Canuck57 wrote:
"Calif Bill" wrote in message
m...
"Vic Smith" wrote in message
...
On Tue, 16 Dec 2008 17:17:12 -0800, "Calif Bill"
wrote:

You expect people to not riot if they have contributed a
couple hundred thousand dollars over their working career for no return?
That's exactly why SS won't die.
Even the ones who only contributed 10 grand in their lifetime will
join in on the
"The 50 Great Million Geezer March on Washington."

Especially if they also saved and lived within their means. Not buying 2
luxury cars and going on big time vacations when their income supports 2
Kia's and a trip to the national park campground.
That's what I meant about "personal accounts" bringing a dose of
reality. Might get people to start saving more for their retirement.
Then beyond all the politically-sensitive/rich-poor/class warfare,
accounting, etc, etc issues, there's plain old fraud.
What I never get is how the gov fails to hire an adequate number of
investigators to nip disability and medicare fraud.
I bet that's a huge chunk of money, and the investigators would be
profit centers, not overhead.
Works for insurance companies.

--Vic
There are not going to be enough workers to pay for SS. So those 50
million geezers are goign to be out of luck and money. France is trying
to address this now. One of the major reasons for public service union
strikes. They want the 90% pay at 30 years. Unfortunately in about 12
years, there will be only 2 workers for every retiree. We have about 25
years if I remember the numbers correctly.

And they will be angry when they don't get paid. Many a retired and soon to
retire have never saved for it depending very much on this.

I hope they like eating rice and beans for three meals a day and living
in a trailer in some dumpy trailer park in Florida. Some of these people
are not going to be getting more than a $1000 a month from SS for two
people to live on. Try going from $40K or $50K a year down to $12K
without any other sources of income.

If you were stupid enough to think the government was going to take care
of you when you retired then you deserve to live in poverty.

This recession could in fact get very ugly, riots over food, jobs and
retirement benefits.

Thank you FDR and LBJ.