WE THE PEOPLE MUST have a referendum to Abolish ALL Government Pensions!!! The Congress, Senate and EVERY former President SHOULD NOT be entitled to a Pension AT ALL because THEY sold the American people down the river these past 40 years... The USA is OWNED by the IMF, Federal Reserve Bank, and CHINA. WE THE PEOPLE NEED TO FORCE THEM TO GIVE UP THEIR PENSIONS!!!!
Robert Bartoof NY1:56AM April 27, 2012
Get ALL the illegals off the American benefits that do NOT belong to them! ALL the politicians should have to pay their way EVEN while in office! They should HAVE to pay their own healthcare benefits and they should NOT get anymore "cost of living" or "merit" (joke) raises when the private sector who WORK for their money, get no raises or the people on S.S. have to wait 2 years for a COLA increase! There ARE ways to balance the budget and free up more money for the states but the "career politicians" do NOT have the guts to take that step to do it, all they care about is getting re-elected for another round of FREE-BEES at taxpayers expense. Since THEY are the ones that got this country in the financial mess it's in today, THEY are the ones that OWE it to the Americna taxpayers to get this country OUT of the mess! They don't want to tighten THEIR belts or give up any of their paid for free-bees, but they expect the hard working, legal Americans to do whatever they dictate.
THEY should practice what they preach and govern by example which is nothing for them to be proud of!
The Social Security system is for all those that paid into it and need it to survive! It is NOT for all the greedy, politicians to use as their own ATM machines or for the states to use at will or for ANYTHING else but for the ones that truly need it to survive. It is and SHOULD ALWAYS be the SEPERATE ENTITY it was set up to be. It should NEVER be included to balance the budget as Bill Clinton used it for to make himself look good as our saviour president.
Gretta of IL3:53PM April 24, 2012
What if ss benefits were capped the amount of years each person works? What if we stop paying able bodied young people to set at home and play video games? What if we drug test everyone and cut their benefits 20 per cent every time they test dirty? I drove truck for 40 yrs the drivers knew they could be tested at any time and would be fired and lose there C D L and would be banned from driving for a living. Very few were. I suspect if we could find a way to eliminate fraud that would solve this problem all by itself.One more thing ,I think that your numbers don,t reflect the fact that a lot of us boomers will most likely not be alive in 10 yrs.Problem Solved.
paul fallonof MI3:18PM April 24, 2012
Anytime one goes to official government sites reporting the statistics of this program the word insurance is often used, though it is really a tax transfer payment program.
Therein lies a major reason to reform it. Political control and use of the trust fund with special bonds is a shell game Congress has proved it can no longer manage without succumbing to politics and spend it.
This program needs generational changes that ought to place more individual control over the accounts and less in the hands of the Congress.
Reforms that follow this path would reward individuals with better returns, higher annuities and wealth that can be passed onto the next generation.
Today, a person who might work for 40 years at the median income level of about $45,000 can expect a monthly stipend after retirement of about $1,600 a month, or $19,200/ year and no lump sum for their heirs beyond a $100 death benefit.
Source: SSA Calculator
If an individual, on the other hand, earned the same $45,000/year for 40 years and invested the 12.4% withholding from the tax, placing it into conservative investment returning 4%/year (the same rate the SSA now receives), they would have a lump sum of about$550,000. They could then create a monthly income,assuming the same 4% interest rate, of ~$1,825/month or $21,900/year WITHOUT touching the principal!
They could continue to draw income from the lump sum, eventually spend it down if they chose at some point, or leave it for their heirs.
This is a scenario I would hope every thinking, math literate voter will push for from our elected officials when the time comes for us to fix this for ourselves and the coming generations.
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Robert Barto of NY 1:56AM April 27, 2012
Gretta of IL 3:53PM April 24, 2012
paul fallon of MI 3:18PM April 24, 2012
Can We Talk? of GA 2:36PM April 24, 2012