View Poll Results: should you get gov retirement and SS

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  • yes you deserve both

    30 78.95%
  • No, get only your cushy gov retirement.

    8 21.05%
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Thread: Should retired government workers get SS

  1. #181
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    Re: Should retired government workers get SS

    Quote Originally Posted by Cardinal Fang View Post
    LOL!!! Think you could keep up with these folks over at CBO?

    The successful candidate will contribute to the full range of the division's responsibilities. Those include constructing and improving cutting-edge models that underlie CBO’s policy analyses as well as preparing longer-term CBO studies, shorter-term memoranda, and testimonies. Analysts are also encouraged to turn CBO projects and independent research into CBO working papers and outside publications. Economists who have a broad range of policy interests are encouraged to apply. Special consideration will be given to candidates who have experience in building general equilibrium models and analyzing the effects of fiscal policy. Familiarity with micro data is a plus. Excellent interpersonal, writing, and quantitative skills, and the ability to communicate technical material in a clear manner are essential. Successful candidates will be able to work independently and complete work in a timely manner. Applicants should also have a Ph.D. in economics or a closely related discipline.

    This ad is NOT for a high-level position, by the way. Pretty much full professional worker-bee level.
    Any job can be made to sound impressive.

    Description: Accounts Receivable Clerk

    Accounts Receivable Clerk Job Purpose: Secures revenue by verifying and posting receipts; resolving discrepancies.

    Accounts Receivable Clerk Job Duties:

    •Posts customer payments by recording cash, checks, and credit card transactions.
    •Posts revenues by verifying and entering transactions form lock box and local deposits.
    •Updates receivables by totaling unpaid invoices.
    •Maintains records by microfilming invoices, debits, and credits.
    •Verifies validity of account discrepancies by obtaining and investigating information from sales, trade promotions, customer service departments, and from customers;
    •Resolves valid or authorized deductions by entering adjusting entries.
    •Resolves invalid or unauthorized deductions by following pending deductions procedures.
    •Resolves collections by examining customer payment plans, payment history, credit line; coordinating contact with collections department.
    •Summarizes receivables by maintaining invoice accounts; coordinating monthly transfer to accounts receivable account; verifying totals; preparing report.
    •Protects organization's value by keeping information confidential.
    •Updates job knowledge by participating in educational opportunities.
    •Accomplishes accounting and organization mission by completing related results as needed.
    Skills/Qualifications: Organization, Accounting, Data Entry Skills, General Math Skills, Financial Software, Analyzing Information , Attention to Detail, Thoroughness

  2. #182
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    Re: Should retired government workers get SS

    Quote Originally Posted by EarlzP View Post
    Wrong the monies collected for SS have and are being used by the government so the money being paid in should be collecting interest just like the money paid into any pension or retirement account.
    Most of the money paid in as payroll taxes is paid right out again as benefits. No time for it to earn much interest. The surplus is deposited to the SS Trust Fund which invests its balances in interest-bearing US Treasury securities. The average interest rate on SS holdings at the end of February was 3.86%.

  3. #183
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    Re: Should retired government workers get SS

    Quote Originally Posted by sawyerloggingon View Post
    Any job can be made to sound impressive.
    General math skills versus a PhD in economics? Get serious. Meanwhile, with all your carping over feds as welfare leeches, would you see yourself as having any sort of future at CBO, or is their whole "thing" just way above your head?

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    Re: Should retired government workers get SS

    Quote Originally Posted by Cardinal Fang View Post
    General math skills versus a PhD in economics? Get serious. Meanwhile, with all your carping over feds as welfare leeches, would you see yourself as having any sort of future at CBO, or is their whole "thing" just way above your head?
    Point is they made a menial job sound impressive. I'll admit though the gov really excels at this.

  5. #185
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    Re: Should retired government workers get SS

    Quote Originally Posted by Cardinal Fang View Post
    Most of the money paid in as payroll taxes is paid right out again as benefits. No time for it to earn much interest. The surplus is deposited to the SS Trust Fund which invests its balances in interest-bearing US Treasury securities. The average interest rate on SS holdings at the end of February was 3.86%.
    REALLY?

    Social Security Trust Fund - Wikipedia, the free encyclopedia

    In the United States, the Social Security Trust Fund is a fund operated by the Social Security Administration into which are paid payroll tax contributions from workers and employers under the Social Security system and out of which benefit payments are made to retirees, survivors, and the disabled, and for general administrative expenses. The fund also earns interest. There technically are two component funds, the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds, referred to collectively as the OASDI funds.
    When program revenues exceed payments (i.e., the program is in surplus) the extra funds are borrowed and used by the government for other purposes, but a legal obligation to program recipients is created to the extent this occurs. These surpluses add to the Trust Fund. At the end of 2011, the Trust Fund contained (or alternatively, was owed) $2.7 trillion, up $69 billion from 2010.[1] The fund is required by law to be invested in non-marketable securities issued and guaranteed by the "full faith and credit" of the federal government.
    The trust fund represents a legal obligation to Social Security program recipients and is considered "intra-governmental" debt, a component of the "public" or "national" debt. As of April 2012, the intragovernmental debt was $4.8 trillion of the $15.7 trillion national debt.[2]
    WALL STREET is going to have to wait a little longer to get access to our SS

  6. #186
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    Re: Should retired government workers get SS

    Quote Originally Posted by sawyerloggingon View Post
    Point is they made a menial job sound impressive. I'll admit though the gov really excels at this.
    But they didn't. It sounds like a clerks' job, which is what it is

