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Completely agree. Everyone knows that the government sucks at handling money. So why would you put all your eggs in that one basket? If you take care of your own self, you don't have to live in constant fear like so many do .
Because you only have one egg and many only have that one egg. No pension and limited income in relation to the cost of living.
Because you only have one egg and many only have that one egg. No pension and limited income in relation to the cost of living.
I've never bought into the "poor pitiful me" stuff. At least in the US, if people have only one egg it's because of the choices they've made in life. I have been to places like Haiti where people truly never have an opportunity to improve their situation. Not so here where education is free through HS and where opportunity abounds. I know people personally who have worked hard and escaped the undesirable situation they were in by nothing more than determination and hard work. For $100/month invested over 45 years, a person's working lifetime, one can have a decent retirement and not live in fear that someone will pull the plug on their SS.
OK well first off, how do you think Hillary would have handled it?
Haven't Democrats been decreasing payments?
The bottom line is Donald Trump can help turn the tide in this country that puts American taxpayers back to work so we CAN AFFORD to help our senior citizens.
We've had an infrastructure problem for decades now as our Politicians have been run by Corporate Special interest groups.
MAYBE Trump can help turn the tide.
I know 100% that Hillary Clinton wouldn't have. This validated by the words from her mouth directly as well as Obama's endorsement of her.
America WON this past election. Don't let the Media tell you how to think. They have millions of dollars invested in the status quo with special interests.
Geez, don't even bother talking about clinton any more. Never gonna get the chance to see how she would have handled it, so why don't we just focus on what trump may or may not do - which sounds like a common sense idea, the likes of which we are woefully short on these days.
Because you only have one egg and many only have that one egg. No pension and limited income in relation to the cost of living.
"Then the Kingdom of Heaven will be like ten virgins, who took their lamps, and went out to meet the bridegroom. Five of them were foolish, and five were wise. Those who were foolish, when they took their lamps, took no oil with them, but the wise took oil in their vessels with their lamps. Now while the bridegroom delayed, they all slumbered and slept. But at midnight there was a cry, "Behold! The bridegroom is coming! Come out to meet him!" Then all those virgins arose, and trimmed their lamps. The foolish said to the wise, "Give us some of your oil, for our lamps are going out." But the wise answered, saying, "What if there isn't enough for us and you? You go rather to those who sell, and buy for yourselves." While they went away to buy, the bridegroom came, and those who were ready went in with him to the marriage feast, and the door was shut. Afterward the other virgins also came, saying, "Lord, Lord, open to us." But he answered, "Most certainly I tell you, I don't know you." Watch therefore, for you don't know the day nor the hour in which the Son of Man is coming."
— Matthew 25:1-13, World English Bible
Perhaps civilization will be more forgiving than Jesus.
I agree. SS has had a known deficit problem for my entire lifetime. Trump isn't going to change this because he doesn't need to deal with it. Trump plays for Trump. Ex-Presidents are entitled to receive insider information before it hits the public for the remainder of their lives. That's the reward. Information. All of the rest of this is a bunch of semantics to do what Trump does. He wins. He sees 15 Republicans fighting for the compassionate conservative vote, and he goes low to get the nomination. Clinton is uniquely hated in the base, and he goes with it to rally the base to victory. As soon as he's elected, he starts sounding more intelligent and conciliatory. Why? He's got his win and doesn't need the low road anymore. Now he just needs to survive 4 more years without massive embarrassment, and the easiest way to do that is to not do much. He's going to let K Street and Party pick the ideas, and he's going to hide it all while being noisy about trying to find cheaters. A little bit of fear, a little bit of show, and like a magician the tricks won't even be seen until it's time to reveal them.
If anything, a Trump win is likely to increase SS payouts for current retirees because he's going to try and get inflation back. He's a real estate developer that just got a trillion dollar pocketbook for building infrastructure. He's going to make so many friends it's going to be HUUUGE.
SS long term? It's been running in deficit for decades and nobody's effectively cared. It needs restraint and cuts and those are loser topics. My SS statement says that when I'm eligible, at age 69.5, I should expect no more than 76% of what's listed. The reality is most of my GenX colleagues expect 0 or a pittance. The retirement calculators all run with an "assume no SS" scenario. Like trade surpluses, diploma level jobs with pensions, 1 income families, paying for State U with a summer job and the quaint but affordable starter home...the older generation will take this with them as well.
So relax and enjoy it. Trump won't touch your SS. He'll let you devour ours, and if he doesn't, someone else will.
SS is likely going to have to be cut in payments, the retirement age raised, FICA taxes increased, something to cover the shortfall.
Raise the cap on earnings. If GDP gets back up to 4%, it's possible revenues into the program will increase, as well.
Quote:
Originally Posted by jasperhobbs
I definitely see FICA taxes being raised.
Wow, people are already paying 7.65% into SS/Medicare. That's pretty steep. If there is any raise, maybe a quarter point. Employers will howl about that - or just give lower wage increases.
Quote:
Originally Posted by Jstarling
You really think he will increase ss payouts?
- Inflation will take care of that. We haven't had a visible COLA for a two years, now.
a Trump win is likely to increase SS payouts for current retirees because he's going to try and get inflation back.
Trump starts borrowing for tax cuts, infrastructure, and the inevitable war, we're gonna have inflation - which means once, again, SS pays a COLA, paltry as it usually is.
Last edited by Ariadne22; 11-15-2016 at 09:46 PM..
Raise the cap on earnings. If Wonder Boy Trump gets GDP back up to 4%, it's possible revenues into the program will increase as well.
