I just read on CNN that Greenspan is suggesting that Social Security Benefits for future retirees (meaning US) should be reduced because of the budget defecit. Meanwhile, our budget is in defecit b/c of the decrease in taxes to the rich. But he says, don't worry about increasing taxes, just decrease benefits.
I KNEW this was going to happen
This is just fabulous- we don't get $ we have paid into the system with- yet people making 1 million a year or more are receiving tax cuts.
What really pisses me off are people who vote for Bush and have no idea what really is going on because he is pulling the wool over America's eyes..
President Bush would be very very happy (and so would his crony Karl Rove) if we went back to the 1920s- no social security, no unemployement, no medicare, no nothing.
It's really really sad.
These are the issues we need to vote on. What's done is done in Iraq- I don't think anyone is going to pull our troops out of there now. But what about our economy? It's going into the toilet while we are busy watching CNN's Iraq reports!!!
ChristineC68
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Re: I knew it! Thanks Mr. Greenspan!
Posted by Sassyz75
I KNEW this was going to happen
This is just fabulous- we don't get $ we have paid into the system with- yet people making 1 million a year or more are receiving tax cuts.
I knew also. I just reconcile the fact that my SS & Medicare withholdings are going to my grandmother & mother directly.
Our pension plan company presented us with articles a couple of years ago that predicted social security benefits would dry up when I turn 63
Sadly, we are on our own right now for retirement
NYCHICK
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Re: I knew it! Thanks Mr. Greenspan!
well you know when Greenspan talks the world listen...man that's power. I never planned on it. I have set up my own retirement. Just insanity..........
ChristineC68
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Re: I knew it! Thanks Mr. Greenspan!
Posted by NYCHICK
well you know when Greenspan talks the world listen...man that's power.
Isn't that the truth?? It's so funny when you compare Greenspand to say PDiddy. PDiddy with his giant entourage & security guards. Greenspan walks around and people watch to see if his brief case looks heavier then usual because that indicates a change in interest rates which will effect the stock market.
Sassyz75
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Re: I knew it! Thanks Mr. Greenspan!
and the sad part is, he's not even an elected official- he has no right to suggest policy!
It's so funny when you compare Greenspand to say PDiddy. PDiddy with his giant entourage & security guards. Greenspan walks around and people watch to see if his brief case looks heavier then usual because that indicates a change in interest rates which will effect the stock market.
I love to watch CNBC in the morning before he speaks...they go nuts trying to predict what he will say!!
on a serious note...It was bound to happen...maybe after the baby-boomers are all gone - it will fill in for us?
but truth be told...SS is only a supplement...everyone should be planning for retirement even if SS was guaranteed to us...
ChristineC68
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Re: I knew it! Thanks Mr. Greenspan!
Posted by yabbobay
on a serious note...It was bound to happen...maybe after the baby-boomers are all gone - it will fill in for us?
but truth be told...SS is only a supplement...everyone should be planning for retirement even if SS was guaranteed to us...
This was my speech to every young person in my office when we finally got a 401k plan.
I think I am personally responsible for 3 extra people contibuting something to their 401k plan way back when. It's so available and important.
They are finally relaxing the guidelines for contributions so that just about every one can contribute the maximum annual amount per year with allowances for lower income and older employees to maximize their retirement plan.
wacky
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Re: I knew it! Thanks Mr. Greenspan!
Then we shouldnt have to pay as much in taxes.
PrincessRose
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Re: I knew it! Thanks Mr. Greenspan!
I swear he's no relation to FH.
Don't call us!
verdila
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Re: I knew it! Thanks Mr. Greenspan!
Sadly we are on our own for retirement which is pretty scary. However, you can hardly say that Social Security can cover most people's retirement comfortably.
IMO- I think that people who make too much money should give back their SS so people who really do need it should get the full amount.
NYCHICK
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Re: I knew it! Thanks Mr. Greenspan!
Posted by verdila
IMO- I think that people who make too much money should give back their SS so people who really do need it should get the full amount.
That is soooooooo wrong! WHo is to say someone is making TOO much money???????
Diane
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Re: I knew it! Thanks Mr. Greenspan!
I agree, regardless of how much you make, everyone is entitled to their SS. I agree, I think we are in deficit due to increase of taxes, and unnecessary spending of our funds. We are working our buts off so we can be secure for when we are unable to work, and now it is being taken from us
IMO- I think that people who make too much money should give back their SS so people who really do need it should get the full amount.
That is soooooooo wrong! WHo is to say someone is making TOO much money???????
I agree...you pay in - you should get back...
including our generation...
cluelessbride
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Re: I knew it! Thanks Mr. Greenspan!
Do you think the government would seriously not give us back what we put in to SS? I mean, I could see them saying that we can't have MORE than what we put in, but not to give us our $$ back - christ, they are making crazy interest!!! (or do they make interest? doe the gov't give itself interest on its own money?)
Do you think the government would seriously not give us back what we put in to SS? I mean, I could see them saying that we can't have MORE than what we put in, but not to give us our $$ back - christ, they are making crazy interest!!! (or do they make interest? doe the gov't give itself interest on its own money?)
the money isn't sitting around earning interest...it goes nearly directly to the people collecting SS...
the first elderly citizens to recieve it in the 30s...never paid in...thats where the equation is unbalanced...so now that the baby boomers are nearing retirement the strain may be too much for the working folks...
Diane
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Re: I knew it! Thanks Mr. Greenspan!
Posted by yabbobay
Posted by cluelessbride
Do you think the government would seriously not give us back what we put in to SS? I mean, I could see them saying that we can't have MORE than what we put in, but not to give us our $$ back - christ, they are making crazy interest!!! (or do they make interest? doe the gov't give itself interest on its own money?)
the money isn't sitting around earning interest...it goes nearly directly to the people collecting SS...
the first elderly citizens to recieve it in the 30s...never paid in...thats where the equation is unbalanced...so now that the baby boomers are nearing retirement the strain may be too much for the working folks...
I know, this is so UNFAIR
Sassyz75
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Re: I knew it! Thanks Mr. Greenspan!
especially when we are spending on wars, some shady marriage program, and then cutting taxes.. I wouldn't be surprised if Bush did this on purpose- pumped up the defecit before the boomers retired.
he has been known to say that the poor make themselves poor..
well...I think it is more Cheney who is in favor of a large deficit...he said something like 'reagan had one' -
'Haven't we already given money to rich people,' Suskind says the president uttered, according to a nearly verbatim transcript of an Economic Team meeting he says he obtained from someone at the meeting, 'Shouldn't we be giving money to the middle?'
