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Thread: House Panel Backs Major Military Retirement Overhaul

  1. #81
    Senior Member CYBERFX1024's Avatar
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    Quote Originally Posted by sandsjames View Post
    I think anyone who buys in to what any of these reports or any of the politicos tell us are really quite naïve. I'm amazed everyday when I have discussions with my class (whether it be pipeliners or prior students) at the number of fear mongering, conspiracy theory, end of days discussions take place. People (me included) spend too much time on forums and internet sites eating up the "facts" that are given.
    It always makes me chuckle when people make statements as absolute when it's obvious that many people who devote their lives to educating themselves on these topics disagree with each other.

    The extent to which the current population has allowed their political ideals to impact their day to day transactions just blows my mind. It's definitely a first for our society and, from what I can tell, isn't helpful.
    It's true when they say that "ignorance is bliss" because I couldn't imagine going through my life with all of these concerns (particularly the financial ones).
    I am not really big in to the whole fear mongering aspect of the social security fund at all, but I do want to believe that my money will be there when I retire. Just to let everyone know it is already being reported that you will pay into SS more than you will get out of right now. That will only get worse the more people retire.

    http://money.cnn.com/2013/04/14/news...rity-benefits/

  2. #82
    Senior Member Bos Mutus's Avatar
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    Quote Originally Posted by FLAPS, USAF (ret) View Post
    Just curious as to your sources of information used to form this view.
    The annual report of the board of trustees...

    www.ssa.gov/oact/tr/2014/tr2014.pdf

    There are many analyses of them around, but here are a couple.

    http://www.cbsnews.com/news/could-so...y-go-bankrupt/

    http://www.nbcnews.com/id/7080681/ns...y-going-broke/

    http://www.ncpssm.org/PublicPolicy/S...rustees-Report
    Last edited by Bos Mutus; 04-29-2015 at 08:16 PM.
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  3. #83
    Senior Member Bos Mutus's Avatar
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    Quote Originally Posted by USN - Retired View Post
    The latest official projection estimates that Social Security's Trust Fund will be exhausted in 2033, when it's forecast that about 77 percent of promised benefits can still be paid.

    2033 is not really that far way.
    This is correct. 2033 is not that far away, but plenty of time to monitor and adjust, as needed...remembering again, that a lot of the assumptions in those projections are far from sure things.

    ...and 77% is not exactly "SS not being there for me" either

    Again...these projections are based on IF NOTHING CHANGED....some small changes such as slight increase in taxes, slight decrease in benefits...add a couple years to the retirement age, etc. can and will close the gap.

    ...so, I say again...adjustments, probably...catastrophic collapse, no.

    Medicare funding is also in trouble. The Medicare program's trust fund for hospital care will run out of money in 2030. At the current rate of payroll tax collections, Medicare would be able to pay about 85 percent of costs in 2030, declining to 75 percent by 2050.
    ...again, there is time to make adjustments and they don't have to be huge.

    It'll be okay, guys...social security system has been adjusted like a dozen times before and probably will a dozen times again.
    Last edited by Bos Mutus; 04-29-2015 at 08:29 PM.
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    Senior Member USN - Retired's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    It'll be okay, guys...
    If I am getting anything less than 100% of what I should be getting, then it is not okay.
    As Libertarians, we seek a world of liberty; a world in which all individuals are sovereign over their own lives and no one is forced to sacrifice his or her values for the benefit of others

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    Senior Member USN - Retired's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    ...remembering again, that a lot of the assumptions in those projections are far from sure things.
    Many of those assumptions may be overly optimistic.
    As Libertarians, we seek a world of liberty; a world in which all individuals are sovereign over their own lives and no one is forced to sacrifice his or her values for the benefit of others

  6. #86
    Senior Member Bos Mutus's Avatar
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    Quote Originally Posted by USN - Retired View Post
    If I am getting anything less than 100% of what I should be getting, then it is not okay.
    Well, the question remains is "what should you be getting"...what COLA?

    You know...it's "not okay" that we were told we'd have free healthcare for life, but don't.

