First boomer applies for Social Security

#1
utvolpj

utvolpj

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#1
And so it begins...

First boomer applies for Social Security - Yahoo! News

The nation's "first" baby boomer, a retired teacher from New Jersey, applied for Social Security benefits Monday, signaling the start of an expected avalanche of applications from the post World War II generation
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An estimated 10,000 people a day will become eligible for Social Security benefits over the next two decades, Astrue said. The Social Security trust fund, if left alone, is projected to go broke in 2041.
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Anyone see a way to slow this down? I'd better just admit that my retirement savings are all I will ever see.
 
#2
#2
utvolpj said:
And so it begins...

First boomer applies for Social Security - Yahoo! News



Anyone see a way to slow this down? I'd better just admit that my retirement savings are all I will ever see.
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Get rid of ALL illegal immigrants and get the people off of welfare that don't need to be on it. Plus you could say that not everyone that is on disability needs it either. So basically get rid of the leeches.
 
#3
#3
g8terh8ter_eric said:
Get rid of ALL illegal immigrants and get the people off of welfare that don't need to be on it. Plus you could say that not everyone that is on disability needs it either. So basically get rid of the leeches.
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That would be a H$LL of a start. It has to start somewhere. :good!:
 
#4
#4
What does welfare have to do with Social Security?

Here's a shocking idea as well. Make the trust fund where NO ONE in government can touch it. Perhaps not dipping in that trough to pay for everything else might save some money as well.
 
#5
#5
Perhaps the government not being involved at all in a person's retirement. Now that would be a grand idea.
 
#6
#6
CSpindizzy said:
What does welfare have to do with Social Security?

Here's a shocking idea as well. Make the trust fund where NO ONE in government can touch it. Perhaps not dipping in that trough to pay for everything else might save some money as well.
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So kinda like a "lock box"?
 
#7
#7
allvol123 said:
Perhaps the government not being involved at all in a person's retirement. Now that would be a grand idea.
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I agree. But how is this accomplished? Do you think politicians of both parties are going to willingly give up their treasure chest of money they can pull from constantly?
 
#9
#9
Bush's idea for a prescription drug plan for seniors was brilliant. That's what I call making the hard choices.
 
#10
#10
oklavol said:
Bush's idea for a prescription drug plan for seniors was brilliant. That's what I call making the hard choices.
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It was a very bad idea to try and out Democrat the Democrats on that one.
 
#11
#11
CSpindizzy said:
I agree. But how is this accomplished? Do you think politicians of both parties are going to willingly give up their treasure chest of money they can pull from constantly?
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Exactly the problem. Social Security is a cash cow for the federal treasury and the AARP along with both political parties have been successful in scaring everybody into thinking it's untouchable.
 
#13
#13
Being against new entitlement programs and being a consumer advocate are not mutually exclusive.
 
#15
#15
CSpindizzy said:
What does welfare have to do with Social Security?

Here's a shocking idea as well. Make the trust fund where NO ONE in government can touch it. Perhaps not dipping in that trough to pay for everything else might save some money as well.
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Just think, if all the people who could work did work, the country wouldn't be getting sucked dry from both leeches on the SS side and the Welfare side. So yes, welfare has ALOT to do with SS. Where do you think the money for SS comes from??
 
#16
#16
In addition to some form of lock box - permit the trust fund to operate like one and make real investments.
 
#17
#17
CSpindizzy said:
Here's a shocking idea as well. Make the trust fund where NO ONE in government can touch it. Perhaps not dipping in that trough to pay for everything else might save some money as well.
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Great idea but isn't it a little too late for that?
 
#18
#18
g8terh8ter_eric said:
Just think, if all the people who could work did work, the country wouldn't be getting sucked dry from both leeches on the SS side and the Welfare side. So yes, welfare has ALOT to do with SS. Where do you think the money for SS comes from??
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Those on welfare would not be making substantial contributions to the Fund. They would be pulling more out than putting in. We're talking pennies here.
 
#19
#19
justingroves said:
Great idea but isn't it a little too late for that?
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Nope. Considering we keep pouring in a little more from the federal tax portion to "bail it out" it is never too late to protect it. It will force the politicians to check spending. Of course they would never willingly cut off their cash cow system for buying votes.
 
#20
#20
CSpindizzy said:
Those on welfare would not be making substantial contributions to the Fund. They would be pulling more out than putting in. We're talking pennies here.
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Just think about the lazy asses who can work but don't. Wonder if they got up off their butts and contributed to society if it would make a dent?? Just think, if someone who is receiving $1,000 dollars in welfare per month that can work got a job, that would be an average savings of at least $1,000 per month because they aren't on welfare. So lets do some math here. If 1,000,000 people got jobs that can work and got $1,000 per month for welfare before that, it would be $1,000,000,000 we would save per month. Even if it was half that I could live with our government saving money and taking it back from the deadbeats of society. Welfare is supposed to be temporary, not a way of life. Plus not only that, but they would contribute to the SS system from their checks. Sounds like a good start to me.
 
#21
#21
CSpindizzy said:
What does welfare have to do with Social Security?
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Maybe if all the people who leech off Government Aid got a job, and contributed to the system, the keel would even out some. I hate hearing "Theres no work". Tell ya what, if these sponges worked 40 hours a week bagging groceries or working the register at Dillard's, and still fell short of their basic expenses, i'd gladly have the government make up the difference. But to sit home and piss and moan about how a job is "below them" while they collect aid, eat well, and drive Acuras with $2500 rims, is BS. You know it, I know it, and it's a waste.
 
#22
#22
allvol123 said:
Perhaps the government not being involved at all in a person's retirement. Now that would be a grand idea.
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I don't feel that social security was EVER meant to be a "Retirement". I see it all as a "Thanks for being a productive citizen for all these years you punched the clock."

Sure, the check is nice, but it shouldn't be a lone source of income. Pensions are becoming non-existant, so a 401k or company backed IRA are good moves. If your company doesnt offer one, start your own! It isn't hard to do, only maybe $500-1000 initial investment, tax deductable. Play it safe, give what you can at the end of the month, and watch it mushroom
 
#23
#23
It's interesting that both Hillary Clinton and George Bush seem to have proposed the same basic plan for reforming social security: retirement accounts.

While I think something should be done as the system is spending at a greater rate than it's taking in at this point, I worry that shifting payroll tax from our current system to an individual account system would lead to a big tax increase to cover the legacy costs of the current trust fund because suddenly their would be no more tax money to service the trust's existing obligation (that made sense to everyone, I hope).

I'm not at all in favor of cutting benefits because to me that would mean that government is breaking its promise to the people who have already payed in.

Basically I just don't see anyway of getting out from under the spiraling costs of social security, though I think we desperately need to.

Thoughts?
 
#24
#24
utvolpj said:
I'd better just admit that my retirement savings are all I will ever see.
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If you are under 40, you will see little (if anything) out of SS. By the time you reach 65, the retirement age will have to be pushed up to 72 and benefits will be reduced.

I haven't lost a days worth of sleep on losing my SS because I've resigned myself to the fact that I won't receive jack s#!t...
 
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