Puterbac News Network and Political Discussion Thread

[AugustWest]

yep, if walmart started putting panels on their stores the price would come down pretty fast.

[sardis]

Yeah, like I'm going to trust these guys...

http://finance.yahoo.com/news/Goldmans- ... et=&ccode=

[bluetick]

When the door opens, do we really want to see our children.. presenting us with that check?

The children that we centered our whole lives around and who we gave the very best of everthing we could give to? And who stand to make out like bandits when we kick? Those children? Goodness no..

I've already made peace with the fact that my generation is going to get screwed SS-wise, and am planning accordingly.

[Toemeesleather]

Caution:!!! Intelligent negro, elected to congress by racist teabaggers.....Warning!

[youtube]qYbaln3Uqfc[/youtube]

[Owlman]

Tea party godfather Ron Paul running for president
/b]

http://www.chron.com/disp/story.mpl/ap/ ... 63345.html

[innocentbystander]

When the door opens, do we really want to see our children.. presenting us with that check?

The children that we centered our whole lives around and who we gave the very best of everthing we could give to? And who stand to make out like bandits when we kick? Those children? Goodness no..

I've already made peace with the fact that my generation is going to get screwed SS-wise, and am planning accordingly.

Stop re-framing the question with rhetoric.

Do you want your kids to work for 30 or 40 years just paying taxes to cover the interest payments on all the government bond debt in the SSI fund, just so you can sit back, and collect that $1800 check each month until you are dead? You think your kids wouldn't resent you for being part of this infernal, liberal-Democrat, Ponzi-Scheme?

[bluetick]

You conveniently ignored my last line - about how my generation is going to get screwed out of our promised full benefits, and I'm planning for that sad fact (and assume others are as well). Because there'll no doubt be "adjustments" made to the program similar to what you wish for.

The worst part of that whole retirement "scheme" is the part that allowed politicians to spend the reserves on other matters that had nothing to do with retiree benefits.

[bluetick]

just so you can sit back, and collect that $1800 check each month until you are dead

21k a year...pfft. You probably made that much last week.

But yeah - your parents don't deserve those pennies from socialist heaven, do they? Have you explained it to them yet? heh

[innocentbystander]

You conveniently ignored my last line - about how my generation is going to get screwed out of our promised full benefits, and I'm planning for that sad fact (and assume others are as well). Because there'll no doubt be "adjustments" made to the program similar to what you wish for.

The worst part of that whole retirement "scheme" is the part that allowed politicians to spend the reserves on other matters that had nothing to do with retiree benefits.

I want them to raise the minimum retirement age for people who are (as of right now) under 50 from 62 to 68. I want them to raise the minimum retirement age for people who are (as of right now) under 40 from 62 to 72. That would fix some of it.

[innocentbystander]

just so you can sit back, and collect that $1800 check each month until you are dead

21k a year...pfft. You probably made that much last week.

I wish.

But yeah - your parents don't deserve those pennies from socialist heaven, do they? Have you explained it to them yet? heh

We've talked.

[GBJs]

The worst part of that whole retirement "scheme" is the part that allowed politicians to spend the reserves on other matters that had nothing to do with retiree benefits.

But yeah - your parents don't deserve those pennies from socialist heaven, do they? Have you explained it to them yet? heh

Kerrekt to the first sentence. If your going to extort money via taxes for a retirement "benefit" then it's for retirement.

The second sentence is absolutely kerrekt and bulkshit at the same time. It's kerrekt because they shouldn't be commin' from the gubmint. It's bulkshit because they should be getting more. Why aren't they? Because every ass hat whose been president since the socialist program began, has used it for something other than the intended purpose.

[bluetick]

I want them to raise the minimum retirement age for people who are (as of right now) under 50 from 62 to 68. I want them to raise the minimum retirement age for people who are under 40 from 62 to 72. That would fix some of it.

Life expectancies being what they are now, raising the MRA makes sense. If that's the only "fix" then I could live with it.

If your going to extort money via taxes

Heh - that's redundant isn't it, gbj?

[innocentbystander]

You conveniently ignored my last line - about how my generation is going to get screwed out of our promised full benefits, and I'm planning for that sad fact (and assume others are as well).

I hope your planning does not include a Roth.

http://www.theatlantic.com/business/arc ... rs/238839/

http://www.theatlantic.com/business/arc ... ra/237081/

I'm less excited about Roth IRAs than most people who write about personal finance, and that's because over the years, I expect we're going to see a lot more op-eds like Scorse's. When I look at the budget problems we face, I'm skeptical that Congress is going to live up to its promise to keep its hands off that money. At the very least, I'd bet that high earners are going to see some sort of surtax on their Roth withdrawals.

