Re: Refresher Course on Social Security


"mg" <mgkelson@xxxxxxxxx> wrote in message news:1173715848.791480.264800@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Mar 11, 12:43 pm, "Jerry Okamura" <okamuraj...@xxxxxxxxxxxxx>
wrote:
"mg" <mgkel...@xxxxxxxxx> wrote in message

news:1173587567.170535.316840@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx





> On Mar 10, 11:12 am, "Jerry Okamura" <okamuraj...@xxxxxxxxxxxxx>
> wrote:
>> "mg" <mgkel...@xxxxxxxxx> wrote in message

>>news:1173545582.727981.77660@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

>> > On Mar 9, 8:10 pm, "Jerry Okamura" <okamuraj...@xxxxxxxxxxxxx> >> > wrote:
>> >> "mg" <mgkel...@xxxxxxxxx> wrote in message

>> >>news:1173487909.684085.249260@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

>> >> > On Mar 9, 8:43 am, "Jerry Okamura" <okamuraj...@xxxxxxxxxxxxx>
>> >> > wrote:
>> >> >> "mg" <mgkel...@xxxxxxxxx> wrote in message

>> >> >>news:1173410035.175824.315600@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

>> >> >> > On Mar 8, 2:29 pm, "California Poppy" >> >> >> > <GoldenStatePo...@xxxxxxx>
>> >> >> > wrote:
>> >> >> >> I am still working part-time for a city rec & park >> >> >> >> department.
>> >> >> >> They
>> >> >> >> have their own retirement program rather than SS, which is >> >> >> >> what
>> >> >> >> I
>> >> >> >> think all should be. I was given 19 choices of mutual >> >> >> >> funds.
>> >> >> >> They
>> >> >> >> are labeled as growth, income, and stability. We were given
>> >> >> >> their
>> >> >> >> 3-
>> >> >> >> year average % increase. I chose a Conservative Growth
>> >> >> >> Lifestyle
>> >> >> >> Fund for 50% of my retirement and a Core Bond Fund for 50%, >> >> >> >> but
>> >> >> >> I
>> >> >> >> could have chose any fund and any percentage, and I could >> >> >> >> change
>> >> >> >> any
>> >> >> >> year. This is what should be available for everyone.

>> >> >> > A "city rec & park department" is a government agency that >> >> >> > feeds
>> >> >> > from
>> >> >> > the public trough. They're not subject to the ups and downs of
>> >> >> > the
>> >> >> > free-enterprise system. They don't have to make a profit. If >> >> >> > you
>> >> >> > are
>> >> >> > suggesting they're system should be extended to private
>> >> >> > corporations,
>> >> >> > you're comparing apples and oranges.

>> >> >> No she is saying that what is good for the goose is good for the
>> >> >> gander.
>> >> >> She is saying she works for a government agency who offers her >> >> >> an
>> >> >> opportunity to invest her money and provide her with a chance to
>> >> >> make
>> >> >> a
>> >> >> better return on her investment.

>> >> > She also said:

>> >> > "They have their own retirement program rather than SS, which is
>> >> > what
>> >> > I think all should be."

>> >> > In otherwords what she is apparently saying is that state and >> >> > local
>> >> > government employees don't participate in the SS program, >> >> > therefore
>> >> > it
>> >> > should be eliminated.

>> >> Well, either fix it, or do away with it, and start from
>> >> scratch..because
>> >> it
>> >> ain't doing such a good job right now.- Hide quoted text -

>> > I don't know if it is such a big problem in the overall scheme of
>> > things. To me it looks a lot like Bush tried to pull the same sort >> > of
>> > Chicken Little thing with Social Security that he did with the WMDs >> > in
>> > Iraq and then solve the problem in the same way--by destroying it.

> -> Tell that to those who only have a
> -> social security income to live on....-

> Do you think people would get more under the Bush plan, for instance?

Yes. Had his idea of allowing people to allow 2% of their contributions to
be put into something like a mutual fund, the people who took that option
would have more money to spend when they retire. no one can take that money
away from them, and since it is clearly their money, their heirs should be
able to get that money. "If" the idea had worked, that would have made it a
whole lot easier to address the fiscal imbalance problem with Social
Security, because whatever you have to do to fix the problem will be easier
to fix, when there are some percentage of the population that is not going
to be affected very much by the change.

Are you aware that under Bush's plan, about 2/3 of your Social
Security money would go into a new, means-tested welfare program?

Social Seucity is a welfare program for all practical purposes, because we the beneficiaries of the program did not pay for the benefits we receive. We only paid part of the benefits we receive.

The current program, undoubtedly has some "welfare" components to it.
Non-working wife's, for instance, get benefits even though they've put
nothing into the system. However, Bush's plan would turn Social
Security into a pure welfare program paid for by those who contribute
to Social Security.

How is allowing people to "choose" where to put part of the money they contribute to Social Security a welfare program?

According to an article in USA Today, reductions for various workers
would be as follows:

It does not matter. The program is fiscally unsound. Someday, someone is going to have to try and solve the funding shortfall. The longer they wait, the bigger the pain will be.

.

Relevant Pages

  • Re: Refresher Course on Social Security
    ... >>>>> Chicken Little thing with Social Security that he did with the ... >> would have more money to spend when they retire. ... Social Seucity is a welfare program for all practical purposes, ... and found to be a lot less than what retirees receive now. ...
    (soc.retirement)
  • Re: Administration: Social Security Fix Will Require Combination of Benefit Cuts and Tax Increases
    ... The NASI report agrees with the projections of the Association, which project nearly full solution by investing the entire surplus. ... However, investment in equities goes beyond the 75 year figure, as once the money is invested in the private sector, it will continue achieving money growth at whatever rate the economy permits, in consideration with the expertise of sector managers. ... If you want to argue that the formula used to calculate benefits is skewed to lower incomes, and such forumlarization makes it a welfare program, I would disagree. ... Using that criteria, Social Security is not a welfare program, as everyone who contributes can collect benefits. ...
    (soc.retirement)
  • Re: KILLINGworth, Connecticut- Jonathan Bush and the Riggs Bank CIA Spook Bank
    ... Torture, War Crimes, Social Security, and the Bermuda Bankers ... AIG was later investigated for sending funny money to Bermuda. ... Uncle Jonathan Bush, brother of Poppy, and head of the Riggs Bank- same ...
    (sci.med.diseases.lyme)
  • Re: KILLINGworth, Connecticut- Jonathan Bush and the Riggs Bank CIA Spook Bank
    ... Torture, War Crimes, Social Security, and the Bermuda Bankers ... AIG was later investigated for sending funny money to Bermuda. ... Uncle Jonathan Bush, brother of Poppy, and head of the Riggs Bank- same ...
    (sci.med.diseases.lyme)
  • Worthingkill
    ... Torture, War Crimes, Social Security, and the Bermuda Bankers ... AIG was later investigated for sending funny money to Bermuda. ... Uncle Jonathan Bush, brother of Poppy, and head of the Riggs Bank- same ...
    (sci.med.diseases.lyme)