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Re: Social Security News Today - 06-28-05...................
Old 07-01-2005, 11:14 PM   #21
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Re: Social Security News Today - 06-28-05...................

Waren Buffet on Social Security: (Interviewed by Lou Dobbs)

LD: The budget deficit is 3.6% of our GDP, and the trade deficit almost 6%. Yet the president is talking about Social Security. Does that surprise you?

WB: Well, itís an interesting idea that a deficit of $100 billion a year (in Social Security), something 20 years out, seems to terrify the administration. But the $400-plus billion deficit currently does nothing but draw yawns. I mean the idea that this terrible specter looms over us 20 years out, which is a small fraction of the deficit we run now, seems kind of interesting to me.

LD: Do you have a quick answer for Social Security?

WB: Personally, I would increase the taxable base above the present $90,000. I pay very little in the way of Social Security taxes because I make a lot more than $90,000. And the people in my office pay the full tax. Weíre already edging up the retirement age a bit. And I would means test as well.

LD: Thatís a progressive idea. In other words, the rich would pay more.

WB: Yeah. The rich people are doing so well in this country. I mean, we never had it so good. Itís class warfare. My class is winning, but they shouldnít be. Just take the estate tax. A couple of million people die every year, yet only 40,000 or so estates get taxed. We raise $30 billion from the estate tax. And, you know, I would like to hear the Congressmen say where they are going to get the $30 billion from if they donít get it from the estate tax. Itís nice to say, ďWipe out this tax,Ē but weíre running a huge deficit, so where does the $30 billion come from?

The rest is at
http://www.investorplace.com/free/ldml29.htm?ak=5MY107

Ha
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 05:54 AM   #22
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Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by Michael
I wouldn't be surprised if private sector employees rebelled when asked to bail out the many insolvent state and local government pension plans, after government workers lobbied against private sector bail outs.* Unless they become a bit more sympathetic to private sector employess before then.
People won't rebel. People today are mostly sheep (or lemmings).
It's a brave new world we live in.

JG
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 04:51 PM   #23
 
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Re: Social Security News Today - 06-28-05...................

Quote:
WB: Well, itís an interesting idea that a deficit of $100 billion a year (in Social Security), something 20 years out, seems to terrify the administration. But the $400-plus billion deficit currently does nothing but draw yawns. I mean the idea that this terrible specter looms over us 20 years out, which is a small fraction of the deficit we run now, seems kind of interesting to me.

LD: Do you have a quick answer for Social Security?

WB: Personally, I would increase the taxable base above the present $90,000. I pay very little in the way of Social Security taxes because I make a lot more than $90,000. And the people in my office pay the full tax. Weíre already edging up the retirement age a bit. And I would means test as well.

LD: Thatís a progressive idea. In other words, the rich would pay more.

WB: Yeah. The rich people are doing so well in this country. I mean, we never had it so good. Itís class warfare. My class is winning, but they shouldnít be.
Mikey,

Great Post! - Warren gets it! - It's funny how so few others seem to!

In case anybody was ever confused why Bush Jr. took on the Social Security Issue - Let me clarify it. - It was all about ideology and never about 'saving it' - Bush wanted to dismantle a 'new deal' legacy for his own legacy. This is why private accounts were so important to him, even though they made the Social Security 'problem' worse.
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 04:59 PM   #24
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Re: Social Security News Today - 06-28-05...................

CT,
Our money should be protected and not put into a General Fund.
If the Government kept away from our money we wouldn't have to raise payments above 90K.
We'd all get what we had coming.
Also the alternative minium tax ceiling should be raised.* We are getting ripped off* from a law that was inacted in 1969.*
Everyone who gets elected in the country says that they are not going to raise our taxes or maybe even lower them.*
Well I've never paid so much taxes in my life.
Regards,
JOE
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 05:14 PM   #25
 
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Re: Social Security News Today - 06-28-05...................

Joe,

Yeah, Our money should be put in a 'LockBox' as Gore suggested.

However, when the Government is currently running $400 Billion dollar deficeits, there are even bigger fish to fry as Warren Buffet eluded to.

These kind of deficeits are gonna make our money worthless, even if it is in a lockbox.
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 06:36 PM   #26
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Re: Social Security News Today - 06-28-05...................

Hey Michael: Interesting Rant And you think that teachers, police, fire department live high off the hog? and make you work harder and they lobbied againt the private sector employees, HUH?

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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 06:56 PM   #27
 
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Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by maddythebeagle
Hey Michael: Interesting Rant* And you think that teachers, police, fire department live high off the hog? and make you work harder and they lobbied againt the private sector employees, HUH?
Yeah I think ol Michael may spend a bit too much time listening to right wing radio.

We seem to have no problem paying for the education of workers for private corporations, while the CEO's have escalated their pay from a 50 to 1 ratio in the 1960's to over 500 to 1 today.

These public services are not free and it's about time that we started collecting from the biggest users of them!
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 07:24 PM   #28
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Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by Cut-Throat
Mikey,

Great Post! - Warren gets it! - It's funny how so few others seem to!

