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BA Deere
Honored Advisor

Re: Where I`m coming from, Don

Here`s the thing GoredHusker, I`m 46 if I croak tomorrow my wife and  kids could inherit land, machinery, money and a IRA( Indivdual Retirement Account).....but all the money I`ve paid into social security is gone, phssttt!  Now someone getting a welfare check if they pass away their heirs couldn`t continue getting that welfare check phssttt! it`s gone like social security.  Now liberals would like death taxes that would also make your land and savings go phssttt! as well.  I don`t know what SS should be called, but if it was really your money you`d be able to get it early with at least a substantial penalty and your heirs should be able to redeem what you hadn`t collected.  Here`s what will more than likely happen, the gov`t will make good on it`s promises, if you`re owed $1,400/month, you`ll get $1400...... of inflated dollars.  They sent me a letter saying when I`m 67 I`ll get so much per month, if it`s still here I might buy a happy meal  Smiley Happy  So far after about 30 yrs paying in, that money has filled many a snowbird`s RV tank.  

schnurrbart
Veteran Advisor

Re: Where I`m coming from, Don

If the average worker makes $50K/yr and say he did that from the start and worked 30 years, he would have paid in about $225K and at age 67 he starts to draw $1500/mo and lives to the average age of 78, he would have collected all but about $28-30K.  Say his wife is 10 years younger, she would get about $750/mo and let's say she lives another 20 years.  They would together get almost another $200K so I would say that if you live long enough to start getting it, you will get more than you paid in.  Oh, I forgot that you are so rich that $1400-1500 dollars extra a month doesn't mean squat to you.

r3020
Senior Advisor

Re: Where I`m coming from, Don


@BA Deere wrote:

Here`s the thing GoredHusker, I`m 46 if I croak tomorrow my wife and  kids could inherit land, machinery, money and a IRA( Indivdual Retirement Account).....but all the money I`ve paid into social security is gone, phssttt!  Now someone getting a welfare check if they pass away their heirs couldn`t continue getting that welfare check phssttt! it`s gone like social security.  Now liberals would like death taxes that would also make your land and savings go phssttt! as well.  I don`t know what SS should be called, but if it was really your money you`d be able to get it early with at least a substantial penalty and your heirs should be able to redeem what you hadn`t collected.  Here`s what will more than likely happen, the gov`t will make good on it`s promises, if you`re owed $1,400/month, you`ll get $1400...... of inflated dollars.  They sent me a letter saying when I`m 67 I`ll get so much per month, if it`s still here I might buy a happy meal  Smiley Happy  So far after about 30 yrs paying in, that money has filled many a snowbird`s RV tank.  


What social security should be called is a voluntary program for those who wish to participate.

hobbyfarm2145365
Senior Contributor

Re: Extremist and hockey sticks.

How about those mandatory suckers who pay your DP,  Crop ins and every welfare programs to support your farming.  If your so disgusted with SS you realy should be disgusted with someone collecting farm subsidies after asll whan fund do you pay into to collect these WELFARE payts..  These are voluntary  programs that have turned into entitlements.    You carry on about trhe wealty drawing SS but never mention wealthy farmer buying land and collecting subsidies to pay fior it    Then there is the granddaddy of them the ethanol ripe off  a program designed to skin fellow Americans  at gas pumps so small group of greedy   poeple can profit.   Like I ask do realy have any idea how much the taxpayer shell out to support  poor farmers.

 

      

kraft-t
Senior Advisor

Re: Where I`m coming from, Don

If you have adolescent children they will draw on your SS until they reach maturity. Your wife may receive it as well if you have underage kids. It's call survivors benefit. BTw if you should become disable you also will qualify if you have paid in. Unfortunately some folks try to avoid all taxes and end up with a small benefit when they retire.

 

Plus SS benefits have historically received cost of living increases to offset the pain of inflation.

kraft-t
Senior Advisor

Re: Extremist and hockey sticks.

That is like saying my seed corn fund for the next 40 years is underfunded by $ 2,400,000 because that will the total cost of it on my farm. However, I and my heirs will do our best to raise enough revenue to fund that expense. Future reciepients of SS and medicare will have to adjust their contribution to a higher level to keep it solvent. They will do like Reagan the great and increase revenues to make that happen.

 

The cost of health insurance premiums have increased exponentially over the last thirty years. Do You not think that future beneficiaries should bump up their contribution from 2.5 % to perhaps 3% or 3.5%. That increase wouldn't amount to a pimple on your butt compared to the way the private insurers have been giving you the annual reaming.

BA Deere
Honored Advisor

First of all Hobby

I`m not disgusted with farm programs or social security.  I am only pointing out how deep in trouble our country is and spark conversation on how to save some money, saving our country in the process.  You of all people Hobby should be jolted at the thought of one day Bill Gates` servant saying " Pardon me Sire, however I would like to inform you that your monthly social security check of $1906.33 has been deposited into bank #14. The balance in that bank is now $19,498,287,906.33."  See, if Gates paid in and collects his legal amount, I don`t care but if you really want to help the truly needy you will give it a hairy eyeball. About ethanol, Hobby you should thank your lucky stars for it. In `08 and today gas would be much much higher because pinko commies(Democrats) halted the building of oil refineries, well each ethanol plant is a small refinery. Ethanol is a win win for America, not the entire solution but a sizable part. The big feedlots thought they had a birth-right to buy corn BELOW the cost of production. Now when the crop farmer is finally profitable, they want to pee on his parade.  

hobbyfarm2145365
Senior Contributor

Re: First of all Hobby

BA, I guess we can put fed lots on your ever growing hate lite.  Not one comment on the welfare rich farmers money grab.

Now ethanol a win win for witch Americans surely not the American driving consumer!  Ethanolis like farm welfare programs no realy know what it costs consumers.  Just think from the local to state to federal level how plants are subsidied for a product that produces poorer milage causeing consumers more.   If ethanol is a blessing as you say cut traffs import cheaper ethanol instead of subsidies a small group like corn farmers.   We as country drive almost 3 trillion miles a year  requiring 9 million barrels of oil per day .  Would we require less oil per day by using better milage unleaded  gas over this junk ethanol.   Its no win win for all Americans or just that snall group of  profit makers corn farmers beening one.   Now we have a Mandate to ripe the consumers even more.  Win win all right

GoredHusker
Senior Contributor

Re: Where I`m coming from, Don

I also do not believe in death taxes.  However, I do not share your beliefs in SS.  As Kraft pointed out, there are death benefits.  If your kids are underage, they receive a benefit monthly through their college years.  I knew a couple of kids that received $600 a month each until they were 22 after their father died.  If a welfare recipient passes away, their heirs are only entitled to their own welfare check.  Why should they receive their own welfare check plus the welfare check of their deceased mother/father? 

 

SS is somewhat similar to life insurance.  Those who collect life insurance are doing so from the premium you pay much like SS.  One can draw SS early at 62 with a penalty.  Personally, I do believe there are better ways to protect the elderly in this country than SS.  However, do I believe the typical working person would invest those same dollars going to SS into a private fund?  No, I do not.  Just look at how many people in the past three years that have raided their IRA accounts and such to make it through the recession.  While you look at your money as filling some snowbird's RV tank, remember how those 30 or so years younger than you will view how you spend your SS when you do reach 67. 

kraft-t
Senior Advisor

Re: First of all Hobby

Hobby  they say that the oiverall cost of a gallon of gasoline is $14 a gallon much of which is paid for by the federal government instead of the consuming public. Why else do you suppose those foreign consumers pay so much more at the pump than we do?