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There is a study today that came out by "Sentier Research" that is posted on CNBC's website under "economy". In the last 4 years, the only group who's income has not decreased when adjusted for inflation- was the group of 65-74 yr olds. I am hoping that some retirees in Hawaii in that age group will voluntarily not take social security. It appears that this is a radical concept, but I hope it is one that takes hold. Hawaii has a disproportionate amount of people on food stamps and other assistance. I want each and every poor person given food, shelter, and transportation. I do not want to see families living in cardboard boxes, like I have seen in Mexico. The blue tarp shelters really bother me, and the children that often live there. IT is often "wealthy retirees" that relocate to Hawaii, and it is that population that I hope to convince. IF more money is left for the gov't to distribute- and it doesnt matter which "pot it's in"- eventually our elected officials will "raid the trust funds again" -in an effort to redistribute the wealth. Hawaii is a much more generous state than Texas where I previously lived, and I can see that the poor people here are better cared for. I am so happy to see this. I want this to continue, and it will take money for the short term, and hopefully, eventually jobs.
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"... will voluntarily not take social security. ..."
That would be lovely....do I have the choice not to pay in to it as well?
Puna: Our roosters crow first
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Nice thinking there Eightfingers, on that line of thought it would be great if you could opt out of SS at 18 by signing some afadavit that says you don't have to pay but you don't get assistance either.
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Refresh my memory.
I'm a barely-hanging-on Puna-senior who needs to rush off to work in a sec, and don't have time to scroll through all the old threads.
Is the OP here the same poster who a day or so ago said folks should have 10 kids?
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UNJ - you do realize that social security recipients are taxed on anything over the base amount of:
$32,000 for married couples filing jointly.
$25,000 for single, head of household, qualifying widow/widower with a dependent child, or married individuals filing separately who did not live with their spouses at any time during the year.
So the group that is seemingly making so much money - it taxed twice if they should exceed say $25K since maybe they are a widow.
Hawaii has one of the highest COL in the US. If the average is 100%, then Hawaii sits at about 164% depending on which study you look at. Those on a fixed income - i.e SS and pensions, lost 1.7% just in one year (2012 to 2013). With the 2012 HI Poverty line set about $11, 500 - I do not see how your #'s make sense.
If I was you, I would go after the amount spent on wars and stupidity rather than tutu's SS.
The other part of this is, especially in Hawaii, the group between 50-74 seem to be the ones financially helping their family members in the the group above (the more senior tutus) and the groups below (college, first home down payments, etc) privately without government intervention.
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Alaska is the only state that opted out of Social Security over 30 years ago. I am probably the first generation of retirees from Alaska that worked for the state my whole life that will have absolutely 0 social security benefits (because I paid in nothing) including medicaid when I reach 62 1/2. (not there yet). But I do have a state pension with medical coverage for the rest of my life.
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Assuming that not all retirees are independently wealthy, which is a pretty good assumption as most of them aren't, should they then keep their jobs, or reenter the workforce, because they probably still want money to buy food and pay rent? And as you have noted before, then "steal" jobs from the young?
Why don't you restate your suggestion that retirees give up Social Security by first explaining where they will get their money from, such as bank robberies? Embezzlement? General fraud and graft? Join or start a group of Travelers? Poker? Or maybe the old folks are the ones who should go hungry and live in refrigerator boxes or under blue tarps, well they're old, so probably the gray tarps that HPM sells.
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves
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UNJ - I guess it is safe to say that you won't be taking social security when you finally reach retirement age correct? You will opt out of your share and give up all those years of paying into it correct?
You seem so worried about all the BB'ers sucking it dry and now you are hoping that people who have paid into their entire lives won't take it either. I am guessing your concern of SS is for the better good of the entire nation and not your fear that it won't be available to your when you retire correct?
It would seem that you would follow your own advice for the better good and opt out yourself.
Personally, I have paid into SS my entire life and a rather large fair share I might say. I plan on taking every dime of "my money" that I possible can if there is anything left by the time I hit retirement is 27 years. I can guarantee you that I won't get nearly the amount of money back that I have paid into it. Yes, I have other retirement funds as well(ROTH, 401K, pension, investments, etc). So social security is just one possible income stream when I retire and I will use it.
Malolo - Yes it is. Also said something similar to she doesn't care who pays for the subsidized school lunches as long as it is some "rich guy" and not her. Not verbatim but something along those lines.
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quote:
Originally posted by dragon2k
Means test SS. It will happen sooner or later. My father in law was worth several million when he died and he did neither need nor want his SS. It should be retirement insurance in case you need it....
I was under the impression that if you do not actually apply for it, you do not get it. They dont send you a note saying "wow! You are 62/65/67 and here is your check!"
It would be interesting to see how many people over $XM did not apply for it.
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UNJ trolling AGAIN.
The horse has been dead for quite awhile, give it a rest.
