Crap Throwing Monkey Posted June 20, 2006 Posted June 20, 2006 Now this is friggin scary: Linky Thingy 710967[/snapback] No, seriously...what's the real plan...
KRC Posted June 20, 2006 Author Posted June 20, 2006 No, seriously...what's the real plan... 711153[/snapback] I thought you would enjoy it.
Crap Throwing Monkey Posted June 20, 2006 Posted June 20, 2006 I thought you would enjoy it. 711163[/snapback] I got a 1906 Indian Head penny in my change when I bought breakfast this morning. Personally...I think that (receiving the occasional rare penny with breakfast) is a far more reliable retirement plan than that Social Security plan...
KD in CA Posted June 20, 2006 Posted June 20, 2006 Up to a $7500 tax increase for the middle age, middle class earners. Great idea, that group certainly isn't paying enough taxes.
Chef Jim Posted June 20, 2006 Posted June 20, 2006 My ultimate fear is that SS benefits will be based on how much you have in personal retirement accounts. Those with nothing: full benefits. Those with plenty: nothing. It's the American way right? Punish the people who have worked hard and planned and reward the slackers.
Crap Throwing Monkey Posted June 20, 2006 Posted June 20, 2006 My ultimate fear is that SS benefits will be based on how much you have in personal retirement accounts. Those with nothing: full benefits. Those with plenty: nothing. It's the American way right? Punish the people who have worked hard and planned and reward the slackers. 711286[/snapback] But successful people don't get that way because of planning and hard work. They're successful because they take advantage of innocent, everyday people. So it's only fair that robber-barons like you and me should be punished for exploiting people like meazza and stevestojan... And that's why Congresscritters get guaranteed pensions and cost-of-living raises...because they protect Americans from exploitation.
GG Posted June 21, 2006 Posted June 21, 2006 So it's only fair that robber-barons like you and me should be punished for exploiting people like meazza and stevestojan... 711313[/snapback] Karl Marx would be proud.
IBTG81 Posted June 21, 2006 Posted June 21, 2006 So it's only fair that robber-barons like you and me should be punished for exploiting people like meazza and stevestojan... 711313[/snapback] I'm not included?! Tom, I think you're beginning to loooooooooooooove me...
meazza Posted June 21, 2006 Posted June 21, 2006 But successful people don't get that way because of planning and hard work. They're successful because they take advantage of innocent, everyday people. So it's only fair that robber-barons like you and me should be punished for exploiting people like meazza and stevestojan... And that's why Congresscritters get guaranteed pensions and cost-of-living raises...because they protect Americans from exploitation. 711313[/snapback] I take advantage of the system, because I learned from the best.
/dev/null Posted June 21, 2006 Posted June 21, 2006 Karl Marx would be proud. 711752[/snapback] Karl is a lesser intellectual than the other Marx's
meazza Posted June 21, 2006 Posted June 21, 2006 Karl is a lesser intellectual than the other Marx's 711990[/snapback] What about Lenny, did you read his book?
/dev/null Posted June 21, 2006 Posted June 21, 2006 What about Lenny, did you read his book? 711992[/snapback] You talking about Lenny from the Simpsons? He is a great mind but doesn't get the credit he deserves because everyone is focused on Karl
meazza Posted June 21, 2006 Posted June 21, 2006 You talking about Lenny from the Simpsons? He is a great mind but doesn't get the credit he deserves because everyone is focused on Karl 711997[/snapback] All because of affirmative action
Orton's Arm Posted July 12, 2006 Posted July 12, 2006 Something needs to be done about social security. Of the ideas the authors presented, I feel increasing the retirement age is the best. People are living longer than ever before, so it makes sense they should retire later. The worst idea is the tax rate increase: taxes are too high already.
JimBob2232 Posted July 12, 2006 Posted July 12, 2006 I see alot of people against this proposal, but I see no reasons why. Lets start with the facts a) Social Security will go bankrupt in the next 20 years. b) Workers under the age of 40 are unlikely to see ANY benefit from the current plan, yet are paying in 6.2% of their salary into social security. Something needs to be done. Personal accounts HAVE to be part of any social security reform. Money YOU put in needs to be there for YOU when YOU retire. Right now, money in the social security system has a NEGATIVE rate of return. How money in your account is invested is another matter entirely. Only allow it to be invested in a money market account for all I care, we NEED individual accounts. Now, the problem is this. If we start putting money into our newly created private accounts, it takes away the money available to fully fund the current system. This poses a problem. This article makes it sound like they will take many corses of action to solve this shortfall. I dont agree with all the proposals for this, but I think its a good start and a good debate to have. Once we decide to have personal accounts, the rest is water under the bridge. People have fallen for the typical scare tactic often used in politics. Privatization=bad. People will blow their money investing in Enron. Its simply not true. If done properly, the riskiest investment one can make would be to invest in a total market index fund (S&P 500, wilshire 5000 or equivalent). You pay in every 2 weeks and dollar cost average. This is NOT risky folks. If you make 40k a year, and you pay 6% into a private account, thats 200/mo. And if you could get JUST 3% real rate of return on that money (a bank CD would do), you would have over 185k in the bank over a 40 year career. If you could then get 5% per year interest during retirement, and didnt touch the principle, thats $9,250 per year in retirement income. Nearly 1/4 of your salary from social security. Again, thats IF YOU DID NOT TOUCH THE PRINCIPLE. This is pure logic (and math) folks. I cant imagine why anyone would be against this.
Chilly Posted July 12, 2006 Posted July 12, 2006 Up to a $7500 tax increase for the middle age, middle class earners. Great idea, that group certainly isn't paying enough taxes. 711203[/snapback] From the retirement savings of middle class earners, directly into paying for the retirements of other people.
Pine Barrens Mafia Posted July 12, 2006 Posted July 12, 2006 I was railing on my father about SS the other night. He claims he's a taxapayer. He's retired. No income=no income tax. OF course, he's gotta pay tax on interest income, but that's peanuts compared to people who actually WORK.
HereComesTheReignAgain Posted July 12, 2006 Posted July 12, 2006 Something needs to be done about social security. Of the ideas the authors presented, I feel increasing the retirement age is the best. People are living longer than ever before, so it makes sense they should retire later. The worst idea is the tax rate increase: taxes are too high already. 721628[/snapback] How about raising the retirement age to "whenever you save enough to quit working". Get rid of SS completely but do not give in when the people in society that were simply too lazy to work beg for help from the hard working members of society. I work in a 401(k) dept and see people take out their puny 401(k) balances all the time when changing jobs..."hey it's free money" Everyone knows that the Government doesn't let you starve no matter how unwilling you are to work or save. We need to focus our welfare efforts on those who truly need it and have no other means to support themselves. I think we all know someone who is too "dissabled" to work but bowls, plays softball, etc. every weekend. How many people wait to look for their next job until their unemployment runs out. Have you ever been behind someone at the food store who buys food with food stamps or WIC and tobacco and booze with their own money? The working man is a sucker.
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