Comments on What Social Security Pays and WhenTypePad2010-05-21T17:31:28ZNAhttps://www.freemoneyfinance.com/tag:typepad.com,2003:https://www.freemoneyfinance.com/2010/06/what-social-security-pays-and-when/comments/atom.xml/Marc Bautis commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f1936b1f970b2010-06-22T21:20:59Z2010-06-22T21:20:59ZMarc Bautishttp://www.bautisfinancial.com/blogI think a couple of things will be put in place to address the upcoming Social Security Shortfalls. The easiest...<p>I think a couple of things will be put in place to address the upcoming Social Security Shortfalls. The easiest one is to increase the maximum amount of earnings that are subject to Social Security tax. Currently the maximum amount is $106,800. The other change that would probably make the most sense is raising the full retirement age which is currently set at 67.</p>
<p>Reducing COLA's or the actual benefit that someone receives from Social Security probably will not make the cut.</p>BillV commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484b98752970c2010-06-22T14:31:55Z2010-06-22T14:31:55ZBillVMP You know, I considered doing just that in my above post. I chose then and do so now, not...<p>MP<br />
You know, I considered doing just that in my above post. I chose then and do so now, not to "enlighten". <br />
1. This is a personal finance blog, not a political one.<br />
2. We won't agree.<br />
3. No purpose would served and no one else on this site would care.(Or frankly even read).<br />
4. It has a lot to do with deep dish pizza..........(Okay I joking about that. We can even agree on that point. ;-)</p>
<p>But I find your stylized manner of posting amusing(I mean that in a good way--no sarcasm inteneded). Talk to you later.</p>MasterPo commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f18f307c970b2010-06-22T04:52:43Z2010-06-22T04:52:43ZMasterPohttp://pofile.blogspot.comBilV - Enlighten us. MasterPo doesn't think it has much to do with deep-dish pizza.<p>BilV - Enlighten us.</p>
<p>MasterPo doesn't think it has much to do with deep-dish pizza.<br />
</p>BillV commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f18eae24970b2010-06-22T02:34:25Z2010-06-22T02:34:25ZBillVMasterPo other than what you think you've heard from the Sunday and Fox news folks, you have no idea what...<p>MasterPo<br />
other than what you think you've heard from the Sunday and Fox news folks, you have no idea what the Chicago way means.</p>FMF commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f1878bd9970b2010-06-21T12:04:53Z2010-06-21T12:04:53ZFMFhttp://www.freemoneyfinance.comFS -- I have over a decade and a half before I have to even consider retirement.<p>FS --</p>
<p>I have over a decade and a half before I have to even consider retirement.</p>MasterPo commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484ad84dc970c2010-06-21T02:24:08Z2010-06-21T02:24:08ZMasterPohttp://pofile.blogspot.comDavid M - Impossible. There simply isn't enough money in SS to pay everyone for the rest of their lives....<p>David M - Impossible. There simply isn't enough money in SS to pay everyone for the rest of their lives. Even with tax increases. Just not there. They (whoever is in office at the time) will *have to* come up with ways to trim back the SS rolls. The Supreme Court has already ruled many years ago that you do NOT have a right to SS even if you've paid in all your life!</p>
<p>As to the first part, that's the Chicago way. And never let a good crisis go to waste. :-(<br />
</p>David M commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484ad410b970c2010-06-21T01:04:28Z2010-06-21T01:04:28ZDavid MJiml, I think the better "polital" route is to continue on the path that we are now on, that is,...<p>Jiml,</p>
<p>I think the better "polital" route is to continue on the path that we are now on, that is, tax the SS income more. Rather than means test and actually decrease the SS payment.</p>
<p>Just my opionion. BTW, I work for SS but these are just my personal opinions. </p>JimL commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484aca65c970c2010-06-20T21:36:40Z2010-06-20T21:36:40ZJimLIt is very possible, however, that at some point, means testing would be applied to social security benefits, resulting in...<p>It is very possible, however, that at some point, means testing would be applied to social security benefits, resulting in a reduction in benefits for some.</p>David M commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f183a285970b2010-06-20T15:40:26Z2010-06-20T15:40:26ZDavid MMaster Po, How is Uncle Obama going to hand pick a successor? He was elected President and the next President...<p>Master Po,</p>
<p>How is Uncle Obama going to hand pick a successor? He was elected President and the next President will also be elected.</p>
<p>If I was a betting man I would bet with Financial Samurai and not Master Po. I think most likely everyone that has paid into SS will get money out of SS. Will payments be decreased, possibly. Will more of it be taxed, possibly. However, no matter how rich you are, I think everyone will continue to get SS.</p>guinness416 commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484a97a16970c2010-06-20T03:06:32Z2010-06-20T03:06:32Zguinness416http://delicious.com/guinness416Might mark them if you expressed them a but more coherently. Honestly, does the silly third person gimmick never get...<p>Might mark them if you expressed them a but more coherently. Honestly, does the silly third person gimmick never get old?</p>MasterPo commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484a94da3970c2010-06-20T02:01:22Z2010-06-20T02:01:22ZMasterPohttp://pofile.blogspot.comThat's easy for MasterPo: ZERO. Don't count on getting dime from Uncle Obama (whoever his hand-picked successor is) when MasterPo...<p>That's easy for MasterPo: ZERO.</p>
<p>Don't count on getting dime from Uncle Obama (whoever his hand-picked successor is) when MasterPo retires, even if the system is technically still around.</p>
<p>The day will come soon when if you have over $100k in personal retirement plans (401k, IRA, SEP, SIMPLE etc) you will be deemed "rich" and "not need" SS.</p>
<p>Mark MasterPo's words.<br />
</p>Gail commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e2013484a86aac970c2010-06-19T20:54:22Z2010-06-19T20:54:22ZGailThe gravy of $1500 - $2000..... where did you get that fact? I know people who are retired, and most...<p>The gravy of $1500 - $2000..... where did you get that fact? I know people who are retired, and most certainly don't get that type of amount. You're right, it may be best not to plan on this. </p>Financial Samurai commented on 'What Social Security Pays and When'tag:typepad.com,2003:6a00d83451bcbd69e20133f17f0c5e970b2010-06-19T13:11:08Z2010-06-19T13:11:08ZFinancial Samuraihttp://www.financialsamurai.comThe extra $1,500-$2,000/month is gravy for sure! People should NEVER count on it, even though there's a good chance it'll...<p>The extra $1,500-$2,000/month is gravy for sure! People should NEVER count on it, even though there's a good chance it'll be there.</p>
<p>How many years away from 62 are you FMF?</p>