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hobbyfarm2145365
Senior Contributor

Re: Double Dipping

4wd,  I ask that because I know that DP are reported asa income but can find anything on crop ins whether the govt supported portion is  taxed as income.?      I don't dispute meeting your contractual obligation on govt support but with commodity prices we have now shouldn't the support payts  be terminated now     I believe the farm support should consist of one sentnce govt aid provide for weather  relayed  problems and the support is paid on county average yeilds.   If a farmer  wishes to carry crop ins protection its his responsibility to pay for it.   All land conservation is respondibility of land owner or renter or both.   All tiling or water way  work would still remain under state /local control for obvious reasons. 

kraft-t
Senior Advisor

Re: Double Dipping

Because the crop insurance subsidy is not  a cash payment to farmers. It is paid directly to insurance companies and they declare that income on their tax. If it were a cash payment to farmers they would show the subsidy check on the income side of the balance sheet and would show the same money as an expense as it is spent to buy the insurance.

dagwud
Senior Contributor

Re: Sir, you need to wake up and smell the coffee.

Knapper, "The cost to a state government is the same whether or not a person already drawing retirement is hired in a position or a person who has never worked for state government is hired in a position."  

 

 

Knapper I have to disagree with you and Don's thinking on this one.  I have to think that by allowing this it encourages many state workers to retire early with the intent of getting hired back so they can draw both a pension and a salary.  I'm thinking most of these folks had no intention of retiring for good but have simply learned how to play the system to get more money.  By not not allowing double dipping I'm guessing most of these people would have continued working for the state so we would still have their years of experience and expertise.

 

 

I'm also thinking double dipping increases the state's health insurance costs as they are buying insurance for older workers that had they actually retired then it most likely would have been a younger person filling the state job that would qualify for a lower insurance rate. We all know that employee health insurance benefits are a major factor in labor costs for all employees including states and municipalities.

schnurrbart
Veteran Advisor

Re: Sir, you need to wake up and smell the coffee.

You're thinking this but do you have any idea of what kind of number you are talking about?  Most places that I have ever heard about, retirement comes with at least 5 yrs. service and be age 62 or 60 and 20 years service or 55 with 30 years service.  Just because you "think" that this happens, doesn't make it so.  I'm sure that maybe a few decided your way but I would imagine like a lot of people, they retired and learned that they needed more money to live on and went back to the company they knew.  Studies show that when a worker in a state that allows age based premiums most of the older people take less coverage to keep the premium down.  Every place that I have worked or have heard of or dealt with, the employer's part remained the same and they just required the worker to pay more of the premium so the employer's cost never went up for older workers.

kraft-t
Senior Advisor

Re: Sir, you need to wake up and smell the coffee.

My question is have they earned what they receive?  These people may return to work because they are bored with idleness. I doubt that Branstad is in it for the money. He could make more elsewhere and still draw the pension.

 

It's not unusual for retired folks to seek employment to supplement their retirement income. I fail to see what wrong with that. Especially in this day and age  investment losses.

dagwud
Senior Contributor

Re: Sir, you need to wake up and smell the coffee.

Yes, by current rules they have earned what they are receiving.  However it appears to me that past concessions made to the public employee unions has allowed the practice of double dipping to become easier as is born out by the fact that we now have over 7000 state workers doing it in Iowa which is a lightly populated mostly rural state.  I can't quite figure out how it is less expensive for a state to have a sizable and quickly growing percentage of their work force drawing two pay checks. 

 

 

I am a big fan of elderly folks continuing to work if that is their wish.  I think it helps fight off old age and dementia, keeps them active and healthier plus feel they have a lot to offer.  Not to mention they are better at counting back your change then teenagers.  Smiley Happy

Red Steele
Veteran Advisor

Re: Not Really Dipping a'tall...

anyone that has kept any amount of money in those safe government insured CD's over the last couple of decades has paid dearly in an inflation tax...the purchasing power of those dollars plus interest has not even remotely kept pace with inflation. You are probably a net debtor so inflation doesn't bother you...in fact it makes those dollars you owe much easier to pay back.

 

Face the facts, the money has been spent on crap, it is gone, it ain't coming back. A few IOU's signed by a virtually bankrupt government doesn't change anything....certainly doesn't create trillions of dollars of wealth to distribute. The only thing that it does insure is a probable demand for ink and paper to keep the printing presses running.

 

China is not increasing its holdings of US Debt...what do they know that you don't know?

kraft-t
Senior Advisor

Re: Sir, you need to wake up and smell the coffee.

How is it more expensive? The pension is earned and deserved. The wages are earned and deserved. What does it matter if the  experienced retiree take the job or a new applicant?

 

 

For some reason you object to people collecting both even though both payments are earned and deserved. What do you attribute that to. Dislike for public employees or petty jealousy.

kraft-t
Senior Advisor

Re: Not Really Dipping a'tall...

Your hopeless. If you kno anybody that is certain his government bonds will not pay off, tell them to send them to me and I will take a chance on them. That is the main reason you guys want to kill SS so that you can reneg on the repayment.