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Social Security going bust: The inconvenient issue Login/Join 
I believe in the
principle of
Due Process
Picture of JALLEN
posted Hide Post
quote:
Originally posted by grumpy1:
My guess is they will start means testing SS benefits in the future. You have 1 million or more in assets in home equity and 401K/IRAs/investments? No or very reduced SS for you. Just not fair you know that millionaires get SS.

If they really do end up reducing benefits by 17 percent I wonder how that will work out if general welfare recipients face no reductions and SS recipients do.


Aren't benefits proportional to what one has paid in?

Even Warren Buffett has had to pay on his salary. Why should he not get the benefits of someone who paid those levies? He made $50,000 per year for years and got a raise to $100,000 some years ago.

I paid in based on my earnings for over 50 years, the last 25 or so at the maximum. Aren't I deserving?




Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
 
Posts: 48369 | Location: Texas hill country | Registered: July 04, 2005Reply With QuoteReport This Post
Lawyers, Guns
and Money
Picture of chellim1
posted Hide Post
You are indeed deserving.
It was sold as a contribution to a retirement savings plan.
To cut out those who have paid in through "means testing" makes it a pure welfare plan.



"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible."
-- Justice Janice Rogers Brown

"The United States government is the largest criminal enterprise on earth."
-rduckwor
 
Posts: 24881 | Location: St. Louis, MO | Registered: April 03, 2009Reply With QuoteReport This Post
Paddle your
own canoe
Picture of BigWhup
posted Hide Post
quote:
Originally posted by lastmanstanding:
My first SS check just hit the bank last Friday. I didn't wait a day to file once I became eligible.


Ditto here. Hell. I don't even buy green bananas!

I ran a spreadsheet and it takes about 17 years before the higher rates at 70 catch up to the 62 1/2 payments.
 
Posts: 1577 | Location: South Carolina | Registered: August 06, 2009Reply With QuoteReport This Post
No double standards
posted Hide Post
quote:
Originally posted by BigWhup:
quote:
Originally posted by lastmanstanding:
My first SS check just hit the bank last Friday. I didn't wait a day to file once I became eligible.


Ditto here. Hell. I don't even buy green bananas!

I ran a spreadsheet and it takes about 17 years before the higher rates at 70 catch up to the 62 1/2 payments.


Did you use present values in your calculations?




"Liberty lies in the hearts of men and women. When it dies there, no constitution, no law, no court can save it....While it lies there, it needs no constitution, no law, no court to save it"
- Judge Learned Hand, May 1944
 
Posts: 30668 | Location: UT | Registered: November 11, 2003Reply With QuoteReport This Post
No double standards
posted Hide Post
quote:
Originally posted by JALLEN:....Aren't benefits proportional to what one has paid in?...
I paid in based on my earnings for over 50 years, the last 25 or so at the maximum. Aren't I deserving?


Maybe related. I teach part time at two colleges in Silicon Valley (which combined is full time). But because I am not officially full time, I have defined contribution retirement plans, not defined benefit plans. But, as a state employee, I do not pay into social security, have no such withholding. (There is a medicare equivalent withholding).

I understand that college prof's with defined benefit retirement plans have the monthly payout of such plans compared to any monthly social security retirement they may have earned, and one or the other is cut if over some combined max.

So whether or not you earned it, or deserve it, if the money can go to someone who needs it more than you do, too bad. . .




"Liberty lies in the hearts of men and women. When it dies there, no constitution, no law, no court can save it....While it lies there, it needs no constitution, no law, no court to save it"
- Judge Learned Hand, May 1944
 
Posts: 30668 | Location: UT | Registered: November 11, 2003Reply With QuoteReport This Post
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