My mother in law is currently living in a nursing home and is paying out of pocket. If she lives longer than her financial resources then it will be Medicaid. My father has Alzheimers and will likely need nursing home care in the future. My folks have long term care insurance but that only covers two years, that's all they could afford. After that it will be Medicaid. I would gladly take responsibility of caring for my own, but my ship would sink almost instantly as would most middle class families.
The world is a ghetto
Mine seemed smaller too! I earned 3 hours less than my last check, but my taxes went up $7 from last check. Which doesn't seem like a whole lot, but I felt it. Social security is what went up significantly
You are also correct but there would be plenty of money if our Government wasn't a criminal enterprise.
Example: my mother died at 36 yrs old & worked two & three jobs her entire working life even though she had a high paying main job. But her Social In-Security wasn't given to her or even me to help with college & life. I ended up homeless & never received a dime of entitlement money but I (with my Girl Friend now Wife standing by me)worked my way to where I am now anyway.
Im sure there are many cases like this which would add up to allot of Stolen Funds.
All Government is the same, all levels abuse the tax base & want more & more no matter what they take involuntarily by force from the citizens.
Got my paycheck today. Almost $30.00 lighter. :mad:
Thanks O for not raising our taxes. :mad:
I'm seeing a very measurable decrease...........
The risk is spread among the pool. Some win, some lose. Drive safely and you will be supporting the
folks who don't.
Your mom is an example of why the SS retirement age must not be raised and needs to be lowered back to 65.
Raising it too high, or dinging the benefits for retiring at 62 too severely, does hurt many who have reached a point where
they can't work very severely.
Social Security would be in good shape if we could delete the drug addicts and alcoholics from the roles. Oh, and also those who have "neck and back pain" but work construction under-the-table. It was never meant for that, but has morphed into the usual government run boondoggle.
Lets not forget the debt owed to the fund by the Feds, and that is never mentioned by the Feds when addressing the upcoming deficit projected starting this year. Social Security excess funds were used by Clinton to balance his budget and Obama is presently using Medicare funds to hide/offset the ever increasing costs to implement Obamacare, but never admits to the fact that his programs are stripping funds from Medicare.
* As of December 31, 2011, the U.S. government owes $2.7 trillion to the Social Security Trust Fund not to mention the lost interest on the $2.7 trillion that could have been earned. This equates to $8,565 for every man, woman, and child living in the United States or $22,572 per household.
Isn't also odd that our government fails to mention the fact that 100's of millions of people have paid into the system only to see their investment be distributed by the feds to a select group of people who have never paid a dime into the fund.
It is becoming more evident each and everyday to all Americans, to include his own democrat party and supporters, that we have a government spending problem and not a revenue problem as claimed by Obama and his administration.
I'd gladly opt out of social security if the government would like to refund my money...I'll even take it back without interest.
They'd never hear another thing from me. We have 401's and other retirement, we can fend for ourselves. Heck, just give us 1/2 of what we've paid in and we'll call it even.
Thing about the 4.2% vs 6.x% is the 4.2% much more closely resembles (but still doesn't match) what I'll be receiving in return as the SSA tells me I can expect to receive 75% of the benefits to which I'm entitled.
My dad paid in his whole life and never took anything out. When he died a couple years ago at 52 my mom got back $255. That was it. At least money you put into a retirement yourself stays in your family...
I'd gladly opt out of social security right now even if they won't refund my money. I'd be happy just NOT paying it.