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Old 12-12-2016, 09:00 AM
 
12,058 posts, read 5,156,615 times
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Quote:
Originally Posted by krug View Post
WHO earns 50K a year in SS??? and if so, I'm positive they have other resources to tap into if there is a reduction.

Also, to lump the entire GOP into this proposed legislative discussion is why many Americans dislike the US media, it's fear mongering.

Last, something has to be done eventually, common sense, of which most Americans are lacking, dictates that we are paying out more than we are taking in. Thus...effective legislatures are at least "discussing" unlike most Dems who prefer to hide their head in the sand.
That must be the 1% of SS recipients. I didn't even know it was possible to get that much.

 
Old 12-12-2016, 09:01 AM
 
29,815 posts, read 34,900,894 times
Reputation: 11735
Quote:
Originally Posted by Serious Conversation View Post
There are all sorts of logistical wrinkles like these that will make any implementation of cuts, should they pass, slow-going. None of this stuff is going to be implemented overnight.

By the time this ball gets rolling, Republicans may have very well been voted out and the Democrats will just be undoing whatever the current Republican governments.
Some background info. So much is intertwined with years of SS implementation that unwinding could create considerable unintended consequences.
Why Aren
 
Old 12-12-2016, 09:02 AM
 
Location: SoCal
13,305 posts, read 6,369,679 times
Reputation: 9932
Quote:
Originally Posted by foundapeanut View Post
Well he must not of been that high of an earner. My husband makes about $2500.00 per month and yeah we would be complaining.

He paid in for over 50 years. 35 years of it was the top of the income charts. He was already bumped from 65 to 66.

Here's something to think about they cut the main earner bennies, they cut the widows bennies too.
He took his SS early and he didn't contribute 50 years. But when he was contributing he was contributing the max.
 
Old 12-12-2016, 09:05 AM
 
29,815 posts, read 34,900,894 times
Reputation: 11735
Quote:
Originally Posted by marino760 View Post
That must be the 1% of SS recipients. I didn't even know it was possible to get that much.
Not possible now even at age 70. However it will be soon as benefits naturally rise. The current age 70 max is just over 42K. With a intended future implementation date that 50k is possible. It would be more than 1 percent who would qualify for and in some metro areas a healthy number of. On the other hand in some rural areas very few. Consider what the salary cap on contributions are and how many in some areas of the country make that and more. I can attest that in some areas there are many.
 
Old 12-12-2016, 09:05 AM
 
Location: SoCal
13,305 posts, read 6,369,679 times
Reputation: 9932
Quote:
Originally Posted by marino760 View Post
The ignorance and fear mongering in this thread is astounding. Any changes to SS will be and always have been done in a way that it does not effect those already in retirement or within 5 - 10 years of retirement. Those affected by far are the youngest Americans who are still years and decades from retiring.
Everybody get a grip and stop with the lies and false news. You people are ridiculous and seem to thrive with putting seniors who don't know any better into a panic. Shame on you.
I agree. The U.K. Has already changed to age 70 for the younger than 40 crowd.
 
Old 12-12-2016, 09:09 AM
 
Location: Proxima Centauri
4,833 posts, read 1,995,739 times
Reputation: 5276
Quote:
Originally Posted by krug View Post
WHO earns 50K a year in SS??? and if so, I'm positive they have other resources to tap into if there is a reduction.
Couples do. Also, since SS is taxed based on gross income would that cause all of SS to be confiscated in this situation?

Quote:
Originally Posted by krug View Post
Also, to lump the entire GOP into this proposed legislative discussion is why many Americans dislike the US media, it's fear mongering.

Last, something has to be done eventually, common sense, of which most Americans are lacking, dictates that we are paying out more than we are taking in. Thus...effective legislatures are at least "discussing" unlike most Dems who prefer to hide their head in the sand.
Too many of you are labeling this fear mongering. This is no recipe for a fair deal if the republicans are allowed to do this alone. The republican trifecta which will exist in January is only a place where the republicans will dictate terms to the rest of us.

Since you brought the media into this, has anyone seen discussion of this on FOX, CBS, NBC, or ABC?
 
Old 12-12-2016, 09:10 AM
 
Location: Living rent free in your head
31,133 posts, read 13,643,867 times
Reputation: 22169
Quote:
Originally Posted by marino760 View Post
And that's what I said, 5-10 years. The most drastic changes don't take effect for a couple of decades. People in a panic are people that are now receiving SS or will be in a year or two. That's what's happening with this thread and no one is even trying to set the record straight.
Given that most people will probably live to 80, any one who is 55 or 60 right now should certainly be in a panic over changes that are two decades out.
 
Old 12-12-2016, 09:24 AM
 
Location: Living rent free in your head
31,133 posts, read 13,643,867 times
Reputation: 22169
Quote:
Originally Posted by krug View Post
WHO earns 50K a year in SS??? and if so, I'm positive they have other resources to tap into if there is a reduction.

Also, to lump the entire GOP into this proposed legislative discussion is why many Americans dislike the US media, it's fear mongering.

Last, something has to be done eventually, common sense, of which most Americans are lacking, dictates that we are paying out more than we are taking in. Thus...effective legislatures are at least "discussing" unlike most Dems who prefer to hide their head in the sand.
I am not clear how the 50k in SS benefits got started in this thread, but I don't think that is correct. The discussion of benefit cuts are based on the average lifetime earnings (AIME) This chart, taken from this article might make it a bit easier to understand:

 
Old 12-12-2016, 09:32 AM
 
Location: SoCal
13,305 posts, read 6,369,679 times
Reputation: 9932
Honestly, I think they should leave everything alone and when the trust fund runs out pay exactly what the trust fund can afford, which is 70-79% of current payment across the board.
 
Old 12-12-2016, 09:34 AM
 
29,815 posts, read 34,900,894 times
Reputation: 11735
Quote:
Originally Posted by 2sleepy View Post
I am not clear how the 50k in SS benefits got started in this thread, but I don't think that is correct. The discussion of benefit cuts are based on the average lifetime earnings (AIME) This chart, taken from this article might make it a bit easier to understand:
You have revealed the reality of this plan. It is similar to what activist Progressives have proposed as a way to raise SS benefits for the needy. Thus you could have consensus of the more far out left and right thinkers.

What it is saying is that based on lifetime income you had the opportunity to save yourself
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