will repute this, but that's not surprising.

The last nearly eight years should have been the time for people to start complaining; not now when they have no idea what, if any changes will take place.

Realizing some are still upset their candidate lost, it's not surprising they're panicking now.
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