U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 12-10-2016, 07:14 PM
 
6,599 posts, read 3,736,021 times
Reputation: 13650

Advertisements

Quote:
Originally Posted by Eevee17 View Post
SS need a huge change. People need to wake up, especially older people, and realize SS isn't a retirement fund and was never meant to be. It always meant for the needy and very elderly. Hence, why modern people are surpassing the age. Yes, I know people "pay into" SS. That doesn't change what, and whom, it's meant for.
Social Security doesn't need a huge change. Why do you think that?

What makes you think it was only for the "very elderly"?

What's your definition of "needy"? People who resort to eating cat food? Someone who can't pay for a new roof or to have a car repaired? Someone who can't pay for Medigap and has medical bills he can't pay?

SS is intended as supplemental income for people at a time in their lives when they are unable to better their circumstances much, if at all.

For the people who count on it, it is a sure thing they can count on to pay the mortgage or the car note and food, and other necessities. There are few other things that are a sure thing. For those nearing retirement age, or those who are laid off before 62, it's too late to make other plans. For many, it wouldn't matter, since they don't make a high enough income to make up the lost amounts.

SS benefits from the economies of scale...it doesn't have high costs, like a 401K. It can't be replicated by the ordinary worker. Esp the amount the employer contributes.

It's been a wonderful program for seniors. It needs to continue. Do you think it's right that the govt will significantly cut the income of our seniors, after they put into it for decades and counted on the promise? Knowing that there's little else they can do to make up for it, at their late stage in life? Knowing that this will mean hardship for many, possibly loss of homes, loss of medical treatment? That's what this bill is.

 
Old 12-10-2016, 07:15 PM
 
6,599 posts, read 3,736,021 times
Reputation: 13650
Quote:
Originally Posted by hbdwihdh378y9 View Post
There are people who get $50,000? I'm astonished.
That was the example in the article. It was probably talking about a household (two workers). But you know that.
 
Old 12-10-2016, 07:17 PM
 
Location: Central Massachusetts
4,800 posts, read 4,842,106 times
Reputation: 6377
One of the points that has been mentioned here and glossed over by the knee jerk reaction to a bash piece is that the income levels the cuts affect. Also I do not see it being passed in its reported form for a number of reasons not the least is that many people see touching that third rail as a killer to a political career.

I for one do hope for some reform but it's current payout is probably not at issue. A raise in the cap and a continuation of the current income tax rate will be a huge help. Another help is to increase the base pool of current workers. We have a large underground economy where a number of people in labor are not paying into the system. Putting them on to the payroll by giving tax incentives to do so and by giving green cards to those who are not covered now will also go a long way.

In reality from what I have read on the SS/Medicare/Medicaid/SSDI system is the growth in the Medicaid as it is currently growing. Take that out of the equation and our system is not far off from being solvent.
 
Old 12-10-2016, 07:19 PM
 
6,599 posts, read 3,736,021 times
Reputation: 13650
Quote:
Originally Posted by Steve McDonald View Post
Obviously, it's nothing but grand-standing, by this one-trick politician, who's spent his time in Congress, doing nothing much except make futile attempts at getting his name on Soc Sec reform legislation. Such a bill could never be passed in such a short remaining time for the session and of course, Obama would veto it or pocket it.

Interestingly, this proposal seems to raise benefits for those near the lower end of the scale, but maybe I'm misinterpretating it (which is easy to do).
It's slated for the 2017 session.

Paul Ryan also has a bill ready to go. The same one he presented during the Bush years (partial privatization of SS and Medicare). He will present it with repeal of Obamacare, saying all 3 have to be done at the same time (to be done in stages, as I recall).
 
Old 12-11-2016, 12:20 AM
 
Location: Eugene, Oregon
9,123 posts, read 2,994,022 times
Reputation: 13762
Quote:
Originally Posted by LeaveWI View Post
What I don't get is WHY they would want this. What do they have to gain by screwing over so many Americans?
The only reason that makes sense, is that the large companies might have to make smaller contributions to their employees retirement funds, with a privatized program. And you know, the most important thing for big companies is to find every way to squeeze more money for themselves, out of society.
 
Old 12-11-2016, 12:30 AM
 
Location: Eugene, Oregon
9,123 posts, read 2,994,022 times
Reputation: 13762
Quote:
Originally Posted by golfingduo View Post
In reality from what I have read on the SS/Medicare/Medicaid/SSDI system is the growth in the Medicaid as it is currently growing. Take that out of the equation and our system is not far off from being solvent.
It sounds so simple-------just take the growth out of Medicaid and everything will be fine. But tens of millions of people will have their healthcare diminished or taken away completely. I guess if they die, then they won't require any more healthcare. People in that category probably don't vote as often or they may tend to vote for the side not in the Congressional Majority right now.
 
Old 12-11-2016, 02:09 AM
 
4,508 posts, read 2,120,301 times
Reputation: 9532
Quote:
Originally Posted by NewbieHere View Post
To be deliberated in 2017 is the key.
lol. That's too hard for most people to understand.


God knows when it would take effect and how many years down the road of it being prorated.


MUCH ADO ABOUT NOTHING!


And really, by the time you're retired, your mortgage should be paid off and probably your car(s), too. If they aren't, keep working. You're not ready to retired.


A social security adjustment is long, long overdue. People live longer and they retired later. Social security benefits, just like everything else, needs to be adjusted accordingly.


But some folks sure do love scaring little old people, don't they!
 
Old 12-11-2016, 05:23 AM
 
649 posts, read 553,719 times
Reputation: 1877
Quote:
Originally Posted by bpollen View Post
That was the example in the article. It was probably talking about a household (two workers). But you know that.
The 50k example is not people who get that from SS, nor from retirees that make that much during retirement. It is based on an average of your lifetime earnings. So, anyone that average less than 22k dollars per year in lifetime earning would see SS go up, those who averaged 50k or more would see a dramatic reduction in their SS benefits.

The idea being that if you didn't earn much, you probably couldn't save much. If you earned more, you should have saved more.
 
Old 12-11-2016, 06:14 AM
 
210 posts, read 150,317 times
Reputation: 628
To form your own plan, play the American Academy of Actuaries Social Security Game:
The Social Security Game | American Academy of Actuaries | American Academy of Actuaries
 
Old 12-11-2016, 06:26 AM
 
30,064 posts, read 47,297,325 times
Reputation: 16009
Quote:
Originally Posted by Boris347 View Post
If the Government would do away with the SS Fraud, we would have a lot more in the fund. There are people getting benefits that should not be getting them. People getting disability, yet going out and doing things that are a clear indication of the fact that they can work, instead of scamming the taxpayer.

[mod cut]
Don't confuse SSI with SS and/or SS based disability
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top