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No. of Recommendations: 40
I watched the debate (sometimes only half listening) but one thing Biden said set me off: privatizing SS would have been a disaster. Has this man seen the current value of the S&P 500? His talking point on this is four-years out of date and wasn't right even then.

The fact is that SS is in terrible fiscal shape going forward, everything Ryan said about it is true and Biden was lying his keister off to scare older voters. Nobody is taking away your precious blood money Boomers, but for the love of God let us phase out this monstrosity for MY generation! Really, we'll take the hit so our kids and their kids aren't rendered economic slaves to us!

I just can't respect a politician who tells you to just let the government take care of you, don't try to take care of yourself, etc. It's condescending, misleading and frankly unAmerican. Biden disgusted me at that point.
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Colovion
I just can't respect a politician who tells you to just let the government take care of you, don't try to take care of yourself, etc. It's condescending, misleading and frankly unAmerican. Biden disgusted me at that point.


I thought Ryan did a good job in the end, summarizing the differences between Obama and Romney.

Obama: bigger gov't, higher taxes, higher spending and more gov't dependency.

Romney: Proven business leader and job creator with an tax structure that supports investment in business not gov't programs.

decath
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No. of Recommendations: 0
I watched the debate (sometimes only half listening) but one thing Biden said set me off: privatizing SS would have been a disaster. Has this man seen the current value of the S&P 500? His talking point on this is four-years out of date and wasn't right even then.
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I just saw a study saying SS is a bad deal for 80% of the people. Meaning, i believe, they put in more than they get out. I find it hard to believe it would be a money loser for 80% of the people if you got to invest your money in a lifecycle fund or even the S&P 500 over your 40 some year career. Then again, that's what dems do, scare people.
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No. of Recommendations: 4
I didn't know that constantly smiling derisively and frequently rudely interrupting was a debate tactic.

Ryan looked far more vice presidential--and he's not even elected yet--than Biden looked after four years in office.
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Nobody is taking away your precious blood money Boomers, but for the love of God let us phase out this monstrosity for MY generation! Really, we'll take the hit so our kids and their kids aren't rendered economic slaves to us!

colovion


A second half boomer like myself, age 55, is going to get the shaft when it comes to SS. The older boomers like tele are getting their SS and the system will go broke before the younger folks have put that much into it. People like me who have been paying in for almost 40 years will be the losers. I look at my paycheck withholdings for SS and Medicare as simply an additional Federal income tax and have made the necessary plans to fund my own retirement.

Mike
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Mike:"A second half boomer like myself, age 55, is going to get the shaft when it comes to SS. The older boomers like tele are getting their SS and the system will go broke before the younger folks have put that much into it. People like me who have been paying in for almost 40 years will be the losers. I look at my paycheck withholdings for SS and Medicare as simply an additional Federal income tax and have made the necessary plans to fund my own retirement."

You don't realize that the government is now doing the biggest transfer of wealth from the boomers to the younger generation of America?


Right before your very eyes, the gov't is artificially keeping interest rates near zero for savings, and at 3% for mortgages to bail out the mess they created.


They are desperate to 'bail out' the housing industry, but who benefits from this? Yep, the younger generation buying houses. who loses? Folks like tele and even tele's parents generation if they are alive, trying to eek out a living on CDs that now pay 1.1% for five years or so, and 0.02% on passbook and checking accounts and MMF.

Who loses? the savers and retirees, who see the dollar plummeting, so their assets are 'worth less'.

Same for the housing market. AFter Biden, Obama and his ilk, and protected the 'scheme' at Fannie, Freddie, and the 'everyone needs to own a home movement' protected by Dem Big Wigs like Bwarney Franks and Chris Dodd, who wouldn' not let Bush reform FAnnie before it was too late.......

It's the Boomers who have taken a 30-50% drop in the housing prices. It's the boomers who see their retirement evaporating as they can't sell their houses at any price, and certainly not at what they had hoped for.

WHo wins? Those buying houses now (younger generation). At near record low mortgage rates.


Of course, when inflation kicks in......the boomers will once again take it in the shorts.....the youth who are working, will get COLAs to compensate. The boomers often do not have COLA adjusted pensions, and of course, their CDs/bonds are slow to trek upwards - once again they lose, and inflation drives everyone into higher tax brackets so they pay more and more......on money worth less and less.


If you are under 55, you might not get a good deal......

If you are over 55, the system still is going broke and means testing will appear at some point.

Medicare costs will go up for everyone. They'll just keep sneaking in 'annual adjustments'...

Heck, my supplement went up over 23% this year over last year!.....



t.
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No. of Recommendations: 4
I just saw a study saying SS is a bad deal for 80% of the people. Meaning, i believe, they put in more than they get out. I find it hard to believe it would be a money loser for 80% of the people if you got to invest your money in a lifecycle fund or even the S&P 500 over your 40 some year career. Then again, that's what dems do, scare people.

It's the whole mentality behind it that galls me. We really don't need the government acting like our Big Mommy and Daddy to save us from ourselves economically. What kind of person thinks it's virtuous to tell people that they're worthless, stupid and need the government to take care of them? Who can sleep at night supporting a system that creates dependency on the government amongst people who, having worked for decades had more than enough opportunity to ween themselves off the government's teat? How is that compatible with any definition of freedom?

I certainly could do very well without their taking over 12% of my income (the part I pay in and the part my employer pays in for me which would otherwise be income to me, as far as employers are concerned it is part of their employee costs!) into a system that is clearly not going to be there for me in 40 years when I qualify for it. Either I'll have saved so much outside of it that I'll be deemed "rich" and will be denied it that way or it'll collapse into a pile of rubble like all Ponzi schemes and I still won't get it. Really, not seeing a single reason to support this program.
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