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Red Steele
Senior Contributor

Double Dipping

Let's end all the double dipping. If someone is collecting a government salary or pension...no social security.

 

Farm program support payments....no social security too.. Retire and collect the social security if you want, but let some young guy run the land and make that money.

 

if you want to retire, fine...retire. If you want to work, work and wait for the government check.

 

Might make a dent in this mess.

48 Replies
kraft-t
Senior Advisor

Re: Double Dipping

While you are doing your expounding you might consider that the double dipper just might be drawing SS and  FSA payments while at the same time paying income taxes and SS taxes. Yes indeedy, I know all about that.

 

The governor of Iowa is collecting a government pension, a salary as governor, and he is paying federal and state income taxes as well a Fica taxes.

 

We will see if your mind changes when you get to retirement age.

schnurrbart
Veteran Advisor

Re: Double Dipping

Apparently, he is NOT drawing a gov pension.  He retired from a non-state university according to one of the repubs here.  Therefore, if that is true, he isn't double dipping into gov. pensions.  I don't know if Des Moines University is a state run school or not.

schnurrbart
Veteran Advisor

Re: Double Dipping

So, what about the farmer who doesn't have a couple 1000 acres?  I know you don't consider them to be "REAL" farmers but who cares what you think.  Why shouldn't they get both if they wish.  I know some who only received about $780/YEAR.  Now that would really be something to have to give up SS to get that huge amount.  Why should I have to give my SS because I retired from the Army and the Post Office.  Didn't I earn those pensions.  I also paid into SS except at the PO.  I would have been happy if they had just given my contributions to SS back and called it even.  I got a better idea.  Let's just cut the farm subsidy and let all the farmers make it on their own or fail.  None of them are too big to fail are they?

GreaTOne_65
Senior Contributor

Re: Double Dipping

Before I retired, my landlords couldn't recieve any of that money from counter-cyclical, or any of the rest? The farm payments went only to the guy doing the actual farming? As it is now, I am not entiltled to the farm payments. SS, and land rent, and pay taxes on that. So I don't know what you guys are bi**hing about.

idalivered
Advisor

Re: Double Dipping

I hope that this suggestion was just to provoke dialogue, here. what seems like a good idea (at first) , is full of inconsistencies. First, it would kill any share rental agreements. Also, How about the people who have pais into both? why should they have contributed to a system that they have no hope of using? If you collect rent on the farmland you own, effectively your retirement, should you forego S.S.? I respect you red, but this is possible the silliest proposal i've heard.

Samnospam
Advisor

Re: Double Dipping

I think its too late to even worry about it. We're over the edge, now we just wait for the impact. No one wants their bit of gravy taken away, soon there will be no gravy. Did you hear the (r)s booing when rand Paul said there would have to be cuts to defense spending? The debt is already too high, inflation too great, interest rates have to go up, debt service will suck up the federal governments revenue. It's that or continue to print money that leads to a worse outcome.
KNAPPer
Senior Contributor

Not Really Dipping a'tall...

What seems like a good idea or somehow "fair" is actual a baseless bad idea. First, if someone is not allowed to collect the SS they paid in, they should not have to pay into the system. Even billionaires paid in and they should get their tiny SS incomes. Second, this would not amount to squat unless you start hitting people who earn $30-40 K per year. Third, contrary to popular belief, Social Security has nothing to do with the budget deficit. Social Security is also fine for the next 35 years before the number of people that pay in are exceed by the number of people that collect. This has been known for more than a decade and maybe two or three decades.

 

We don't seem to be able to concentrate on the real problem of the deficit and keep getting side-lined by "hot topic" issues like this. In case anyone here does not understand, the deficit is a budget deficit. Social Security is not part of the US government budget. It is not budgeted by the President or Congress, so little maneuvers like this will have zero impact and will rob people of the SS money they paid in and deserve to collect. There is also talk about cutting SS for wealthy people and I fail to understand how cutting a few thousand dollars from 2% of the American public will help people in the SS pool, tax payers or even remotely affect the deficit.

 

Please correct me if I am wrong on any of this, but I am basing what I say on the information I heard from several economist.

tomtoolbag
Veteran Advisor

Re: Not Really Dipping a'tall...

  I agree with you Knapper. The only way SS has any effect on the budget is interest that has to be paid on the funds to make up the difference in the income-outgo because the funds have been pilfered to pay for or fund past pet projects.

  But, this issue gets people fired up and it's based wholly on ideology instead of rationality, and with that mode of repeating BS, facts get left by the wayside. 

Samnospam
Advisor

Re: Not Really Dipping a'tall...

You might be somewhat correct in a technical way, but in practicality you are flat out wrong. The money that was supposed to be put into the ssi trust was labeled revenue by the federal government and spent. Now the ssi trust has a revenue deficit and the federal government not only has to fill that hole that it used as revenue but it has to start paying back the ssi trust.