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Thread: Important

  1. #16
    Join Date
    Feb 2003
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    Down By the Cedar River
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    979
    Quote Originally Posted by Butch Lambert View Post
    Tell'im Jerry. Being old and still self employed, I pay 15.3% of my salary to SS on my salary and match all of my employee's .0765 contribution. I do resend our SS money being used for anything else except for our retirement funds.
    Ain't it great Butch. How about paying unemployment on yourself and not being able to draw a dime.

  2. #17
    Join Date
    Jun 2012
    Location
    West central NH
    Posts
    419

    If you're ever in St. Johnsbury VT

    Stop in at Caplan's Army Store down on Railroad Street and say "Hi" to Gary Ely, the manager. He's 81 or 82 and it's the only job he's ever had. He loves it, and it suits him. He doesn't look much over 70. Besides his job at Caplan's, he has a ministry too. He gets to do what he loves and visit with friends every day.

    I used to shoot in NFAA archery tournaments with Gary and Dave Caplan back in the sixties. He stocks Caplan's with about any variety of outdoor and hunting gear that you could ask for. He has no plans to retire.

    Besides having a great benchrest venue, St. J has a wonderful natural history museum and their library, The Atheneum, is a must-see. It has a great art collection, including a huge Bierstadt of Yosemite Valley. Also check out Moose River Lake and Lodge for camp gear and taxidermy from great to not-so-great. There are also some good craft and antique shops. Have a Woodsman's Burger at Anthony's Diner while you're there.

  3. #18
    Join Date
    Jun 2010
    Location
    East Tawas, Michigan
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    256
    Quote Originally Posted by adamsgt View Post
    From NYT Jan 3, 2018 Part of a larger article.

    “With the N.H.S. coming under pressure as never before, we are asking patients and the public to use the health service responsibly,” she said, “to help ensure that care is readily available for everyone who needs it.”
    Dr. Anu Mitra, an emergency physician at Imperial College Healthcare N.H.S. Trust, said that 70 years ago, as the country was recovering from the devastation of war, the health service had been the country’s “greatest gift.” But “awful days like today” are a result of a systematic dismantling of the system eight years in the making.
    “Two years ago I’d have point blank refused to examine a corridor patient until they were in a cubicle,” Dr. Mitra said on Twitter early Wednesday. “On days like this it’s unavoidable, I’m ashamed to say.”
    The extraordinarily high pressure has led to resignations. In December, Bob Kerslake, the chairman of the board at King’s College hospital in London, quit in protest over what he viewed as the government’s insufficient funding of health services.


    “We desperately need a fundamental rethink,” he wrote in an opinion piece in The Guardian.
    Health Secretary Jeremy Hunt apologized to patients on Wednesday for the postponement of thousands of nonurgent operations. “It is absolutely not what I want,” he told Sky News. “There are real pressures, no doubt about it. This is the busiest week of the year for the N.H.S.”
    Patients have accused hospitals of putting them at risk.
    “I learned about the new set of deferrals from the news, but if I receive a notification, it will be the third time my operation is postponed,” Graham Groves, a construction worker, said as he sat in a cafe at St. Mary’s Hospital on Wednesday. “This is a disgrace. We injure ourselves while working to pay our taxes, and the government just leaves us to suffer.”



    That is ONE news article and ONE disgruntled doctor complaing about the health care system in England. I think you wouldn’t have to search very hard to find the same complaints about our system. whether we complain about the government or a health insurance company, there is not much difference, except we can vote out an unresponsive government.

    None of this changes the fact we in the US is the only country with a for profit medical system. Whatever their problems, not one of those other countries are advocating switching their system to ours. Rather than focus on what is wrong with someone elses single payer system and totally give up on the idea, why not look at what is working and improve on the rest? We are Americans. We CAN do better.

  4. #19
    Join Date
    Apr 2017
    Location
    Ames, Iowa
    Posts
    294
    Quote Originally Posted by virg View Post
    Of course SS was not designed to be an overall retirement program with individual accounts. It would have been a disaster. Look how a lot of folks have managed their IRAs and "K" accounts at work. If SS was up to an individual to decide what to invest in, 30% of those accounts would be broke by retirement. Also, SS was not designed to finance the general treasury fund either with IOUs. Clinton's the one who started the tax on SS because the fund was so solvent and successful.

