Recently posted as headline on Newsmax.com
Well of course it would be cut, they will have a part of what they would have got in a savings account somewhere. Where is the news in this?
posted on 01/04/2005 12:50:11 PM PST
the monthly promised benefit of $2,032 would be cut by 45.9 percent to $1,099 a month.
Ummm...someone needs to invest in a calculator.
My wife and I both hope we can get our money out of this ponxy scheme. We woulf love to invest it our way. And yes we are investing and planning a retirement based on the assumption that SS will not be there.
posted on 01/04/2005 1:04:03 PM PST
(Never underestimate the power of human stupidity--Robert Heinlein)
One would hope the old would be cut as they new will be two to four times more that they would expect from regular social security and taxes will not have to be raised 60 to 70% to pay for the system.
posted on 01/04/2005 1:10:57 PM PST
How about just raising the retirement age one month every year?
posted on 01/04/2005 1:49:39 PM PST
posted on 01/04/2005 2:34:37 PM PST
(NO BLOOD FOR CHOCOLATE! Get the UN-ignoring, unilateralist Frogs out of Ivory Coast!)
Even if the social security money wasn't invested, just having it in savings and building up would make quite a little nest egg.
remake the system to let younger workers divert some of their payroll taxes into personal investment accounts.
I wonder what the definition is "young" is here. I'm 46. I hope I'll be able to invest some of my SS into a private account.
posted on 01/04/2005 6:35:25 PM PST
Well I'm not disappointed, considering I don't think there should be any such program Social Security in the first place....please just stop taking my money away from me!!!!
posted on 01/04/2005 6:45:30 PM PST
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