W. Ferentz: Fixing Social Security

I am totally convinced that there is only one way to fix Medicare and Social Security: Get rid of the unfair, two-class retirement and benefit system.

Have all elected government officials, who currently have their own plans, change to Medicare and Social Security. Those systems would be fixed in a month.

I wish I knew how to get that done.

William A. Ferentz, Lewiston

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Comments

PAUL ST JEAN's picture

Wanna fix Social Security? 1)

Wanna fix Social Security?
1) Force government to replace every dollar they've ever taken out of it.
2) Force government to stop tapping into it every time they have an inclination to balance a budget.
3) Stop using it (SSI Disability) as a welfare fund for drug addicts, alcoholics, fakers, and the chronically lazy.
4) Put ALL workers (politicians, teachers, cops, the president, members of congress and the senate, their families) on the same system where everyone who works contributes to it.
And, Social Security will have been fixed.

Jason Theriault's picture

Well, a few things

They haven't taken any out of it. Current obligations are paid for with the funds coming in, with any extra being put into treasury bonds.

The easiest solution: Either raise the payroll tax to 15% 15.0% (currently12.4%) or cut benefits by 16%

Or a combination of the two. Any other change will require wholesale changes to the system which are not happening, especially in this environment. I think the tax increase would be easiest because special interests(AARP) will fight any cut in benefits like a rabid dog.

PAUL ST JEAN's picture

"They haven't taken any out

"They haven't taken any out of it."
Jason, with all due respect, I've been alive longer than you. Politicians have been stealing from Social Securiy in one manner or another for almost 50 years. Seldom have they ever replaced any of what they took out.
Remember oBAMa's payroll reduction cut from last year or the year before? That extra $5 or $7 bucks a week people are taking home is coming right out of their FICA contributions, which means less money for them to draw from SS when retirement time comes. oBAMa's picking the American worker's own pocket and he's too stupid to figure it out.

Jason Theriault's picture

Ok, so your saying the

Ok, so your saying the reduction , or cut, in the money gathered by the government , or taxes, is bad?
I just want to confirm your against tax cuts.

That said, the reality is that they way the system works is that excess revenues are "invested" into treasuries. Now, if you want to convert those treasuries back into cash, well, good luck. You'll have to bankrupt the government to do it, royally screwing over my generation and many generations to come.

Nope, thats not going to happen. First off, nothing is going to happen until next year anyway. A quiet solution, like raising the fica taxes up to 15% ish will be the simplest solution.

PAUL ST JEAN's picture

"Ok, so your saying the

"Ok, so your saying the reduction, or cut, in th emoney gathered by the government, or taxes, is bad?"
No, but governement taking money out of a working man's left pocket and putting the same money in his right pocket, and then pissing down his back and telling him it's only raining, is.
"A quiet solution, like raising the fica taxes up to 15% ish will be the simplest solution."
It would suck, but at least, it would be up front and honest (for a change).

MARK GRAVEL's picture

Agreed, As a public service,

Agreed,

As a public service, one should be mandated to live by the laws they legislate.
Moreover, no more life-time retirement after 4 years of service and institute defined contribution retirement plans in lieu pensions.

Steve  Dosh's picture

W. Ferentz: Fixing Social Security

Bill ? 10 pm Sunday hst •
Uh. .they aren't broken
http://www.aarp.org/work/social-security/news-04-2012/us--social-securit...
You are putting the cart before the horse and the Affordable Care Act hasn't even taken hold yet . It will next year ( 2 0 1 3 ) William
A very wise man ( Ron Reagan ) once said, " If it ain't broke , don't break it ."
h t h /s, Dr. Dosh and friends http://www.pnhp.org/ows/index.php

PAUL ST JEAN's picture

Yes, but Steve, the American

Yes, but Steve, the American way has become; "If it ain't broke, keep fixing it until it is."

MARK GRAVEL's picture

"We support OWS because

"We support OWS because economic and social inequalities make our patients sick. Low wages, high unemployment, inadequate education, unhealthy food, unaffordable housing, unsafe jobs, a polluted environment, and a lack of access to affordable health care breed death and disability."

Not necessarily. Their are people far more wealthier that I, but less healthier that I. Moreover, little of the above applies to the average American - does it?

MARK GRAVEL's picture

Correction: That --> than

..

Steve  Dosh's picture

all, 16;34 HST Monday Sorry

all, 16;34 HST Monday
Sorry about the ALL CAPS
http://www.aarp.org/
AARP LIVE CHAT ON THE FUTURE OF MEDICARE AND SOCIAL SECURITY,
WEDNESDAY AFTERNOON, MAY 23. SUBMIT YOUR QUESTIONS NOW.
AARP uses an older system and WE ARE ALL BLIND , DEAF , and DUMB !
HhahAHhahah . Just a joke :)
/s, Steve

PAUL ST JEAN's picture

Anyone who supports AARP is.

Anyone who supports AARP is.

MARK GRAVEL's picture

Doesn’t AARP make money off

Doesn’t AARP make money off supplemental SS insurance? That is, AARP has a business model tied to SS?

PAUL ST JEAN's picture

Absolutely, Mark. I've heard

Absolutely, Mark. I've heard they stand to make $10 billion off of oBAMaCare in the next 10-15 years. Ever wonder why they are so supportive of it?

MICHAEL LEBLANC's picture

Getting news from AARP on Social Security and Medicare ...

... is like accepting the fox's word that the henhouse is safe and sound.

Zack Lenhert's picture

Nobody should trust what Fox

Nobody should trust what Fox says... are we talking about the same fox?

PAUL ST JEAN's picture

Can one assume you are an

Can one assume you are an MSNBC or CNN guy, Zack?

MICHAEL LEBLANC's picture

I was talking about the little-eff fox.

Remember the old Cold War saying? You can always trust a communist to be a communist. The fox is similarly trustworthy.

The old saying about journalism? Trust nothing you hear and only half of what you see. If you apply that to big-eff Fox, they're far and away more trustworthy than the rest of the MSM put together.

But enough of this eff-ing around.

PAUL ST JEAN's picture

I've watched MSNBC to the

I've watched MSNBC to the point of nausea in an attempt to see how the other side operates. The major difference between them and Fox is that Fox wil conduct a Forum and have five people at a table; the moderator, two representing the liberal approach and two representing the conservative side of the subject.
Consistently, MSNBC will have five people around a table to discuss a 'balanced' discussion of a topic, but all five at the table, including the moderator, are interested only in the liberal point of view. Quite remarkable.

PAUL ST JEAN's picture

The little eff fox who

The little eff fox who salivates when the lamb asks, "What's for lunch, Foxy?"

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