    The first line (describes data entry (an entry level job) and the last line (lists general skills, nothing specific required) give it away
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

  7. #187
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    Re: Should retired government workers get SS

    Quote Originally Posted by Cardinal Fang View Post
    Depends on whether you want to maximize profits of not. Protecting or augmenting the return on an investment that is already quite substantial the first morning a new hire walks in the door is only good business. There is no manufacturer's warranty involved here. If a new PC won't boot and your techies can't get it up to snuff quickly, you can send it back and get a replacement free of charge. Doesn't work that way with people. Not even close. The sooner you come to grips with that fact, the better off you'll be -- assuming you have anything to do with HR in the first place.
    I own a corperation. I am employer. That means I employ people. I KNOW what I speak off. Its apparent to me you have little if any experiance employing people in the private sector otherwise you would not have come back with your rubish reply.

    Maximizing profits produced by an employee requires anaylis of the risk verses reward. There three major risk factors at play with an employee, profit and or loss, business retention, and liability. As with any investment the risks must be anaylised to understand where the break even points are for all the factors of employment in light of reward. All the pertinate factors for risk must be assesed and quantified and levels of comfort and action set for dealing with potential situations, just as you would for any other investment. A new hire that is not a very good fit is should be shown the exit the fastest. Its not fair to them or to the company to try and salvage something that will most likely be mediocre at best. They need a place were they fit well, just as the companie needs someone to fit well. People make errors thats a given and any reasonable employer knows this. Same with bad days, Training, saftey and other things that cost time or money. Any employer worth their salt will factor these things in. All three risk factors must be in harmony or keeping an employee around is foolish. This means that the employ must more often than not produce a profit. They must at minmum NOT drive away business. They must not be a liability, ie disruptive, lawsuits, accidents ect. These factors are subjective but none the less must be taken in account. There is no point in keeping an employee that harms the company more than they help. You cant and shouldnt try to shove square pegs into round holes.

    I dont employ people traditionally anymore. I have found that I get the same level of workers and the same spread of quality regardless of what I pay. Which at one time was DOUBLE and a Half the going rate in the county I was in. Much to my dismay I must say. I have found people will work just as intensily as for a smaller check as a larger one there is very little deviation I have found. I have had employees of all kinds. I decided that I coulndt find enough employees of the caliber I required so I started hiring contractors. I have found that people who own their own business tend to be much more motivated on average than the traditional employee. A lot of it has to do with the fact they have skin in the game I think.
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  8. #188
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    Re: Should retired government workers get SS

    Quote Originally Posted by PirateMk1 View Post
    I own a corperation. I am employer. That means I employ people. I KNOW what I speak off. Its apparent to me you have little if any experiance employing people in the private sector otherwise you would not have come back with your rubish reply.
    If you are managing HR there, you are damaging the interests of yourself and any other stockholders.

  9. #189
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    Re: Should retired government workers get SS

    Quote Originally Posted by EarlzP View Post
    REALLY?



    WALL STREET is going to have to wait a little longer to get access to our SS

    From you wikipedia link...

    Quote Originally Posted by wikipedia
    The 2011 Trustees Report Press Release stated:

    "Income including interest to the combined OASDI Trust Funds amounted to $805 billion in 2011. ($564 billion in net contributions, $24 billion from taxation of benefits, $114 billion in interest, and $103 billion in reimbursements from the General Fund of the Treasury—almost exclusively resulting from the 2011 payroll tax legislation.
    ...further...


    By law, income to the trust funds must be invested, on a daily basis, in securities guaranteed as to both principal and interest by the Federal government. All securities held by the trust funds are "special issues" of the United States Treasury. Such securities are available only to the trust funds.

    In the past, the trust funds have held marketable Treasury securities, which are available to the general public.

    [...]

    The rate of interest on special issues is determined by a formula enacted in 1960. The rate is determined at the end of each month and applies to new investments in the following month.

    The numeric average of the 12 monthly interest rates for 2011 was 2.417 percent. The annual effective interest rate (the average rate of return on all investments over a one-year period) for the OASI and DI Trust Funds, combined, was 4.401 percent in 2011. This higher effective rate resulted because the funds hold special-issue bonds acquired in past years when interest rates were higher.


    Trust Fund FAQs
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

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    Re: Should retired government workers get SS

    Quote Originally Posted by DA60 View Post
    Well, I disagree with the whole SS system.

    It was designed for people that were too financially useless to save up for retirement.

    Now, imo, it's basically a giant, governmental, bureaucratic mess that politician's love because it gives them more power/control over the masses.


    I say abolish it when everyone presently over 35-40 dies.

    And if seniors need help after that, they can go to government run emergency shelters (instead of welfare/SS) or appeal to family/charities.


    They have almost half a century to save up for retirement.

    If that is not enough...too bad.

    (the above does not apply to those with pre-65 physical/mental disabilities)


    It's time healthy Americans grew spines and took responsibility for their own lives...and retirements.
    So when my extended family members don't save, invest, get insurance, have a will properly done, etc., contary to our 'input', what do you suggest I do? BTW, it sure has been easier on us that they were forced to save for retirement, i.e. SS. Then there are our neighbors at one of our homes. I think it's apparent that some people have just SS when they retire since their homes aren't well maintained since they don't have the funds for that, but that is OK with me.
    Last edited by OhIsee.Then; 03-12-13 at 01:08 PM.

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