In the spirit of "Shared Sacrifice"

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Locked

What income level collects NO SS benefits?

>100K
4
16%
>100K
4
16%
>150K
0
No votes
>200K
1
4%
>200K
1
4%
>300K
2
8%
no income limit
13
52%
 
Total votes: 25

Topic Author
exoilman
Posts: 766
Joined: Wed Oct 15, 2008 1:38 pm
Location: New Jersey

In the spirit of "Shared Sacrifice"

Post by exoilman »

If everyone is to help. Pure poll, no political or other comments please.

regards
Sam
texas_archer
Posts: 425
Joined: Wed Dec 01, 2010 11:20 am

Post by texas_archer »

Im sorry, I paid into SS and was told I could withdrawl. If my income is 1 million I expect to be able to withdrawl what I paid in. End of story. Its not my fault the idiots in Washington thought it would be a great idea to borrow against SS.

Im 32 and Ive maxed out my SS contributions for the last 4 years.
Wagnerjb
Posts: 7203
Joined: Mon Feb 19, 2007 8:44 pm
Location: Houston, Texas

Post by Wagnerjb »

Wouldn't it be better to "share" the sacrifice? That means everybody. In that spirit, how about raising the age at which you qualify for SS?
Andy
letsgobobby
Posts: 12073
Joined: Fri Sep 18, 2009 1:10 am

Post by letsgobobby »

in before the lock...
Harold
Posts: 3154
Joined: Sat Mar 03, 2007 7:50 pm
Location: San Francisco

Post by Harold »

Saddens me that it seems just impossible to have an honest discussion about Social Security in the general public arena.

Rather than looking at the program as it actually is, virtually everyone in the general public chooses misleading at best (and usually incorrect) language and applies favorable misinformation to put the program in the light of "getting what's theirs" and displaying genuine anger if they don't.

Quite disappointing, because in the abstract (absent emotions) it is an interesting structure, posing interesting problems with attainable solutions, and is important for our society.
User avatar
#Cruncher
Posts: 3051
Joined: Fri May 14, 2010 2:33 am
Location: New York City
Contact:

Post by #Cruncher »

exoilman wrote:no political or other comments please
OK on the political comments given the forum policy. But no other comments? Puuuleaze, yourself! Comment is what we do here.
texas_archer wrote:Its not my fault the idiots in Washington thought it would be a great idea to borrow against SS.
Not you necessarily, but collectively we did vote for the idiots.
texas_archer wrote:I'm 32...
You have more to gain by fixing SS than us crustaceans.

I'm 65, have made SS contributions for over 40 years, and am looking forward to the SS benefit supplementing my retirement income. But I'd happily give it all up if it meant my country didn't turn into a banana republic.
Topic Author
exoilman
Posts: 766
Joined: Wed Oct 15, 2008 1:38 pm
Location: New Jersey

Post by exoilman »

Couln't agree with you more, Harold. I am sure part of the "shared sacrifice" will have other components as well.

regards
Sam
Topic Author
exoilman
Posts: 766
Joined: Wed Oct 15, 2008 1:38 pm
Location: New Jersey

Post by exoilman »

And you as well #Cruncher!

regards
Sam
grberry
Posts: 234
Joined: Fri Jul 20, 2007 1:16 pm
Location: Boston, MA

Post by grberry »

Shared sacrifice means everyone sacrifices. An income limit is opposite to the concept of shared sacrifice. Increasing the age limit or an equal percentage reduction for everyone is a shared sacrifice.
ResNullius
Posts: 2091
Joined: Wed Oct 24, 2007 3:22 pm

Post by ResNullius »

I read an article recently (sorry, but I don't recall where) in which the amount of $60K was used as the cut-off for SS. The cut-off was supported by various Dems and some Repubs, most of whom were retired from the House or Senate. According to the article, there simply isn't enough savings to be gained by a cut-off point much above $60K. I assume they were talking about $60K for a single person (with $120K for a joint return), but I can't recall.
Default User BR
Posts: 7501
Joined: Mon Dec 17, 2007 7:32 pm

Post by Default User BR »

texas_archer wrote:Im sorry, I paid into SS and was told I could withdrawl. If my income is 1 million I expect to be able to withdrawl what I paid in.
SS is not now, and never was, a savings account. You were never promised that you could withdraw you what you put in.


Brian
Topic Author
exoilman
Posts: 766
Joined: Wed Oct 15, 2008 1:38 pm
Location: New Jersey

Post by exoilman »

grberry wrote

"Shared sacrifice means everyone sacrifices. An income limit is opposite to the concept of shared sacrifice. Increasing the age limit or an equal percentage reduction for everyone is a shared sacrifice."

Currently the only ones sacrificing are the folks who pay taxes on the benefit.

Sam
texas_archer
Posts: 425
Joined: Wed Dec 01, 2010 11:20 am

Post by texas_archer »

I look at SS as the worlds biggest Ponzi Scheme. The ones that it really benifit are the ones that do not take responsability for their own lifes and safe money for their future. The ones that will get screwed are those that pay in 6%/year up to 106k and will get nothing back from it. Its just another busted intittlement program.
stlutz
Posts: 5572
Joined: Fri Jan 02, 2009 1:08 am

Post by stlutz »

From an investing standpoint, the results of this poll show that Treasuries can no longer be considered a risk-free asset. There simply is no guarantee (or probability) that the federal government will get it's fiscal house in order. In contrast, the states are (regardless of which party is running things).
Rrolack
Posts: 63
Joined: Fri May 22, 2009 12:18 am

Post by Rrolack »

I think we need a few more options:

>50K
>25K
>10K


Seriously though; in before lock.
Beerwolf
Posts: 30
Joined: Wed Jun 30, 2010 11:13 am

Post by Beerwolf »

The 60% of us who work and pay all the income tax are already doing the sacrificing. We shouldn't be giving up more so the government can change the rules mid-game.
Sidney
Posts: 6750
Joined: Thu Mar 08, 2007 6:06 pm

Post by Sidney »

texas_archer wrote:Im sorry, I paid into SS and was told I could withdrawl. If my income is 1 million I expect to be able to withdrawl what I paid in. End of story. Its not my fault the idiots in Washington thought it would be a great idea to borrow against SS.

Im 32 and Ive maxed out my SS contributions for the last 4 years.
Actually, the Supreme Court ruled in 1960 that Social Security is not guaranteed; ie, it is not a pension system.
I always wanted to be a procrastinator.
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