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Re: Coming Generational Storm - Free Book
Old 03-07-2007, 06:18 PM   #21
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Re: Coming Generational Storm - Free Book

They will solve the problem by progressive tax on Social Security. They will not reduce it directly or cut it, rather they will tax you more heavily if you have additional income resources over a certain amount. It stinks...
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Re: Coming Generational Storm - Free Book
Old 03-07-2007, 06:26 PM   #22
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Re: Coming Generational Storm - Free Book

Quote:
Originally Posted by chinaco
They will solve the problem by progressive tax on Social Security. They will not reduce it directly or cut it, rather they will tax you more heavily if you have additional income resources over a certain amount. It stinks...
If you look at the book you'll see that what you have proposed is not nearly enough to solve the problem.

The solution will be some combination of taxes, Medicare and Medicaid cuts, SS cuts, caps, and age restrictions.

- Stay tuned
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Re: Coming Generational Storm - Free Book
Old 03-07-2007, 08:00 PM   #23
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Re: Coming Generational Storm - Free Book

I remember hearing from one member of the recent President-appointed SS committee that the Social Security problem can be totally solved by simply starting to use the CPI as the the inflation index instead of the currently-used wage rate increase.

If it's that simple,why isn't more consideration being give to that?
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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 09:08 AM   #24
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Re: Coming Generational Storm - Free Book

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Originally Posted by gindie
I remember hearing from one member of the recent President-appointed SS committee that the Social Security problem can be totally solved by simply starting to use the CPI as the the inflation index instead of the currently-used wage rate increase.

If it's that simple,why isn't more consideration being give to that?
Gindie:

People have discussed that idea. When you take SS by itself the CPI index could be used to correct the SS imbalance. This approach is attractive in that the pain is spread out over long periods of time. The problem is that SS is supposed to replace some portion of your "wages". So if wages are growing over the years and the SS payment is not (grows only with the CPI) then really what you propose amounts to a cut in SS benefits. If things like housing and medical care are roughly tied to available wages then real pain will be felt over the long term by tieing SS benefits to the CPI.

The bigger issue is that SS, Medicare, and Medicaid are, taken together, unsustainable at their present levels for the retirement of the boomers and for those that follow them. The increased amount of money required is so large that increased taxes alone will not solve the problem. Therefore along with tax increases you can expect cuts in SS, Medicare and Medicaid in the next decade or two. Increased taxes and cuts in entitlements are inevitable.
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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 12:46 PM   #25
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Re: Coming Generational Storm - Free Book

Whatever happens, we will adapt. Man always does. In the future, I see:

Boomers will be forced to work longer. Some will never, ever be able to retire. This will alleviate some of the pressure on the system as their earnings are continued to be taxed. At least in the medium term, I am hoping that this factor will save the bacon of folks like us.

Dormitory style living for seniors who can't afford to live on their own - It worked in college, didn't it?

Limitations on healthcare expenditures - Some outrageous percentage (don't recall exactly how much but maybe as much as 75%) of healthcare costs are spent during the last six months of life. As unpleasant as it is to ponder, I forsee a day when we will make economic decisions not to spend additional $$ on people just because they have reached a certain age.

And of course tax increases and benefit cuts...




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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 12:55 PM   #26
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Re: Coming Generational Storm - Free Book

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Originally Posted by ScaredtoQuit
As unpleasant as it is to ponder, I forsee a day when we will make economic decisions not to spend additional $$ on people just because they have reached a certain age.
I don't think we'd go that far. I don't think the age will be the primary factor; rather it will be the prognosis. If someone is almost certainly terminal the emphasis will shift to pain/suffering control and quality-of-life management for whatever time is left, and away from spending scads of money on six-figure procedures with a 1% chance of success.

If I'm undeniably terminal, all I want is to be kept as comfortable and pain-free as possible. No heroic efforts here; just keep me numb and let me go...
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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 02:19 PM   #27
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Re: Coming Generational Storm - Free Book

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If I'm undeniably terminal, all I want is to be kept as comfortable and pain-free as possible. No heroic efforts here; just keep me numb and let me go...
And if I'm a republican, I'm going stop that because I value life so highly
that I want to see you suffer till the end, spending every dime you have.
Think Terri Schiavo.
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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 02:25 PM   #28
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Re: Coming Generational Storm - Free Book

I must say, this Board has an unexpected lean to the left. Don't all you guys know that once you become rich, you're supposed to join the Republican party


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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 03:07 PM   #29
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Re: Coming Generational Storm - Free Book

Quote:
Originally Posted by ScaredtoQuit
Whatever happens, we will adapt. Man always does. In the future, I see:

Boomers will be forced to work longer.
Oh stop that! I'm a boomer. I'm retired. Now I'm focused on consuming the world's resources so that the next generation can never retire!
Quote:
Dormitory style living for seniors who can't afford to live on their own - It worked in college, didn't it?
Oh puke. It sounds like you're describing being in a nursing home on medicaid today. Bummer.

Quote:
Limitations on healthcare expenditures - Some outrageous percentage (don't recall exactly how much but maybe as much as 75%) of healthcare costs are spent during the last six months of life. As unpleasant as it is to ponder, I forsee a day when we will make economic decisions not to spend additional $$ on people just because they have reached a certain age.
End of life heroics need to stop for people of any age.
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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 03:13 PM   #30
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Re: Coming Generational Storm - Free Book

YouBet, I gather you find my views somewhat disconcerting? I'm not saying that YOU or other people on this Board won't be able to retire. I'm saying that a whole lot of other unprepared folk out there won't be able to retire. Their continuing to work will actually help make our retirements possible.

With respect to my concept of dormitory style living, everyone I mention that to reacts the same way! But isn't it better to be living in a single room than to live on the street??

End of life heroics are no big deal if you are spiritual and/or content with your life. We all have to go one day... that's a fact!





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Re: Coming Generational Storm - Free Book
Old 03-08-2007, 03:58 PM   #31
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Re: Coming Generational Storm - Free Book

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Originally Posted by ScaredtoQuit
Dormitory style living for seniors who can't afford to live on their own - It worked in college, didn't it?
Hey, with Viagra and B12 a trip back to the dorms in the twighlight years sounds downright fun. Lets face it, most of us will eventually be widowed or widowered. Gotta do something for entertainment if you are left behind.
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