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Post by cadman on May 9, 2024 6:59:45 GMT -5
LOL! I've got a lil ways to go but dad is on medi with the aarp united health supplemental. Ol man is healthy but mom wasn't int he best of shape and she did a couple stints in hospital/rehab stuff and they never had any bills. Def recommended. I'm still paying on my future SS and medicare programs.Actually, you are paying for my SS and medicare benefits, thank you. There may not be anything there for you if Congress doesn't fix the program soon. |
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Post by richm on May 9, 2024 9:07:38 GMT -5
LOL! I've got a lil ways to go but dad is on medi with the aarp united health supplemental. Ol man is healthy but mom wasn't int he best of shape and she did a couple stints in hospital/rehab stuff and they never had any bills. Def recommended. I'm still paying on my future SS and medicare programs.Actually, you are paying for my SS and medicare benefits, thank you. There may not be anything there for you if Congress doesn't fix the program soon. That's part of the problem - and why I'm trying to get my retirement stuff figured out. In my mind, I'm putting in $x$ into the system and the system will owe me when it is my turn. That is how a lot of the larger companies used to handle retirement stuff and why so many folks got stuffed. Instead of investing the $ they used current employees to pay the benefits of previous employees and the rest is history. The model doesn't work. The 401k model sucks too. If folks had to bank 7.5% like we do SS & medicare, and got the company match, it would be 15% per paycheck. Do that for 30-40 years and then see where you are at. Most folks would have millions. But that doesn't allow congress to line their pockets and spend money. |
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Post by OhMy on May 9, 2024 9:14:43 GMT -5
Actually, you are paying for my SS and medicare benefits, thank you. There may not be anything there for you if Congress doesn't fix the program soon. That's part of the problem - and why I'm trying to get my retirement stuff figured out. In my mind, I'm putting in $x$ into the system and the system will owe me when it is my turn. That is how a lot of the larger companies used to handle retirement stuff and why so many folks got stuffed. Instead of investing the $ they used current employees to pay the benefits of previous employees and the rest is history. The model doesn't work. The 401k model sucks too. If folks had to bank 7.5% like we do SS & medicare, and got the company match, it would be 15% per paycheck. Do that for 30-40 years and then see where you are at. Most folks would have millions. But that doesn't allow congress to line their pockets and spend money. Perfectly stated. Social security is a tax more than a benefit. The government thinks they can spend our money better than we can... |
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Post by cadman on May 9, 2024 10:48:49 GMT -5
That's part of the problem - and why I'm trying to get my retirement stuff figured out. In my mind, I'm putting in $x$ into the system and the system will owe me when it is my turn. That is how a lot of the larger companies used to handle retirement stuff and why so many folks got stuffed. Instead of investing the $ they used current employees to pay the benefits of previous employees and the rest is history. The model doesn't work. The 401k model sucks too. If folks had to bank 7.5% like we do SS & medicare, and got the company match, it would be 15% per paycheck. Do that for 30-40 years and then see where you are at. Most folks would have millions. But that doesn't allow congress to line their pockets and spend money. Perfectly stated. Social security is a tax more than a benefit. The government thinks they can spend our money better than we can... That is why I do not like liberals in office, they want bigger government and more money. I want less government which in turn requires less of our money. SS is a special purpose tax with the revenue going into a trust fund. Most people misunderstand what it is . It is a social welfare program for older Americans. |
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Post by gogittum on May 9, 2024 11:46:27 GMT -5
Perfectly stated. Social security is a tax more than a benefit. The government thinks they can spend our money better than we can... That is why I do not like liberals in office, they want bigger government and more money. I want less government which in turn requires less of our money. SS is a special purpose tax with the revenue going into a trust fund. Most people misunderstand what it is . It is a social welfare program for older Americans. It's always been my understanding that that special "trust fund" has been repeatedly looted over the years with nothing left in it. |
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Post by cadman on May 9, 2024 12:16:43 GMT -5
SS is a special purpose tax with the revenue going into a trust fund. Most people misunderstand what it is . It is a social welfare program for older Americans. It's always been my understanding that that special "trust fund" has been repeatedly looted over the years with nothing left in it. That is a myth and not true. It started with how they accounted for it in government reporting. The revenue is invested in Treasury notes. Basically it bought government debt. But it earned interest and every penny was accounted for and used for Social Security programs. No money in the trust fund was spent for other purposes. The issue is baby boomers are a large population block and they are all retiring. Used to be 4 workers per retiree and now it is only two. Plus those retirees are living longer. |
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Post by johngalt on May 9, 2024 21:32:19 GMT -5
Perfectly stated. Social security is a tax more than a benefit. The government thinks they can spend our money better than we can... That is why I do not like liberals in office, they want bigger government and more money. I want less government which in turn requires less of our money. SS is a special purpose tax with the revenue going into a trust fund. Most people misunderstand what it is . It is a social welfare program for older Americans. In other words, a Ponzi scheme. |
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Post by cadman on May 10, 2024 4:27:34 GMT -5
I removed the political crap about one side or the other, please keep politics out of this as much as possible. I'd hate to move this to the dark side.
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