Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#16
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If the US Govt, specifically, the military, had kept the promise of free medical care for the life of a retiree, I would not need Medicare.
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Black Sabbath Matters |
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#17
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For most it’s perhaps a ok deal. But to be self employed and pay in 15.3 percent 12.4 is as ss and 2.9 as Medicare is high. A person making good money and wise investing all those years would be a fortune ahead to invest that 15.3 percent. To buy land 50 years ago and sell it today would have been great! Possibly millions ahead of the game. I know I could have made a lot of money on that 15.3 percent for 50 years. Some people may have been broke with nothing while others would have been millionaires many times over. Just think most collect a check for 10 years n more while others pass before their first check. How sad is that investment!
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#18
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And they entitled themselves to my paycheck for 48 years also.
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#19
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Social security provides half our income, with savings making up the rest. So yes, both are critically important to us. |
#20
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What is the real motive of this thread ? Political ? Ask your question a different way - If you are wealthy enough are you willing to give up your earned benefits for the greater good or no I sacrificed and paid into the system and now it's time to withdraw from my savings account. Almost a Catch 22.
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#21
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Our savings is taking a hit because of the Bang - Bang Shrimp Day. 4% Rule Forgetaboutit it's been about 40%. |
#22
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Both are insurance as I see it. Once a person gets sufficient QCs, in the unfortunate event one becomes disabled both Social Security and Medicare kick in; at least they did for my daughter. If we pay SS until we reach full retirement age we collect a certain amount based largely on our earning history. Of course we have from age 62 to 70 to start collecting SS. Some do not live long enough to collect a dime, but they pay based on their earned income until they die.
Medicare started for me at age 65 and was I ever happy about that! I was paying over $10,000/year for a Blue Cross policy which was not all that great. I buy a United Healthcare supplement as well. So far I have been fortunate medically but one never knows and the most medical costs statistically usually occur during the last three years of life. I am not happy about paying far more for my medicare policy than I would if I had less income. That is essentially additional income tax IMHO. I am also not happy that SS and Medicare funds have been gutted by politicians. My parents both needed and benefitted from SS and Medicare. I would have had to help them financially had they not had it. I believe both programs are conceptually wonderful but they have been mismanaged and abused.
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"No one is more hated than he who speaks the truth." Plato “To argue with a person who has renounced the use of reason is like administering medicine to the dead.” Thomas Paine Last edited by manaboutown; 10-07-2020 at 07:02 PM. |
#23
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#24
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Even though some do not like the term, by law they are entitlements. Research the law that established them, it stipulates they are entitlements
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#25
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#26
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Noun: the belief that one is inherently deserving of privileges or special treatment I for one and think you would agree, its NOT special treatment,but the law which I had no choice but to be in and pay into, with the promise I would get back an agreed upon amount. |
#27
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True, they are NOT entitlements. The government does not pay for them; we and our employers paid into them and it’s our money.
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#28
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There is an easy solution to the “Social Security crisis”. Raise the withholding tax for both employees and employers by 0.2% a year for five years, then keep it there. That extra total of 2% per year from us to our Social Security fund will do the trick. Starting next year, I think, the full retirement benefit age will be 67. It’s 66 at present. That helps a lot, too. If everyone waited until then instead of drawing money at 62, that would help. In twenty years, most Baby Boomers will be dead, and there will be less demand. |
#29
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Social security is not an entitlement!!! You paid for it.
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#30
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Closed Thread |
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