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Old 04-24-2012, 01:35 PM   #21
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I've witnessed the process to get SSI Disability first hand. My brother had terminal cancer, was undergoing chemo, could not work, so was on cobra - which my sister and I paid because he had no income. He applied for SSID, and they "fast tracked" it because he was terminal. He applied in Sept 07. He got the letter approving in in early Dec 07. It was set to start in March 08. He died in late Dec. 07. His case was extremely clear cut. He had an aggressive, inoperable, terminal cancer. No grey area. It still was more than 6 months (fast tracked) till it would kick in, from the application date.

As far as them reducing the SS payroll tax - I think it's stupid. And I'm still working/paying. I immediately jumped up my other savings by the same amount so I would be partially covered. I wish more people had.

I also wish they'd raise the wage cap that SS payroll tax hits. Currently you only pay on the first $110k. Raise that to $150k, or remove the cap (like medicare tax) and you'd have a solvent/funded system. And yes - again, this could affect me. It's the easiest fix... but it will never happen.
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Old 04-24-2012, 01:42 PM   #22
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73, your neighbor is a lightweight at this money making plan compared to my maternal grandfather. When he turned 65 he had eight children under age 18. He had a total of 12 kids before the oldest turned 18 - grandpa was 72 when his youngest was born.

Only one small problem - SS wasn't enacted until three years after his death in 1932. Timing is everything...
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Old 04-24-2012, 01:50 PM   #23
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How wonderful for you. You must be very proud.

Sorry if i have offended you in some way. Just a friendly discussion, at least i thought so

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Old 04-24-2012, 01:57 PM   #24
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Sorry if i have offended you in some way. Just a friendly discussion, at least i thought so

Steel
Friendly discussions about financial matters are always friendlier when they are helped along with data and sources vs. a gut feeling or anecdotes.
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Old 04-24-2012, 01:59 PM   #25
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I know this is anecdotal but before we were married DW and I would attend her annual family reunion in another state (that will remain nameless). I was always amazed at how many of her relatives were on disability. I would guess 30% or so, but I could name several off the top. Not sure of the reasons as it was not obvious to the casual observer.

This was in sharp contrast to the community I grew up in for some reason
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Old 04-24-2012, 02:00 PM   #26
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Friendly discussions about financial matters are always friendlier when they are helped along with data and sources vs. a gut feeling or anecdotes.

Hehe, fair enough, i guess i will lurke more, I have to do the data thing at work, its overrated

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Old 04-24-2012, 02:25 PM   #27
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73, your neighbor is a lightweight at this money making plan compared to my maternal grandfather. When he turned 65 he had eight children under age 18. He had a total of 12 kids before the oldest turned 18 - grandpa was 72 when his youngest was born.

Only one small problem - SS wasn't enacted until three years after his death in 1932. Timing is everything...
No, my neighbor told me there is a max amount you can get and he cut the new wife off at that point. This guy knows how to milk the system. I think your maternal grandfather was in it for other reasons.
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Old 04-24-2012, 02:25 PM   #28
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Interestingly, there was an article in the WSJ, last week I think about this very topic. Apparently, the growth in the SSI disability program is vastly larger than the population as a whole. Dont remember the exact statistics but it does not surprise me in the least. I know serveral unempoyed folks who are turning down jobs to run the 99 weels dry. So, not surprising in the least.

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Steel,

I think you are confusing SSDI and unemployment insurance (which is what lasts 99 weeks). Totally different and separate programs.
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Old 04-24-2012, 02:28 PM   #29
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Steel,

I think you are confusing SSDI and unemployment insurance (which is what lasts 99 weeks). Totally different and separate programs.
Nah, just making a comment on what i consider to be similar situation where folks take advantage. I dont know anyone on SSDI.

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Old 04-24-2012, 02:29 PM   #30
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How wonderful for you. You must be very proud.
Just for giggles, I went ahead and looked at the firm i saw advertising;

Social Security Disability Nationwide Advocates | New York Disability SSD | National SSD Benefits

Its contingency, as I thought.

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Old 04-24-2012, 02:31 PM   #31
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Attorney SSDI ads became far more common when the law was changed about 10 years ago so as to remove the ($4000?) cap on what an attorney could charge the client.
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Old 04-24-2012, 02:45 PM   #32
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Scams like this should also push insolvency along.

