Retirees Largely Shut Out of Obama Tax Compromise

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I take exception to your statements Carl Most of us seniors worked hard and paid into the system. We saved our money and lived below our means. We did not buy things like cars and houses that we could not afford. We paid for our education and helped our children as well. We did not expect the government to pay for it. Unlike todays generation that thinks the government should provide everything for them. Most of us DO exercise daily. I am sure you know all about the all-you-can-eat buffets. Look at the overweight people bellying up to the buffets. They are not seniors they are probably more your age. Of course you would like the stimulus. You expect the government to take care of you from cradle to grave.
Just a self sufficient, hard working, patriotic American military veteran.

Tom Joseph of TN 12:25AM January 06, 2011

Seniors must be among the chief beneficiaries of continued low rates – 15% – on dividends and long-term capital gain. With interest income hard to come by, a tax hike on dividends would have been an especially painful blow.

JLM of NH 9:52AM December 15, 2010

I wish it was just health premiums that were going up, but my local taxes have now exceeded my federal taxes. Now electric bills are also increasing, not to mention fuel costs. I am doing worse financially than I did when I retired in '96.

bev riley of PA 9:24PM December 08, 2010

Retirees got it good, very good, so quit complainting about your pain. You wouldn't have so much pain if you exercised daily and quit going to all-you-can-eat buffets. Retiree health care costs will bankrupt all of us.
The Social Security retirement age will not change for current retirees or probably for anyone over 40.
I love the idea of this stimulous going to only to workers earning wages.

Carl of IL 7:12PM December 08, 2010

If you're going to advocate for retirees to have gotten a COLA because of rising healthcare costs that are a greater part of a senior's budget, then you also have to address the huge COLA they got 3 years ago because of high energy prices and the obscene push it gave to food prices. Did that COLA also accurately reflect the cost of these items in a senior's budget? Or maybe they should have gotten a lower COLA then.
I have a funny feeling that everything is evening out.

Jimmy of NY 12:09PM December 08, 2010

We have just seen the newest implementation of “Shifting the Pain” of the Federal deficit and extending tax cuts.
Retirees are left wondering just what the next steps will be for the Republicans who agreed to a reduced payroll tax for one year and reduced taxes for two years for all but kept the double taxation of Social Security retirement income.
Retirees are left pondering if the Deficit Commission's proposals to increase the deductible on the Medicare, Tricare, and FEHBP health insurance coverage from $155/person to $3,000/person ($6,000/married couple) will be heartily embraced and pushed for enactment by the Republicans.
Retirees are left pondering if the Republican Party proposals to extend means testing of Social Security retirement or to extend the Social Security retirement age so popular with Rep. Boehner, Rep. Ryan and Rep. Cantor will be heartily embraced and pushed for enactment by the Republicans. .
Retirees are left pondering if the Deficit Commission's proposals to eliminate the itemized deductions for medical benefits while their health care costs are increasing will be heartily embraced and pushed for enactment by the Republicans.
Retirees are left pondering if the Deficit Commission's proposals to reduce military retirement benefits increase will be heartily embraced and pushed for enactment by the Republicans.
Retirees are concluding that they are being asked to absorb significant increases in health care, see their Social Security retirement benefits reduced, see military retirements reduced for those who served, and have to work longer for Social Security benefits or military retirement benefits while everyone else enjoys the Federal Deficit party.
In short, retirees don't see a lot of "sharing the pain", but they do see a lot of "shifting the pain".

ThoseWhoServe of FL 9:30AM December 08, 2010

Maybe DeeToo is a little ahead of himself. Let's wait & see what the new Congress does to spending. If they don't dramatically cut spending then DeeToo is right to be upset. On the other hand, if they do cut spending will he be among those who will scream bloody murder when his ox gets gored? I agree it will require both spending cuts and increased tax revenues to get us out of the hole that 10 years of out of control spending has put us in.

Bbrain of NH 7:26PM December 07, 2010

Is your article trying to create a wedge issue maybe?????? Nice try.
I am old, and find no problem wth not having a "break" for retirees. Most retirees have "passive" income, and that already has a friendly tax treatment. Or - they are living on Social Security - subsistance level, so are also not being heavily taxed anyway.
I think the current legislation is shameless pandering to an electorate who thinks we don't have to pay taxes and somehow will still repay the debt. You don't have to be an economist to figure out the math on that doesn't work.
They should have let the Bush tax cuts lapse - FOR EVERYONE. Minimal impact individually, large impact on the deficit. The GOP likes to talk about "fiscal responsibility", but they seldom practice it. They got us into this hole. Unfortunately - the public has too little understanding of numbers to see what is happening, and the Dems are without leaders who are willing to stand up for what is right. Ireland s cutting back. England is cutting back. So is Greece. We are in the hole, and should cut back spending too as well as raise mor taxes.
Which politician has the spine to do it? Apparently none....

DeeToo of SC 6:59PM December 07, 2010