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Old 05-18-2010, 09:50 PM   #41
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It's painful to give him credit, but after scanning the report with its dozens of options for cutting 5%, 10%, 25%, 50% (or more) of the shortfall, I think Mr. Greenspan may be right.
Dear Congress:

Please pick 10 changes from the list that will have the effect of spreading the following actions across the widest possible spectrum of the population:
  • Pay a bit more now
  • Get a bit less later
  • Wait a little longer to get it
Move it along without delay, please, so you can move on to more challenging fiscal issues. Feel free to skip the hysterical speeches and politicking - I value solvency and stability in the system many times more than whether my payments or benefits might change a few percentage points.

Harry
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Old 05-19-2010, 07:59 AM   #42
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Quote:
Originally Posted by Htown Harry View Post

Dear Congress:
Please pick 10 changes from the list that will have the effect of spreading the following actions across the widest possible spectrum of the population:
  • Pay a bit more now
  • Get a bit less later
  • Wait a little longer to get it
Move it along without delay, please, so you can move on to more challenging fiscal issues. Feel free to skip the hysterical speeches and politicking - I value solvency and stability in the system many times more than whether my payments or benefits might change a few percentage points.

Harry

Your letter to Congress is great Harry! Unfortunately, I don't think we'll be spared the hysterical speeches and politicking.
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Old 05-19-2010, 11:06 AM   #43
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I've been working for 5 years, 3 of which I have generously made the max SS contributions. I would sign on the dotted line today never to receive any SS benefits if I never again have to pay into it (and I'd even be generous enough to finish out this year as well). Sigh...as LARS points out, that will never happen, as I have to continue to feed money into this sham for those drawing benefits.
5 whole years. Keep at it. I hope you make so much that the few thousand a year for SS gets lost in the wash. I've done 37, about 27 at the Max. DW about the same . Without SS just assume you will never get disabled, never die leaving minor children, will be a great and successful investor, and somebody else will pay for the elderly poor. Social security is part of the "glue" that keeps our society together. No its not a great deal for the well off, and it's positively depressing for the "I've got mine f*ck you and yours" crowd, but the alternatives are really awful.
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Old 05-19-2010, 12:40 PM   #44
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5 whole years. Keep at it. I hope you make so much that the few thousand a year for SS gets lost in the wash. I've done 37, about 27 at the Max. DW about the same . Without SS just assume you will never get disabled, never die leaving minor children, will be a great and successful investor, and somebody else will pay for the elderly poor. Social security is part of the "glue" that keeps our society together. No its not a great deal for the well off, and it's positively depressing for the "I've got mine f*ck you and yours" crowd, but the alternatives are really awful.
.
I actually think assuming the above will happen and planning for them without SS is a much better approach than not planning for them and relying on SS (which is what most Americans do).
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Old 05-19-2010, 12:40 PM   #45
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5 whole years. Keep at it. I hope you make so much that the few thousand a year for SS gets lost in the wash. I've done 37, about 27 at the Max. DW about the same . Without SS just assume you will never get disabled, never die leaving minor children, will be a great and successful investor, and somebody else will pay for the elderly poor. Social security is part of the "glue" that keeps our society together. No its not a great deal for the well off, and it's positively depressing for the "I've got mine f*ck you and yours" crowd, but the alternatives are really awful.
.
I do not want to see the system go away
but I would like it diminished considerably

since the day it was formed, SS has take in more than it paid out. Yet the politicians raised the tax rates to absurb levels (1% initially to 12.4% now). There is no good justification for that IMO and the tax rate itself needs to be decreased.
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Old 05-19-2010, 04:19 PM   #46
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I do not want to see the system go away
but I would like it diminished considerably

since the day it was formed, SS has take in more than it paid out. Yet the politicians raised the tax rates to absurb levels (1% initially to 12.4% now). There is no good justification for that IMO and the tax rate itself needs to be decreased.
fine, just raise the income tax by about 12% and it's done. The social security "surplus" is used to fund the DOD, pay the national debt etc. Those expenses are not going away.
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Old 05-19-2010, 09:53 PM   #47
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fine, just raise the income tax by about 12% and it's done. The social security "surplus" is used to fund the DOD, pay the national debt etc. Those expenses are not going away.


or cut spending by about 25-50% in most other places
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