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Alan Greenspan on social security.

NickD on Fri February 27, 2004 8:37 AM User is offline

Year: 65 years
Make: hard worker

So where is this money going for social security? It's not charity from the government, the current rate is that a person pays $10, 788.00 on the first $87K earned per year with an addition 2.9% SS taxes on anything above that amount with no limits. I believe the absolute maximum benefits paid by SS to anyone regardless of what they paid in is around $20,000 per year. And that is only when that person is still alive.

Lucky for a guy working his butt off for 50 years to even make it another seven years after retirement for a maximum benefit of $140K, but at those levels of FICA taxes, he has already paid in assuming that income for the last 30 years of over $300K. And that is without the benefit of the inflation loss nor any interest paid on those savings.

The SS system as current is a big money maker for the government, but maybe not big enough.

Somehow this winterized gas got up to Central Wisconsin, I had to make a trip yesterday, and my 28 mpg Cadillac at least in the summer time would always give me 28.5 mpg, I was in no hurry, set the cruise at 57 mph to compensate for my speedometer error and only average 21.3 mpg. The gas sites says I should only experience a minor drop in mpg. The major insult was at the pumps where they are now charging $1.76 per gallon, road improvements are slowly down and counties are claiming they are not getting enough funds for snow removal, but yet the gas tax is huge about 33% of the per gallon price.

I am receiving some very negative e-mails about Kerry from friends, but yet he is the leader in the race, so here we go again, the worse of two evils in the next election, but yet each and every vote counts. Why is there such a huge tax on my phone bill each month, everything you buy is taxed or has hidden taxes, not only are you paying for your own outrageous property tax, but have to pay those taxes again whenever you buy something.

The idiots in our state put the battle between tax payments between the home owner and corporations, but if you tax corporations, they will either leave or the price of goods increases, how stupid can some people be? The problem is with the government, should be a law where they publish exactly what they take in and exactly what they spend and on what.

Bigchris on Fri February 27, 2004 1:36 PM User is offline

Nick, it's my understanding that the government has been borrowing from Social Security for years leaving treasury bonds as collateral. If that is correct, its no surprise that the money isn't there.

I too have been hearing a great deal of negatives about Kerry but whenever I've heard him speak for himself he has come across as intelligent and competent. My wife was very impressed the other day at how smart and informed his wife is. I guess we just have to try to decide which is real and which is bs.

Edwards is one of our state senators and I'll guaranty you he couldn't get re-elected here for another term.

NickD on Sat February 28, 2004 7:05 AM User is offline

Ha, I can see Alan's point, he's 78 and still drawing a paycheck, it's amazing that one guy has so much power in a "democracy", but that word should be killed, we live in a republic. Amazing the supreme court justices are appointed for life, are very carefully selected, even though their view is suppose to be impartial.

Still a lot of doubts about 9-11, so let's just blame the various enforcement agencies for not communicating even though they knew exactly what was happening before it happened. Did they let it happen? Also amazing that the IRS makes such a distinction between earned and unearned income, ha, seems like unearned income should be banned from our society, but you don't have to pay FICA taxes on unearned income, you have to pay FICA taxes if you work part time at Wal-Mart. A few years ago, an attorney earning $200K per year by renting out his name for a firm did not get a penalty for drawing benefits, but some poor slob working at Wal-Mart had to pay a buck back to SS for each two bucks he made even though he is only getting a portion back of what he paid in for retirement. Same thing today, but at least you can earn up to $30K now like $30K is a lot of money. Don't go looking for a home in the suburbs of Washington D.C. where all these dedicated civil servants live.

Still lots of jobs in the good old USA where you are trading your lifespan, construction and auto mechanics are prime examples, you don't see a 50 year old guy up on the roof or under the hood anymore, my friends in this line of work are complete physical messes already and these are the guys that are paying the taxes so those with an "unearned income" are getting rich on their efforts and complaining they are getting 500 bucks per month on disability pay. Maybe we should shoot those poor suckers. It's unreasonable what the medical and legal field charge per hour for very safe inside jobs, but they have the power.

