Do You Know What's Great About Pensions & Social Security?

L

Lon

Well-known Member
Location
Central California
They come in steady and regular every month and are not dependent on the Dow Jones or any other financial index.

Watching my investment accounts take a beating this week makes me very happy that I am not dependent on them for my living and pleasure expenses.
 

You have just identified the reason that the idea of attaching the SS system to the stock market is a bad one. Republicans have tried under GW Bush and now his little brother wants it too.
 
AZ Jim said:
You have just identified the reason that the idea of attaching the SS system to the stock market is a bad one. Republicans have tried under GW Bush and now his little brother wants it too.
Click to expand...

Excellent point, Jim - except I would add that all the republican candidates want to do this.
 

Lon said:
They come in steady and regular every month and are not dependent on the Dow Jones or any other financial index.

Watching my investment accounts take a beating this week makes me very happy that I am not dependent on them for my living and pleasure expenses.
Click to expand...

Must be nice. I am dependent on my investments to produce enough income to cover my expenses. I try to stay balanced, but not fun watching your stocks take a hit. But as they say......it is what it is. I will have SS coming in before too long and that will take pressure off my investments. May buy a small fixed annuity too to supplement SS and serve as my pension. Then I can look at weeks like this as you do. ;)
 
Lon said:
The Repubs want to use the Market for accumulating funds and it has nothing to do with how payments are made.
Click to expand...

Te repubs want to allow the wall street banks and institutions gamble with OUR money. If wall street goes into a prolonged dive what do you imagine will happen to our retirement checks? Get real!
 
AZ Jim said:
Te repubs want to allow the wall street banks and institutions gamble with OUR money. If wall street goes into a prolonged dive what do you imagine will happen to our retirement checks? Get real!
Click to expand...


Very true... But not only gamble with it... but skim a little off the top in commissions.. GOP is always looking out for it's buddies and to figure out more ways to move some of our money up to the top.
 
The plans for privatizing that I have seen would have options to pick from, similar to a TSP plan for government employees. If one does not want money in the stock market, you pick a 'guaranteed' option investing in Treasuries. Would be the same as what you have now. I would like to have options, but many do not want any.
 
Bullie76 said:
The plans for privatizing that I have seen would have options to pick from, similar to a TSP plan for government employees. If one does not want money in the stock market, you pick a 'guaranteed' option investing in Treasuries. Would be the same as what you have now. I would like to have options, but many do not want any.
Click to expand...


Not at ALL like what we have now. Now there is no fund or account tucked away with your name on it.. Our SS checks are funded by the people currently working and paying FICA. When we were working, we funded the checks of our parents and grandparents. So this would be a hugely regressive plan completely penalizing people with less money to put away.. It's great for people making a butt load of money but what about people that can barely get by? Again... the GOP shows where it's loyalty is.
 
Government just doesn't do a good job in the finance department and never has. Their whole solution to any financial problem is to take from Peter to pay Paul. Government does not create $$$ or wealth they deplete and destroy it.
 
Lon said:
Government just doesn't do a good job in the finance department and never has. Their whole solution to any financial problem is to take from Peter to pay Paul. Government does not create $$$ or wealth they deplete and destroy it.
Click to expand...

That's it in a nutshell.
 
Still no answer to my question... What happens to the people who do not make enough money to put into a private account to sustain them in retirement even at the poverty level? Tough? Let 'em starve... BEG?? What's the Conservative "wisdom"?
 
The reason that some people in past years were not making sufficient income to save or invest is because of certain government policies and was not caused by the Private Sector. What is your Nursing "wisdom"? Give em a government pill.?
 
What Bush actually proposed was investment options for only a portion of a person's SS contributions. It wouldn't be a total conversion. As far as what lower earners would receive, they would receive much less than what a high end earner receives. That is the case today.

The discussion is really a moot point. No way I see anything like this implemented. Continue on with the status quo. Most of us will be dead before the system goes belly up anyway.
 
Again.. raising the cap on FICA would solve the problem.. BUT.. then the wealthy would pay more... and wouldn't be able to dip into our money like they would if it were in the market.. SOOO.... you can see why the GOP wouldn't stand for it.
 
The first shovel load is how we begin to dig a grave. In other words "privatization" is only the way to open SS to further raids by republicans
 
I have no problem with raising the caps. But I doubt those nasty republicans can keep their hands off of the additional revenue. Budget deficits would increase leaving only an appearance of financial improvement in SS. ;)
 
You must log in or register to reply here.

Back
Top