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View Diary: What I hate about so called progressives, democrats, liberals and whatever you call yourself...... (188 comments)

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  •  Thank you for the links. (0+ / 0-)

    This is my thought on this and I say this as a person who has to plan on depending on more than just my pension and SS during retirement.  

    My understanding that is that those who can least afford any cuts would not be a part of this chained CPI deal.  However, folk who are 20 years and more away from retirement are theoretically in a better position to make prudent retirement decisions than someone within, say 3-5 years of retirement.  

    The assumptions being made in those arguments is that SS would be the only source of income for the vast majority 20 - 30 years out.  I would certainly hope that is not the case.  

    •  As someone else pointed out, by saying or making (1+ / 0-)
      Recommended by:

      it so those that could least afford it be protected, makes it a 'welfare' pgm in the way that 'traditional' welfare has been.  It would pit one group of SS beneficiaries over another.  I don't think that is the way it should be done.  There is some formula that's used to determine benefits, the more you make the higher the benefit, but there is a mandated 'bottom' amount to be paid to the beneficiaries.

      Then there's the issue of stagnant wages.  Wages haven't kept up with the real inflation on food, drugs, and energy.  This will have an impact on everyone at some point or another - except for the really wealthy.  I don't think it's wise to COUNT upon 401k's, IRA's as they have absolutely no guarantees attached to them.  SS on the other hand has been paid into and has been a guarantee for more than 70 years now.  IIRC, more than half of Americans make less than $40k a year.  That doesn't leave a whole lot of room for extras in 401k's IRA's or 'regular' savings accts and have no choice but to depend upon SS during the retired years.

    •  No, only SSI (and possibly SSDI) will be (0+ / 0-)

      exempt from the chained CPI deal.

      You have watched Faux News, now lose 2d10 SAN.

      by Throw The Bums Out on Wed Dec 19, 2012 at 05:26:53 PM PST

      [ Parent ]

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