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. #61
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    Re: Should retired government workers get SS

    anyone who pays into the system should be able to collect. however, we should raise the contribution ceiling, and it should continue to rise with inflation.

  2. #62
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    Re: Should retired government workers get SS

    Quote Originally Posted by Helix View Post
    anyone who pays into the system should be able to collect. however, we should raise the contribution ceiling, and it should continue to rise with inflation.
    Raise the ceiling how? By requiring everybody to contribute more, or let people elect to do so?
    Building block or stumbling block.... choose.

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    Re: Should retired government workers get SS

    Quote Originally Posted by MaggieD View Post
    Link please.
    Google would have found it easily...

    Annual Report of the President's Pay Agent 2010

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    Re: Should retired government workers get SS

    Quote Originally Posted by sawyerloggingon View Post
    My brother in law just retired from a cushy gov job where he made 90K per year and openly bragged about how he spent most of the day shooting the breeze with other gov workers or reading books. He is now getting 70% of his pay and social security. It seems to me he is double dipping, getting a very generous retirement plan and SS. IMO if you are getting a tax payer funded retirement you are getting enough and should not get SS too.
    So - how much one was paid overall should affect how much social security they receive? Or retirement benefits, etc.

    But - I'm doubting those numbers . . . in part because he might be full of ****.
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    It has happened before, but there is nothing to compare it to now.
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    Re: Should retired government workers get SS

    Quote Originally Posted by PirateMk1 View Post
    Social Security is a goverment charitable work. Nobody is entitled to it. The Supreme Court was quite clear about that.
    They were clear enough about it alright, but that's not at all what they said.

    Flemming v Nestor

  6. #66
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    Re: Should retired government workers get SS

    Quote Originally Posted by GottaGo View Post
    Raise the ceiling how? By requiring everybody to contribute more, or let people elect to do so?
    by increasing the contribution limit. as i understand it (as of 2012,) a person making $106,800 per year will pay a maximum of $4,485.60. a theoretical person making a billion a year will also pay $4,485.60.

    Social Security Contribution Limits – 2011 & 2012

    in researching this, i found that the contribution level does rise slightly each year, so it is possible that it is already tied to inflation. i'm not sure.

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    Re: Should retired government workers get SS

    Quote Originally Posted by MaggieD View Post
    Having owned my own business with up to six employees for 20 years, I can assure you my knowledge is first-hand. Of course it depends on what the "defined benefit" is -- if it's 1% of pay, then it's quite obviously not a generous plan. That, however, is NOT the case in the public sector -- which is pretty much the only place Defined Benefit Plans exist.
    Thank you for conceding the point. And I guess you would agree then that the oligarchs have indeed succeeded in raping the unorganized and thus defenseless workers of the private sector, saddling them with all of the risks of defined-contribution plans, plans that depend critically on the unlikely event of Joe Schmoe somehow turning into an investment wizard, while of course divesting themselves of any present or future obligation to employees other than to sit back and watch them sink or swim on their own, the suckers.

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    Re: Should retired government workers get SS

    Quote Originally Posted by Cardinal Fang View Post
    Google would have found it easily...

    Annual Report of the President's Pay Agent 2010
    You are kidding me, right?

    The Federal Salary Council’s deliberations and recommendations have had an important and constructive influence on the findings and recommendations of the Pay Agent. The Council’s
    recommendations appear in Appendix I. The members of the Federal Salary Council are
    The Federal Salary Council is made up of seven people -- five of which are the heads of Federal unions. Pulleeze.

    Quote Originally Posted by Cardinal Fang View Post
    Thank you for conceding the point. And I guess you would agree then that the oligarchs have indeed succeeded in raping the unorganized and thus defenseless workers of the private sector, saddling them with all of the risks of defined-contribution plans, plans that depend critically on the unlikely event of Joe Schmoe somehow turning into an investment wizard, while of course divesting themselves of any present or future obligation to employees other than to sit back and watch them sink or swim on their own, the suckers.
    I concede nothing.
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  9. #69
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    Re: Should retired government workers get SS

    Quote Originally Posted by MaggieD View Post
    Having owned my own business with up to six employees for 20 years, I can assure you my knowledge is first-hand. Of course it depends on what the "defined benefit" is -- if it's 1% of pay, then it's quite obviously not a generous plan. That, however, is NOT the case in the public sector -- which is pretty much the only place Defined Benefit Plans exist.
    Very true. Defined benefit plans used to be the norm, but inflation eventually made them worthless: my office manager's father retired in from his state job in 1942 at 25% of his salary; by 1970, that $40/month didn't go very far. After a couple of well published bankruptcies in the early seventies (where retirees lost their only income), Congress passed the Employee Retirement and Income Security Act (ERISA) which required companies to plan ahead and save the money to meet their future obligations; that's when private companies generally dropped the defined benefit plans and went to defined contribution plans. It was a painful transition - from the beginning of retirement plans (ca 1815) until 1970, approximately 3% of retirees lost their retirement to company bankruptcy; after ERISA, the number jumped to 15%, but the defined contribution plans are much more stable.

    CF is correct that the Ponzi scheme of SS has lasted this long because of a reliable income stream extorted from the American taxpayer, but as the ratio of workers to retirees continues to drop we will eventually work through the bubble of income contributed by the baby boomers over the last half century. Then we can expect another painful transition as the goose no longer produces enough golden eggs.

    Creative accounting has protected the government retirement plans for many years, but we are seeing the beginning of a tidal wave of local government bankruptcies which should, when realistically faced, end the defined benefit plans even in government.
    "We the people are the rightful masters of both Congress & the courts, not to overthrow the Constitution, but overthrow the men who pervert the Constitution."
    - Abraham Lincoln

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    Re: Should retired government workers get SS

    Quote Originally Posted by PirateMk1 View Post
    My congressman is OVER paid. Egregiously so. Federal judges I think are fairly or generouly compensated.
    Agreed. In spades.
    "We the people are the rightful masters of both Congress & the courts, not to overthrow the Constitution, but overthrow the men who pervert the Constitution."
    - Abraham Lincoln

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