Comments on: Ten years left for Social Security http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/ Protect yourself from government gaffes, bureaucratic blunders and incumbent incompetence Mon, 06 Feb 2012 16:25:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Justicia http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15154 Justicia Wed, 23 Jun 2010 00:54:26 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15154 To Trucker Mark: I feel your pain! You spoke a lot of sense that some of the bloggers cannot comprehend. It would be interesting to see how many people would actually have a retirement fund, IF, they did not receive S.S. It might sound good to say, "Oh, everyone should have or could have saved more money, if they had invested their own money!" Michael Hampton is assuming that the majority of people even know how to invest, or would even be able to automatically take money out of each paycheck, in order to invest! In a perfect world, everyone would be able to do that!! S.S. assists individuals in saving for their retirement, and I for one, am happy about that. S.S. is not a lot, but it does allow individuals to live a reasonably honorable life!! Some of us, not only paid into S.S., but had a 403B or 401K as well. The hurting thing about that is; there was a bill called "the off-set, or 2/3 windfall", which denies someone who also has another retirement source, from receiving all of their S.S. Benefits, or any at all, even after earning the appropriate points! Now, that's highway robbery! When I went in to apply for my S.S., I was furious. I was unable to receive any of my earned S.S., because of the 2/3 windfall. So, in fact, someone else is receiving what I earned! Michael, what do you think about that? You want to talk about unfair???? We MUST GET A HANDLE ON IMMIGRATION. I truly feel that this is a part of the equation, that has not been factored in. How do you continue to pay OUT, when the appropriate MONEY has not been put IN?? Makes you go HUMMMMMM!!! To Trucker Mark:
I feel your pain! You spoke a lot of sense that some of the bloggers cannot comprehend.

It would be interesting to see how many people would actually have a retirement fund, IF, they did not receive S.S.
It might sound good to say, “Oh, everyone should have or could have saved more money, if they had invested their own money!” Michael Hampton is assuming that the majority of people even know how to invest, or would even be able to automatically take money out of each paycheck, in order to invest! In a perfect world, everyone would be able to do that!!
S.S. assists individuals in saving for their retirement, and I for one, am happy about that. S.S. is not a lot, but it does allow individuals to live a reasonably honorable life!!

Some of us, not only paid into S.S., but had a 403B or 401K as well. The hurting thing about that is; there was a bill called “the off-set, or 2/3 windfall”, which denies someone who also has another retirement source, from receiving all of their S.S. Benefits, or any at all, even after earning the appropriate points! Now, that’s highway robbery!

When I went in to apply for my S.S., I was furious. I was unable to receive any of my earned S.S., because of the 2/3 windfall. So, in fact, someone else is receiving what I earned! Michael, what do you think about that? You want to talk about unfair????

We MUST GET A HANDLE ON IMMIGRATION. I truly feel that this is a part of the equation, that has not been factored in. How do you continue to pay OUT, when the appropriate MONEY has not been put IN?? Makes you go HUMMMMMM!!!

]]> By: Tom Baugh: Liberty and Free Trade in an Era of Secession | Homeland Stupidity http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15153 Tom Baugh: Liberty and Free Trade in an Era of Secession | Homeland Stupidity Fri, 26 Mar 2010 19:39:52 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15153 [...] of health care, along with this week’s news that Social Security has gone into the red years earlier than expected, makes the government fiscal situation — not to mention that of ordinary Americans — [...] [...] of health care, along with this week’s news that Social Security has gone into the red years earlier than expected, makes the government fiscal situation — not to mention that of ordinary Americans — [...]

