Posted on 11/25/2011 11:26:34 AM PST by SeekAndFind
It would mostly cover the property tax on my house.
ML/NJ
If you are paying 15K in property taxes you are paying wway tooo much!
A lot of these folks aren’t going to retire. They’ll either get laid off or they’ll die of terminal cancer or a stroke on the job.
You must have skipped over reading the stat that only 1.7 workers is paying in for every person collecting. This is unsustainable.
They will end up taxing every dollar that people make. That will make it sustainable for sure. Mark my words that is what the conclusion will be. There is no way that putting it in the stock market is going to go over for most American. It is putting every egg in one basket. Right now people’s 401K and investments are in the same place. Right now old folks are living on SS because their 401K and investments are practically ZERO.
Death by a thousand cuts.
Starting with Phony-Care.
I”m talking about civil servants and some private sector people who retired in their early 50s and cops and firemen who retired after 20 years.
NOT 65 year olds.
Oh! OK, in that case, you’re right!
There are numerous problems, that’s why Reagan’s word rings so true. There are many simple solutions but few easy ones.
1. Many baby boomers waited until they should have been ending there child rearing to begin it. When they and their family’s should have been saving for their retirement they were still trying to get their children into college and pay for it.
2. Many family’s were deluded by the idea that two workers would bring more income into the house. After the second child is born most family’s realize no added income from the wife’s job. A much better plan would have been to leave mom at home to build a lifelong relationship with the children rather than a transitional one.
3) The counter culture revolution and the entitlement mentality of many baby boomers was not the result of their parents teachings rather it was the result of numerous men who did not have the warrior mentality like, Howard Zinn, Chomskey and who came home from the war so psycologically wounded that they felt justified to teach others, our children, not to trust in their government but to milk it for all it was worth.
4)The sad fact is that Menken, (a man I personally despise) was correct when he said that the new deal required a new constitution. This is the Preamble, “We, the people of the United States, in order to form a more perfect union, establish social justice, draw the fangs of privilege, effect the redistribution of property, remove the burden of liberty from ourselves and our posterity, and insure the continuance of the New Deal, do ordain and establish this Constitution”. There was no reason to ever see the “New Deal” as any thing other than a Ponzi scheme, had it not been for WWII it’s failure would have become apparent much sooner and the catastrophe that looms large on our horizon would not be as dire and perhaps not their at all.
So their is more to this than us-them, there were mistakes made by all generations including those that followed the boomers.
How do we fix it now? Like I said No easy solutions but many simple ones, we must face the facts that retirement is a foreign idea to most cultures and certainly in a time when certain races are not even at a sustainable birthrate in the U.S. the idea of living longer off of what you’ve made than the time it took you to make it is over. Retirement has never been a healthy concept the majority of retirees after a brief period realize that the work they did gave their life meaning. Retirement? It’s over, get over it move on.
“So what do we do?”
A question the author of this piece refuses to provide an answer for.
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