    It's "not okay" that govt. civilians were furloughed last year, but they were

    It's "not okay" that there's been hiring freezes, pay freezes, etc....but, that's just the way it is...no one wants higher taxes either.

    You'll be fine, I'm sure.

    Quote Originally Posted by USN - Retired View Post
    Many of those assumptions may be overly optimistic.
    If you want to stay up at night wringing your hands over this, be my guest...I'm not going to lose any sleep over it. Do any projections for a business, your personal finances, etc. out to 75 years and there are always shortfalls somewhere...

    ...I'm not going to look it up, but I bet if you looked up the fear-mongers from 40 years ago we should've already collapsed..or lost beneifts, etc.

    Just a way for the politicians not in office to get you to think they are going save you from some horrible fate if you elect them...bunch of bullshit. Social Security is just fine.
    Last edited by Bos Mutus; 04-29-2015 at 09:10 PM.
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    Senior Member USN - Retired's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    ....some small changes such as slight increase in taxes, slight decrease in benefits...add a couple years to the retirement age, etc. can and will close the gap.
    None of this really sounds okay to me. And none of it sounds believable. I'm not yet convinced that the changes will be "small" and "slight". I suspect that the increases in FICA taxes will be "large" and the decrease in social security benefits will be "significant".

    Don't forget, Medicare funding will also soon be a problem, and the federal debt is continuing to grow. We will have to increase the federal income tax to pay interest on the federal debt while we also increase FICA taxes. And how will we fund Medicare? That doesn't sound okay to me.
    As Libertarians, we seek a world of liberty; a world in which all individuals are sovereign over their own lives and no one is forced to sacrifice his or her values for the benefit of others

  8. #88
    Senior Member Bos Mutus's Avatar
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    Quote Originally Posted by USN - Retired View Post
    None of this really sounds okay to me. And none of it sounds believable. I'm not yet convinced that the changes will be "small" and "slight". I suspect that the increases in FICA taxes will be "large" and the decrease in social security benefits will be "significant".
    Carry on then, Chicken Little, carry on...meanwhile, Social Security increased it's surplus this year...and next.

    ...as for me, I believe all of these problems are things to deal with, but not insurmountable and greatly exaggerated by people who want to get elected, nothing more.

    Don't forget, Medicare funding will also soon be a problem, and the federal debt is continuing to grow. We will have to increase the federal income tax to pay interest on the federal debt while we also increase FICA taxes.
    Ohh..but all the Republicans signed Grover Norquists "No Tax Increase" pledge...

    And how will we fund Medicare? That doesn't sound okay to me.
    Believe what you wanna believe...cheers.
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    Senior Member USN - Retired's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    ...as for me, I believe all of these problems are things to deal with, but not insurmountable and greatly exaggerated by people who want to get elected, nothing more.
    So where's the plan to "fix" social security, medicare, and the federal debt?
    As Libertarians, we seek a world of liberty; a world in which all individuals are sovereign over their own lives and no one is forced to sacrifice his or her values for the benefit of others

  10. #90
    Senior Member TJMAC77SP's Avatar
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    Quote Originally Posted by Bos Mutus View Post
    This is correct. 2033 is not that far away, but plenty of time to monitor and adjust, as needed...remembering again, that a lot of the assumptions in those projections are far from sure things.

    ...and 77% is not exactly "SS not being there for me" either

    Again...these projections are based on IF NOTHING CHANGED....some small changes such as slight increase in taxes, slight decrease in benefits...add a couple years to the retirement age, etc. can and will close the gap.

    ...so, I say again...adjustments, probably...catastrophic collapse, no.



    ...again, there is time to make adjustments and they don't have to be huge.

    It'll be okay, guys...social security system has been adjusted like a dozen times before and probably will a dozen times again.

    Small changes have and continue to be made (retirement age has been raised). I can't collect full benefits until age 66 and 6 months (not 65). It hasn't seemed to solve the problem.

    I may not believe the doom and gloom bankruptcy of the far right but I also don't believe the rose colored glasses outlook of the Dems (actually more of an ostrich kinda outlook.)
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