]]> By: Michael Hampton http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15152 Michael Hampton Wed, 03 Feb 2010 05:23:02 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15152 Trucker Mark, to address your immediate problem, most towns and cities will grant property tax abatements for people below a certain level of income. It's something to look into. As you've correctly noted, Social Security will be a raw deal for you, and for most baby boomers. If you'd been able to invest that money yourself, you could retire comfortably and play golf every day for the rest of your life. Probably could have years ago. Instead you were forced into a Ponzi scheme the likes of which Bernie Madoff could only have dreamed of, and like Madoff's scheme, it's unclear whether there will be any money left for you. The trouble with the economy today goes far beyond Social Security, as some of my more recent articles illustrate. In each case, it has been the government which has taken a perfectly workable system and completely screwed it up. No single person is to blame; it isn't fair to lay the blame on Obama, or Bush, or Clinton, or whoever. The system itself is fundamentally flawed. As I've noted elsewhere on this site, it is this same system which has driven health care costs through the roof. Turning over what's left of it to the government would be even worse, I think, than turning it over to Bernie Madoff. There have been no "market failures." The economy has failed because the government, with the help of the Federal Reserve, has brought us to the brink. Encouraging them to do even more will result in more of what they have done to us. It's time to take the keys away before they drive us over the edge of the abyss. Trucker Mark, to address your immediate problem, most towns and cities will grant property tax abatements for people below a certain level of income. It’s something to look into.

As you’ve correctly noted, Social Security will be a raw deal for you, and for most baby boomers. If you’d been able to invest that money yourself, you could retire comfortably and play golf every day for the rest of your life. Probably could have years ago. Instead you were forced into a Ponzi scheme the likes of which Bernie Madoff could only have dreamed of, and like Madoff’s scheme, it’s unclear whether there will be any money left for you.

The trouble with the economy today goes far beyond Social Security, as some of my more recent articles illustrate. In each case, it has been the government which has taken a perfectly workable system and completely screwed it up. No single person is to blame; it isn’t fair to lay the blame on Obama, or Bush, or Clinton, or whoever. The system itself is fundamentally flawed.

As I’ve noted elsewhere on this site, it is this same system which has driven health care costs through the roof. Turning over what’s left of it to the government would be even worse, I think, than turning it over to Bernie Madoff.

There have been no “market failures.” The economy has failed because the government, with the help of the Federal Reserve, has brought us to the brink. Encouraging them to do even more will result in more of what they have done to us. It’s time to take the keys away before they drive us over the edge of the abyss.

