The drumbeat against Social Security continues

[jtuck004]

This story, which appears under a variety of headlines in papers across the country this weekend is just one more notice of the bipartisan push to rid ourselves of one of our oldest and most treasured progressive programs. Completely ignoring the testimony to the Catfood Commission of noted economist James K. Galbraith here that clearly shows how mythical numbers have been manipulated to show the "need" for pulling the rug out from under senior Americans during the most vulnerable time in their lives.

Are people living longer? Sure seems so. Does that mean they should, or even can, work longer, or are less vulnerable when they are 65? No, with certainty. These good people, our neighbors, are supposed to become sophisticated enough to buy and sell stocks for their own account in a market which is clearly designed to benefit the wealthy. Does anyone seriously want to argue that seniors are treated fairly in the workplace? The unemployment rate for people over 55 is higher than it has been since 1948 here. We may well be looking at double-digit employment for another 10 years, so raising the unemployment age merely insures more years of poverty for millions of Americans. And for those lucky enough to have some sort of retirement, how many underfunded pension plans do we need to hear about?

People who we have elected to comfortable posts in Washington need to rethink this horror they are about to visit on millions of Americans. If you are under 55, please remember these people who are in office today. They may be impacting your life 10, 15, even 20 years from now in ways you cannot imagine.


"Bolding" mine...


"WASHINGTON – Young Americans might not get full Social Security retirement benefits until they reach age 70 if some trial balloons that prominent lawmakers of both parties are floating become law.
...
“There are some incredible ramifications to raising the age,” said Barbara Kennelly, president of the National Committee to Preserve Social Security and Medicare. “Not everyone can work until they’re 70.”

Despite such concerns, the trial balloons are firmly anchored.

Last month, House Majority Leader Steny Hoyer, D-Md., launched his in a major address to a Washington budget conference.

“We’re lying to ourselves and our children if we say we can maintain our current levels of entitlement spending, defense spending and taxation without bankrupting our country,” he said."

more here

[Systematic Chaos]

1. “We’re lying to ourselves and our children if we say we can maintain our current levels of..."

"...entitlement spending, defense spending and taxation without bankrupting our country,” he said.

Then maybe think about what is so blatantly wrong about our bloated defense budget and anemic tax rates for the wealthy, you dumb fucking choad!

[onethatcares]

24. amen from the choir.

I agree entirely with your assessment.

[napi21]

2. Years ago a simir commission met to chg. SS so it would be available

very long term. I believe it was St. Ronnie who established it. The concern then was the babyboomers retiring. Then they raised the retirement age to 67, depending on your year of birth, and also increased the contribution amount a bit from both employer & employee. It was working magically, and we had the surplus that we all knew would be required to cover the temp. surge in recipients. THEM CAME SHRUB! Remember that "It's YOUR MONEY & you should be allowed to keep it!" fairy tale? So Shrub gave it all to his rich buddies, and now we're faced with the same problem AGAIN! Nobody is talking about THAT now are they? If the younger folks don't put up a fight over this newest threat against SS, they will rue the day.

My husband & I are now both retired. He retired at 66 & I at 65, about 2 1/2 years ago. Yes we each have a 401K, but thanks to the financial crash, there's not a lot of $$ left there. We both receive SS checks becasue we both worked for 50 years & paid into it, and we're doing ok, but without those checks, we'd have enough $$ in savings to last for about 4-4 1/2 years. THEN WHAT?

Think about that everybody, and be sure to severely question the amount people tell you you should have in your 401k's when you reach retirement. Their projections are ALWAYS extremely optomistic and never include any assumptions of a major market decline.

[RKP5637]

12. We're in the same boat. Did all the right things, all the stuff one is supposed to do. SH** happens

and none want to talk or hear about that. The young people in this country had better wake up and pay attention. None goes on forever, everyone gets old, but in la la land America, many have their heads in the sand.

[napi21]

19. I guess you could say the young have their heads in the sand, but

I sure don't look at the legislators who MAKE THE DAMN CHANGES that way! I say the GREEDY always win! None of THEM believe they'll ever really NEED SS & Medicare, so let me keep MY MEY & the hell with everybody else! I vaguely recall when they increased the witholding for SS & Medicare and although I wasn't making a lot of $$ at the time, I think the increase took less than $2.00 out of my paycheck. I don't even remember complaining about it even though we were living pretty much paycheck to paycheck at the time. Something has happened to the majority of the population since then! All anyone cares about is today, next week or the coming year, and the hell with any time beyond that. GIVE ME EVERY PENNY NOW! It's pretty sad & I'm glad I won't be around to hear them 20-30 years from now, when they're all bitching about "working all those years and now I have NOTHING!"

BTW, the reason I mentioned the lawmakers is becasue THEY will NEVER have to worry about SS because they're all either already too old, or too rich to GAS!

[RKP5637]

21. Yep, absolutely true, and the way we're headed many, many will be living under

bridges and in tents in 20 to 30 years from now. This country is burning through everything and I really seriously think many don't give a damn.

