Christy proposes phasing out SS for those making over $80K per year (politician, rating)

[freemkt]

Originally Posted by HappyTexan

And you will see a proliferation of FICA alternative jobs set up under 401a and/or 403b.
They exist today and will explode should Christie get his way.

If Christie gets his way, alternative jobs will necessarily skyrocket?

[freemkt]

Originally Posted by InformedConsent

No, it isn't. The AP article I posted clearly explains that it isn't. Only low-income earners get more in SS benefits than they've paid in SS tax.

Only if they live long enough to get back what they paid in.

[Themanwithnoname]

Originally Posted by evilnewbie

I don't fall into the group of losing SS in Christie's plan but I also don't think its fair... SS was setup so that whatever YOU contributed, YOU would also get in return... that was FAIR... it was never a system where money would be stolen from you and given to someone else...

HAHAHAHAHAHAHAHAHHAHAHA!!!!!!

Not from the VERY FIRST recipient!!!!

Ida May Fuller - Wikipedia, the free encyclopedia

The "silent generation" received FAR more than they paid in.

It's been scaled back and scaled back (out of necessity) and now people are looking at the (necessary) end of the socialist program.

It's just a matter of who doesn't have a chair when the music stops!

You can be for or against something based on personal gain/loss.
That's fine and understandable.

But let's not lie about the facts!

[Snowball7]

Originally Posted by Themanwithnoname

It's just a matter of who doesn't have a chair when the music stops!

No, it's not.
More and more people across Europe, especially in Iceland and Greece, and
increasing numbers of Americans are starting to understand some basic but
obscured fundamentals concerning our "economic system" which have not been
talked about often enough. Namely, that the American government has the power
to restore its SOVEREIGNTY over the money supply and the proper expenditure of
its revenues. The music doesn't stop because the government has the Constitutional
power to create and distribute dollars. This power was relinquished to the foreign,
private bankopoly called the "Federal Reserve", however with the stroke of a pen
Congress and the Presidency can take the control OUT of the hands of this group
and BACK into the hands of the American people and their representatives.
SCREW the BANKS.
The banks create "money" for absolutely nothing - just digital blip entries by pressing
a button on a keyboard and voila, trillions are "created" that WE are supposed to
PAY BACK as debt........ well guess what. More and More Americans are waking up
and understanding that they have been PORKED - AND DON'T LIKE IT.
You can tell the War Party and the Global Bankers to shove it because if Social Security
is cut back in this country there's going to be hell to pay and the bankers are going
to start "disappearing", my friend.

[texan2yankee]

Alleged fiscal conservatives are just as guilty as unabashed leftists when it comes to ignoring economic realities of Social Security in order to pander to their constituencies.

How about a third party, the “Time to Grow Up” party?

[flashes1]

Originally Posted by Fox Terrier

It seems there is some misunderstanding of what Christie proposed. He did not propose cutting off social security benefits if you made $80k and above WHILE WORKING.

His proposal is to cut SS payments for people who, after retirement, are bringing in $80k or more a year from OTHER INCOME.

I don't think anyone actually read the article...


As part of the plan, he'll propose phasing out Social Security payments for those making more than $80,000 in other income and eliminating them for those making $200,000 or more a year.

Does Other Income in his plan include Required Mandatory Distributions ("RMD's) from 401k's and IRA's? A lot of folks who contributed +10% of their income for 35 years will have RMD's in excess of $100k/year at age 70.

[TrapperJohn]

Maybe we should phase out food for people over 300 pounds and see if his fat ass still supports phase-outs.

[flashes1]

Christie is on target. Drastic measures have to be taken on SS. Either reduce payouts or increase contributions. I think postponing the age one is eligible to receive benefits is the most painless. Increase full retirement age from 67 years to 70 years....maybe longer?

[HappyTexan]

Originally Posted by freemkt

If Christie gets his way, alternative jobs will necessarily skyrocket?

No, jobs that have alternative FICA plans will proliferate.

There are other plans out there besides FICA.
Railroad workers have their own and many teachers have their own.
FICA is still deducted and the medicare portion goes to Uncle Sam but the SS portion does not go to Uncle Sam and is put into a separate account.


401(a) and 403(b) of the IRS code.

[Themanwithnoname]

Originally Posted by Snowball7

No, it's not.
More and more people across Europe, especially in Iceland and Greece, and
increasing numbers of Americans are starting to understand some basic but
obscured fundamentals concerning our "economic system" which have not been
talked about often enough. Namely, that the American government has the power
to restore its SOVEREIGNTY over the money supply and the proper expenditure of
its revenues. The music doesn't stop because the government has the Constitutional
power to create and distribute dollars. This power was relinquished to the foreign,
private bankopoly called the "Federal Reserve", however with the stroke of a pen
Congress and the Presidency can take the control OUT of the hands of this group
and BACK into the hands of the American people and their representatives.
SCREW the BANKS.
The banks create "money" for absolutely nothing - just digital blip entries by pressing
a button on a keyboard and voila, trillions are "created" that WE are supposed to
PAY BACK as debt........ well guess what. More and More Americans are waking up
and understanding that they have been PORKED - AND DON'T LIKE IT.
You can tell the War Party and the Global Bankers to shove it because if Social Security
is cut back in this country there's going to be hell to pay and the bankers are going
to start "disappearing", my friend.

Your weeving together some fact with the mistaken assumption that you can keep spending forever when your in debt.

That has never worked through history. For people or countries.