I'm not as excited about Roth IRAs as many people who write about consumer finance: I don't believe that the government is ultimately going to be able to keep it's hands off a pretty big pot of money. Getting a tax break now in your 401(k) or traditional IRA is guaranteed; getting a tax break in the future is not.

I'm with Megan, but I'll take it a step further.

I'm of the opinion, that the Social Security Insurance "entitlement for all" will turn into "elderly welfare only for some" by the time I could ever see a dime. I think Congress will pass legislation punishing the must responsible.

[puterbac]

Life expectancies being what they are now, raising the MRA makes sense. If that's the only "fix" then I could live with it.

So are construction workers gonna be able to work 10 years longer in a physically demanding profession?

I want them to raise the minimum retirement age for people who are (as of right now) under 50 from 62 to 68. I want them to raise the minimum retirement age for people who are (as of right now) under 40 from 62 to 72. That would fix some of it.

So the cure is to hope people die before they can collect on benefits they they paid in?

The problem is this only addresses symptoms and not the structural problems with SS. How would you like it if Fidelity told you that half the money in your 401k was now forfeit? Wouldn't be to pleased I imagine and of course they would face massive lawsuits.

SS is a pyramid scheme. Everyone knows it, but nobody will address it. In its current state it is NOT a welfare program as all who pay in are eligible for benefits. If you means test and tell those that paid in, but who have money that they can't collect benifits then it becomes a welfare program. If it truly should become a welfare program, fine. But the taxes should also drop dramatically as well.

It needs to be privatized and regulated. Get the money out of the govt hands and then each person OWNS their account and when they die what's in their account goes to their family. Black folk should be irate at the program. Black males pay in all their life and die before anyone and no money goes to their family. How many families would be better off and helped when someone dies young and they actually get to KEEP the money they paid in?

[innocentbystander]

SS is a pyramid scheme. Everyone knows it, but nobody will address it. In its current state it is NOT a welfare program as all who pay in are eligible for benefits. If you means test and tell those that paid in, but who have money that they can't collect benifits then it becomes a welfare program. If it truly should become a welfare program, fine. But the taxes should also drop dramatically as well.

Jinx.

See my last post.

[puterbac]

Unbelievable...

Court: No right to resist illegal cop entry into home

http://www.nwitimes.com/news/local/govt ... 29697.html

[Professor Tiger]

Raising the MRA would be consistent with the origins of SS. When it started, the MRA was 65 because people only typically lived to 68 or so. Now that people are living into their 80's, the program has morphed into a source of income to last for 20+ years. Given the Baby Boomer demographics at work right now, that has become impossible.

[Professor Tiger]

Do you want your kids to work for 30 or 40 years just paying taxes to cover the interest payments on all the government bond debt in the SSI fund, just so you can sit back, and collect that $1800 check each month until you are dead? You think your kids wouldn't resent you for being part of this infernal, liberal-Democrat, Ponzi-Scheme?

The young people aren't going to pay 90% tax rates their whole lives just to make boomers comfy. Instead, they're going to wait until their generation has taken over the government and cancel Social Security altogether. No SS taxes, no SS payments. Millions of baby boomers will be kicked out of their swanky retirement villages. If your kid likes you, he'll let you live in his basement as long as you don't get in the way. But if he remembers how you made him pay all his own college bills while you drove a Caddie, or you left his mom for your secretary, you're hosed. You'll be living under a bridge with other selfish prick boomers.

[innocentbystander]

Do you want your kids to work for 30 or 40 years just paying taxes to cover the interest payments on all the government bond debt in the SSI fund, just so you can sit back, and collect that $1800 check each month until you are dead? You think your kids wouldn't resent you for being part of this infernal, liberal-Democrat, Ponzi-Scheme?

The young people aren't going to pay 90% tax rates their whole lives just to make boomers comfy. Instead, they're going to wait until their generation has taken over the government and cancel Social Security altogether. No SS taxes, no SS payments. Millions of baby boomers will be kicked out of their swanky retirement villages. If your kid likes you, he'll let you live in his basement as long as you don't get in the way.

Before SSI (before 1935) if you should be so lucky to have such a long life, this is the way it used to be. As an older person you moved in to one "room" of your oldest child's place (be it the apartment or farmhouse, since there were no "suburbs" in the 1920s.) Older people didn't need those checks when their living expenses were paid for by their adult children.

[Professor Tiger]

That worked for previous generations, but we'll see if it works for the next. After SS dies, who will elders move in with? The second child of their third ex-spouse? The adopted same sex couple of their preferred sperm donor?