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Author: 1poorguy Big funky green star, 20000 posts Top Recommended Fools Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 444947  
Subject: SS and the campfire people Date: 10/12/2012 3:23 PM
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Wow...a "best of" post led to the campfire board. Is it called "campfire" because they want to burn everything?

Evidently SS is a nanny-state program that assumes people can't take care of themselves. They were discussing mostly how it should be privatized, but I got the distinct impression they wouldn't mind if it were killed entirely.

I'm all for making some changes/reforms (especially on the withholding cap...there shouldn't be one). But these people clearly see the elderly that have to rely on SS as leeches. Equally clearly, they are all set for life so they won't need SS if it dies. (I'm betting the latter ain't true.)
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Author: goofnoff Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410880 of 444947
Subject: Re: SS and the campfire people Date: 10/12/2012 3:27 PM
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Stay away from campfire. Trust me on this. It will sour you on humanity in general.

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Author: MetroChick Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410890 of 444947
Subject: Re: SS and the campfire people Date: 10/12/2012 5:15 PM
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I'm skeptical that the majority of the working class (not just middle, but upper and low too) can really self-fund savings/retirement at the level that would be necessary to retire for 1-3 decades. Haven't seen actual numbers/models done on it, but if everyone was saving enough would our economy even be growing?

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410901 of 444947
Subject: Re: SS and the campfire people Date: 10/12/2012 9:25 PM
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Equally clearly, they are all set for life so they won't need SS if it dies. (I'm betting the latter ain't true.)



and their parents are also set for life .... (or possibly leeches?)

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410902 of 444947
Subject: Re: SS and the campfire people Date: 10/12/2012 9:29 PM
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I'm skeptical that the majority of the working class (not just middle, but upper and low too) can really self-fund savings/retirement at the level that would be necessary to retire for 1-3 decades. Haven't seen actual numbers/models done on it, but if everyone was saving enough would our economy even be growing?



i'm beyond skeptical on that one.

doubt that they can. certain that they won't (too tempting to fritter their earnings on protein)

.....then it's >what shall we do with them?<

isn't the number tossed around that before SS 80% of the elderly were below poverty ?

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Author: MetroChick Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410917 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:15 PM
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isn't the number tossed around that before SS 80% of the elderly were below poverty ?

So what's going to happen in the future when many only have SS if they're aged out of the employment market?

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Author: DrBob2 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410919 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:27 PM
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So what's going to happen in the future when many only have SS if they're aged out of the employment market?

http://www.ssa.gov/pubs/11000.html#a0=3
What is SSI?
- SSI makes monthly payments to people who have low income and few resources and are: Age 65 or older; Blind; or Disabled.

You may be able to get other help
- If you get SSI, you might be able to get help through the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. When you get SSI, you also may get Medicaid which helps pay doctor and hospital bills. If you get Medicare and have low income and few resources, your state may pay your Medicare premiums and, in some cases, other Medicare expenses such as deductibles and coinsurance.

DB2

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410921 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:36 PM
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isn't the number tossed around that before SS 80% of the elderly were below poverty ?

So what's going to happen in the future when many only have SS if they're aged out of the employment market?



?? future? already a lot of elderly with only SS
and "aged out of employment" is long before 'full retirement age'

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Author: MetroChick Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410922 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:37 PM
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What is SSI?
- SSI makes monthly payments to people who have low income and few resources and are: Age 65 or older; Blind; or Disabled.


I know there's additional resources right now, but many retirees right now have pension benefits - so there's fewer trying to just live off SS (and other govermental welfare-like benefits - meaning not pension/direct employment-earned) as their sole retirement account. If many of working age aren't going to receive pensions and aren't saving for retirement - that means coming down the line we're going to have more elderly again (as a percentage of the elderly population) living in poverty even if SS is kept (compared to COL) to what it is now.

And if today's working population were saving enough for retirement, that would take a BIG bite out of the economy - since as pensions were phased out incomes didn't increase to make up the difference one should now now be spending to save for retirement.

Should make for an intesting future - wonder how it's all gonna turn out.

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Author: Beridian Big red star, 1000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410923 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:39 PM
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Stay away from campfire. Trust me on this. It will sour you on humanity in general.


I now refer to that cesspool as the retire early pants-on-fire forum due to their propensity for non-stop lying. And you are correct, they do sour my opinion of humanity.

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Author: 0x6a74 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410924 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 2:42 PM
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If many of working age aren't going to receive pensions and aren't saving for retirement - that means coming down the line we're going to have more elderly again (as a percentage of the elderly population) living in poverty even if SS is kept (compared to COL) to what it is now.


aha ...THATs what you were talking about ... since no one i know has a serious pension, i tend to forget about them

.... i do wonder what % of retireds have them, but you're right that that number is falling


as you say, "interesting" times.

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Author: DrBob2 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410926 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 3:08 PM
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Should make for an intesting future - wonder how it's all gonna turn out.

Paul Krugman asked a similar question 15 years ago:

"Something is bound to give -- but what? Will retired boomers -- who will have even more political clout than today's smallish population of retired voters -- be willing to accept a sharply reduced standard of living? That is hard to imagine. Will younger voters be willing to accept huge increases in tax rates to support the boomers in the style they have been promised? That is equally hard to imagine. Or will the Government try to square the circle by simply printing the money it needs, creating runaway inflation? Surely that is inconceivable. Yet one or more of these unthinkable things will happen, because something must."

DB2

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Author: CountUpp Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 410929 of 444947
Subject: Re: SS and the campfire people Date: 10/13/2012 3:41 PM
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I now refer to that cesspool as the retire early pants-on-fire forum due to their propensity for non-stop lying. And you are correct, they do sour my opinion of humanity.

I thought the name was RWCJ, not so?

Count Upp

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Author: 1poorguy Big funky green star, 20000 posts Top Recommended Fools Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 411600 of 444947
Subject: Re: SS and the campfire people Date: 10/26/2012 1:05 PM
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I now refer to that cesspool as the retire early pants-on-fire forum due to their propensity for non-stop lying.

They do appear to be extremely deluded. The "Best of" led me over there again, and one poster actually said that Obama never had to negotiate (which is why he's so bad at it) because "everything has been handed to the guy".

Yeah...being born black in 1961, his life was just a bed of roses. Black folks just coasted through the 60s and 70s with people giving them everything on a silver platter. Riiiiiight....

(Wow.)

1poorguy

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