Posted on 04/22/2015 5:28:14 AM PDT by Kaslin
Maybe Krispy should offer up his government pension in solidarity.
Continuing to raise the retirement age is an excellent idea - I would not have expected it from Christie. I still will not vote for him or for anyone who does not support (1) protecting our borders, (2) protecting our God-given right to keep and bear arms, and (3) repealing Obamacare. Still, it's nice to hear a leading RINO endorse the only responsible option. I'd add three years instead of two to the retirement ages, two months of age for each year that passes (so it would take eighteen years to add the full three years), since the program is not sustainable otherwise.
I would support pretty much everything in Christie’s Social Security plan and I’m of an age and in an income bracket where it would hit me fairly hard. I’d also support a fairly radical overhaul of Medicare. The money I’ve been paying in Social Security over the past 30 years is gone. Its not in some account. No one can give it back to me. the people who spent it — our parents, grandparents and great grand parents’ generations — are dead. Combine this with fairly large cuts in Welfare and other social welfare programs and we may actually put the country back on solid fiscal footing.
It would solve many problems if they raised the retirement age to 79 and the minimum wage to $393.57 an hour.
/s/
IMHO
There is a generation-sized chunk of cash which is simply -gone- due to demographic changes and the unwillingness of politicians to fund what they have "promised".
No one under 50-55 is ever going to get back what they have paid in, and the sooner this is faced the better for all concerned.
In order to make SocSec solvent, there must be either large tax increases on the young (which will not be reflected in their eventual benefits) or large benefit cuts (approx 20%) on recipients.
I would prefer the latter, and across the board rather than means tested.
The second reason is that he's very familiar with the demographic and financial disaster facing Social Security and Medicare. The cost of supporting retirees has driven New Jersey to the brink of insolvency, and his successful campaigns in this state were based largely on his goal of reining in these costs to ward off a financial disaster.
When push comes to shove, they’re just going to eliminate the cap.
This country is simply going to euthanize people before they ever collect much money in cash and benefits from Social Security and Medicare.
Part of the problem is that you can’t get decent interest on your savings anymore. And it keeps getting worse. Would not be surprised to see negative interest rates within a decade, which is akin to a “wealth tax”. To me, this is a backdoor, unlegislated Social Security cut. And if you think its just a coincidence, I’ve got a bride in Brooklyn to sell you.
That’s the concept behind raising the retirement age.
Christie undoubtedly committed political suicide with this proposal. While it's not a platform he'll ever be able to run on, it's a subject that must eventually be addressed. I admire his courage in at least bringing up the topic. Obviously, Warren's idea of increasing SS benefits must be shot down quickly because there's no financial way to achieve that under the current system.
How about freeing us from Social Security. Shut it down.
Pray America is waking
And what about the elderly like I who are on Social Security? Tough luck, huh?
Without the government, I guess we would all die. Can you say enslaved?
I guess they’ll have to rework the mortality tables and put in tiered benefits so that the minorities get their fair share!! (/s)
Do you know why you can't get "decent interest" on your savings? It has to do with monetary policy. There's always a price to pay when the Fed controls the money flow. Either money can be had cheaply (making interest rates low), or money can be hard to get (making interest rates higher.)
For the past couple of decades, money has been easy to get, and rates have been low. That's supposed to be good for business and the economy in general. Unfortunately, that's bad for savers in banks and "safe" investments such as government bonds.
I'm not advocating for a particular policy, a tight or loose supply, I'm only suggesting that there are trade-offs with each approach.
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