Posted on 10/09/2013 10:15:32 AM PDT by originalbuckeye
I just heard my Conservative radio hosts discussing what is being put on the table by the Republicans in the House. They said Ryan is pushing means testing for SS benefits.
(Are you crazy?)
That's what I've learned since getting the boot in the ass into early retirement.
Everything I do for myself all day long is not taxable.
I'm no longer a slave to the gov't for 40% of my daytime productive hours.
Earned Income Tax payers spend ~40% of their working day working for the "greater good" while the takers spend 0% of their day working for same. (I'm currently in limbo, taking no gov't "handouts", but still every hour of my Day is my own. It feels good emotionally.)
Please keep your comments to me on the thread?
Thanks,
CL
Means test = soak the rich. Applying means tests to S.S. is a very short term fix (plus a sop to the jealous poor) as there simply are not enough “rich” to soak.
S.S. is so broke, has so over promised benefits that the only real fix is to cut all benefits by one-half now and to tell younger wage earners/S.S. taxpayers that they should start individual IRAs or 401Ks as S.S. won’t be there for them.
ObamaCare may have to rachet up the death panel quotas as well to cut down on the benefit drawer numbers.
I think we need to rename SS “Socialist Slavery”, and then our brethren will more accurately understand its nature.
Plenty here believe benefits are sacrosanct in a world where we’re already broke.
The big difference is that bondholders chose to buy into those bonds, they weren’t forced to do so.
In a country that is not a banana republic, you purchase low risk bonds because the possibility of default is low, and if the entity you invested in does go down, your position in line for the scraps from the carcass are protected by LAW. Except when Obama is in charge.
maybe you can buy your DIL’s car for $100 and let her “borrow” it
I know it is not much but I sure am sorry she and her family have to go through all this
Is there a church she belongs to that can provide some support?
email me
I empathise with your whole post. However, to paint a picture, and sorry for being overdramatic, but it is like being a German citizen surrenduring to the Soviet troops as they take Berlin and demanding your retirement account.
I think a lot of us are going to be in essentially that position, sans guns and tanks. Well, maybe just the guns.
You overlook the fact that many SS check recipients collect far more $$$$$ than they ever paid into it. You support that, too?
And here was my answer:
“Miracle of compounded interest. I expect to get far more from my 401k than I ever put into it. Your question is invalid.”
I’m being too flippant, I’m sorry. Let me amplify a little...
If a person works their whole life, paying in to SS, the payout is reasonable. You brought up some good examples why that’s not always the case: The rules allow someone who only works a few consecutive quarters to collect as if they paid their whole life, and that is not right. You have good points, and I rubbished them. I apologize.
Social Security is already means tested, in that the percentage of it subject to tax increases with income.
Circular arguement.
1) there IS no fund.
2) if you are going to pay less to those who have other income besides SS, that is in and of itself “means” testing.
The guy is married and his spouse recieves a payment, also. But, together the family made $ 2mm and received a total of $ 50K. I saw the docs.
Based upon the SS rates back when this fellow began work, he likely recovered his total tax bill in 3 years or less. The death benefit to his spouse will be HIS amount for her life, and yes this is a tragedy.
Those numbers look right.
I was over the withholding limit every year that is counted in my calculation, I retired a year before FRA, and get 2400 and change.
Well - the jury is still out about whether I’ll make it there or not. I’m on the working payroll for at least another 2 years while kid finishes college, and will actually be qualified to start pulling out about 4 years after that.
So time will tell whether there will be any SS in 6-8 years?
No Child Left Behind √
TARP √
Stimulus √
Auto bailout √
Amnesty - TBD
SS means testing - TBD
No wonder the severe conservative picked PR as his '12 running mate.
Paul Ryan is a phoney. He caught the DC disease pretty quick.
Means testing, in my opinion, is socialist and very un-American.
Let me get this correct:
1) I start working in my 20’s
2) The feds put a gun to my head and forcibly take 6.2% of everything I make up to $113,770 for 2013 and my employer has to match it (or I pay the other half if self-employed)
3) I live a good life, work hard, grow my income, save and invest, buy a house, etc. and achieve the American “dream”
4) OOPS, how dare I retire and expect the money FORCED from me and PROMISED to me I can’t have because of #3?
Wow, yet another lie told to me by the government, imposed by Democrats over decades (and the program ruined by same) only to have a so-called Republican “conservative” tinker around the edges.
Sickening. Why can’t these cowards just admit it’s a STUPID ponzi scheme and start weening folks off of it. Instead of means testing use arbitration...the trust fund is dead anyway so pay them off now. I’ll take 20% of everything I’ve put in so far if I 1) don’t have to pay into it any longer and 2) won’t ask for benefits later.
And Gates paid more than most since for most of his life he’s met the cap.
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