    I don't profess to have the answers to todays social finance problems. But...in any society, someone pays the piper. There will always be those who whatever their education, or status, will take more than they give. We can let them die because of their life failures, and kick them out of the way on the way to work, or put up with life's general hardships.

    I just know, if you're extremely rich...no health worry's...or dirt poor...the emergency room will help with the county paying. But...if you've worked all your life and have saved a few hundred thousand, and get the wrong disease...you are at the mercy of a private insurance company.

    What specific tax on SS are you referring to? Does the SSA now have to file a return and pay taxes?

  5. #20
    Join Date
    Sep 2009
    Location
    Atlanta
    Posts
    761
    Quote Originally Posted by antelopedundee View Post
    What specific tax on SS are you referring to?
    See Q3 at https://www.ssa.gov/history/InternetMyths2.html

  6. #21
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    Apr 2017
    Location
    Ames, Iowa
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    Quote Originally Posted by Hunter View Post
    Thanks. According to that, the statement I was asking about is both confusing and wrong. SS bennies are now considered taxable income which has nothing to do with the success of the program. The bennies were initially taxed by the Pubs and the tax increased by the Dems. At least Iowa is wisely phasing out taxing SS bennies.
    Last edited by antelopedundee; 10-11-2018 at 11:11 AM.

  7. #22
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    Feb 2003
    Location
    Houston, Texas
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    7,020
    Quote Originally Posted by antelopedundee View Post
    Thanks. According to that, the statement I was asking about is both confusing and wrong. SS bennies are now considered income which has nothing to do with the success of the program. The bennies were initially taxed by the Pubs and the tax increased by the Dems. At least Iowa is wisely phasing out taxing SS bennies.
    I pay SS tax on 85% of what I get from the Government. That 85% is taxed at the same rate as my regular W-2 income.

    The whole idea I'd if you cease to work after retirement age, your income will not be high enough to see any punative affect from the SS tax. If you are like many of us who just keep working, the tax rate is substantial.

    It's the same with Medicare. When you hit 65, you can opt for three Medicare plans. If you have a low income, they are all three quite reasonable. However, if you keep working, what anything past Plan A will cost you goes up dramatically.

    The best thing to do if you still work past 70 is to have Plan A and a private policy. I have my regular Health Insurance through my Business.

    For over 20 years, I have maxed out my SS before the year ended. Of course, the Government keeps upping the amount, and the percentage. You do the math, and you can get an idea how much I have paid in through the years. I waited untill 70 to start drawing, that was my max out year. The shame is since I choose to work, they make me pay taxes on the money that I paid in and had already paid taxes on.

    I think it sucks that Seniors such as myself are penalized because they wish to continue working. The Government should show us a little more consideration.

    Fat Chance.

  8. #23
    Join Date
    Oct 2013
    Posts
    64

    Retirement

    Quote Originally Posted by vtmarmot View Post
    I never minded paying taxes, but then, I've never had to live hand-to-mouth either. Somebody has to pay for roads and military and such. It's waste that's galling, and there's plenty of that in government.

    I'm 67. I don't trust that social security will be there for me at 90 or even 80. I don't trust that my 403b won't be stolen by some hacker somewhere along the line. I'm going to keep working and putting away money in some sort of cash vehicles as long as they'll have me. My wife works, but has no benefits, so my work provides health care for us both.

    Hopefully, it will work out in the end. I'm not going to stop working when my full SS kicks in at 70 or my pension at 70 1/2. I figure I'll stay on full time until 75 and then maybe go part time. My brother is 75 and still doing computer work (like me) full time.

    If it turns out that I'm over cautious, then some worthy causes will get a nice donation. Am I paranoid, yes. Do I have a "bucket list"? No. My bucket list is to live comfortably and die in my own bed. Retiring at 65 and going to live in some sunny place and fish all the time is no longer realistic for most. I'm just embracing the new reality. Life has been good to me and my wife. No compaints. Studies say that people that work longer are healthier and happier anyhow.

    Wall Street will steal their portion first. Then it gets invested, later that will crash the market. Wash , rinse, repeat. Wall Street going to make everyone who plays life more comfortable.
    Check this one out on the website. United states Court of Appeals for the First Circuit. Docket #17-1293. Our employees are greedy and most politicians know they will vote.

