Tiberius Posted October 18, 2022 Share Posted October 18, 2022 1 hour ago, BillStime said: The wealthy need tax cuts! These people get that the cult is so ignorant they care not at all about anything. Pure F'n trash! Almost hope they create havic so I can go hunting 1 Link to comment Share on other sites More sharing options...
Demongyz Posted October 18, 2022 Share Posted October 18, 2022 I too have paid into social security my entire life, and I won't see a dime. Link to comment Share on other sites More sharing options...
BillStime Posted October 20, 2022 Author Share Posted October 20, 2022 Link to comment Share on other sites More sharing options...
Chef Jim Posted October 20, 2022 Share Posted October 20, 2022 On 10/18/2022 at 1:39 PM, Demongyz said: I too have paid into social security my entire life, and I won't see a dime. Why not? Teacher’s pension? Link to comment Share on other sites More sharing options...
Demongyz Posted October 20, 2022 Share Posted October 20, 2022 49 minutes ago, Chef Jim said: Why not? Teacher’s pension? Because it will be long gone by the time I become of age. On the teachers pension, one funny thing that a lot of people probably don't know about STERS. Teachers (CA at least not sure about other states) don't pay social security, but CALPERS employees do. Now because I do have CALPERS, even though I paid 100% into social security, if I do get it, it will be reduced by 33%. Strange right? I don't even plan on that pension being there either. I am building a separate retirement from the Government in order to ensure I can retire some day. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 20, 2022 Share Posted October 20, 2022 42 minutes ago, Demongyz said: Because it will be long gone by the time I become of age. On the teachers pension, one funny thing that a lot of people probably don't know about STERS. Teachers (CA at least not sure about other states) don't pay social security, but CALPERS employees do. Now because I do have CALPERS, even though I paid 100% into social security, if I do get it, it will be reduced by 33%. Strange right? I don't even plan on that pension being there either. I am building a separate retirement from the Government in order to ensure I can retire some day. I don’t know your age but SS in some fashion will always be there. They may means test it which I hope they don’t. What they need to do and do now is raise the FRA and get rid of the ability to draw at 62. Not only do you get a 25-30% cut in your benefit for life if you pull at 62 why are you not working? Waiting until 70 is usually, not always but usually, the best option. Link to comment Share on other sites More sharing options...
SoCal Deek Posted October 20, 2022 Share Posted October 20, 2022 25 minutes ago, Chef Jim said: I don’t know your age but SS in some fashion will always be there. They may means test it which I hope they don’t. What they need to do and do now is raise the FRA and get rid of the ability to draw at 62. Not only do you get a 25-30% cut in your benefit for life if you pull at 62 why are you not working? Waiting until 70 is usually, not always but usually, the best option. You know more about these topics than me Chef, but I’ve never understood where the constituency is for capping your contribution after you reach a certain level of income. I used to always say ‘hey, my take home paycheck went up’ every year when I eclipsed that cap. I honestly can’t imagine anyone getting upset. It’s a perk nobody requested. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 20, 2022 Share Posted October 20, 2022 15 minutes ago, SoCal Deek said: You know more about these topics than me Chef, but I’ve never understood where the constituency is for capping your contribution after you reach a certain level of income. I used to always say ‘hey, my take home paycheck went up’ every year when I eclipsed that cap. I honestly can’t imagine anyone getting upset. It’s a perk nobody requested. It’s a complex calculation that goes into determining your Social Security. Originally it was designed so high wage earners didn’t participate at all. They didn’t contribute and they didn’t benefit. Imagine that! Letting them take care of themselves. It’s morphed over the years to what we have today. Now would removing the cap alleviate a lot of the financial pressure on SS? Absolutely but with caps on benefit having caps on the contribution makes sense….to me anyway. Link to comment Share on other sites More sharing options...
SoCal Deek Posted October 20, 2022 Share Posted October 20, 2022 52 minutes ago, Chef Jim said: It’s a complex calculation that goes into determining your Social Security. Originally it was designed so high wage earners didn’t participate at all. They didn’t contribute and they didn’t benefit. Imagine that! Letting them take care of themselves. It’s morphed over the years to what we have today. Now would removing the cap alleviate a lot of the financial pressure on SS? Absolutely but with caps on benefit having caps on the contribution makes sense….to me anyway. I’m old enough to remember when a semi-coherent Joe Biden proposed gradually raising the retirement age during one of his many presidential runs. I thought it was a great idea then, and still do. There’s zero chance he brings that up now. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 20, 2022 Share Posted October 20, 2022 2 hours ago, SoCal Deek said: I’m old enough to remember when a semi-coherent Joe Biden proposed gradually raising the retirement age during one of his many presidential runs. I thought it was a great idea then, and still do. There’s zero chance he brings that up now. Well they have gradually raised the FRA to 67. Link to comment Share on other sites More sharing options...
SoCal Deek Posted October 20, 2022 Share Posted October 20, 2022 1 hour ago, Chef Jim said: Well they have gradually raised the FRA to 67. Time to go Higher? Link to comment Share on other sites More sharing options...
BillStime Posted October 21, 2022 Author Share Posted October 21, 2022 Link to comment Share on other sites More sharing options...
BillStime Posted October 22, 2022 Author Share Posted October 22, 2022 Get ‘em Brandon Link to comment Share on other sites More sharing options...
Chef Jim Posted October 22, 2022 Share Posted October 22, 2022 On 10/20/2022 at 2:54 PM, SoCal Deek said: Time to go Higher? How about reducing FRA back to 65, eliminate the 62 option increase the last option to 72 and reduce the 8% increase from FRA to oldest option. Major spitballing here of course but there are tons of options. It needs to (and will) stay in place but needs major overhauling. 1 Link to comment Share on other sites More sharing options...
Wacka Posted October 22, 2022 Share Posted October 22, 2022 (edited) BS probably has 40+ years to go till it can collect SS. SS is going up this year because of Bidenflation. Justgot my medicare info for 2023 from Highmark and they are covering even more in the part D supplemental. Won't have to pay my extra dental coverage after Jan 1. Edited October 24, 2022 by Wacka 1 Link to comment Share on other sites More sharing options...
BillStime Posted October 24, 2022 Author Share Posted October 24, 2022 Link to comment Share on other sites More sharing options...
SoCal Deek Posted October 24, 2022 Share Posted October 24, 2022 2 minutes ago, BillStime said: You’re right as always. If only SOMEONE would build a border wall or something. Oh wait…. Link to comment Share on other sites More sharing options...
BillStime Posted October 24, 2022 Author Share Posted October 24, 2022 1 minute ago, SoCal Deek said: You’re right as always. If only SOMEONE would build a border wall or something. Oh wait…. Trump did - and Mexico paid for it, right? F'n idiots Link to comment Share on other sites More sharing options...
BillStime Posted October 24, 2022 Author Share Posted October 24, 2022 Link to comment Share on other sites More sharing options...
Chef Jim Posted October 25, 2022 Share Posted October 25, 2022 1 hour ago, BillStime said: Can we get a list of Republicans that have said they will do away with SS and Medicare? Link to comment Share on other sites More sharing options...
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