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Calculating S.S. benefit at 62 vs 66
wrote:
On Sun, 10 Aug 2014 23:51:40 -0400, Wayne.B wrote: On Sun, 10 Aug 2014 23:36:29 -0400, wrote: On Sun, 10 Aug 2014 23:24:15 -0400, Wayne.B wrote: We'll see. There are a lot more senior citizens now than there were in the 80s, and we are organized, and we vote. I think it would be political suicide for anyone trying to increase SS taxes beyond today's onerous levels. At least I don't have New York and New Jersey reaching into my pocket anymore, and our property taxes are only 25% of what we used to pay in the NY 'burbs. Dockage is cheaper also. :-) It all depends on whether the kids start voting their interests. When their FICA taxes start being more than their income tax, they might wake up. For some it is more now, they just don't know because Sammy takes it before they see their check. === Isn't it true that the people with good jobs are very much a minority? The government will eventually "fix" social security by either fudging the cost of living calculations or eliminating COLA entirely. That will be followed by a round of hyper inflation. The "official" rate of inflation is already being fudged a great deal, and hyper inflation with a weak dollar is the inevitable consequence of long term defecit spending. I think the whole concept of SS/Pensions is in for a reality shock. No matter how you slice it, you can't have as many people "retired" as the demographics predict. We are already seeing the SS problem since it is upside down for the first time in history. The supporters are simply in denial about that. The next shoe to drop will be the effect on the equities market when the boomers start drawing down their 401ks and spending that money. That is money that will leave the market and will not be back. The Fed can't keep printing money out of thin air forever too cover our debt and to keep investment growing. I think that is why we have the 1% now. If those people actually tried to spend some of those unrealized capital gains Harry is so mad that they have, the whole house of cards would collapse. They keep the market going with money they will never take out and spend. Most of that money is just an illusion, numbers in a computer representing nothing and simply making it look like we are prosperous as a whole. The housing bubble and the dot com bubble were just a sneak peak at the debt and phony money bubble we have coming. It might happen as soon as Warren Buffett dies and they try to liquidate Berkshire Hathaway for charity as he promised. You should change your handle to Mr. Apocalypse. 😳 -- Posted from my iPhone |
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