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stinkfist Online
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Post: #11
RE: Social Security News
(07-14-2017 05:13 PM)dfarr Wrote:  I wish I could have my 6.2% to invest in my own. Instead I'm using it to pay for a bunch of moochers.

yes and no....

they're robbing you to pay for ALL subsidies....

and the boomers are simply living too long by design.....,

it's a catch-22.....one is a DA if they haven't figured that out by now.....

it's going to be a miracle if the USD is worth pennies in 30 years.....

I hope I'm wrong....
(This post was last modified: 07-14-2017 05:17 PM by stinkfist.)
07-14-2017 05:16 PM
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LeFlâneur Offline
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Post: #12
RE: Social Security News
My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits.

Promises have been made but funding has not followed. The calculations are still using a ridiculous 7.5% to 8% return, when the risk free return is about 2.5%. And that is on current balances.

I've seen an analysis that the total liabilities for the federal, state and municipal* governments in the US, may be as high as $60 trillion.

(*The municipal government part is due to "promises" of life long medical care, which is usually in the Cadillac plan range. All the municipal/teacher retirement plans I'm aware of are administered by the states.)

There is one word to describe this: unsustainable. Soon we'll likely see the fallout when Illinois defaults. No doubt the public sector unions expect a bail-out.
(This post was last modified: 07-14-2017 05:19 PM by LeFlâneur.)
07-14-2017 05:18 PM
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stinkfist Online
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Post: #13
RE: Social Security News
(07-14-2017 05:18 PM)LeFlâneur Wrote:  My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits.

Promises have been made but funding has not followed. The calculations are still using a ridiculous 7.5% to 8% return, when the risk free return is about 2.5%. And that is on current balances.

I've seen an analysis that the total liabilities for the federal, state and municipal* governments in the US, may be as high as $60 trillion.

(*The municipal government part is due to "promises" of life long medical care, which is usually in the Cadillac plan range. All the municipal/teacher retirement plans I'm aware of are administered by the states.)

There is one word to describe this: unsustainable. Soon we'll likely see the fallout when Illinois defaults. No doubt the public sector unions expect a bail-out.

#keyword

there's no fixing it unless cold hard (hearted) decisions are made in this capitalistic realm so many believe upon.....
07-14-2017 05:25 PM
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LeFlâneur Offline
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Post: #14
RE: Social Security News
(07-14-2017 05:25 PM)stinkfist Wrote:  
(07-14-2017 05:18 PM)LeFlâneur Wrote:  My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits.

Promises have been made but funding has not followed. The calculations are still using a ridiculous 7.5% to 8% return, when the risk free return is about 2.5%. And that is on current balances.

I've seen an analysis that the total liabilities for the federal, state and municipal* governments in the US, may be as high as $60 trillion.

(*The municipal government part is due to "promises" of life long medical care, which is usually in the Cadillac plan range. All the municipal/teacher retirement plans I'm aware of are administered by the states.)

There is one word to describe this: unsustainable. Soon we'll likely see the fallout when Illinois defaults. No doubt the public sector unions expect a bail-out.

#keyword

there's no fixing it unless cold hard (hearted) decisions are made in this capitalistic realm so many believe upon.....

People who need to depend on voters returning them to their positions in Washington and the state capitals, tend not to be capitalist.
07-14-2017 05:27 PM
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stinkfist Online
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Post: #15
RE: Social Security News
(07-14-2017 05:27 PM)LeFlâneur Wrote:  
(07-14-2017 05:25 PM)stinkfist Wrote:  
(07-14-2017 05:18 PM)LeFlâneur Wrote:  My biggest concern, well not for me but for my children and grandchildren, is the unfunded liabilities in the public sector pension plans and retirement benefits.

Promises have been made but funding has not followed. The calculations are still using a ridiculous 7.5% to 8% return, when the risk free return is about 2.5%. And that is on current balances.

I've seen an analysis that the total liabilities for the federal, state and municipal* governments in the US, may be as high as $60 trillion.

