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Old 03-26-2008, 04:57 PM
 
Location: CA., Az., Nev.,Utah, Oregon
13 posts, read 51,116 times
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LADYS AND GENTLEMAN THESE POST ARE CORRECT IN PART; the reality is that the threat is not that SS will run out of money! The threat is that our government as we know now will be gone !Thru the work of our many former Presidents look up the following North American Union, North American Super Highway NAFTA(NORTH AMERICAN FAIR TRADE AGREEMENT) HCM2003, IT PASSED THE HOUSE and now has gone to the Senate. all this could and most likely will disolve the borders between Canada .the U.S. and Mexico allowing the Canaden police or Mexican police to be used to inforce the New laws of the new nation . One world money. In with a New Constitution , out with the Old and it's benifets.Now on a scale of 1to10 what is the most serious problem we elders are facing ?
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Old 03-26-2008, 07:49 PM
 
52 posts, read 140,880 times
Reputation: 15
So how many times has govm stuck it`s hand into the SS piggy bank to fund
1-wars
2-every country disaster while our own land struggles
3-all the boarder jumpers health care/free birthing hospital care/meds/schooling etc,etc,etc.


So was the SS set up years ago to take more $$$ out of your paycheck to use as they(govm) wants to..
I`ve worked for over 40 years and like others have paid into it.

Last edited by MDTAZ; 03-26-2008 at 08:06 PM..
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Old 03-26-2008, 11:44 PM
GLS
 
1,985 posts, read 4,847,602 times
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Quote:
Originally Posted by lovesMountains View Post
But Frank, this is not new news - we've known about this for years. What can you expect when the system is being used the way it is?

You do realize that when social security was established the average Americal only lived a few years beyond retirement and so paying his benefits was not a problem? These days the average American uses up what they actually contributed to the system over their lifetime in about 3 years, BUT THEY STILL GET TO KEEP GETTING MONEY, sometimes for 20 years or more!

People have got to stop thinking of social security as their ONLY retirement plan!
Your point is valid. However, it is more dramatic than you think. I believe that when the actual Social Security retirement age was set at 65, the average lifespan was 62 years old. They set it to begin 3 years after the average American died.
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Old 03-26-2008, 11:48 PM
GLS
 
1,985 posts, read 4,847,602 times
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Quote:
Originally Posted by cdelena View Post
Wait a minute!! The workforce and employers are forced to pay SS with the promise that it is a retirement plan. As long as we are forced to pay under this premise we are entitled to the benefits.
Now that's funny!!! Also, consider that some of us are self-employed. We pay both the employee AND employer's contribution. This means that when they go broke I will receive double nothing.
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Old 03-27-2008, 08:22 AM
 
16,437 posts, read 19,140,430 times
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If doctors are allowed to continue to refuse new Medicare patients, the system shouldn't go broke ever.
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Old 03-27-2008, 08:25 AM
 
16,437 posts, read 19,140,430 times
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Quote:
Originally Posted by GLS View Post
Your point is valid. However, it is more dramatic than you think. I believe that when the actual Social Security retirement age was set at 65, the average lifespan was 62 years old. They set it to begin 3 years after the average American died.
I don't mean to begin an argument on this, but we aren't really living that much longer than before. What skewed the average life span figure was a higher infant mortality rate in days gone by.
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Old 03-27-2008, 08:53 AM
 
16,437 posts, read 19,140,430 times
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Consider this: the boomers have the votes to force a tax hike to pay for their hard earned benefits. That's reality. Now, when the next generation is ready to retire they are going to want the honest return on what they paid in to support the boomers, and at that time they will have the votes. And so it goes. Expect higher taxes.
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Old 03-27-2008, 09:10 AM
GLS
 
1,985 posts, read 4,847,602 times
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Quote:
Originally Posted by Bideshi View Post
I don't mean to begin an argument on this, but we aren't really living that much longer than before. What skewed the average life span figure was a higher infant mortality rate in days gone by.
No argument necessary. I agree with your point on infant mortality. There are many other factors they could have extrapolated to project a starting point to pay out that would have been fair to the people that paid in. For example, my opinion is that time a fair payout age projection when they started would have been 55 years old.

Without debating the financial assumptions they used, my point is that the government has approached this like Lucy in Charlie Brown. If you are foolish enough to trust it, you are just going to get the ball pulled away at the last minute. Unfortunately this is also happening in the private sector with renegged on pension promises. IF there is anything left in Social Security when my time comes, it will be based upon politicians fear of the power of the vote. It certainly won't be based upon fairness or their sense of responsibility to represent the people.
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Old 03-27-2008, 09:33 AM
 
Location: Home is where the heart is
15,400 posts, read 25,826,958 times
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Quote:
Originally Posted by GLS View Post

Without debating the financial assumptions they used, my point is that the government has approached this like Lucy in Charlie Brown. If you are foolish enough to trust it, you are just going to get the ball pulled away at the last minute. Unfortunately this is also happening in the private sector with renegged on pension promises. IF there is anything left in Social Security when my time comes, it will be based upon politicians fear of the power of the vote. It certainly won't be based upon fairness or their sense of responsibility to represent the people.
Nicely stated, and so very true about the politicians. We've never included SS as a major factor in our retirement plans and it was for that very reason.

I thought the point about infant mortality was apt. Life expectancy is also increasing, however. Take a look at the tables life insurance companies use to predict how long each individual person will live. It's fascinating how they determine this--and those companies make money by being right more often than they are wrong. They have it down to a science.

The sad thing is, this is nothing new. They've known life expectancy was increasing for more than 100 years. This should have been factored in when Social Security was created.
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Old 03-27-2008, 09:59 AM
 
13,319 posts, read 25,565,364 times
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I believe 65 was a fairly arbitrary retirement age for civil servants in Germany under Kaiser Wilhelm, and for some reason, became a norm.
Posters are correct about "average" ages being skewed by infant mortality. A more accurate assessment is by how many years a person can be expected to live IF reaching the age of five alive, and then IF reaching the age of 65. The life years after 65 have indeed been increasing in the U.S., with some differences for race and gender (and certainly economics).
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