OT - Social Security

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On Tue, 02 Mar 2004 18:50:36 +0000, Charlie Self wrote:

It's supposed to be a pay as you go program, but for at least 3 decades, excess is collected and put in the "trust" fund. Since hiding cash for long periods of time is a good way to see it evaporate through inflation, the govmint "invests" the trust fund money in govmint IOU's to be paid back with a small interest rate in the future using govmint profits (more taxes for future generations). Meanwhile, the current excess SS taxes are spent on us, now. And all this by folks who talk about all the things we must do "for the children". Worst of all, the debt in this and 40 or so other "trust" funds is counted as an asset rather than a liability! Some estimates place the amount of these "assets" at $40 _trillion_ in the next3 or 4 decades. Makes the national debt look miniscule.

It was more like 30-something to one, and the average lifespan at the time was 65, meaning the program didn't have to pay out for long.

The sad part is many otherwise intelligent folks think SS will take care of them and forego any planning/savings on their own.
If you want to go through an interesting exercise, look for your next statement from SS listing the years and amounts you have paid in. Then apply a reasonable return of say 6% for the first year, add the next years contribution, apply 6%, etc. You'll discover you could retire at 55 with about double the money SS will pay you, and never reduce the current value. Compound interest is wonderful! And if we had all done this on our own, not only would we be better off, but wouldn't be leaving trillions of debt to be paid by future generations.
All this is why I put 10% of gross away as untouchable starting about 30 years ago and have my kids doing the same. Talk about a safety net...
--
-Doug


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Doug Winterburn wrote:

Don't get tied up in the life expectancy of 65 years since that was based on 0 Years and lots of babies and children died. There person that reach 65 years old had a life expectancy of several more years.
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On Wed, 03 Mar 2004 01:22:01 +0000, George E. Cawthon wrote:

The point is the demographics have changed radically, and something will have to to be changed - radically.
--
-Doug


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Easy fix for SS. Raise the cap.
SS deductions stop at a income of 72,600
As a republican, I am against raising taxes. But that's because of a complete lack of control on politicians parts. I can't see FEDERAL funding a lot of what the fed funds now. Most things should be handled by the state\local taxes. Let the taxes be collected at the state\local level where the politicians are close enough for me to slap!
Example, we're pumping more into education than we have in US history and the children are getting dumber by the minute. That's why we homeschool. The average VA locality (with funds from local\state\and fed) spends well over $6000 per year to teach per pupil. I homeschool my daughter for $900 per year and have better results. She's 6 years old, is writing cursive better than I, is adding double digit number (46+87 and such that require her to carry over a number) and can name you the top Bush administration officials! She also doesn't like Al Gore, she says he's talks mean (even children can pick up on deconstructive speech). Is this because of curriculum, no. It's because I'm INVOLVED in her education. Most parents are more concerned about that new Suburban, boat or second house than they are about actually going to find out WHO their child's teachers are and WHAT their child needs help with. In addition, any attempt to enforce discipline in school is met by the ACLU and the aforementioned parents. It seems these parents don't want anyone doing a better job than they are. What happened to responsibility?
What does this mean? We're throwing money at a problem that money won't fix.
There IS NO SS savings account, so the whole "No Money by 2035" is misleading at best.
As is the "National Debt". National Debt is a forecast based primarily on FUTURE payments and entitlements. National debt is composed of different types of debt: debt by federal, state and local governments, international debt, and house-hold, business, and financial sector debt plus un-funded social security, Medicare and government pension contingent liabilities. It includes what we are GOING TO owe without mentioning how much we will have generated in the same time frame! Remember the PROJECTED $Trillion + surplus we had that was PROJECTED in a vacuum without consideration of the inevitable 10-12 year recession? If I rated my own debt on what I was going to spend in the next 60 years, Then I'd have a Personal debt that would invite suicide. However, if I rated my PROJECTED surplus on the rates of increase in pay I had during my BEST years, I'll be dining with Bill Gates this evening! I doubt that will happen.
The Nation Deficit is only relative when referrer to as a percentage of GDP. GDP has more than quad-drupled in the last 20 years> With out that info, a $550 million deficit seems outrageous on it's face. But when viewed next to the GDP and deficit from 20 years ago, it's actually quite benign comparatively. Regardless of the National debt being BIG as a dollar figure, as a percentage of what we produce, it's less than MANY< MANY< MANY instances in our history. It is no where NEAR what it was in 1946 (a 1.28 ration, debt was 269 and GNP was 210). It then when down over the next ~35 years and worked up to another peak ( a ratio of .72) during '94-'96. Then started down again.
Lower federal income taxes and raise the cap for SS. You'll encourage the economy and increase government revenues. Revenue is made when money is SPENT by consumers (be it business or consumer), not when money is taken by the government. If most people would sit down and realize just how many taxes are paid when they BUY something, they'd realize why. You INJECT money into the economic cycle.
I still don't see how anyone can possibly think that the government is even QUALIFIED to spend money effectively! Too much overhead and pork (on BOTH side of the aisle).
That's it for me, I've ranted myself out...
SS and Medicare increases, fine. I have no problem with that.
says...

