New SS (2% increase) tax in effect

cardaddy said:
Dude, in Illinois they tried to pass a "bullet tax" of 5¢ per bullet, except it didn't make it because with a .22 it cost more than the freaking bullet! Then they did pass a $25 "gun purchase tax". Why did they do this you ask? Because by their numbers it takes, on average $55,000 to patch up street thugs in the ER from a gunshot wound. They estimated that 31% of all shootings were caused by illegal guns, so how to help with that but TAX 69% of the Law Abiding Citizens of the state to help raise (an estimated) $600,000 to help pay the ER bills for thugs that they need to take of the street anyhow. Go figure...... :dunno:

On another note; It was said earlier at Barrett Jackson (Cox Charity Car Auction) that "Five children have died today from child abuse". That being true, we turn our backs to over 1800 children each and every year and nobody says a word. Shame on us!
Sounds like we Obama to ban all mothers, fathers, sisters, brothers, aunts, uncles, cousins and baby sitters so we can get a handle on that.
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VERY WELL SAID! I'm from Michigan originally and wish I could go back!

Sent from my SPH-M930 using AG Online
 
FUNX725 said:
Sorry you feel this way...
Hopefully you'll be able to reap the benefits one day, as I do now.
____________________________________________________________________________________________________

According to the Social Security Administration:
Maximum Taxable Earnings:………......2012……………….2013
Social Security (OASDI only)……….$110,100......…..$113,700
Medicare (HI only)…………………………….N o L i m i t…………..

-My sincere wish is that for everyone that’s gainfully employed earns, at the very least, the
maximum taxable wages/earnings listed above…Hopefully a lot more.
____________________________________________________________________________________________________

BTW:
-The 2% increase barely covers the 1.7% C.O.L.A. for Social Security recipients (such as myself).

Although: ~$1260 a month isn’t going to make me a rich man…
...........Thanks for your support!!...........


Est. Average Monthly S.S. Benefits beginning January 2013: Before 1.7% COLA…….After 1.7% COLA
All Retired Workers……………………………………………………………………....$1,240 ………………………$1,261
Aged Couple, Both Receiving Benefits………………………………………....$2,014………………………..$2,048
Widowed Mother and Two Children…………………………………………......$2,549………………………..$2592
Aged Widow(er) Alone.……………………………………………………………….....$1,194...................$1,214
Disabled Worker, Spouse and One or More Children………………....$1,887………………………..$1,919
All Disabled Workers.....…………………………………………………………………$1,113……………….......$1,132
____________________________________________________________________________________________________


:)

Bob
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SS started as a separate fund reserve for those who paid into it but somewhere down the line that money went into the general fund. It became a system where the young will pay for the old. In theory, it would sustain itself as long as the proportion between the young and the old stays the same. It didn't happen. Birth rate has been on decline for decades and with the advance of medicine... people are living longer.

So this is where we are today.... the group paying into it is getting smaller while the group taking it out is getting bigger. It is not their fault. I blame the politicians for the lack of foresight and planning.

The Tax Holiday that we had in the last 2 years separated the SS fund from the general fund. Now expired, the SS fund will go back into the general fund. This is what I don't like. I am not against SS. My parents are on SS so I know full well what people are going through living on SS. I guess I wouldn't feel this way if I know for sure that the money will stay in SS. This money belongs to the people not the government to spend on their pet projects or social experiments.
 
psnt1ol said:
SS started as a separate fund reserve for those who paid into it but somewhere down the line that money went into the general fund. It became a system where the young will pay for the old. In theory, it would sustain itself as long as the proportion between the young and the old stays the same. It didn't happen. Birth rate has been on decline for decades and with the advance of medicine... people are living longer.

So this is where we are today.... the group paying into it is getting smaller while the group taking it out is getting bigger. It is not their fault. I blame the politicians for the lack of foresight and planning.

The Tax Holiday that we had in the last 2 years separated the SS fund from the general fund. Now expired, the SS fund will go back into the general fund. This is what I don't like. I am not against SS. My parents are on SS so I know full well what people are going through living on SS. I guess I wouldn't feel this way if I know for sure that the money will stay in SS. This money belongs to the people not the government to spend on their pet projects or social experiments.
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....^^^^ :goodpost:^^^^....

