The Motley Fool Discussion Boards
Retirement Discussions / Retire Early Liberal Edition
|Subject: Re: Poll: retirement income||Date: 10/2/2012 12:46 PM|
|Author: telegraph||Number: 45704 of 85591|
" Perhaps you & I are the slackers Mitt refers to, tele ;-)"
Heck, no...I paid over $10,000 in income taxes last year.
"I think conservatives are at least as likely to want means-testing as liberals. Means-testing will cause SS to lose the support of many upper-middle class workers and even some middle class. That's apt to doom the program, I suspect."
Reality is going to set in. No matter who is in power. You can't fund all the programs at 100% and borrow the money to do it!
It depends whether you have slow pain, or total collapse.....
I'd rather have Ryan on the job...than spendaholic Obama with Jarerett running the show.
"Anyway, I believe my SS benefit is safer under Democratic Administrations/Senates/Congresses than under GOP."
I wouldn't. It's going to collapse unless major major reform is done. Well, SS is the best off but Medicare and the drug plan, plus all the welfare weenie programs will bankrupt the gov't in less than 20 years, and likely less than 10, and maybe only 3 years until folks don't want to loan us money at 1%. That's the end....
When interest rates go to 5%..and the fed has to pay 5% on 16 trillion......that's 800 billion in interest...alone.....1/4 of the budget.
At 20 trillion, which is what Obama plans to run it to.....it will be a trillion dollars in interest every year.....
1/3rd of the total income tax received.
"I'm still undecided about when to start collecting SS. I think we should apply next month if Gekko-Galt and GOP Congress & Senate are elected(!). Else sometime between turning 64 (next year) and 65."
If you are retired, you are better off living off your income , not investing it....so you'll have less for them to confiscate.
" Anyway, I think it was good to keep rates low at the trough of the recession, but IMVHO rates should start to rise now or very soon. But maybe that's my interest income speaking. "
Duh...they don't plan to raise rates for 3 years...or likely the 4 years of Obama's new term if he can arrange it.
That way he can borrow and borrow at zero interest rates to put his' radical transformation' (ie, taking the saver's and retirees' wealth away by eroding the value of the dollar year after year...down 13% just this year alone. That runs up the cost of commodities, but why does he care? He'll just give 'em more food stamps at your expense!...
He'll borrow away and give away...so a dem gets elected in 2016.
But sooner or later the debt bomb will go off.....
The dollar is plummeting. Gold at near record high and 'skyrocketing' as folks realize their dollars are 'worth less'.
He's a disaster and so are his policies. THe middle east is coming undone. Fast and Furious killed hundreds and he shoveled the DOJ probe under the rug...white washed it....the economy is stalled.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|