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Cimarron29414 · 09-15-2010, 06:56 AM

tully,

I'll just have to disagree with your implication on the sewer system and leave it at that. We'll end up parsing your words and I don't think we should waste our time.

As for SS, the point is not that 45 is enough time to "save for retirement." That notion implies that the funds one gets from SS is adequate to retire - which, clearly, they are not. Rather, that 45 number is the time you need to invest your SS money in the market and have it equal the money you would have received from SS. So, you get your SS money back into your paycheck, you invest it, and roughly the same point in time you would receive SS that money would be there (but in an IRA instead.)

Also, keep in mind that the market has made money in every 7 year stretch since way, way back. So, there will be valleys, but the net is always a gain. The recession is a debt recession - too much debt. When one views the current trend of private citizens, they are using their money to pay off their debt. Consumer debt is dropping rapidly because people are getting rid of it.

The government is not learning this lesson. The three largest budget items are military, SS, and medicare. So, politicians are going to target them in their rhetoric for responsible spending. A traditional republican will most likely target SS and medicare in a speech, while a traditional democrat will target military spending. However, that's just rhetoric.

The hard facts is that cuts have to occur across all three. We can debate the constitutional responsibility of the Federal government to provide for the general welfare of the people - it always boils down to that in the end.

With SS (or the spirit for which it was intended), you could have a better affect by simply writing a law that says "3.5% of gross income must be placed in a private IRA." Every citizen would immediately be better off. Then, one simply has to keep the promise of SS to everyone who's about to be or is currently on SS - and that's where phase out comes to play (that magic age of around 45). It's sticky and there will be hurt feelings, but effective leadership from citizen representatives (as opposed to politicians) means putting the country ahead of a career - especially when representing your state was not supposed to be a career.

The fact is that SS and medicare are not untouchable. We have to stop assuming they must remain no matter what.

09-15-2010, 06:56 AM	#230 (permalink)
Cimarron29414 Still Free Location: comfortably perched at the top of the bell curve!	tully, I'll just have to disagree with your implication on the sewer system and leave it at that. We'll end up parsing your words and I don't think we should waste our time. As for SS, the point is not that 45 is enough time to "save for retirement." That notion implies that the funds one gets from SS is adequate to retire - which, clearly, they are not. Rather, that 45 number is the time you need to invest your SS money in the market and have it equal the money you would have received from SS. So, you get your SS money back into your paycheck, you invest it, and roughly the same point in time you would receive SS that money would be there (but in an IRA instead.) Also, keep in mind that the market has made money in every 7 year stretch since way, way back. So, there will be valleys, but the net is always a gain. The recession is a debt recession - too much debt. When one views the current trend of private citizens, they are using their money to pay off their debt. Consumer debt is dropping rapidly because people are getting rid of it. The government is not learning this lesson. The three largest budget items are military, SS, and medicare. So, politicians are going to target them in their rhetoric for responsible spending. A traditional republican will most likely target SS and medicare in a speech, while a traditional democrat will target military spending. However, that's just rhetoric. The hard facts is that cuts have to occur across all three. We can debate the constitutional responsibility of the Federal government to provide for the general welfare of the people - it always boils down to that in the end. With SS (or the spirit for which it was intended), you could have a better affect by simply writing a law that says "3.5% of gross income must be placed in a private IRA." Every citizen would immediately be better off. Then, one simply has to keep the promise of SS to everyone who's about to be or is currently on SS - and that's where phase out comes to play (that magic age of around 45). It's sticky and there will be hurt feelings, but effective leadership from citizen representatives (as opposed to politicians) means putting the country ahead of a career - especially when representing your state was not supposed to be a career. The fact is that SS and medicare are not untouchable. We have to stop assuming they must remain no matter what. __________________ Gives a man a halo, does mead. "Here lies The_Jazz: Killed by an ambitious, sparkly, pink butterfly." Last edited by Cimarron29414; 09-15-2010 at 07:24 AM..