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Obama endorses slavery
On Thu, 14 Apr 2011 21:14:00 -0400, wrote:
On Thu, 14 Apr 2011 10:18:28 -0700, wrote: On Thu, 14 Apr 2011 12:19:10 -0400, wrote: On Wed, 13 Apr 2011 15:43:41 -0700, wrote: On Wed, 13 Apr 2011 12:40:29 -0400, wrote: On Tue, 12 Apr 2011 22:24:26 -0700, wrote: Which has minimal or nothing to do with the solvency of Social Security. The point is they are chipping away at the promise (we were told SS would never be taxed), to make SS more solvent but, as you say, the effect is minimal. I bet there are more promises that will be made "inoperative" as this problem continues. SS benefits are not taxed until you reach the threshold. Then you're taxed. Why is that a problem for you? There is no "chipping away," unless you mean the Republicans in the House and Senate. SS was supposed to always be tax free, at least that was the promise when I started paying my FICA into it. Now it is taxed. I still bet it will virtually be confiscated in the future if you have any other significant source of income. My SS and pension alone is enough to trip the tax trigger now and I haven't tapped my 401k yet. Two things are certain to happen if SS is going to survive. The age will go up and there will be a means test. I know you deny it but you are in denial about all of these debt problems. Sure. Well, I'm not sure when you started paying into it, but in the last millennium or so it's taxed after you reach the threshold. There's already a "means" test, since if you make more than a certain amount, it's taxed. It's possible that the age might have to be raised and while that might be ok for white-collar workers, it's probably not a very good thing for blue-collar. I made my first FICA payment in 1965. I started working in 1962 but I didn't make $500 each year so I didn't pay SS. They started taxing SS benefits in 1983 (thanks Ronnie) I agree the tax is a means test and I bet it gets bigger as SS starts running into more trouble. Raising the age for all retirees is just the consequence of people living longer. Our current pension/SS model is unsustainable. I paid into a pension plan for 30 years, If I live to 80, I will collect longer than I worked. How can that be? So, you agree then that there's already a means test. Thanks. I said that, it was one of the "boaters" who said it wasn't a means test. I just believe that will increase until a person who has any significant income will not actually get any SS. We might need to raise the age, but it must be done slowly not overnight. I agree that is how it will have to get done but they better start pretty soon. Time is running out pretty fast. We are already on the down slope of solvency. It doesn't matter. Your post is off topic. Are you having trouble staying on topic again?? |
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