(*The municipal government part is due to "promises" of life long medical care, which is usually in the Cadillac plan range. All the municipal/teacher retirement plans I'm aware of are administered by the states.)

There is one word to describe this: unsustainable. Soon we'll likely see the fallout when Illinois defaults. No doubt the public sector unions expect a bail-out.

#keyword

there's no fixing it unless cold hard (hearted) decisions are made in this capitalistic realm so many believe upon.....

People who need to depend on voters returning them to their positions in Washington and the state capitals, tend not to be capitalist.

they always hold all hands with a smile....that's our system today.....that's any system developed to date when POWER as the goal of NARCISSISM....capitalism is a mere misnomer of control.....and it's failing by the month.....tulips on the horizon....once the divide becomes overwhelming, it's game over pal....

ref: egypt

ref: greeks

ref: jewish

ref: brits

ref: today
(This post was last modified: 07-14-2017 05:37 PM by stinkfist.)
07-14-2017 05:33 PM
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Claw Online
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Post: #16
RE: Social Security News
Don't assume you'll keep your 401K.

They will be coming after it.
07-14-2017 05:36 PM
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stinkfist Online
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Post: #17
RE: Social Security News
(07-14-2017 05:36 PM)Claw Wrote:  Don't assume you'll keep your 401K.

They will be coming after it.

I DIDN'T!

trust me on that one.....there's other ways....
(This post was last modified: 07-14-2017 05:38 PM by stinkfist.)
07-14-2017 05:38 PM
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EigenEagle Offline
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Post: #18
RE: Social Security News
One tax I idea I will agree with Democrats on...people should be paying SS on all income. That probably won't fix the problem but it might cushion the crash landing a bit.
07-14-2017 05:50 PM
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Attackcoog Offline
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Post: #19
RE: Social Security News
First---let me just say, Im not "one of those guys", but I do think the answer to all or at least some of the problem is easy. Legalize weed and tax it. All of the revenue goes to the Social Security System. There's basically not a better pain free option out there. I also agree wit paying SS on all income. I'd be with the rate falling to a lower level after the current top out point---but I think SS should be collected on all of the income. Those two changes alone probably put a huge dent in the SS underfunding issue. I'd also be fine with adding a penny to the national gasoline tax.
(This post was last modified: 07-14-2017 06:10 PM by Attackcoog.)
07-14-2017 06:07 PM
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Kaplony Offline
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Post: #20
RE: Social Security News
(07-14-2017 04:40 PM)miko33 Wrote:  Saw this article today. Surprised no one mentioned it... Actually, no I'm not. This was a HORRID system devised by the gov't. It would have been in much better shape if they even would have ran it like a so so pension plan. Unfortunately, they chose to see it as another income stream to spend on other programs.

You guys talking about treason, betrayal and impeachable offenses...yeah - right here.

https://www.forbes.com/sites/baldwin/201...495de35a1f

Quote:The government is out today with its annual update of Social Security’s sick finances:

--The system is $12.5 trillion under water, up from $11.4 trillion a year ago.

--Absent law changes, checks to retirees will have to be chopped 23% beginning in 2035.

--To fix just the retirement pay program, Congress could kick up the payroll tax by 2.8 percentage points. Fixing Medicare’s disastrous finances would be in addition.

Quote:Here’s a list of possible bad outcomes:

--An increase in the normal retirement age (now 67 for those born after 1959).

--An increase in payroll taxes. Not the full 2.8% needed, but a noticeable amount. This will damage job creation.

--Some way of punishing people who work hard and are frugal. Benefits will be cut for people who have other income, such as from private pensions, part-time jobs and IRA money saved up.

People who are in or near retirement will probably be spared the damage. Younger folk are at risk.

If you’re young, you should be saving at least 20% of your pay (including employer contributions). Also, expect to retire at a later age than your parents did.

No surprise really. Eventually all ponzi schemes fall apart
07-14-2017 06:34 PM
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