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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?
I'm 44. I'm tired. I've been working since I was 14. By 64 or so I will be really tired. If a politician tries to change it to 70 for me, I will spend a LOT of effort making sure they are not elected.
This is a smart move. At a certain point, people are only hoarding to will to their family. SS taxes also cover SSDI and this would be a great way to solve the problem of depletion of those funds.
I'm sure they would "grandfather" people in to the new retirement age. I think people in their 30s already felt something like this was inevitable.
This might be enough to even get me to vote for him.
This is a smart move. At a certain point, people are only hoarding to will to their family. SS taxes also cover SSDI and this would be a great way to solve the problem of depletion of those funds.
I'm sure they would "grandfather" people in to the new retirement age. I think people in their 30s already felt something like this was inevitable.
This might be enough to even get me to vote for him.
Where to start....
This is on "income", not what you've "hoarded" in the bank
SSDI is not part of the SS Trust Fund..SSDI is its own separate Trust Fund with a fixed amount going to it.
suggestion..educate yourself first on the definition of income, and how SS and SSDI are funded and how they work before "voting for him".
This is a smart move. At a certain point, people are only hoarding to will to their family. SS taxes also cover SSDI and this would be a great way to solve the problem of depletion of those funds.
I'm sure they would "grandfather" people in to the new retirement age. I think people in their 30s already felt something like this was inevitable.
This might be enough to even get me to vote for him.
Have you seen the comments on forums about people on welfare, or even on SSDI, they have become pariahs, about 90% of the people posting think they should not get any cash aid because they are moochers, or deadbeats. If Social Security is reduced or eliminated because of a person reaching a certain income then it will be considered an 'entitlement' and people receiving it will be demonized..I can just imagine the posts "they must be (lazy, defective, ghetto, etc) or they would have enough income that they wouldn't need to suck on the Social Security teat. I just don't want to see that get started. Get a POTUS who likes to start wars and has no way to pay for them and watch the $80,000 reduced to $20,000 and include pension income.
I'm 44. I'm tired. I've been working since I was 14. By 64 or so I will be really tired. If a politician tries to change it to 70 for me, I will spend a LOT of effort making sure they are not elected.
Many, many people can't make it past 60, never mind 70.
While Christie has voiced his plan the others haven't.
And Hillary has consulted with Theresa Ghilarducci regarding retirement options.
She is the one that went to Congress saying Americans didn't want to manage their retirement money (401K/IRA) and that the government should manage it for them and give them an annuity when they retire.
So definitely keep your eyes and ears open this time round as the hopefuls come out with their details.
Many, many people can't make it past 60, never mind 70.
While Christie has voiced his plan the others haven't.
And Hillary has consulted with Theresa Ghilarducci regarding retirement options.
She is the one that went to Congress saying Americans didn't want to manage their retirement money (401K/IRA) and that the government should manage it for them and give them an annuity when they retire.
So definitely keep your eyes and ears open this time round as the hopefuls come out with their details.
No worries, I plan on it.
Im hoping democrats put up a decent primary, and the republicans get someone decent. I want a real competition, not a clown show.
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.
Extremely frustrating, isn't it?
Quote:
Originally Posted by Seacove
I fully support Universal Health Care. I also know Republicans and the loudest screaming you will ever hear is them losing Medicare or even the suggestion of them getting reduced Social Security. It's like water poured on the Wicked Witch. Republicans hate government but love their government programs. And this is a GOP proposal!
Lol. Oh the irony! What's the most ridiculous is people yelling, "My money! My money! ROBBERY OF WHAT I PAID!!!"
Try again peeps. Most people pay waaaay less than they ever get out of it. Your employers pay the most. So let's not pretend you are being "robbed" of like 100k.
Have you seen the comments on forums about people on welfare, or even on SSDI, they have become pariahs, about 90% of the people posting think they should not get any cash aid because they are moochers, or deadbeats. If Social Security is reduced or eliminated because of a person reaching a certain income then it will be considered an 'entitlement' and people receiving it will be demonized..I can just imagine the posts "they must be (lazy, defective, ghetto, etc) or they would have enough income that they wouldn't need to suck on the Social Security teat. I just don't want to see that get started. Get a POTUS who likes to start wars and has no way to pay for them and watch the $80,000 reduced to $20,000 and include pension income.
I have indeed seen them and they make me sick. You must be more optimistic than I am because I don't think the war on the poor is gonna stop, for any reason, anytime soon.
Im hoping democrats put up a decent primary, and the republicans get someone decent. I want a real competition, not a clown show.
Good.
I remember when the AMT came into being back in the early 80's. (a change to the 1969 law).
Of course it came across as "good" because it was a tax on only the wealthy. Most Americans were not affected by it.
Fast forward 30 years and this tax hits the middle class ($52K/individual).
And most of the revenue that the IRS gets from the AMT is from the middle class now.
That $80K today that Christie is proposing sets a bar which can be lowered. And, if history is any guideline, then that bar WILL get lowered so the government can keep more money.
Yep. Saddle the younger people with boomer debt and then shaft them by taking away all they worked and contributed, to pay it off. Republicans have no shame. Boomers have no limit to their selfishness.
Yes, because Boomers haven't contributed a penny to any of it.
Guess you're ok shafting Boomers and taking away all they worked and contributed to? Yea, that's not selfish at all.
And by the way, the Boomers say "you're welcome" for your education, young people. Yea, the one they paid for.
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