S & P Dire Warnings

[piece-itpete]

Well I'm busted. I was certainly wrong. Maybe state tax went up. Heck if I remember. I'll still outdrink you Seriously I'm on the wagon there leftie. Dagnab it you've got me curious now.

What about the rest?

Pete

[Tom Joad]

Originally Posted by piece-itpete

According to my dad it was sold as a forced savings account basically and a bare safety net.

That's all it is today too.

The average monthly benefit for retired workers is $1294 a month.
.
I wouldn't call that much more than a bare saftey net, would you?

Yet your boy Ryan wants to take it away and give it to the Koch Brothers.

http://www.ssa.gov/news/press/basicfact.html

Originally Posted by piece-itpete

In 1935 life expectancy was 60 male and female 64.

So what?

Are you trying to say that people didn't collect for very long back then?

In 1935 a whole lot of kids died in infancy or early childhood.

So those averages include a lot of zeros and single digits.

By the time people reached adulthood they had almost as good a chance of making it to 80 as they do today.

[piece-itpete]

This is great, thanks. I'll never say that again! [edit - the fica thing] It looks like it was actually state taxes. I'll keep looking.

This is really interesting:

http://www.ssa.gov/policy/docs/ssb/v66n4/v66n4p37.html

I think not only more old folks but fewer workers to retirees is whacking the system. I wonder if factors were adjusted, what the like age to 1935 is now?

This is interesting too: http://www.infoplease.com/ipa/A0780010.html

According to the first inflation thing I could find: http://www.usinflationcalculator.com/
the $31 from 1950 is only worth $307 today. Even the $374 in 1980 would only be $1082 today.

Sadly the $107 I cleared for 40 at my first job would be $238.

Pete

[bobabode]

Originally Posted by BlueStreak

Oh, so now Wall Street tells us "trickle down" economics doesn't work and that the Randian Gekkoites were probably wrong?

Nice to hear after 30+ years of selfish, unbridled greed driven destruction. Good thing we have these geniuses around to help us avert disaster. We might have lost most of our industry by now.

Dave

Bless their pointed little heads.

[Tom Joad]

Originally Posted by piece-itpete

the $31 from 1950 is only worth $307 today.

So you think all us old people should only get $307 a month?

[Pio1980]

Originally Posted by piece-itpete

This is great, thanks. I'll never say that again! [edit - the fica thing] It looks like it was actually state taxes. I'll keep looking.

This is really interesting:

http://www.ssa.gov/policy/docs/ssb/v66n4/v66n4p37.html

I think not only more old folks but fewer workers to retirees is whacking the system. I wonder if factors were adjusted, what the like age to 1935 is now?

This is interesting too: http://www.infoplease.com/ipa/A0780010.html

According to the first inflation thing I could find: http://www.usinflationcalculator.com/
the $31 from 1950 is only worth $307 today. Even the $374 in 1980 would only be $1082 today.

Sadly the $107 I cleared for 40 at my first job would be $238.

Pete

Supressed wages from the recession and certain market forces aren't helping either.

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[Tom Joad]

Originally Posted by piece-itpete

According to my dad it was sold as a forced savings account basically and a bare safety net. In 1935 life expectancy was 60 male and female 64.

Sure, let's all party like it's 1935 again.

It was such a good year.

[hillbilly]

From what I heard Obama and Clinton talking about on CSPAN... if folks invest in Africa we'll see a huge return. Bill himself said there is A LOT of money to be made if they do..

So much for fighting to have more Made In USA.. we're going to be adding Made In Africa to the list of stuff sold here.

[piece-itpete]

Hey hb

Tom you need to get over your persecution issues

I was simply pointing out the SS is vastly different than it used to be.

For instance, I'll have to pay for mine twice!

Pete

[Pio1980]

In theory SS is more trustworthy than the self-serving Wall Street casino, if we can agree to assure that condition since Wall street won't submit itself to rational ethical standards and practices.

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