I heard criticism of Kerry last night that he would bring Ben to justice where the commentator thought we should just find him and machine gun him to death. So why didn't we machine gun Saddam? Where is he anyway? Do I really have to watch Jay Leno to find out what's going on in the news? See he is complaining about the price of gas. Ha, we don't even need gasoline if we were develop the technology, but any attempts to develop this technology is killed. Even by the most trusted newscaster, ever, Walter Cronkite.

How can people form opinions when they are constantly fed a line of BS?

Bigchris on Sat February 28, 2004 12:56 PM User is offline

Quote
Originally posted by: NickD
How can people form opinions when they are constantly fed a line of BS?
1. Listen to Ralph Nader, he's only 20% crackpot 80% genius.
2. Move to Europe for a month where American bs is clearly identified as American bs.
3. Come back in 100 years. After all, we still haven't agreed yet on who killed Kennedy!

NickD on Sat February 28, 2004 1:38 PM User is offline

While we are supposingly the most powerful nation in the world, we only have about 5% of the world's population, we just can't expect one of us to take care of 20 of them. But at times, I feel our leaders are trying to do this, it's just too much of a load to carry, think I will take a nap, been a long hard week. I am getting lazy buy not working on weekends anymore, had way too much of that already.

I voted for Ralph last election, was the only guy that made some sense.

TRB on Sat February 28, 2004 2:52 PM User is offlineView users profile

Social Security will not even be there when I get to the age to collect. But will I receive a refund or the even amount I put in without interest? Imagine if you had a financial advisor that said I'll take some of your money each week and do with as I please. I'll keep telling you how great I'm doing with your money but in the end it will all be spent on on others peoples projects. You also will not be able to stop me from taking this money or you will be the bad person in this transaction and will have to go to jail.

I say the hell with the current tax code and give me a flat tax. Let me decide when and what I will do with my money. I'm tired of people looking out for my best interest, I can do that fine on my own. Should we help those that are need assistance? Sure but we should receive a fair amount in return. Time to stop all these money sucking poorly run programs that do nothing more than increase the burden our children and myself will have to pay for.

Hey what happened to Howie Mean I thought he was the great hope for the future!!!!!!!!!!!!!!!!!!!!

Nader, don't see him as a man I want running our military and protecting this country, but that's my opinion!

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Edited: Sat February 28, 2004 at 3:41 PM by TRB

Chick on Sat February 28, 2004 2:55 PM User is offlineView users profile

Hummm....Who did shot Kennedy..I know I was in New Jersey at the time, and thats my story, and I'm sticking to it!!!

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Chick
Email: Chick

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Freedoms just another word for nothing left to lose

NickD on Sat February 28, 2004 3:22 PM User is offline

I just reread the Warren Report, and certainly this report is unquestionably accurate in each and every aspect. The Warren report clearly states that JFK was killed in New Jersey, so you better come up with a difference alibi Chick.

The only way I can make out on SS is not to die, but if I do, I think my beneficiaries get 200-300 bucks to toss me in a hole someplace.

MrBillPro on Sat February 28, 2004 9:53 PM User is offlineView users profile



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Don't take life seriously... Its not permanent.

Bigchris on Sun February 29, 2004 12:46 AM User is offline

Quote
Originally posted by: NickD
I just reread the Warren Report, and certainly this report is unquestionably accurate in each and every aspect. The Warren report clearly states that JFK was killed in New Jersey, so you better come up with a difference alibi Chick.
The only way I can make out on SS is not to die, but if I do, I think my beneficiaries get 200-300 bucks to toss me in a hole someplace.
Chick is still trying to come up with an alibi for Jimmy Hoffa's mysterious disappearance!
What do you mean throw you in a hole? I vote for a taxidermist!!!!

NickD on Sun February 29, 2004 10:04 AM User is offline

Ha, that isn't even a DIY project anymore, I can't even bury a seven ounce still born pup in my back yard, but have to pay my vet 50 bucks to have it whatever to get rid of it. Wonder if they grind it up and sell it to Macs? I feel Greenspan has open access to my financial situation, when I had a home mortgage, I paid as much as 13% interest, man that was a hell of a bill. Now that I got a couple of bucks in the bank and my loan is paid off, I am earning a whole 0.75 -2%, just slightly below the inflation rate. Then I have to pay taxes on that interest, why can't I deduct inflation? Inflation doesn't stop the property tax assessor from jacking up my real estate taxes?