]]> By: Trucker Mark http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15151 Trucker Mark Wed, 03 Feb 2010 04:48:51 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15151 Sure, no problem, blame us baby boomers, the generation that was expected to work hard and pay of the retirements of the WWII and Korean War generations. Most of us baby boomers have worked hard for 35 or 40 years or more, paying into a retirement system without question, like good citizens. Now with medical care and medical insurance costs rising out-of-control, many of us baby boomers are being let-go from our jobs lest we drive-up our employer's health insurance costs. Too bad that we are now in our 50s and 60s, too bad that people that age often need medical care, too bad that we have paid into a retirement system since the 1960s or 1970s that will now not be financially able to service our needs. I am a Korean War baby boomer, my first job was in 1972, 38 years ago. Since then I have paid $50K or more into Social Security, which should have been compounding interest. The age for full retirement has already been raised once, from age 65 to age 70, with 75% payment available at age 66 & 1/2, for me not until February of 2024, though I can get half at the age of 62. Half of my current benefit only amounts to $1200/month. Where in the US can I afford food, utilities, property tax, clothing and shoes, not to mention golf and cocktails, on $1200 per month??? I've been a semi driver for 30 years, and I worked in a factory setting-up a big lathe for several years before that. Lately my earnings are in the $50-$60K range, and I am still paying into the system. Kind of funny, figured for inflation, my earnings are only half of what they were in 1982, when I had 3 years of experience driving a semi. My 35th high school reunion is this Summer, where we will undoubtedly talk about retirement looming. Us good citizens, who have paid into the Social Security and Medicare systems our entire lives, are now being blamed for its insolvency. Just keep on working, don't retire they say. Any of you youngsters know what it feels like to be in your 50s or 60s? These days I prefer to relax a fair amount, 18 holes just about wipes me out. So now it is the turn of the younger generations to ante-up, and pay for the retirement of the older generation, just like us baby boomers have done our entire lives, and instead of respecting their elders like we were taught, we are getting blamed for not wanting to work longer. A whole lot of us would like to work longer, but we have been getting laid-off in droves recently because the younger generations have lower medical costs. Just think, we could have passed health-care reform, perhaps done away with a lot of the problem of older workers medical costs driving-up health insurance costs, but I hear that younger workers don't think it is fair to them. What's next, a generation war, the older crowd versus the younger generations for control of scarce resources??? My guess is that in 2019, I'll begin collecting half of my Social Security, after I have been out of work because of my age and the possibility that I might drive-up my employers health-care insurance costs for at least several years. The chance of me working right up to age 66 or age 70 is virtually nil, at any job that has group health-care insurance. Perhaps that is where to lay the blame, on medical costs that have risen 300% (figured for inflation) in the last 10 years. It is little wonder that Social Security is going bankrupt when older workers can't buy a job that has medical insurance. Anybody need any truck drivers with 35 years of experience??? Nope, you are too old!!! A good friend of mine just got laid-off yesterday. He is 55 years old, he had 28 years with his company, he always had excellent reviews, they decided to just keep one guy at his position instead of two, and the other guy was 10 years younger. There goes 10 years of this guy paying into Social Security at the wage-level he was earning. I know at least 10 people on layoff from auto assembly plants, another 10 that have lost their jobs permanently. None of those people are paying into the system more than a fraction of their former level of contribution either. Like I said, it is little wonder that Social Security is going bankrupt when age 55 is the new retirement age. I favor socialized medical care, I think that it would rid us of the problem of companies getting rid of older workers to avoid their higher medical costs. Sure, no problem, blame us baby boomers, the generation that was expected to work hard and pay of the retirements of the WWII and Korean War generations. Most of us baby boomers have worked hard for 35 or 40 years or more, paying into a retirement system without question, like good citizens. Now with medical care and medical insurance costs rising out-of-control, many of us baby boomers are being let-go from our jobs lest we drive-up our employer’s health insurance costs. Too bad that we are now in our 50s and 60s, too bad that people that age often need medical care, too bad that we have paid into a retirement system since the 1960s or 1970s that will now not be financially able to service our needs. I am a Korean War baby boomer, my first job was in 1972, 38 years ago. Since then I have paid $50K or more into Social Security, which should have been compounding interest. The age for full retirement has already been raised once, from age 65 to age 70, with 75% payment available at age 66 & 1/2, for me not until February of 2024, though I can get half at the age of 62. Half of my current benefit only amounts to $1200/month. Where in the US can I afford food, utilities, property tax, clothing and shoes, not to mention golf and cocktails, on $1200 per month???

I’ve been a semi driver for 30 years, and I worked in a factory setting-up a big lathe for several years before that. Lately my earnings are in the $50-$60K range, and I am still paying into the system. Kind of funny, figured for inflation, my earnings are only half of what they were in 1982, when I had 3 years of experience driving a semi. My 35th high school reunion is this Summer, where we will undoubtedly talk about retirement looming. Us good citizens, who have paid into the Social Security and Medicare systems our entire lives, are now being blamed for its insolvency. Just keep on working, don’t retire they say. Any of you youngsters know what it feels like to be in your 50s or 60s? These days I prefer to relax a fair amount, 18 holes just about wipes me out.

So now it is the turn of the younger generations to ante-up, and pay for the retirement of the older generation, just like us baby boomers have done our entire lives, and instead of respecting their elders like we were taught, we are getting blamed for not wanting to work longer. A whole lot of us would like to work longer, but we have been getting laid-off in droves recently because the younger generations have lower medical costs. Just think, we could have passed health-care reform, perhaps done away with a lot of the problem of older workers medical costs driving-up health insurance costs, but I hear that younger workers don’t think it is fair to them. What’s next, a generation war, the older crowd versus the younger generations for control of scarce resources???

My guess is that in 2019, I’ll begin collecting half of my Social Security, after I have been out of work because of my age and the possibility that I might drive-up my employers health-care insurance costs for at least several years. The chance of me working right up to age 66 or age 70 is virtually nil, at any job that has group health-care insurance. Perhaps that is where to lay the blame, on medical costs that have risen 300% (figured for inflation) in the last 10 years. It is little wonder that Social Security is going bankrupt when older workers can’t buy a job that has medical insurance. Anybody need any truck drivers with 35 years of experience??? Nope, you are too old!!!