Thanks!! :dblthumb2:

Bob
 
TheCougarGuy said:
Good thing no one making under $250k is going to get a tax increase! I believe he said "not one dime". He is correct. It wasn't one dime...it was 1250 dimes a month in my case.
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I guess technically it's not really an increase. A temporary cut just expired and the SS tax went back to its "proper" level. I was hoping it would get extended again, but it doesn't look like it :(
 
Is it possible that sometime in the future there might be a means test?
 
Klasse Act said:
Do you guys know that a law passed here in Illinois to give illegals a drivers license? Think about that RIGHT NOW! They said so they could get insurance and be covered when they get into a wreck, yeah right, like they give a rats ass about that sort of thing.

Sent from my SPH-M930 using AG Online
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Illinois Governor, Elmer Fudd, and he was voted in after Blago went away!!
 
psnt1ol said:
SS started as a separate fund reserve for those who paid into it but somewhere down the line that money went into the general fund. It became a system where the young will pay for the old. In theory, it would sustain itself as long as the proportion between the young and the old stays the same. It didn't happen. Birth rate has been on decline for decades and with the advance of medicine... people are living longer.

So this is where we are today.... the group paying into it is getting smaller while the group taking it out is getting bigger. It is not their fault. I blame the politicians for the lack of foresight and planning.

The Tax Holiday that we had in the last 2 years separated the SS fund from the general fund. Now expired, the SS fund will go back into the general fund. This is what I don't like. I am not against SS. My parents are on SS so I know full well what people are going through living on SS. I guess I wouldn't feel this way if I know for sure that the money will stay in SS. This money belongs to the people not the government to spend on their pet projects or social experiments.
Click to expand...

To sum up what you said above, the age to start receiving SS SHOULD have been increasing to some degree similar to how life expectancy has been increasing. If this continues, people will be living long enough that they will be receiving SS almost as long as they paid into it. If that is the case, the 14 or 16% we pay in will be no where near enough to cover recipients.
 
Bert31 said:
To sum up what you said above, the age to start receiving SS SHOULD have been increasing to some degree similar to how life expectancy has been increasing. If this continues, people will be living long enough that they will be receiving SS almost as long as they paid into it. If that is the case, the 14 or 16% we pay in will be no where near enough to cover recipients.
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^^^^Good Point^^^^

Example:
My Wife's Grandfather is 102 years young...:dblthumb2:

So far:
-Just 54 years receiving his: Monthly pension based on 30 years accrued service

-And 40 years of receiving SS...(Only paid into SS for 35 years.)

-OH...Lest I forget: 37 years on Medicare (A&B)


We're looking forward to his 103rd this December!!

:)

Bob
 
FUNX725 said:
Sorry you feel this way...
Hopefully you'll be able to reap the benefits one day, as I do now.
____________________________________________________________________________________________________

According to the Social Security Administration:
Maximum Taxable Earnings:………......2012……………….2013
Social Security (OASDI only)……….$110,100......…..$113,700
Medicare (HI only)…………………………….N o L i m i t…………..

-My sincere wish is that for everyone that’s gainfully employed earns, at the very least, the
maximum taxable wages/earnings listed above…Hopefully a lot more.
____________________________________________________________________________________________________

BTW:
-The 2% increase barely covers the 1.7% C.O.L.A. for Social Security recipients (such as myself).

Although: ~$1260 a month isn’t going to make me a rich man…
...........Thanks for your support!!...........


:)

Bob
Click to expand...

Bob,

You and I are in the same boat my brother. I *am* one of those disabled Americans and it took me 9 years to get that tiny check. I also depend on a very small income to support my various hobbies, (all but a couple hundred a month I give to my wife). ;) I am very blessed that she has a good job and makes good money, but not 6 figures and with the economy being what it is, she's not had a raise in years, not even to keep up with COL. I (SOME DAY) will get a Union Pension, but they refuse to pay me anything for another 10 years! :( Thank God that hopefully, if the system isn't broke by then and she makes it another 11 years, she'll end up with a really nice SS check. Of course the house isn't paid for so there ya' go. :dunno:
 
flyinion said:
I guess technically it's not really an increase. A temporary cut just expired and the SS tax went back to its "proper" level.:(
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You could say the same for the Bush tax cuts that were set to expire on the 1st. Those were the tax cuts that the politicians spent 10 years saying they only benefited the rich until the "fiscal cliff" debate came along, then the same politicians said the middle class would have a massive tax increase if the Republicans didn't agree to a tax cut on the rich.

