The Future Of The Greenback

#26
#26
If someone told you we have a retirement plan where we are going to force you to pay in for 40 years, never show the value of your total savings, and only pay you a small stipend and at your death inherit your life savings.

You would say this is criminal. Unfortunately this is our Social Security system. It's a great fraud pushed on the American people.

The problem with Social Security isnt social security. That is a great windfall for the govt. The problem is the abuse of it, people paying in 5 years and collecting for 40 yrs+, and the real problem, as we all know, is the government spending. They want to raid social security to cover the out of balance spending.

Hard to add anymore good to this.

Solid post.
 
#27
#27
I read an interesting article on the flight back from Nashville this week. An economist opined that the conventional wisdom of raising the SS retirement age was counterproductive and inherently damaging to our economy. His point was lowering the age for benefits would produce two benefits. By removing older workers, jobs for younger folks would become available more quickly. Also, by removing folks from the job pool, they essentially become consumers, thereby creating greater demand for goods and services. I don't know enough about economics or the sustainability/viability of the current SS budget but it was certainly an interesting approach. Not my opinion but someone's who definately is more informed than I.
 
#29
#29
I read an interesting article on the flight back from Nashville this week. An economist opined that the conventional wisdom of raising the SS retirement age was counterproductive and inherently damaging to our economy. His point was lowering the age for benefits would produce two benefits. By removing older workers, jobs for younger folks would become available more quickly. Also, by removing folks from the job pool, they essentially become consumers, thereby creating greater demand for goods and services. I don't know enough about economics or the sustainability/viability of the current SS budget but it was certainly an interesting approach. Not my opinion but someone's who definately is more informed than I.

That would make sense is SS benefits were enough to supplement income. Would have to force the private sector to decrease the reitrement age for ther plans, as well decrease the age at whe you can draw from your Roth w/out penalty. However, if all those pieces could be made to work, then it does ostensibly sound like a good plan.
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#30
#30
I read an interesting article on the flight back from Nashville this week. An economist opined that the conventional wisdom of raising the SS retirement age was counterproductive and inherently damaging to our economy. His point was lowering the age for benefits would produce two benefits. By removing older workers, jobs for younger folks would become available more quickly. Also, by removing folks from the job pool, they essentially become consumers, thereby creating greater demand for goods and services. I don't know enough about economics or the sustainability/viability of the current SS budget but it was certainly an interesting approach. Not my opinion but someone's who definately is more informed than I.

Very interesting. And with realUT's adjustments to IRA's, could be an option.
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#31
#31
Well, the really BIG problem with this plan is suddenly, people started living past 65! Whoops!

I don't think that is the biggest problem. I think its the disability abuse and allowing people into the program who paid hardly anything in. I heard on a radio show there are 15 million people in this country who are either on disability or have applied for it.

Hard to add anymore good to this.

Solid post.

:thumbsup:
 
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#33
#33
I don't think that is the biggest problem. I think its the disability abuse and allowing people into the program who paid hardly anything in. I heard on a radio show there are 15 million people in this country who are either on disability or have applied for it.



:thumbsup:

I like the way you think and express yourself. I also agree with realUT that focusing only on spending is the same as going off half cocked. We must raise tax revenue, not the tax rates. Eliminate loopholes, offshore tax shelters etc. Also the fact that only around 50% of the people pay taxes should be addressed. We ALL are going to have to take a bite from the giant poo poo sammich if we are serious about salvaging our financial future.

On an aside: the Taxmasters type commercial really tick me off. People that 'settle' their tax debts for pennies on the dollar while I pay full price boils my blood. Rant over.
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#34
#34
I like the way you think and express yourself. I also agree with realUT that focusing only on spending is the same as going off half cocked. We must raise tax revenue, not the tax rates. Eliminate loopholes, offshore tax shelters etc. Also the fact that only around 50% of the people pay taxes should be addressed. We ALL are going to have to take a bite from the giant poo poo sammich if we are serious about salvaging our financial future.

On an aside: the Taxmasters type commercial really tick me off. People that 'settle' their tax debts for pennies on the dollar while I pay full price boils my blood. Rant over.
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I hope that pennies on the dollar is the interest they owe on their taxes and not the taxes themselves. Thanks for the kind words, but most of that post I had taken from a financial show I listened to on the weekend, he made some great points about Social Security. :good!: I hope you win the fight with MS.
 

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