New Social Security rules

Fidelity.com ^ | 11/04/2015 | Fidelity

[arthurus]

Same age. I started drawing at 63. I cashed in my IRA at the same time, figuring with the state of the economy and SS i better get it while I can. I don’t regret. I sill work.

[trebb]

At my age (69), I hope it last a few years longer.

I'm 63 and wife is 65 - we both started claiming at 62. Here's hoping we all get what we paid for over the decades....

[arthurus]

It is Democrats who always accuse Republicans of being about to take away or reduce the SS pensions of the old folks and I believe it is Democrats who have reduced benefits several times. I am all for ending SS by cutting loose everyone below, say, 50 and continuing the payments to those older. I would even go for just ending it outright right now, even my own- I have been on it for 6 years.
If we must retain that particular bit of socialism we should go to the Chilean model. I believe several countries have instituted variations of that successfully. The Chilean model has proven to be inefficient and riddled with corruption but still pays out twice what Americans get as a function of contributions and the money is unavailable to the government. There is not one big basket of contribution money to be applied to governmental whims. There is no way to replace the funds with unredeemable IOUs.

[arthurus]

Slick is a Politician. Hussein is Nemesis.

[themidnightskulker]

Heck, I’m 47, and have been paying into the system since I was 15. I do not expect to see a single penny that I have “invested”.

[RKBA Democrat]

Social security is a welfare program. And like any welfare program the amount that it pays out,and indeed whether the program continues at all, is determined by the whims of the political class.

Looks to me like the social security welfare recipients are no longer as important to the political class. Sucks to be them.

But keep voting. By all means don’t stop playing the suckers game of the political class.

[Buckeye McFrog]

This is all p*sssing off the SS recipients. The inevitable blowback will be the election of Democrats to restore/increase benefits.

They don’t call it the Third Rail for nothing.

[GOPJ]

Thanks ronnie - I forgot the hundreds of millions of dollars given to Iran...

[rhoda_penmark]

“At least Slick Willie liked the Beatles and I did too. “

I have to admit, even though I can’t stand the dirtbag, he did promote music nicely when he was in office.

[FR_addict]

They wonder why so many of us want an outsider.

[FR_addict]

“Social security is a welfare program.”

You don’t pay in to a welfare program. This is a trust fund that has been raided by Congress many times. The big raid came under Johnson to pay for his welfare program, the Great Society. Social Security is also being used to pay people that are not seniors. We have been paying in to Social Security for over a half century.

[SouthParkRepublican]

That’s why he’s trying to replace us with immigrants whom are more aligned with his ideology.

[RKBA Democrat]

Naah. It’s a welfare program just like AFDC. The qualification criteria and means testing is of course different, but it’s still a wealth transfer program. The SS taxes you pay don’t entitle you to anything. You can pay in all your life and die before you get a dime back and your heirs will inherit a stack of tax receipts. There is no entitlement there other than the good will of the political class.

We should stop using the leftist premise that SS is anything but a welfare program. There is no lock box, no SS fund, just a bunch of IOU’s from a bankrupt government that can’t make good on it’s future obligations.