A good friend of mine just got laid-off yesterday. He is 55 years old, he had 28 years with his company, he always had excellent reviews, they decided to just keep one guy at his position instead of two, and the other guy was 10 years younger. There goes 10 years of this guy paying into Social Security at the wage-level he was earning. I know at least 10 people on layoff from auto assembly plants, another 10 that have lost their jobs permanently. None of those people are paying into the system more than a fraction of their former level of contribution either. Like I said, it is little wonder that Social Security is going bankrupt when age 55 is the new retirement age.

I favor socialized medical care, I think that it would rid us of the problem of companies getting rid of older workers to avoid their higher medical costs.

]]> By: Growth of charities “troubling” http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15150 Growth of charities “troubling” Mon, 07 Dec 2009 16:53:39 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15150 [...] crack down on charities, but to encourage more of them. Government programs meant to help, such as Social Security and Medicare, are failing rapidly, since government welfare programs are never sustainable.Ultimately, when [...] [...] crack down on charities, but to encourage more of them. Government programs meant to help, such as Social Security and Medicare, are failing rapidly, since government welfare programs are never sustainable.Ultimately, when [...]

]]> By: Michael Hampton http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15149 Michael Hampton Sat, 19 Jan 2008 02:59:09 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15149 Con S., it appears from your content-free post that you just might be a liberal. Care to splain, Lucy? Con S., it appears from your content-free post that you just might be a liberal. Care to splain, Lucy?

]]> By: Con S. Ervative http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15148 Con S. Ervative Sat, 19 Jan 2008 02:04:38 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15148 The lack of knowledge, understanding and education exhibited in these comments is astounding. The lack of knowledge, understanding and education exhibited in these comments is astounding.

]]> By: Samuel Hunter http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15147 Samuel Hunter Sun, 06 Jan 2008 17:21:50 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15147 The mystery to me is why none of this is really in the news. About 40% of physicians decided to stop taking Medicare this year. This is a no confidence vote in a centralized system whi has been paying 10-20% less than the cost of service to the people delivering the care, while paying a straight 15% profit to the insurers who pass out the dollars for Medicare advantage programs. You can be sure, the future is that you show up with cash or plastic at the doctors office. Plan for your retirement to have $500,000+ for your healthcare expenses stashed away. Everyone needs a high deductible health plan and health savings account now and stuff it full every year. The mystery to me is why none of this is really in the news. About 40% of physicians decided to stop taking Medicare this year. This is a no confidence vote in a centralized system whi has been paying 10-20% less than the cost of service to the people delivering the care, while paying a straight 15% profit to the insurers who pass out the dollars for Medicare advantage programs.

You can be sure, the future is that you show up with cash or plastic at the doctors office. Plan for your retirement to have $500,000+ for your healthcare expenses stashed away.

Everyone needs a high deductible health plan and health savings account now and stuff it full every year.

]]> By: Ashley McGhee http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15146 Ashley McGhee Tue, 02 Oct 2007 14:22:57 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15146 I am a 17 year old girl i hope there will be social security when i get old enough to need it. Social security helps people and without social security some people wouldn't be able to live. I am a 17 year old girl i hope there will be social security when i get old enough to need it. Social security helps people and without social security some people wouldn’t be able to live.

]]> By: Independence Day - Homeland Stupidity http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15145 Independence Day - Homeland Stupidity Thu, 05 Jul 2007 04:26:19 +0000 http://www.homelandstupidity.us/2007/04/26/ten-years-left-for-social-security/#comment-15145 [...] justices caved in. Today, Social Security and related entitlement programs threaten us all. Their collapse is coming, and the government has no plans to do anything about it. At this point, total economic collapse is [...] [...] justices caved in. Today, Social Security and related entitlement programs threaten us all. Their collapse is coming, and the government has no plans to do anything about it. At this point, total economic collapse is [...]

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