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LeeJ Member Patricius
since 2003-06-19
Posts 13296
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Would like to read all your feedbacks and feelings about Social Security and restructure? |
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Alicat Member Elite
since 1999-05-23
Posts 4094Coastal Texas |
Well, I've pretty much known since my early 20's that I would see little if any of my Social Security earnings when I reached retirement age. I was born in 1970, and knew that the Boomers far outnumbered their children, though their children would be the ones funding the Boomer's retirement. And since the Social Security fund was part of the General Fund, it got raided regularly by Congress. The largest raid was in the mid-90's, which so enraged senior citizens that there was one of the largest turnovers in Congressional seats in 1996. Private accounts will not affect those already retired, or those over the age of 50. Ministers who opted out of Social Security (they have that option), as well as the self employed will definately not be affected, since they have to provide their own retirement funds. As time goes on, the worker to retiree ratio will drastically shorten to roughly 2 workers per 1 retiree unless there is a very large birth boom, which I frankly don't see happening. Lacking any other real alternatives, I'm all for Private Accounts. Federal employees have had something akin to Private Accounts for quite some time, and it seems to be working there. Other options would be self maintained IRA's, stock portfolios and long term mutual funds. |
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Sunshine
Administrator
Member Empyrean
since 1999-06-25
Posts 63354Listening to every heart |
quote: Ditto. That, and the remainder of your last paragraph, Ali. People need to know that to get the government back on its "own" footing, would be for it to stop tending to our business. Let it run its own house [they get our taxes, don't they?] and let us run ours. Those who are unprepared to take care of themselves would still, after retirement, foolishly be spending their children's dollars, anyway. [Gee, this doesn't sound like Sun, does it?] People must, and need to start accounting for themselves from the get-go, once they enter the work force. A document should be given them [for once the government can say, "here's your dollar back in the form of 'how to' save for yourself..."] With all of the financial information available to people now, it would have to be a very disabled person in several ways not to be able to take care of themselves. Those with wayward habits will fall onto bad times, yes. But if they do not hold themselves accountable, why should we? Stepping off the box now. It's someone else's turn. [This message has been edited by Sunshine (01-13-2005 06:59 AM).] |
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Alicat Member Elite
since 1999-05-23
Posts 4094Coastal Texas |
Listening to the Honorable Senator Kennedy, I could only shake my head in wonder. 'No crisis', he says. For most of the Congress, it's not a problem that would ever affect them. They have private accounts. And even those who are signed up for Social Security would get their dues. By the time SS hits the crisis point, which some peg between 30 and 40 years off, almost all of our current Congress will be long in the grave, with most the Boomers between 70 and 90, and with the great advances in medicine, people are living much longer than they used to. |
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Denise
Moderator
Member Seraphic
since 1999-08-22
Posts 22648 |
I'd say private accounts are definitely the way to go for those of the younger generation, like you, Ali. Kennedy's remarks come as no surprise. Even with the evidence slapping them in the face that their beloved socialist programs have serious flaws, they refuse to see them. |
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RSWells Member Elite
since 2001-06-17
Posts 2533 |
Oh yeah, I have a big picture of kids saving money for their retirement, something that must gnaw on the mind of any 20 year old daily. With a record deficit, a perpetual war to pay for and cute assurances of no raised taxes there is only social security money left to be looted. Soon the money won't be there for millions who've paid in but that's ok, all the fine churches will embrace us out of the goodness of their hearts (and doubtless desire nothing in return) Privatization is orwellian doublespeak for stealing. As we speak water rights are being "privatized" Poets against the war is redundant |
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Brad Member Ascendant
since 1999-08-20
Posts 5705Jejudo, South Korea |
quote: This is exactly why it's not a problem. |
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Sunshine
Administrator
Member Empyrean
since 1999-06-25
Posts 63354Listening to every heart |
Yes, exactly, Richard, I realize that, but it COULD start in the home... Most things are learned through one's environment. Being "on the dole" has been a learning process for several decades now...soon enough it becomes habit. So why can't other, more positive lessons be learned. And it can start as soon as one is old enough to understand the concept of a birthday gift when it comes to the "financial" gift. Mom and/or Dad helps the child divide the total of the gift - half into savings, the other half into cash for whatever is needed/wanted. I know it sounds too simplistic to work. But it can work. And in some households, it does. As a responsible part of the "boomer" generation, it is still in our hands and within our power to teach the younger generations that we don't "need" everything that the media markets try to sell us. |
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LeeJ Member Patricius
since 2003-06-19
Posts 13296 |
So why can't other, more positive lessons be learned. And it can start as soon as one is old enough to understand the concept of a birthday gift when it comes to the "financial" gift. Mom and/or Dad helps the child divide the total of the gift - half into savings, the other half into cash for whatever is needed/wanted. Karilea Your thinking parallels mine...it's what I call, lack of education....and I wish so...parents would learn how to parent again... I'm also with you all whom believe that we as citizens should take responsibility and let those guys do the jobs that they were hired to do...they really do forget, who they're working for... Also, something that really hits home is the surprise, that a lot of people today, do not realize, that they've been paying into social security since they're first job??????? eyyy, yi yi!!!!!! |
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RSWells Member Elite
since 2001-06-17
Posts 2533 |
If the parents are uneducated and in the third, fourth or fifth generation removed from the lessons learned by the dwindling numbers of Great Depression survivors and who have been bombarded with the material world then how would they be reached short of disaster? We may not see those stories as much now (not media trendy I suppose) but what do we make of those ghetto kids who killed for a damn pair of shoes or coat? My nephew got jumped in Pittsburgh 7 or 8 years ago and had the hell beat out of him for his Dallas Cowboy coat (Dallas Cowboys in the Burg!?) Herded into urban areas increasingly dependant on fewer and more concentrated corporations for their very food and power, (heat etc) I muse increasingly on those simpler folks who the seemingly urbane sophisticates look down on, those who live in West Virginia valleys growing their own food and relying as little as possible on a strangling bureaucracy. Food, clothing, shelter...all else is tripe. Many years ago I was a teachers aide who traveled on the bus with mostly minority kids to another school where, once or twice a week we taught them how to balance a checkbook and other basic real life needs. The media is in the wrong hands and increasingly I see capitalism as a ponzi scheme, a pyramid whose apex will only house a priviledged few and who will always stay above the coming storms and floods. One can't eat an Air Jordan or shower in a Lexus. Poets against the war is redundant [This message has been edited by RSWells (01-13-2005 08:34 PM).] |
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