New Social Security Reform-What they're planning-Shocking !

7/27/2011


Here's one reform their looking at hot and heavy " Social Security Reform"
Read on:

http://www.msnbc.msn.com/id/43912701/ns/business-eye_on_the_economy/


Cheers..Joe....

Looks like it's heading towards means testing. No surprise there.

7/27/2011

I believe all income over 168,000 to several
million dollars should pay social security taxes.

Cheers..Joe

Means testing for social security makes sense to me. Those who complain the most about government programs are the first to claim their social security and medicare benefits - in spite of retirement incomes exceeding $one million a year (I know many of these people). Seems to me a good way to protest a benefit in which one does not believe is to not claim it.....

I also feel that all income from the least to the greatest should pay into the social security system. An arbitrary cut off makes no sense at all. So long as a person is earning income, that income should be taxed for social security. One never knows what the future holds. At least that type of payments system will make sure social security is there for those who need it.

Quote :

There’s widespread agreement that the program needs fixing.

Is there any argument there? That statement is hardly "shocking."

Quote :

...in the early stages of the budget battle, a series of proposals
surfaced that provide clues to what broad reform of Social Security
might look like.

Words like "proposals," "clues", and "might" seem more speculative than "hot and heavy," Joe. It's hard for me to get very concerned over this one.



Ann

7/27/2011



I'm glad I was born way ahead of time, I've retired and I
paid my dues 45 years ! I feel sorry for the younger people
they won't be able to retire until 65 or 75 yrs of age and who
knows by then they'll raise the age again?


Cheers..Joe

I paid into the SS system for 51 years. Most of those years my income went to the max taxed. I never went over enough not to pay the tax since they raised the limit faster than my income grew.

I never planned to retire on social security. I also saved into retirement plans most of my life. The market plunge destroyed my retirement income that was invested conservatively.

Social Security was not intended as the only retirement income. People still need to begin saving for retirement the first day of their employment. However, in my 20's a ski trip or a vacation seems more logical than saving - and that's why at least one forced plan is necessary to save us from ourself.

7/27/2011


DK...

When your young, life is carefree...
You get wise when your older by then
it's too late !

Cheers..Joe