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To: glockmeister40
He said those over 55 will be left alone. Under 55, your benefits will be cut.

When did he say that ?

8 posted on 02/05/2005 6:15:10 AM PST by in the Arena (James Wayne Herrick, Jr. Captain/US Air Force - MIA - Laos - 27 October 1969)
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To: in the Arena
He said it by saying if you are 55 and older, your benefits will stay the same. If you are under 55, you will definitely be taking a hit. In this age bracket, even if you can get into a pra, you will still be losing. Under 40 and you're pra will be able to make up for it.

Even it I took early retirement at 62 and got $900 per month, that means I would be commanding an ss account worth approx $270,000 (at 4% intr). It would be difficult for me to save 270k between now and age 62, above and beyond my maxed out 401k. I would be loosing.

My strategy is 1/3 retirement income from ss, 2/3 from 401k.

11 posted on 02/05/2005 6:28:49 AM PST by glockmeister40
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To: in the Arena
Bush's program only benefits those under 55. This program would get more support if it was a program that was not costing trillions to implement and the way to do that would be to take out more in contributions for those who opt in to this "savings"program that way the 55 and over crowd wouldnt have to subsidize the TRILLIONS in taxpayers money that it will take to pay for this program.

No one has talked about the trillions it will cost and the taxpayers money to subsidize this program and if you say it wont cost the taxpayers thats foolish because in the long run if he borrows the money than the children and grandchildren will have to pay for it. Otherwise how is the money going to be repaid?

He talked about wanting to secure something for our children and grandchildren well raising the deficit by TRILLIONS will be leaving one heck of a legacy to those children and grandchildren wont it? And dont pull the spoken-like-a-liberal card because conservatives do not want their taxes raised to support a program costing that kind of money, nor do conservatives want spending out of control or larger government of which this program is! Additional contributions by those who will benefit is the fair way to go and than it will not cost trillions to implement.

18 posted on 02/05/2005 6:45:26 AM PST by stopem
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