My neighbor was an airline pilot and left his wife for a very young stewardess. They made some babies and then he retired. So now we pay him, his kids and don't forget the young wife SS bennies. This makes sense, no?
Unfortunately, I don't know a whole lot about SS. Does this mean that if you are retired and on SS, if you have minor children they get some sort of a supplement too?? Is this why young women go for geezers??
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Old 04-24-2012, 02:47 PM   #33
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Unfortunately, I don't know a whole lot about SS. Does this mean that if you are retired and on SS, if you have minor children they get some sort of a supplement too?? Is this why young women go for geezers??
Don't forget the young wife, she gets paid also.
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Old 04-24-2012, 02:54 PM   #34
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Just for giggles, I went ahead and looked at the firm i saw advertising;

Social Security Disability Nationwide Advocates | New York Disability SSD | National SSD Benefits

Its contingency, as I thought.

Steel
Was that so hard? Still does not tell us if it is just this firm doing so, but its nice to have an example.
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Old 04-24-2012, 02:58 PM   #35
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Is this why young women go for geezers??
This is nothing new:

Gertrude Janeway - Wikipedia, the free encyclopedia

Quote:
Gertrude Grubb was born in Blaine, Tennessee, and was courted by John Janeway beginning when she was only 16. Her parents would not allow her to marry until she was 18. She married John Janeway, an officer in the 14th Illinois cavalry, in 1927 when she was 18 and he 81.

...

Gertrude continued to live in the cabin for nearly 70 years after her husband's death. She received a $70 pension check for veterans' benefits from the government every two months until her death in 2003.
The practice of very old Civil War veterans marrying very young women in the early 20th century was not all that rare.

And obviously, that pension had no COLA...
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Old 04-24-2012, 03:02 PM   #36
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Was that so hard? Still does not tell us if it is just this firm doing so, but its nice to have an example.
Not hard, but in general I need to restrict my comments where i dont have to provide research. I dont want to do a disertation, just talk with folks. I get your point, but im not sure you get mine. Its ok, im new here, I will adopt the standards of community and we can call it good. There was one benefit to sitting in this airport all day

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Old 04-24-2012, 03:13 PM   #37
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In theory the reduced FICA amount was made up by the general fund. That should have no direct effect on SS solvency.

The accelerated solvency problems are driven by out-of-work people retiring to SS earlier than usual and more people out of work not contributing payroll taxes.

Another, under the radar cause is people out of work getting themselves declared "disabled" and going on permanent SS disability. This is the fastest growing part of the SS budget.
Yes, you are correct. See here for a summary of the 2012 Trustees reports on Social Security and Medicare:

Trustees Report Summary

"The legislation establishing the payroll tax reduction also provided for transfers of revenues from the general fund to the trust funds in order to "replicate to the extent possible" payments that would have occurred if the payroll tax reduction had not been enacted. Those general fund reimbursements comprise about 15 percent of the program's non-interest income in 2011 and 2012."
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Old 04-24-2012, 03:16 PM   #38
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"The legislation establishing the payroll tax reduction also provided for transfers of revenues from the general fund to the trust funds in order to "replicate to the extent possible" payments that would have occurred if the payroll tax reduction had not been enacted. Those general fund reimbursements comprise about 15 percent of the program's non-interest income in 2011 and 2012."
Yeah, but this still has the impact of increasing our debt load which isn't healthy for any of these programs. It would be like me taking out a loan to fund my IRA. Technically through accounting sleight of hand, it isn't depleting the pile of assets designated to SS but it still adds to our liabilities.
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Old 04-24-2012, 06:00 PM   #39
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The lawyers don't need to be successful for their clients in order to be raking it in.
beware CHP (Cocktail Hour Post)... If we could execute 1000 lawyers a day, its unlikely we'd the benefit until the end of the decade.
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Old 04-24-2012, 07:14 PM   #40
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This thread prompted me to go research social security trust funds. I was surprised to learn there has always been a trust fund since 1937. It has always been used to buy special treasury instruments. There has been annual projections of benefits, taxes on wages, trust fund level and actuarial statistics. There have been a few instances of Congress holding the FICA tax rate lower than previously projected.

I did not find anything that points to the present day situation of a projected depletion of the trust fund to be unique. There have been many things done in the past to restore long term actuarial balance, some of which are very clever. This research of mine was review of some but not all of the Trustees Reports available on the SS website. Don't worry, be happy.
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