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Don't worry hyper- inflation will take all the money you have saved just to buy groceries. With 20 % of the food being knocked out by the oil spill in the Gulf of Mexico. Then the prices are bound to go higher for the basic's. So as the fast food joints have to pass on the increase for products then the higher you pay for your big mack.
Hyper- inflation is a hidden tax, as the value of your dollar falls in value then the money you have in savings decreases. Cost of electicity is going to rise as less oil in aviable due to the rigs leaving the Gulf, now two refineries are shut down in Texas due to EPA yep it's going to cost more to live.
its guna happen, dont matter republican or democrat.
just until a few years back-- some brain dead actuaries actually allowed people to retire early and even do buyback deals on prior service.
them days are probably over.
if you read the CDF threads you will see the hate mail directed to the fortunate few that jumped on this love train.
btw have you seen my new car? http://www.kenrockwell.com/bmw/540specifications.htm
Hell no! I have worked since I was 15. I worked in a car wash until I graduated high school and then I was in the military and then a radio network and now a cellular company. Never been unemployed thanks be to God.
I get a statement from SSA that shows what I paid in and I figure that I have paid in over $200,000 and that my employers have paid an equal amount. That is about $400,000 with NO interest. I expect that if you compounded interest on that money, it would be over a million dollars. It says that if I live long enough to see my full retirement age of 67.6 years, I can expect about $1650 in today's money.
So if I live to the average white male life span of about 76 years, that means I will collect about 8 years or about 96 months of benefits. That comes out to about $160,000.
So as it is I am not getting anything near what I put in. And now they want to tell me I have to wait even LONGER to get it?? HELL NO!!!
The problem is - it's not as though they set up some account for you and that money is there waiting for you. The money isn't there. It's gone. They robbed us.
Too bad social security wasn't privatized - if we had full control over that money, we could have paid off mortgages early, saved it in a bank account or under the mattress and it would still be there and we'd have more options.
So just be glad to have your health and hope you can go on earning good money in your golden years. And look at the bright side - those people who go on working are healthier than those who aren't. Work helps you keep your competitive edge.
1. Review people on SSD and SSI and kick about a million of them off. I see these folks all the time and they are more "abled" than many of us are yet they are collecting Social Security disability cheques.
2. Make Social Security what it was meant to be which is RETIREMENT income. Limit the outside earnings of retirees to no more than a certain amount a year- maybe $12,000 a person or $24,000 for a couple. It is STUPID when people making $100,000 a year can continue to work full time AND collect benefits just because they are 65.
3. Do away with the cap on earnings that you pay Social Security tax on. You should pay it on ALL income no matter how much you make.
Definitely your #1. No able bodied should be on welfare of any kind.
I don't agree with your 2. If someone chooses to work, enjoys work, they shouldn't be penalized. Social security should never have become just another welfare program. People who go on working continue to pay into Social Security taxes - they benefit everyone. They should not be denied what is owed them.
well something needs to be done to pay for all the spending
no free lunch
no free stimulus
no free healthcare
wonder what people expected?
What DO you want? Endless wars? Do you trust that your investments and pensions and 401ks will be there for you? Will you be able to afford health insurance when you will most need it? Are a large percentage of posters here young multi-millionaires- or what?
Do you think Americans should just work until they die?
THAT is stupid but seems to be what repugs want.
Have you ANY idea how fast those years go!? No, you don't.
And, I don't know about YOU but I , and many other people, EARNED that time off after a life of work.
You just sound jealous...
AND, ""sometimes even 30 or""
Not many live until they're 95......and the last few years are anything but easy peasy....
You can live well into your 80s if you take care of yourself and it's not at all unusual for women AND men to live into their 90s. I know people my age with living grandparents in their 90s. Plus with the healthcare system flogging our elderly every chance they get, they do often survive much longer than even THEY want to. Comes a point when they are incapacitated and their families are making the decisions for them and they keep flogging old grandma even though old grandma has had enough and would say so if she could. In the meantime those social security checks keep rolling in.
Jealous? Jealous of what? That doesn't even make sense. I want to keep this system solvent even though I will not be able to use it for 35 years if they raise the retirement age to 70....assuming I can ever benefit from it. Why? I'd rather ask people to work 5 measly years than have senior citizens eating dog food OR paying off a crippling debt for the rest of MY working life because the retirement age has stayed stubbornly static while average life expectancies have soared in the decades since social security was implemented.
I would bet you that Americans that keep working until age 70 and beyond, generally live longer and healthier than those who retire at age 63.
Usually when you see people still working into their 80s, they're pretty healthy and fit. Work is good for you.
"Work is good for you"
LOL! Ya, you bought the message "the powers that be" want you to believe.....makes you a good little worker drone!
Work can also be stressful, boring, and debilitating....only a robot could enjoy the same crap for 40+ years.
Some people think work is to pay the bills....LIFE is more important to them .
AND retirement for them is not sitting in front of a TV......there is more to life than that and work.....it's having the time AND being able to do
things they never had time for before.....and there are millions of things to do besides work.
and I feel sorry for those who think Work is Life and have no other interest...
I always Worked to Live, I NEVER would want to Live to Work
You can live well into your 80s if you take care of yourself and it's not at all unusual for women AND men to live into their 90s. I know people my age with living grandparents in their 90s. Plus with the healthcare system flogging our elderly every chance they get, they do often survive much longer than even THEY want to. Comes a point when they are incapacitated and their families are making the decisions for them and they keep flogging old grandma even though old grandma has had enough and would say so if she could. In the meantime those social security checks keep rolling in.
Jealous? Jealous of what? That doesn't even make sense. I want to keep this system solvent even though I will not be able to use it for 35 years if they raise the retirement age to 70....assuming I can ever benefit from it. Why? I'd rather ask people to work 5 measly years than have senior citizens eating dog food OR paying off a crippling debt for the rest of MY working life because the retirement age has stayed stubbornly static while average life expectancies have soared in the decades since social security was implemented.
Get a grip, seriously.
I have no idea why you quoted my post and then ignored it except to say "get a grip"....what has that to do with anything.....you want to work until ya tip over ? Go ahead. I think THAT's ridiculous.
Tell ya the truth , I really couldn't get a point from your ramblings...
If the jobs are there you will find a lot of people working into their 70's. A postal worker just retired at 95. So Congress ought to get to work on that problem. Of course not all jobs are like that. I'm sure most cab drivers retire as soon as they become eligible, even at bare survival levels.
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