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No Social Security for Millionaires!!!
Old 04-01-2008, 09:46 AM   #1
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No Social Security for Millionaires!!!

Whoa!

When enacted in 2012, retirees will be required to prove that their investments, excluding their primary residence, have a total value less that $1 million if they want to receive Social Security payments.
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Old 04-01-2008, 09:48 AM   #2
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4/1...
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Old 04-01-2008, 09:50 AM   #3
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Damn you Trombone Al!!! Now I have to go change my undies. Good one.

PS--I have already passed it along to my gullible family....

PPS--two out of four of them are believing it.
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Old 04-01-2008, 09:55 AM   #4
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You got me on that one, too!! I thought it was real.
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Old 04-01-2008, 10:03 AM   #5
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I can only pray this is a bad April Fools Day Joke!!! Should this POS pass then we will have a 51% minimum slate of newbies in DC.
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Old 04-01-2008, 10:11 AM   #6
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It is, It is. I was going to order up the MacMansion and start spending all the cash I could find. APRIL FOOL 2012 - may be the best give away. Also it is not a news item it is a jpg file.
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Old 04-01-2008, 10:24 AM   #7
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Certainly increased the "pucker factor" this morning (and I snorted my wine through my nose )....

- Good one ; of course I passed it on to my former "co-workers" with the message "keep wor*ing" ...

- Ron
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Old 04-01-2008, 10:25 AM   #8
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Response from 28-year-old family member after being told it was April Fools (I hope ):

so it's a joke? .... totally not farfetched - i don't know of anyone my age who is expecting to get social security. though i would've thought hillary or obama would be in office when they pass this...

Other young family member said to forward it to Hillary. Also said "Well done!" when told it was a joke. So kudos Al for making us smile today.
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Old 04-01-2008, 10:29 AM   #9
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And to think when we all thought being a millionaire was impossible...remember that?
Now my biggest fear is just hanging on to it all...gulp...after my recent "bath" in the stock market....gulp.
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Old 04-01-2008, 10:35 AM   #10
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Certainly increased the "pucker factor" this morning (and I snorted my wine through my nose )....
- Ron
Wine...

Breakfast of champions!
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Old 04-01-2008, 10:40 AM   #11
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It will not surprise me at all if something like this does get passed in the next ten years. Once again, the prudent will pay for the imprudent.
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Old 04-01-2008, 10:56 AM   #12
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Wine...

Breakfast of champions!
What about buddameouk?
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Old 04-01-2008, 11:00 AM   #13
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What about buddameouk?
Uh, oh, a troublemaker...
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Old 04-01-2008, 11:01 AM   #14
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Cute article. Just believable enough to make a good 4/1 prank.

In all seriousness though, I've often wondered what kind of public backlash there would be if the media ever decided to turn their attention to the financial demographics of those on social security. Part of me believes that most of society assumes that everybody collecting Social Security are low-net worth, average folks, and that surely the tax code excludes millionaires from collecting.

Do people assume that millionaires can't receive Social Security? Would there be outrage if they learned that many recipients in fact have net worths in the millions of dollars?
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Old 04-01-2008, 11:07 AM   #15
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Thanks Al , I was cursing at the screen and plotting on how to hide my
assets
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Old 04-01-2008, 12:21 PM   #16
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The real April fools joke is that anyone clicking on the link downloaded a trojan keyylogger program that will snarf up their banking info.
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Old 04-01-2008, 12:26 PM   #17
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This is just too close to reality to be funny, Al.

I predict a means test for Medicare by 2012, if not earlier.
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Old 04-01-2008, 12:44 PM   #18
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I knew it was a prank when I read "The new ruling has gained widespread support from both parties..." My republican friends would never do that.
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Old 04-01-2008, 12:46 PM   #19
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Got me! T-bone, Al. I was going to enquire if that would be pre-or post tax money.
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Old 04-01-2008, 12:46 PM   #20
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This is just too close to reality to be funny, Al.

I predict a means test for Medicare by 2012, if not earlier.
There already is one. All that has to be done to increase the pain is tighten or loosen the constraints. It is income based (AGI).
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