Someone needs to say to those who want Social Security and Medicare to continue on unchanged: "Don't you understand? The money is not there any more."
Many retired people remember the money that was taken out of their paychecks for years and feel that they are now entitled to receive Social Security benefits as a right. But the way Social Security was set up was so financially shaky that anyone who set up a similar retirement scheme in the private sector could be sent to federal prison for fraud.
-Thomas Sowell
http://lewrockwell.com/sowell/sowell49.1.html
Quote from: redcliffsw on June 24, 2011, 07:41:50 AM
Someone needs to say to those who want Social Security and Medicare to continue on unchanged: "Don't you understand? The money is not there any more."
Many retired people remember the money that was taken out of their paychecks for years and feel that they are now entitled to receive Social Security benefits as a right. But the way Social Security was set up was so financially shaky that anyone who set up a similar retirement scheme in the private sector could be sent to federal prison for fraud.
-Thomas Sowell
http://lewrockwell.com/sowell/sowell49.1.html
You know, yes we do want it changed. Seriously. The change is, privatization. Make each account owned by the person. That way you can keep the damn government out of it. Secondly start it with anyone under 40. That will give them time to build up their retirement. IN FACT, if you do this, the stock market has a history of growing over time. It has grown steadily since the last depression and on through this current one. IT IS NOT A SHORT TERM INVESTMENT. You really won't lose.
But back to those of us who have paid into the SS scheme. YOUR DAMN RIGHT we are entitled to what we paid in. THey made a contract with us and by God they will honor that contract or you'll find a whole lot of bluehairs with sawed off shotguns at their front door. What has a 80 year old Got to lose if you take his social security check. Not a damn thing. So when these politicians start talking bout cutting out social security, they aren't just quaking in their boots for nothing, they are quaking cause they know that if they touch anyones SS that is over 65, they will have a literal war on their hands and that the folks that will be shooting at them do not have a thing to lose. What is the government going to do? Lock em up? Kill them? So what. They got like what 20 years left? 20 years of starvation if they take their checks. Or lock them up. Woo hoo you hit the jackpot if that happens. SHooot 70 years old, too old for the boys in prison to bother them, plus you get 3 squares, a bed, warm place to sleep, cable tv, pool tables, weight rooms, gyms, personal security, and if something breaks on your body, they take ya to a hospital and patch you up. No copays.
Yeah the older folks know full well they got the power.
The solution is this......Privatize anyone under 40. Fulfil their obligation to anyone over. It will hurt for a while. But they owe us that much. I suspect that they would have to raise SS tax about 3.5% take that 3.5% to fund out the rest of those over 40. Maybe not. But the key thing that those under 40 will have for the loss of 3.5% They will have a account that they will build up at a reasonable interest rate instead of 1%. They will be able to leave their money to their heirs when they die. in 20 years their Privatized accounts would produce over 2 million dollars for their retirements based on a reasonable 5% return on a average of around 100 bucks a month input of money. Thats a deal.
Chile did this and it works like a charm. I think houston texas govenrment did this for their employees and it works.
Quote from: srkruzich on June 24, 2011, 08:21:46 AM
Chile did this and it works like a charm. I think houston texas govenrment did this for their employees and it works.
Singapore has a similar system.
Ok, I'm going to ask a silly question, but are they no longer paying people their social security? I am not sure, I have heard over and over again, that by the time I am old enough to retire there won't be SS. Is this true or some truth to it? I really need to catch up on things??
Yes,I get mine every month. In fact I just got a letter from SS today telling me my check will increase a bit next month because the cost of living increased.
Quote from: Diane Amberg on June 24, 2011, 01:15:30 PM
Yes,I get mine every month. In fact I just got a letter from SS today telling me my check will increase a bit next month because the cost of living increased.
DO WHAT? Why the hell aren't we getting our colas??
Don't have a clue as to what Diane is talking about, but the January 1, 2012, SS cola stood at a 2.8% increase to SS as of June 15.