In case anybody was ever confused why Bush Jr. took on the Social Security Issue - Let me clarify it. - It was all about ideology and never about 'saving it' - Bush wanted to dismantle a 'new deal' legacy for his own legacy. This is why private accounts were so important to him, even though they made the Social Security 'problem' worse.
Hey C-T, do you see a conspiracy everywhere (concealed motives?).
It could just be stupidity? Anyway, I do agree that Warren B. is a sharp
guy. Re. Bush, I think he really believes in most of his stuff. Even when
I think he is wacko, I can't escape the feeling that he has the courage of his
convictions. He just doesn't seem devious to me.

JG
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 07:29 PM   #29
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Re: Social Security News Today - 06-28-05...................

Yep...if something looks like it could either be brilliant conspiracy or complete idiocy, suspect the latter...
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 07:32 PM   #30
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Re: Social Security News Today - 06-28-05...................

Quote:
...police, fire department...
Actually I think the police and firemen are great. They protect us, and should get their full pension. I do think that some (not all) government employees are not being politically savvy when they lobby against private pensions being made whole. They will be asking those same private employees for help with their own pensions.
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 07:40 PM   #31
 
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Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by Notth
Yep...if something looks like it could either be brilliant conspiracy or complete idiocy, suspect the latter...
Yup, You're right TH, I was probably giving him way too much credit.
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 07:53 PM   #32
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Re: Social Security News Today - 06-28-05...................

Well, in other news to brighten your day, looks like your pal Kaptain Karl may be implicated as the source for Matt Cooper on the CIA operative. Right now he's listed as "one of..." the sources, so maybe he'll slip the noose again...
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 09:26 PM   #33
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Re: Social Security News Today - 06-28-05...................

Michael,
I had a Detective in my office the other day who filled out a credit app. and put a salary of 240K on his app.
I got to talking to him and he said that he was going to ER at the end of the year after 22 years.
His pension will be 170K a year cola adjusted and full medical and dental.
I got to thinking that he is a public servant but I'm serving him.
He's 43 years old and the public has to support this guy for the rest of his life with this type of pension.
Do you really think that this is fair
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 10:31 PM   #34
 
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Re: Social Security News Today - 06-28-05...................

And you believe this?

Quote:
Originally Posted by 73ss454
His pension will be 170K a year cola adjusted and full medical and dental.
I got to thinking that he is a public servant but I'm serving him.
He's 43 years old
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 10:36 PM   #35
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Re: Social Security News Today - 06-28-05...................

Tozz,
Yea it's for real, he's not the first one to come to my office for a loan.
He had to give me pay stubs.
Not sure* what his pension will be but the pay stubs showed an average of 20K a month for his current salary.
Crazy but it's for real!
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Re: Social Security News Today - 06-28-05...................
Old 07-02-2005, 10:48 PM   #36
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Re: Social Security News Today - 06-28-05...................

Quote:
Originally Posted by MRGALT2U
Hey C-T, do you see a conspiracy everywhere (concealed motives?).
It could just be stupidity?* Anyway, I do agree that Warren B. is a sharp
guy.* Re. Bush, I think he really believes in most of his stuff.* Even when
I think he is wacko, I can't escape the feeling that he has the courage of his
convictions.* He just doesn't seem devious to me.

JG
While I could be convinced that Bush is simply a moron and actually believes the nonsense he spouts, I don't see Cheny and Rove in the same way. I definately see them as elitists who believe the world would be a better place if the ultra-wealthy were made the ruling class and the rest of us put in our place.
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Re: Social Security News Today - 06-28-05...................
Old 07-03-2005, 01:00 AM   #37
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Re: Social Security News Today - 06-28-05...................

Quote:
Do you really think that this is fair
I will not comment on a particular individual without hearing his side of the story.
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Re: Social Security News Today - 06-28-05...................
Old 07-03-2005, 08:55 AM   #38
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Re: Social Security News Today - 06-28-05...................

I always find it funny that so many private sector folks rag on civil service. I think people forget how much "corporate welfare" is out there that results in more taxes. I am not saying that I am againt all of this because I am not sure if it creates jobs or not (probably helps but I suspect it just makes people at the top richer) If you dont want any services, then you should elect folks that run under that platform. I think it is probably more a case (as most politics). That you want stuff but you want the "rich" to pay for it. The rich have the money to avoid the taxes, which means it mostly falls on the middle class so we are screwing ourselves ).

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Re: Social Security News Today - 06-28-05...................
Old 07-03-2005, 05:41 PM   #39
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Re: Social Security News Today - 06-28-05...................

You're right, and the monopolies that the politicians grant certain groups drive up costs even more.* Most Americans seem to have no idea how much extra work they do because of this fantastic system.

Then again, most Americans seem to believe in living above their means, and probably see nothing wrong with this system. Living below your means people are the only ones who would think that some of the things politicians force us to spend our money on are a tremendous waste. We are outnumbered, and thus outvoted.
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Re: Social Security News Today - 06-28-05...................
Old 07-03-2005, 08:24 PM   #40
 
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Re: Social Security News Today - 06-28-05...................

Am I understanding correctly that a detective in the police force can make $240,000 per year? What city is that?
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