It's all B.S. They'll just piss it all away anyway.

They just keep chipping away at our liberties and freedoms. I know I'm sick of it. :nomore:
 
psnt1ol said:
SS started as a separate fund reserve for those who paid into it but somewhere down the line that money went into the general fund. It became a system where the young will pay for the old. In theory, it would sustain itself as long as the proportion between the young and the old stays the same. It didn't happen. Birth rate has been on decline for decades and with the advance of medicine... people are living longer.

So this is where we are today.... the group paying into it is getting smaller while the group taking it out is getting bigger. It is not their fault. I blame the politicians for the lack of foresight and planning.

The Tax Holiday that we had in the last 2 years separated the SS fund from the general fund. Now expired, the SS fund will go back into the general fund. This is what I don't like. I am not against SS. My parents are on SS so I know full well what people are going through living on SS. I guess I wouldn't feel this way if I know for sure that the money will stay in SS. This money belongs to the people not the government to spend on their pet projects or social experiments.
Click to expand...


Here is the largest problem with SS... 2012 ss consumed 23% of the entire federal budget.... 2016 is the year we will all eat the big one.... ss is expected to crest 38%+ of the entire federal budget... so unless a lot of old people plan on dieing in the next 2.8 years or a TON of these new fancy spending sprees congress and the man keep comeing up with you can expect these rates to rise a lot more and in a hurry... ss should have never shifted from its own fund... after it was conjoined into the G fund allowing this to be considered a contribution to the rest of government spending we shot our selves in the foot... or at least those that are old enough to have been there...

Personally I hope it falls off... i hope someone comes up with an age lets say 42... those 42+ will continue to pay and receive SS.. those that are not will continue to pay it 10-15? maybe 20 years... and will never see it...

I dont know the hard facts behind it but im sure if you ask 10 people in my age group mid 20's 8-9 of them will tell you ss.. ha ill never see it... thats the perfect time to transition away...

just my .02
 
I still feel it's entirely plausible that someday in the future there will be someone left standing who paid into SS but won't receive anything from it. Either because of a means test or because it was underfunded. To me that's exactly what happens in a (I hate to use a hackneyed, shop-worn, disingenuous metaphor) Ponzi scheme.
 
cardaddy said:
Bob,

You and I are in the same boat my brother. I *am* one of those disabled Americans and it took me 9 years to get that tiny check. I also depend on a very small income to support my various hobbies, (all but a couple hundred a month I give to my wife). ;) I am very blessed that she has a good job and makes good money, but not 6 figures and with the economy being what it is, she's not had a raise in years, not even to keep up with COL. I (SOME DAY) will get a Union Pension, but they refuse to pay me anything for another 10 years! :( Thank God that hopefully, if the system isn't broke by then and she makes it another 11 years, she'll end up with a really nice SS check. Of course the house isn't paid for so there ya' go. :dunno:
Click to expand...
You hang in there my friend...
Pretty soon you'll wonder: Where did those 10 years go.
Believe me...They will pass quickly.
Then...Some folks may say you're an Oldtimer...[But I won't :D]


Sometimes I think:
-What and where would I'd be without "The Good Wife"
-She has a pretty decent job...But faces the same: "Hard Economic-Times" issues as your Wife.
I, too, hope it lasts 'til she reaches retirement-age.

Also...
I do thank God, each and every day, for giving/allowing me:
Such a wonderful Woman/Lady...

Life is Good!!


:)

Bob
 
psnt1ol said:
SS started as a separate fund reserve for those who paid into it but somewhere down the line that money went into the general fund. It became a system where the young will pay for the old. In theory, it would sustain itself as long as the proportion between the young and the old stays the same. It didn't happen. Birth rate has been on decline for decades and with the advance of medicine... people are living longer.

So this is where we are today.... the group paying into it is getting smaller while the group taking it out is getting bigger. It is not their fault. I blame the politicians for the lack of foresight and planning.

