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Until we stop wasting money on things like foreign aid, there is no need for increased taxes.
Do you believe we should be sending money that could be used to help our disabled overseas?
I do believe in foreign development aid and helping out sick children and starving people in famines through foreign aid yes absolutely.
To not support an increase in support for our disabled who currently have to make ends meet on $700 and are hurting massively and instead support huge tax cuts for the wealthiest section of society making millions per month is just not something I can wrap my head around.
I'm well aware of those studies, but it doesn't change the fact that many folks are currently working places that provide retirement plans that people don't even take part in. The mindset of many folks is that thidy is what SS is for,or they just don't understand how it works. Phase it out and work on changing that misguided perception, require personal finance classes for k-12. We have so many issues in this country that require a ton of money this is one of the few that a majority of Americans can help fix on their own without extra taxes.
Walmart does not provide a retirement plan. Mcdonalds does not provide a retirement plan. In fact, most employers (especially in the unskilled jobs sector) have no retirement plan.
I do believe in foreign development aid and helping out sick children and starving people in famines through foreign aid yes absolutely.
To not support an increase in support for our disabled who currently have to make ends meet on $700 and are hurting massively and instead support huge tax cuts for the wealthiest section of society making millions per month is just not something I can wrap my head around.
So, you believe people in other countries are a higher priority than the disabled in the US, got it.
Why is that limit in place? Can anyone explain to me?
Because it's a social INSURANCE program with a benefit cap.
So basically, if you were to make 1 billion a year vs. someone making the cap limit of (estimated) 125k a year you'd not collect any more.
NOt only that (and I'm about to lose 75% of the dimwits that hang out in political) but the benefit is not linear meaning that the guy making 100k a year vs. the guy making 110k a year does not get 10/11ths of the benefit for paying in.
To really have a discussion however we need to split OASDI into it's components and address where the big issues are and I'm just going to stop there.
Bottom line is this.
1) At least 50% of the posters to this forum are partisan to the point of insanity. They are incapable of any rationale thought on the topic and need to go pet the fur off their cats somewhere.
2) Of the remaining 50%, the vast majority lack sufficient education on the topic to really have an informed position.
So, basically this entire discussion is like opening a scientific discussion about global warming at a convention for workers in pornography.
Why is that limit in place? Can anyone explain to me?
They do not gain any additional social security benefit over that amount.
In rough terms for explanation...a person making $60K a year, will get more SS money back than someone making $30K a year.
A person making $2,000,000 a year will get the same SS money back as someone making $127K.
Perhaps the cap should be altered, but we should be honest that (A) their benefits are already capped at $127K in income and (B) that the middle class get a much better return on their social security money in retirement than the rich does.
Walmart does not provide a retirement plan. Mcdonalds does not provide a retirement plan. In fact, most employers (especially in the unskilled jobs sector) have no retirement plan.
Walmart does provide a retirement plan. A 401K is a retirement plan whether or not you like it.
Walmart's 401K has nearly 1.5 Million participants with an average balance of $24K.
Walmart's Retirement Plan offers:
(1) 401(k) retirement savings with matching contributions of up to 6% for eligible associates
(2) Associate stock purchase plan with company match
Some low skill people like cashiers became millionaires by doing #2 above
Walmart's starting pay is $9 and $13 for the average floor worker.
If you work 2,000 hours a year (typical) and start out a $9 an hour, only average 3% raises (that might not beat inflation), and get a reasonable 8% rate of return...with the Walmart match of up to 6%.....a mere 6% of your salary would net you $1,500,000 in your 401K if you worked from age 18 to 65. That certainly would supplement social security well.
P.S. McDonald's has a 401K too. If you put in 1% they put in 3%. The next 4% you put in is matched evenly. So if you put in 5%, they will put in 7%. Your 5% is in effect 12%. If you work for McDonalds and make at least the matching contributions of 5%...you have about $1,000,000 after 40 years.
What are some of the benefits offered to Walmart store employees?
Quote:
401k match of 6% (you must contribute for Walmart to contribute), life and vision insurance, PTO accumulated from 90 days on, and you earn more PTO the longer you work (8 year associate gets 1 PTO hour per 8.65 hours worked), get full 40 hours over 90% of the year, and 10% discount card on general merchandise
Answered January 24, 2017
Discounts on store purchases, major automakers give discounts on new vehicle purchases, health care. 6% match in 401K, stock purchases are discounted, cell phone bill is discounted, Disney tickets are discounted, and so many more deals but just being employed with Walmart.
Answered December 31, 2016
Wal-marts are top notch including vision ,healtcare a 401k plan ,life insurance and everything else under the sun
Answered October 15, 2016
Profit sharing,401 k,med,dental
Answered August 14, 2016
Quote:
Originally Posted by MetroWord
Mcdonalds does not provide a retirement plan. In fact, most employers (especially in the unskilled jobs sector) have no retirement plan.
Plenty of comments here about 401ks for store crew.
Quote:
Apr 14, 2017
Former Crew Member in Kent, Washington State
You get 401k, Free Meal , Family & Friends discount , and half off whenever you want! Pretty cool. Maternity leave ( Not Paid)
Quote:
Mar 19, 2017
StarStarStarStarStar
Former Crew Memeber in Bloomington, Illinois
There was only a 401k
Quote:
Originally Posted by MetroWord
In fact, most employers (especially in the unskilled jobs sector) have no retirement plan.
In "fact" you have been 100% wrong so far. But obviously yes, part time retail type jobs are not likely to pay such benefits. This is nothing new and that is not a reason for SS to exist.
that will never happen. Some people will just refuse and you know we're not going to leave them on the streets to starve and freeze.
Giant government dormitories. You share a 12 x 12 room with a roommate and have access to common areas. You must do appropriately assigned work in order to get your meals. Meals are cafeteria style with the residents preparing them , cleaning up, serving, etc. Residents clean the restrooms, mop, vacuum, take out the trash, etc.
Giant government dormitories. You share a 12 x 12 room with a roommate and have access to common areas. You must do appropriately assigned work in order to get your meals. Meals are cafeteria style with the residents preparing them , cleaning up, serving, etc. Residents clean the restrooms, mop, vacuum, take out the trash, etc.
Isn't that acceptable?
Sounds good to me. If people with the resources and smarts are just not interested in doing the right thing for themselves then why in the world should the tax payer foot any bill.
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