You and I were born not too long after the Great Depression and those thoughts lingered in the generation before us. Many today have only really seen good times for the most part, they haven't felt the financial pain many felt during the Great Depression. The big difference this time around is much of wall street, many banks and the extremely wealthy have gotten by unscathed. They are all ready to go for another round of greed.

When we were born many were into sharing and common goals, today, it's all about ME ME ME. I view this as a very unhealthy country for the future, I too am glad I'll be gone 20-30 years from now.

[tomp]

3. and the drum beat for the failed obama adminstration...

...continues on du.

[RKP5637]

4. This ridiculousness assumes people just don't want to work, are lazy, whatever. The

BS NEVER ceases to amaze me. How about the failure of WorldCom and Enron, and similar. These dumb F'ers never want to talk about that... And anyone stupid enough to think the markets will always be up is a damn fool. And some have lost millions in incentive stock. And for many 401k's have been a bust.

If this country falls for this crap, then I doubt its future... Oh yeah, we have zillions of jobs, these old F'ers just don't want to work. What unmitigated Bull Shit. And BTW, as these idiots don't realize, many have health problems.

[Lasher]

5. They want to renege on the Trust Fund bonds.

That's what this is all about.

[Greyhound]

11. I am pleasantly surprised to see so many that get what this is really about.

What is the most common term of a these Treasury bonds?

Now count backward and look at when the looting began and how it accelerated and there's your answer right there.

The fucking bills that fucking Raygun & Co. charged up on our backs are coming due and will continue to accelerate, as did the looting, and they know there's no way in hell they can pay them without collapsing the dollar.
:thumbsup:

[Greyhound]

6. A sad K&R. George was one of many that tried to tell us...

"They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that . . . that doesn’t help them. That’s against their interests. That’s right. They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting fucked by a system that threw them overboard 30 fuckin' years ago. They don’t want that. You know what they want? They want obedient workers . . . Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your fuckin' retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it . . . they’ll get it all from you sooner or later cause they own this fuckin' place. It’s a big club and you ain't in it." - George Carlin
:kick: & R

[laughingliberal]

8. +1000 nt

[RKP5637]

13. And well said, George!!! n/t

[Lasher]

20. Exactly right.

How sadly we miss ye, George.

[laughingliberal]

7. The people who think working until 70 is just dandy are, obviously, in some pretty cushy jobs. nt

[Greyhound]

10. Or are too young to have a realistic concept of 70. n/t

[Morning Dew]

18. I'm only 53 and won't get full SS until 66 and a half....

but I'll be lucky to stay healthy enough to hang on in the workforce until 62 - and that would get me about 72.5 % of SS.

[Rex]

9. A yeas...entitlement spending, only it is focused at the POOR

and working class and NOT at the RICH (like the idiots in charge that write policy). Congress will destroy this country, just give them enough time.

[RKP5637]

15. And what amazes me is this country is ignorant enough to elect them into congress. This is

one amazing place.

[tech9413]

22. That phrase "entitelment" pisses me off to no end

It's not an entitlement when you pay into it your entire working life. Cudos to the Frank Luntz crew for selling the idea that what you paid for is an "entitlement". I never had the chance to collect on UI even when I needed it. At that time, the pay was a cash packet with a listing of the hours, pay and deductions for SS and UI. I found out much later the employer stopped paying those contributions when I let him know I was moving back home for another opportunity.
I only found out because that opportunity was a complete bust because they were not willing to invest is growing that part of the business.
I was lucky enough to get through the hard times on PA for a few months and got a job with a local electronics repair shop.
I guess it all balanced out but I think it is reprehensible to call UI or SS an entitlement. We pay to support it on the chance that we might need it.

[Vinca]

14. Hope they plan on reopening the poor farms.

[dana_b]

16. me too

and maybe I'll see you there! :hi:

[FBI_Un_Sub]

17. OIL WAR SURTAX

Much of our military spending goes to pay for "power projection" to "protect" our overseas sources of oil. Estimates are that this is about $2.00 per gallon (Michael Klare, Matt Simmons).

Now for SS. Interest and dividends are NOT subject to FICA. They are paid disproportionately to Reagan's and W's "protected" people. Tax interest and dividends for FICA.

FICA is capped at $106,800. This protects Reagan's and W's "protected" people. Tax all income, both above and below $106,800.

[Mimosa]

28. ITA: "Tax all income, both above and below $106,800."

That would make sense!

[eridani]

23. "aintain our current levels of entitlement spending, defense spending and taxation without

-- bankrupting our country." True. So how about raising taxes on the rich and cutting defense spending.?

[jillan]

25. 70????? Why not raise it a little at a time. Like to age 63 for people

40 - 50. Age 64 for people aged 30-40.... something like that.

70 is too extreme. This is bullshit.

[4_TN_TITANS]

26. Between my parents and in-laws

only my mother could stand a chance of working to 70. 3 out of the 4 were disabled long before 65. People might be living longer but usually not in a condition to continue working past 65.

[Mimosa]

27. The couple of years after katrina ate through our pitiful savings

What the hell is wrong with taxing the rich and stop wasting money on wars?