The Tax Holiday that we had in the last 2 years separated the SS fund from the general fund. Now expired, the SS fund will go back into the general fund. This is what I don't like. I am not against SS. My parents are on SS so I know full well what people are going through living on SS. I guess I wouldn't feel this way if I know for sure that the money will stay in SS. This money belongs to the people not the government to spend on their pet projects or social experiments.
Click to expand...

See, that's my problem. The old fable, "robbing from Peter to pay Paul" is EXACTLY what our government does! Leave the SS fund for SS and let it do what it was built to do. They have so many pet pork barrel projects that are just sneaked in or OPENLY put in just because they want this guy or that guy to sign off on a bill.

We have a ferrell horse problem in the west. Openly, there is a ban on rounding them up and taking to slaughter houses. The only way to help control the situation is sell them at auction. The government spends from $1000 and up PER HORSE to round them up and bring them to auction. There is one individual, their best buyer, that'll buy them by the hundreds, at $100 a head. The 'understanding' is that he will not take them to slaughter. In fact, there are no US based slaughter houses anymore. However, just over the Texas border is in Mexico is one of the largest anywhere. This buyer is known to sell to them, but somehow the paper trail goes missing between Colorado/Wyoming and Texas and his trucks all come back empty. Hmmmmmm...... wonder how that happened?

Thing is, I don't care what he does with the horses. But why in the name of he!! do we spend over $1000 to sell these things to a guy that is getting rich on them, AND should be paying his own guys to round them up?

Another one; Storage containers, shipping containers that carry goods around the world. We are RENTING them in Iraq, Afghanistan, etc for $5000 ~ $7000 Ea, PER MONTH by the THOUSANDS! You can buy them for $2000 ~ $3000 TOPS! When you're done with them, sell then darned things. So instead of buying say 30,000 of them @ 3K each for a $90,000,000 total package, we RENT them monthly for around $200,000,000 A FREAKING MONTH, for years on end. Unbelievable.......:mad::mad::mad:

Wonder why we are going in the hole?
 
Dogfather said:
I still feel it's entirely plausible that someday in the future there will be someone left standing who paid into SS but won't receive anything from it.
Either because of a means test or because it was underfunded.


^^^^I feel the same way^^^^...

And I hope somebody that hasn't been totally overcome with brain-farts
is allowed to take a peek at the system...Real Soon!.
Click to expand...

Dogfather said:
To me that's exactly what happens in a (I hate to use a hackneyed, shop-worn, disingenuous metaphor)
Ponzi scheme.

@Bob <<<<:poke:
Click to expand...

^^^^:cheers:^^^^

Bob
 
TheCougarGuy said:
You could say the same for the Bush tax cuts that were set to expire on the 1st. Those were the tax cuts that the politicians spent 10 years saying they only benefited the rich until the "fiscal cliff" debate came along, then the same politicians said the middle class would have a massive tax increase if the Republicans didn't agree to a tax cut on the rich.

It's all B.S. They'll just piss it all away anyway.

They just keep chipping away at our liberties and freedoms. I know I'm sick of it. :nomore:
Click to expand...
:iagree: 1000%
 
FUNX725 said:
You hang in there my friend...
Pretty soon you'll wonder: Where did those 10 years go.
Believe me...They will pass quickly.
Then...Some folks may say you're an Oldtimer...[But I won't :D]
Click to expand...


Old, yup, that's me. ;) The age of a guy 11.5 years from (real) retirement age, and the back of a man thats 135 and already decomposed. :laughing:

FUNX725 said:
Sometimes I think:
-What and where would I'd be without "The Good Wife"
-She has a pretty decent job...But faces the same: "Hard Economic-Times" issues as your Wife.
I, too, hope it lasts 'til she reaches retirement-age.

Also...
I do thank God, each and every day, for giving/allowing me:
Such a wonderful Woman/Lady...

Life is Good!!
Click to expand...


Bob, I think now... you are officially my best friend! :dblthumb2:

Me and mine met in HS, wouldn't change a thing. (Well except for that part where she wanted to go be a rocket scientist for NASA.) :laughing:

Later,

Cardaddy / aka Tony
 
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