That amount is subject to change up or down between now and October 15, when the actual cola for 2012 will be announced.
I'm talking about a letter I got today .It says in part "The next check you are you receive will be for $51.00 which is the money you are due through May 2011." "Your next scheduled payment of......($3.00 more) which is for June ...2011, will be received on or about.....July 2011 After that you will receive ......on or about the .....of each month. My payment has a catch up check and then will go up by $3.00 per month as of next month. I'm sure it's not just because of my good looks and winning ways. :angel:
Quote from: W. Gray on June 24, 2011, 05:28:58 PM
Don't have a clue as to what Diane is talking about, but the January 1, 2012, SS cola stood at a 2.8% increase to SS as of June 15.
That amount is subject to change up or down between now and October 15, when the actual cola for 2012 will be announced.
:| wow big 35 dollars and my insurance will go up 60
Yup ,for sure.
There is, in fact, supposed to be a large increase in the monthly Medicare insurance premium for 2012.
Something called the Conservative Daily News is reporting a 20% rise.
Quote from: W. Gray on June 24, 2011, 06:21:42 PM
There is, in fact, supposed to be a large increase in the monthly Medicare insurance premium for 2012.
Something called the Conservative Daily News is reporting a 20% rise.
Yes i know. that would put me at a 60 dollar increase. THey are intending to increase it to over 250 dollars a month by 2013 or 14.
SOB up there cut our care and damned if he didn't screw us all.
From factchech.org:
Only 27 percent of Medicare beneficiaries are paying the basic rate. The rest — 73 percent — are paying less under a "hold harmless" provision triggered by the lack of a cost-of-living increase in Social Security this year or last year. Most are still paying $96.40.
As for the future, nobody can say with precision what the basic Part B premium will be next year or the year after, let alone in 2014. The premium is set each year at a level calculated to pay for 25 percent of the cost of the coverage. Medicare officials do keep close watch on the trends, however. And when we contacted Medicare's Office of the Actuary, we were given these projections — the most recent available — which are current as of the president's budget for fiscal year 2012 issued in mid-February:
Medicare Part B Standard Premium (projected, February 2011):
2012 $108.20
2013 $112.10
2014 $117.10
Source: Center for Medicare & Medicaid Services
Office of theActuary
Quote from: Warph on June 24, 2011, 07:49:53 PM
From factchech.org:
Only 27 percent of Medicare beneficiaries are paying the basic rate. The rest — 73 percent — are paying less under a "hold harmless" provision triggered by the lack of a cost-of-living increase in Social Security this year or last year. Most are still paying $96.40.
As for the future, nobody can say with precision what the basic Part B premium will be next year or the year after, let alone in 2014. The premium is set each year at a level calculated to pay for 25 percent of the cost of the coverage. Medicare officials do keep close watch on the trends, however. And when we contacted Medicare's Office of the Actuary, we were given these projections — the most recent available — which are current as of the president's budget for fiscal year 2012 issued in mid-February:
Medicare Part B Standard Premium (projected, February 2011):
2012 $108.20
2013 $112.10
2014 $117.10
Source: Center for Medicare & Medicaid Services
Office of theActuary
I'll believe it when i see it. After the election he has nothing to lose hiking it up sky high
Are you assuming Pres.O will win a second term?
Quote from: srkruzich on June 24, 2011, 11:21:14 PM
I'll believe it when i see it. After the election he has nothing to lose hiking it up sky high
Steve.... Obuma is a ONE TERM president... he will not be around after the 2012 election!
PLEASE be right WARPH !!!
Hell... I'm always right! .... (until I'm wrong)
Quote from: Warph on June 25, 2011, 09:57:15 AM
Steve.... Obuma is a ONE TERM president... he will not be around after the 2012 election!
I don't have that much faith in the American Voter warph. Too many idiots are allowed to vote.
Sure are a lot of voters being paid by the government. Just doesn't seem right does it?