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Prepare For A 23% Cut In Your Social Security Benefits

  1. #46
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    Quote Originally Posted by mathjak107 View Post
    i did say there are exceptions and there are . but very few are true exceptions . i think we can all think of someone who is that exception .
    BTW...cool that you were a professional drummer! Do you still play?

  2. #47
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    actually yes . i hated the business after so many years and i put down the sticks 35 years ago . never taught my kids , never brought it up . but for decades i banged on everything in sight . well when i retired my wife said why don't you get a set of pads and play . at first i didn't want to but then i said what the heck .

    well it was love at first sight . i have not put those sticks down in over a year . not only that , but through facebook the band from 35 years ago hooked up . we hit the studio last month and we are all chomping at the bit for the next session

  3. #48
    A reduction will never happen for those already on Social Security. It is future beneficiaries that need to worry.

  4. #49
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    they will have a cut off like they did for file and suspend if they make changes . it will likely not effect anyone close to collecting .

    i don't see reductions in the cards anyway . it would be political suicide with 80 million voting baby boomers

  5. #50
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    "those that really want to succeed will find a way , the rest will just find an excuse."

    Easier said than done. A tad mean spirited too. We all come from different places, backgrounds, and times. We all have different challenges and concerns. Also, life isn't fair. If somebody told you it is they've lied to you. We might talk a good talk about equality but any reasonable person knows deep down it's bull.

    "Walk a mile in another person's shoes" is more my way of thinking.



  6. #51
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    Fake news. SS is safe.

  7. #52
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    Quote Originally Posted by boaterboi View Post
    Fake news. SS is safe.
    I believe it is, at least for now, anyway.

  8. #53
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    Quote Originally Posted by Butterfly View Post
    I believe it is, at least for now, anyway.
    Social Security depends on people have good paying jobs so there is a continuing money flow. All these factories moving overseas, outsourcing, etc could have done enough damage to cause a huge blow... I don't know. Let's hope our government starts taking more of a long term view of our economy/country and does the right things.

  9. #54
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    factory jobs are gone regardless for the most part . ever see a new modern cnc controlled factory in china ? they are state of the art and use very few people to manufacture . i just retired from the factory automation field here in the states which is booming .

    even if trump brought more manufacturing back , it requires a fraction of the people it used to and at a lower skill lower skill level . robots can perform these jobs at a more efficient higher rate than humans

  10. #55
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    Quote Originally Posted by mathjak107 View Post
    factory jobs are gone regardless for the most part . ever see a new modern cnc controlled factory in china ? they are state of the art and use very few people to manufacture . i just retired from the factory automation field here in the states which is booming .

    even if trump brought more manufacturing back , it requires a fraction of the people it used to and at a lower skill lower skill level . robots can perform these jobs at a more efficient higher rate than humans
    Robots don't pay into the Soc. Sec. system so it stands to reason that there will be less money to draw from in the future. Tapering off outgoing payments is a no brainer, but like everything else don't begin until I get mine.

    I'd hate to be around when the politicians that will have to deal with the problem if some action isn't put in place now to remedy what everyone should understand is coming.

  11. #56
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    Quote Originally Posted by Peanut View Post
    Oneeye, From what i've read and understood i don't think that they can touch the pensions of the people whom are currently on ss payments. I believe it only pertains to those who are not as yet receiving their benefits.
    Peanut and all who don't think the cut will happen...here's a letter (I posted in it's own post but no one responded) detailing about the cuts. I synopsized it but the link is for the entire document. If you find a stipulation that says for new beneficiaries only, please tell me where you see it. As I mentioned, when I first started reading about the proposed cut the articles said everyone on SS would be affected.
    The letter is addressed to the Hon. Sam Johnson, Subcommittee on SS, House of Representatives and dated Dec. 8, 2016. This is an excerpt from Pg 4 of the letter. "Under current law, 79 percent of scheduled benefits are projected to be payable on a timely basis in 2034 after depletion of the combined trust fund reserves, with the percentage payable declining to 74 percent for 2090. Under the plan, the OASDI program would be solvent throughout the 75-year projection period, and would have the ability to pay 100 percent of scheduled benefits on a timely basis for the foreseeable future."
    There are additional provisions in this document. You can read the entire document here: https://www.ssa.gov/oact/solvency/SJohnson_20161208.pdf

  12. #57
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    Quote Originally Posted by mathjak107 View Post
    factory jobs are gone regardless for the most part . ever see a new modern cnc controlled factory in china ? they are state of the art and use very few people to manufacture . i just retired from the factory automation field here in the states which is booming .

    even if trump brought more manufacturing back , it requires a fraction of the people it used to and at a lower skill lower skill level . robots can perform these jobs at a more efficient higher rate than humans
    Did not Bill Gates recently suggest that these robots/automation that replace human workers be taxed and/or pay into SS? They may have to come up with some creative solutions for the greater good.

  13. #58
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    just pull ss disability off and add it on to welfare , which it is , and ss retirement and survivor benefits will be just fine .

    the fraud and abuse in disability is insane .

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