Posted on 05/25/2005 8:42:08 AM PDT by qam1
The point is more people will cut off, if we dont stop the spiral.
Knock it off
Anyone my age or older who doesn't see this is suffering from a condition I call cerebro-rectalopathy.
You're kidding, right?
Believe it or not, it is conservative to desire cutbacks in socialism rather than advancement of it.
SS in its current form is not sustainable. It must be grandfathered out so that the younger people of our country will be able to support themselves, their families, and provide for their own retirements in the future.
No problem there at all. However, that has nothing to do with what I responded to. My response was to the notion that we should just cut loose Granny and Grandpa who're already depending on the SS check.
Folks below that age limit cannot expect their SS checks to be the amount "promised" them years before.
Not only can you take the money with you, or will it to your heirs. The government does not get the use of the money, or the interest while you are growing the nest egg.
Yes, proving they know the benfeits of investing. This leads me to conclude that if a democrat proposed this personal savings plan it would be supported by the AARP. In some respects, the plan will trigger a step in the stoc market investment, and whoever is in charge when it happens will get credit for this. Clinton proposed it too, only did not make much of a fuss over it.
We have not seen the details of the plan, but if like a 401 K, the plan will have low investment management fees and several choices of investment from "total stock market" to "total treasuries". I realize the govt may have to be draged away kicking and screeming when they see that they can't fondle the money anymore, but we should insist on this. (I also see where you are coming from, govt never saw a program that they could not mess up via their participation.)
My mom and dad were born in 1921, and 1922 respectively...I remember, during the 70s, my mom kept saying, that she doubted if Social Security would be around when they got ready to retire...she and dad planned their senior years around what they could save for themselves, plus dads retirement from Sunbeam....when they did retire when dad was 60, they were surprised that Social Security was still around...so getting their Social Security checks when they turned 62 was a surprise to them, and added money to their nest egg...
So I grew up, believing that Social Security would never be around for me...I was born just before the beginning of the Baby Boomers, in late 1945, my hubby a few years before that time, ,born in 1943....the hubby just retired, less than a month ago, at age 62....sure, he gets a lower Social Security monthly, but heck, he does not even know if he will live long enough to wait for a full check at age 66...he wants to enjoy life now, not spend his last few years working....so his army retirement, plus his postal office retirement, plus both of our social security checks, really is more than enough for us...but we both never thought Social Security would be around...our true savings came in the form of the Thrift Savings Account, we started and maintained at the post office...used wisely, the amt we draw in an annuity each month, about equals the interest we gain, so we almost never touch the principal...that way, we could live many, many years and enjoy our life...
My older boy died early, at age 15, many years ago, so he never contributed to Social Security, , but will also never draw any...so it evens out...
Our younger son, is 30, unmarried, and makes tons of money, but also pays tons of Social Security taxes...but all his life he heard his grandparents, and us, his parents, warn about the eventual failing of Social Security...so from the beginning of his working career, he has always saved towards his eventual retirement, as he never wants to rely on Govt, to support him, and he hopes we, his parents, spend all of our money before we die...he does not want to inherit a dime from us.....so he looks to himself, as the sole person responsible for his own retirement...he figures by the time he is old enough to retire, Social Security will be a bust...
It is beyond me why seniors dont care what happens to those who are left working after they are gone...that attitude just confounds me...I worry(as parents should do)about my surviving child, about any possible grandchildren he may have(if he ever settles down), and what their financial future will be....thank goodness, my son has shown that he understands what he should do for himself for his old age, and he acts on that...
We should all worry about how we leave the world when we die...leaving it in a terrible financial condition is a nasty epitaph...
The elderly who are against Social Security reform are greedy and selfish. That's all there is to it. They simply don't care if the country goes down in flames, or if their grandchildren endure near-slavery under a crushing tax burden. Logic does not work. They want what's yours, and they intend to get it. If America declines to European status or worse in the process, so be it.
It infuriates me, frankly, because I'm one of the ones they are bilking.
Exactly. It is not a retirement program, it is a welfare program. No one pays into anything.
I'm sure you are a generous person, but I don't recall you paying for my education or helping me along the way. I don't owe you Social Security. As a Christian God teaches us to help others, but I resent having my "charity" taken from me by force to be redistributed.
You are very correct, this is why the democrats are correct when they say Bush's plan will end social security. First the government will handle the deduction and investment for you, and at some time in the future a second change would be to let you handle it yourself. Of course there is the question of whether people would save or spend once they are fully in charge. We seem not to be able to cut off someone who has made foolish choices all his life. Thus some program of mandatory saving still with the employee handling the transaction does not seem unreasonable. Especially when compared to a the present system where the money is taken by the friendly government and simply spent on something else.
This is very true - sometimes tens of thousands of dollars more!
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