Skip to main content

View Diary: US already has high elder poverty rate, so why are Social Security cuts even on the table? (223 comments)

Comment Preferences

  •  I agree it should be a choice, but it is being (7+ / 0-)

    forced upon many retirees who only have SSI in order to make ends meet HAVE to work.

    I have a few co-workers who would love to retire but for one BIG reason... that 401(K).  Remember the dot com back in 2001.  They lost HALF of what they had put in.  It had just gotten back to where it was when the 2008 bubble burst.  Now they are back to square one again.  One of them noted at this rate they MAY get to retire at age 70 if there isn't another bust again.  Or die on the job, which ever comes first.

    Just think of it.  If Bush II had gotten his way back in the mid 2000's and gotten part of the SSI $$$ into stocks.  The 1% would have made it very well in the bubble burst and a lot of us would be sitting with next to nothing in our SSI bucket right now.  A lot more retirees would be out competing with the 18 yr olds for what ever job they could get.  You think its bad now trying to get a job if your unemployed or just starting out, try it when 50% of those applying are grand-mom/pa are competing against you.

    I say raise the SSI cap or take it off.  I think also hitting interest and capital gains should also be taxed for SSI too.  If you raise the cap only - the top should be 10 million income.  I still prefer taking off the cap and tax it all.

    "Death is the winner in any war." - Nightwish/Imaginareum/Song of myself.

    by doingbusinessas on Mon Jan 14, 2013 at 10:09:14 PM PST

    [ Parent ]

    •  And of course, nobody has suggested that allowing (9+ / 0-)

      companies to defund and gut pensions in the bankruptcy court so the company keeps the money and the pension the workers had relied on vanishes, should be changed. Or that states should not be allowed to gut state workers' pensons because they have been shorting them for years as it is. There is no protection for pensions at all,and all the planning that people did believing it would be there when they got old enough, has been destroyed, with no refund for any of the money they paid in.

      I agree with your last paragraph, as I am one on SS ad wondering if my payment next month or the one after will show up.

    •  Like I said, working beyond 65 should not be a (0+ / 0-)

      mandate for survival.

      If "elitist" just means "not the dumbest motherfucker in the room", I'll be an elitist! - David Rees from "Get Your War On".

      by Oaktown Girl on Tue Jan 15, 2013 at 04:29:56 PM PST

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site