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Bill writes:

These figures fascinate me. Have you figured in your time, your wife's time, the physical plant and similar stuff?

You got it. The last time Gore was around much she was what, 3? She's picked up your feelings.

Where do you get this? Discipline is undercut in schools because of parents, not the ACLU.
Charlie Self "There is nothing wrong with America that cannot be cured with what is right in America." William J. Clinton
http://hometown.aol.com/charliediy/myhomepage/business.html
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The
over
time,
Our time? So I have to compare it to a paying job? You seem to view it as loosing an income! We view it as living reasonably. AND we save YOU federal, state and local dollars!
Our cost is offset because we DON'T (want) need the extras that some seek. Out priorities are on our children! So we make the choice to live in a $100k house (instead of a $200k house) and drive two used cars (instead of two newer cars).
I think the cost of my childrens future is as they say...Priceless?
Cost of home schooling

picked up

No, she picked up on his moveon.org speech a few weeks back. I haven't said a thing about Gore. He's never been a factor in my life. If we were talking Bill Clinton, that'd be a different story.

parents,
Excuse me? Calling teachers every word in the book was deemed a "First Ammendment Right" because of an ACLU law suit!

right in

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Bill stutters:

If you're comparing costs, you must compare all costs to reach a reasonable basis for comparison. No one said anything about you considering it a paying job or losing time from your own work, but...ah, fergit it!

Who raised the little turds? The ACLU?
Charlie Self "There is nothing wrong with America that cannot be cured with what is right in America." William J. Clinton
http://hometown.aol.com/charliediy/myhomepage/business.html
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Not funny. I AM a stutterer.

reasonable
paying
Then I made a good comparison.

Point Taken, but who stopped the disciplinary action?
ACLU and the parents.
Hence this reinforces my point, no matter HOW MUCH MONEY you throw at the school system, you will never overcome parents that don't care to be involved. Even more so when you take away the schools ability to show any guidance and discipline in school.
Was this instance REALLY a first ammendment problem?
Do we think this is what the founders meant to become of free speech?

right in

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Not anymore. Does anybody know what it is up to this year? I wish my salary went up as fast as this!
2002 - 84900 2000 - 76200 1999 - 72600 1998 - 68400 1997 - 65400 1996 - 62700 1995 - 61200 1994 - 60600
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On Tue, 02 Mar 2004 15:25:13 -0500, Mike Schwarz wrote:

and for 2003 - 87,000
--
-Doug


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I stand corrected! Thank You

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Remember SS was split into Medicare vs SS. the medicare side has no upper limit.
Mike Schwarz wrote:

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Being a republican has nothing to do with taxes but only with being against royalty and for democracy.

That should be "better than me."
I hope she doesn't pick up those deficiencies of yours.
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Whoa, Plumy. No reason to get personal. We're simply discussing opinions.
I was public schooled, hence the erroneous grammar. Sorry to offend you. Feel free to correct at will.
And
Lower taxes are part of a republican ideology. Sorry to burst your bubble.

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norm_de snipped-for-privacy@my-deja.com (Norm De Plume) wrote:

No, it shouldn't. Recast it as "She is writing cursive better than I do" and you will see why.
-- Regards, Doug Miller (alphageek-at-milmac-dot-com)
For a copy of my TrollFilter for NewsProxy/Nfilter, send email to autoresponder at filterinfo-at-milmac-dot-com
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Are you sayun I ain't as dumm as I thawt I wuz?
That hole I and me thang always confuzed me juz like who and whoom!
Just kidding! :-)
Me do that sometimes!

and
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Bzzzzt. The correct form in this context is "than I". You can figure this out by inserting what is implied. "She's 6 years old, <and> is writing cursive better than I (write cursive)."
Mr. Language Person
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The
I believe the number is much higher than you suggest. I read a report a few months back that listed 30 or so nations, and ranked the quality of education and the average amount spent by each country per student, all referenced in US dollars.
I don't have the report in from of me, but I think it was put out by Unesco. If I recall correctly, the US spent more than any other nation, around $12,000 per student. The US placed 26th on the quality of education, somewhere behind Poland, but ahead of Romania and Mexico. The top countries were Finland, Sweden, Japan, and Canada, and the amount they spent per student was in the $6,000 range. If anyone's interested in the actual report, I'll see if I can dig it up and post a link.
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People should go up 7 posts to the one from Al Reid. I couldn't post it here. This tells you exactly where your Social Security $$ has gone. Down the democrat party Social Engineering sinkhole!
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It is higher. My sister, a high school teacher, let me know that it's closer to $8000 per pupil for county in which she teaches. She is also a member of the NEA and is thankful for "No Child Left Behind". She began teaching before it was passed by Congress and President Bush. She is also partly responsible for us deciding to homeschool our daughters. She also shot down the MYTH that homeschooled children lack in social skills. They certainly do have better social skills than the average child of the same age. Due mainly to the fact that they are exposed to adults and children with a more disciplined form social behavior. I've seen her calm down two girls (9 and 11) that we're verbally fighting and had them swinging and singing together in a matter of seconds. She will also ask friends that are misbehaving to leave!

and
over
few
Unesco.
countries
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