Wow, people are already paying 7.65% into SS/Medicare. That's pretty steep. If there is any raise, maybe a quarter point. Employers will howl about that - or just give lower wage increases.
- Inflation will take care of that. We haven't had a COLA a few years, now. As artillery said:Trump starts borrowing for tax cuts, infrastructure, and the inevitable war, we're gonna have inflation - which means once, again, SS pays a COLA, paltry as it usually is. Trump will not tinker (Congress wouldn't allow it) with fundamental SS calculations.
I'm not convinced that he won't 'tinker' with SS calculations, he certainly won't by himself and even if he tried he wouldn't be able to figure it out on his own, but Paul Ryan is the man with the plan to screw up SS and Medicare and I'm worried that Trump will let him do whatever he wants.
I've never bought into the "poor pitiful me" stuff. At least in the US, if people have only one egg it's because of the choices they've made in life. I have been to places like Haiti where people truly never have an opportunity to improve their situation. Not so here where education is free through HS and where opportunity abounds. I know people personally who have worked hard and escaped the undesirable situation they were in by nothing more than determination and hard work. For $100/month invested over 45 years, a person's working lifetime, one can have a decent retirement and not live in fear that someone will pull the plug on their SS.
You have no idea of the amount of money that the working and middle-middle class earn, if you think most people have $100/month for 45 years to "invest." Many have no expendable income, many others have little.
Social Security was started because there was a need. The MAJORITY of seniors were living in abject poverty. It turned out to be one of the most successful programs in the country, and worked to resolve the problem that existed. Only about 20% of seniors now live in poverty.
In this country we have people at all income levels. It is a fact of life that of a population, there will necessarily be those at the bottom income level, and someone will be at the top. They will not all be at the top. The universe doesn't work that way.
All people, even you, make the wrong choices sometimes. Lucky you that your choices didn't determine that you would not have much income the rest of your life. Others were not so lucky. Also, we don't all get the same start in life. Born with bad parents, in a bad part of town, or without much of an IQ, or with some disability...many are destined to be low wage earners. And that's okay. As long as they work to support themselves and are productive members of our society.
All workers are due respect. We need cashiers, janitors, maids, clerks, and others in the working class. We certainly need them more than we need another stockbroker. The working and middle classes work hard for a living, but many will be poor in their senior years. Even the middle class, who have all the bills to go along with supporting a family in these days when things are so expensive, struggle to save. There is no longer the hope of paying for college educations for kids AND saving enough for retirement. That American Dream is gone.
Also... people don't know how to invest. It's too easy to invest in the wrong thing, or to have your investment eaten away by institution fees. The privatization scheme for Social Security is a giveaway to the financial institutions - the big donors of politicians.
Seniors in poverty is the concern of all of us, and most certainly of the government. It is fitting that the govt came up with a successful plan to deal with the problem. It has worked well. And now, rich, greedy people want to see seniors in poverty again, because, after all, as you said...it's their problem, not yours.
Social Security should remain as it is. The govt puts the money in a pool, invests it, and doesn't get stuck with the enormous fees that the 401ks are. Social Security benefits from the scale of economy. If you do "A," then you get "B." It works because if you die, then your benefits end, but stay in the pool. That way, if you live longer than expected, your benefits don't end, because of the pool.
Social Security without a pool is not "social" or "secure." If you want, and since you have money, you can invest $100/month for 45 years, in addition to your small SS tax you pay, and you will live in style in your senior years. Most others in America are not that lucky.
You need to throw off your attitude and go work in the real world for a year, then come back and give your opinion of what it's like to work as a waiter for a living as an adult (not temporarily as a college kid), or as a janitor. Better yet, start over...be born in a state and city far from financial institutions and artistic people. Your world consists of cows and tractors. You are taught to earn an honest living. There's no talk of college. People there don't go to college. There's no talk of working as a broker or professor. That's not in your world. You are expected to work at the local factory or whatever. There's no $100 to invest, and you wouldn't know the first thing about how to do that.
Try being a little more empathetic and opening your mind and learning about other people. They're not all like you. Everyone is different...and to be equally respected.
I'm not convinced that he won't 'tinker' with SS calculations, he certainly won't by himself and even if he tried he wouldn't be able to figure it out on his own, but Paul Ryan is the man with the plan to screw up SS and Medicare and I'm worried that Trump will let him do whatever he wants.
Ryan's plan is to end both Social Security and Medicare. The plan is fleshed out. He's presented at least the SS part for vote in the House, I believe.
His plan doesn't do it all in one year. It's a thing that's accomplished in stages. Of course, once you remove the pool aspect and other features of both programs, the programs are no longer "Social Security" and "Medicare." They will, as Newt Gingrich once said, "wither on the vine."
The Repubs have been quite forthright about this. Bush was hoping to get SS privatized, but didn't make it. So take them at their word. They now have both the executive and legislative branches of government.
I'm not so naive to think that it won't affect current beneficiaries. If you "tinker" with the contributions, the beneficiaries will be affected. It may be called something else (like, a necessary slight reduction in benefits, so that "the program is sound").
SS is likely going to have to be cut in payments, the retirement age raised, FICA taxes increased, something to cover the shortfall.
Social Security is solvent right now. A mere tinkering would resolve any problems in the near future. However, it won't go in the red at all any time soon. Within about 20 years, it will start paying out a bit more than it's receiving.
But the goal for the Republican Party is not to fix Social Security. It's to end it. They've been quite open about that. Privatizing is their way to end it. Once all or part of it is privatized, it is no longer Social Security. It will crumble on its own, once the base is demolished. There are no surprises here.
Same with Medicare.
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- Inflation will take care of that. We haven't had a visible COLA for a two years, now.