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Social Security COLA rant :(
#1
So, us old guys, your grandparents, got a SS increase of 2% for 2018. Wow. every one will hear about that. What you don't know, is Medicare premiums go up $25 per month. They are prohibited from raising premiums more than benefit increases, so they do raise premiums to the increase. I end up with a whole $13 per month in 2018 compared to 2017, not even a decent bottle of wine. Thanks for nothing. OH. Yep. You are right. It is an entitlement. An entitlement I did pay into for 57 years. NLM
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#2
I feel your pain, and nobody seems to give a Rats Derriere about we whom paid into it all these years. I don't feel like doing the math right now, but I'm paid into this for a similar number of years. They are busy handing our money to people that have never paid in, but we are the entitlement people? 
Counting down now, this thread will either be deleted or locked soon........
Doing the Van thing since the early eighties.
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#3
Sorry guys, BUT it is and always was a Ponzi Scheme. You paid for the retirees while you worked, now we pay for you; BUT there are many fewer of us and many more of you. There is no "trust fund" congress critters looted it long it ago and replaced the money with IOUs. Social Security is unsustainable and eventually must end or crash and burn. We already must borrow heavily to fund it. I am sure that people of my generation, early 50s in age, will not get social security at all.
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The following 2 users say Thank You to wanderingfreeman for this post:
velojym (12-10-2017), frater secessus (12-10-2017)
#4
Isn't it staying $134 per month for 2018? I've seen the news articles but don't see the increase on the Medicare website.

https://www.medicare.gov/your-medicare-c...costs.html

The explanation is here:
http://justcareusa.org/whats-the-medicar...m-in-2018/
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#5
SS has a trust fund. SS is not funded by US Deficit. SS was forced to invest in US Treasury bonds. This was to keep your income taxes down. Were US Treasury Bonds a bad investment? If all, the rich as well as the mid-class, would pay their fair share into the system there would not need be this hate directed to grandparents.
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#6
(12-10-2017, 07:10 AM)wanderingfreeman Wrote: Sorry guys, BUT it is and always was a Ponzi Scheme. You paid for the retirees while you worked, now we pay for you; BUT there are many fewer of us and many more of you. There is no "trust fund" congress critters looted it long it ago and replaced the money with IOUs. Social Security is unsustainable and eventually must end or crash and burn. We already must borrow heavily to fund it. I am sure that people of my generation, early 50s in age, will not get social security at all.

It's a Pay Go system, which is different than a Ponzi Scheme. Once the Trust Fund is depleted, it will pay out what comes in. One report has this future amount at 79% of today revenues (if nothing is done). Social Security will be there for you.

https://www.ssa.gov/policy/docs/ssb/v70n...3p111.html
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#7
(12-10-2017, 08:20 AM)Weight Wrote: SS has a trust fund. SS is not funded by US Deficit. SS was forced to invest in US Treasury bonds. This was to keep your income taxes down. Were US Treasury Bonds a bad investment? If all, the rich as well as the mid-class, would pay their fair share into the system there would not need be this hate directed to grandparents.

The Trust Fund doesn't invest in Marketable Treasuries. It invests in Special Issue Treasuries. Marketable Treasuries would have been a better deal.

https://www.investopedia.com/ask/answers...vested.asp

https://www.fedsmith.com/2012/06/22/soci...ted-bonds/
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#8
I decided long ago that I would not rely on Social Insecurity.
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#9
Guess I look at things differently...I’ll still receive more than I did before the raise. Smile
Bob
2016 Ford Transit 2500, 130" WB, Mid roof
Full time since Aug 2016
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#10
(12-10-2017, 08:20 AM)Weight Wrote: SS has a trust fund. SS is not funded by US Deficit. SS was forced to invest in US Treasury bonds. This was to keep your income taxes down. Were US Treasury Bonds a bad investment? If all, the rich as well as the mid-class, would pay their fair share into the system there would not need be this hate directed to grandparents.

Treasury bonds (along with printing money) are funding the deficit.
 -- Spiff


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The following 1 user says Thank You to Spaceman Spiff for this post:
wanderingfreeman (12-10-2017)


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