When I made my last payment my bank had a brand new building, had to drive all over town to find it. Couldn't help but look at my mortgage book with the accumulated interest and tell the bank president, that somehow I got the feeling I own about 75% of this building. Of course he didn't like that, but the truth isn't liked by most people nowadays anyway. By the way, what is the truth? Jack Parr used to say, it's the truth, it's the truth, but never said what that truth is.

When I calculate my labor rate, have to throw in my fixed cost for interest and taxes, practically all the time, I wish I could send the government and bank my net and keep what I have sent to them or just give it all to them and have them send to me what they consider a poverty wage should be. Gosh, I would be rich if I could earn a poverty wage.

Is the History Channel all wet on that series of the death of JFK, I watched it twice already and shake my head each time. But it was never powerful enough to attract any attention for any government authority to reopen the investigation, those that did mysterious disappeared off the face of the earth, kind of like Jimmy. I don't feel Chick is responsible, any guy taking care of penguins wouldn't do such a thing like that.

I got a letter from SS yesterday saying I can earn all the money I can now without penalty of benefits. And if I earn a lot more and pay stiff FICA taxes, I would get an increase in benefits. Now how does a guy find out who is benefiting from this. I mean if I pay in $10,000 worth of FICA taxes, would I get $20,000 more in yearly benefits? Or would I get an extra 2% per year?

Wouldn't it be great if we quit using money, and the only way those Washington guys could eat would be to clean up someone's yard or shovel off their driveway for a sandwich. Today, more people are making money with money than working for it. Someone has to work, otherwise these guys wouldn't have those fancy corporate jets to fly, drive cars that actually came with R-134a, and live in fancy homes.

With the tragedy of both my divorce and accident, I couldn't believe the number of attorneys that crawled out of the woodwork trying there darnest to get a big piece of the pie, and with the laws we have on the books today, made by these same attorneys, they succeeded. That is one hell of a way to make a living, wonder how these guys can sleep at night?

Edited: Sun February 29, 2004 at 10:07 AM by NickD

Ted2 on Sun February 29, 2004 5:34 PM User is offlineView users profile

Hey Nick,

You said you made your last mortgage payment, so everybody thinks your home now belongs to you, right? Wrong!

Every year these "paid for" property owners get a bill for propery taxes (can we call it rent?). The local government bureaucrats decide how much rent you must pay to inhabit what is supposed to be your property. And if the amount is such that you can't pay it? They will put you out on the street and sell the property to someone who can pay the taxes.

So it really doesn't matter how much money or how many years you spent acquiring the property, it still belongs to the government because they can establish the amount of rent (an ever increasing amount, by the way) that you must pay in order to continue to live there......or else they assume ownership and you end up looking for a place to live. Seems to me there is something wrong with an arrangement like that.

Ted

NickD on Sun February 29, 2004 6:18 PM User is offline

Ha, don't get me started on this subject Ted, property tax is the most unfair tax in the world, anything done to save your home on energy costs is eaten up with increased property taxes, the guy living down the block in a $20,000 home with a $200,000 motorhome is getting by dirt cheap on property taxes. Paying much more in property taxes does not increase neither the quality nor the quantity of services you get from the city or the school, the ones really benefiting from city services is the family living in a one room apartment with ten kids going to school. The Milwaukee paper is loaded with homes for sale every week for auctions for unpaid property taxes.

Not only that, but if some neighbor reports you to a social worker saying you need help getting around, that social worker can come in and slap you in a state nursing home at your expense, if you can't pay the bill, a lean is put on your property and sold off on auction to pay that greatly exaggerated bill. I was shocked when viewing the net as to the many cases that are occurring in this aspect. Some were reversed by the supreme court, but in general, the local judge rules in favor of the county as this brings in money, the hell with the criminal activities of the people that brought this misfortune on those least capable of defending themselves. This country is going to hell and going to hell quick.

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