Quote:
Originally Posted by Villages Kahuna
Neither of my sons believe that they will get anything, or certainly nothing of any substance, from Social Security when they retire. They are both making their alternative savings plans based on no portion of their retirement income coming from Social Security -- and Medicare, as well.
Those of us that are getting payments and those that are just "close" better just get used to the idea of some major cutbacks in Social Security. The "numbers" simply don't work and the Congress has ignored even beginning any discussion of correcting the financial underpinnings of the program. We were within 7-8 years of the insolvency of Social Security before the current financial crisis became apparent. It's pretty sure that we're closer now.
Personally, I think that both Social Security and Medicare payments are going to have to be "means tested". That is, if you have enough income or assets that would indicate that you don't need the SS payments or if you can afford to pay for your own healthcare insurance, that's what will happen.
Something like that HAS to happen. As I said, the "numbers" simply don't work for Social Security and they absolutely don't work for Medicare. Blame all those Congressmen and Senators who simply refused to even discuss the problem for the last twenty years. Any arguments of how you contributed all those years or whether limiting both Social Security and Medicare to only low income folks thereby "redistributing income" from the wealthy to the poor will fall on deaf ears. The amount of revenue being collected is simply not enough to pay for the projected benefits to the number of those already retired and those who will retire within the next decade or so. And the SS Trsut Fund that had been allocated to pay for future benefits was rolled into the general budget of the government about 4-5 Presidents ago. SS is now on a "pay as you go" basis.
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that's because the sleazebag bottom feeding congressmen have no worries... they have a pension and healhcare plan unequaled... thus will start the revolution in the streets....