  9. #24
    Join Date
    Apr 2017
    Location
    Ames, Iowa
    Posts
    294
    Quote Originally Posted by jackie schmidt View Post
    I pay SS tax on 85% of what I get from the Government. That 85% is taxed at the same rate as my regular W-2 income.

    The whole idea I'd if you cease to work after retirement age, your income will not be high enough to see any punative affect from the SS tax. If you are like many of us who just keep working, the tax rate is substantial.

    It's the same with Medicare. When you hit 65, you can opt for three Medicare plans. If you have a low income, they are all three quite reasonable. However, if you keep working, what anything past Plan A will cost you goes up dramatically.

    The best thing to do if you still work past 70 is to have Plan A and a private policy. I have my regular Health Insurance through my Business.

    For over 20 years, I have maxed out my SS before the year ended. Of course, the Government keeps upping the amount, and the percentage. You do the math, and you can get an idea how much I have paid in through the years. I waited untill 70 to start drawing, that was my max out year. The shame is since I choose to work, they make me pay taxes on the money that I paid in and had already paid taxes on.

    I think it sucks that Seniors such as myself are penalized because they wish to continue working. The Government should show us a little more consideration.

    Fat Chance.

    My SS bennies are taxed as well, but the way he worded his statement didn't suggest that. Since you waited until 70 to start collecting at least your bennies aren't reduced by what you make so there's that.

  10. #25
    Join Date
    Mar 2003
    Location
    MO
    Posts
    41
    https://www.ssa.gov/planners/taxes.html Tells more about this. Here is the really bad part of the taxing SS. When it was started in 1983 that income threshold noted on the previous post that referred to the SS rules was $32,000 because that was a really big income for retired people in 1983 and therefore only those with big retiree incomes paid taxes on SS. That income amount has not been changes ever in 35 years. So nearly everyone now pays tax on SS- for example a married couple with 2 SS incomes sometimes pays the tax and just a little of any other income now gets their SS taxed for sure. When this was started it should have had an income escalator built into to it. In the past I have called my US senator about this and they told me until some other tax was developed to make up for this situation it would not change.

  11. #26
    Join Date
    Feb 2003
    Location
    Tennessee
    Posts
    6,364

    The point of this

    The point here, boys and girls, is that SS is not in trouble. The point is YOUR Congress has allowed borrowings of SS funds. Now over 4 TRILLION (yes TRILLION) is OWED to the fund we retirees paid into for 40 years and now draw from.

    Were those ILLEGAL borrowings paid back we would be drawing over $33,000/year not the measly $15,000/year.

    Since the era of LBJ's Great Society all kinds of hanky-panky has gone on. Like, for instance, the Food Stamp program is paid by the US Department of Agriculture.

    SO, when you call your ELECTED representatives. DEMAND they get these IOU's paid back!!! (they are aware of these borrowings, but they don't know you know)

    The GOP should win BIG come November 6,,,,,so demand honesty for a while.

    .

  12. #27
    Join Date
    Dec 2015
    Location
    Nampa Idaho
    Posts
    376
    I have never been more anxious about an election than this one....and for obvious reasons.

  13. #28
    Join Date
    Jun 2012
    Location
    West central NH
    Posts
    419
    Why worry about things beyond our control? If the other side gains a majority, they'll just have another opportunity to discredit themselves.

  14. #29
    Join Date
    Apr 2017
    Location
    Ames, Iowa
    Posts
    294
    Quote Originally Posted by JerrySharrett View Post
    The point here, boys and girls, is that SS is not in trouble. The point is YOUR Congress has allowed borrowings of SS funds. Now over 4 TRILLION (yes TRILLION) is OWED to the fund we retirees paid into for 40 years and now draw from.

    Were those ILLEGAL borrowings paid back we would be drawing over $33,000/year not the measly $15,000/year.

    Since the era of LBJ's Great Society all kinds of hanky-panky has gone on. Like, for instance, the Food Stamp program is paid by the US Department of Agriculture.

    SO, when you call your ELECTED representatives. DEMAND they get these IOU's paid back!!! (they are aware of these borrowings, but they don't know you know)

    The GOP should win BIG come November 6,,,,,so demand honesty for a while.

    .
    When the basic benefit amounts were set was it based on how much was actually in the fund or some other formula? Where does the $33,000 figure come from?

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