Thread: Seniors upset at not getting a COLA increase

[quote name='Djinn' date='15 October 2009 - 09:57 PM' timestamp='1255661847' post='39065']

The Galveston plan only works when you consider that it incorporates zero cost-of-living increases, no adjustment for inflation, and no benefits for spouses or dependents. Go look it up.

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No it works no matter how you look at it especially when you account for the fact the money it theirs and they can leave an estate to their heirs.

[quote name='jacksbrat' date='15 October 2009 - 10:20 PM' timestamp='1255663212' post='39076']

Thanks, I belive I will.... Ohh look what I found:



Does Galveston Offer a Model For Social Security Reform?



Not according to this article.



http://www.ssa.gov/policy/docs/ssb/v62n1/v62n1p47.pdf[/quote]





* Workers making $17,000 a year are expected to receive about 50 percent more per month on our alternative plan than on Social Security - $1,036 instead of $683. [See the Figure.]

* Workers making $26,000 a year will make almost double Social Security's return - $1,500 instead of $853.

* Workers making $51,000 a year will get $3,103 instead of $1,368.

* Workers making $75,000 or more will nearly triple Social Security - $4,540 instead of $1,645.

* Galveston County's survivorship benefits pay four times a worker's annual salary - a minimum of $75,000 to a maximum $215,000 - versus Social Security, which forces widows to wait until age 60 to qualify for benefits, or provides 75 percent of a worker's salary for school-age children.







In Galveston, if the worker dies before retirement, the survivors receive not only the full survivorship but get generous accidental death benefits, too. Galveston County's disability benefit also pays more: 60 percent of an individual's salary, better than Social Security's.



Two government studies of the Galveston Plan - by the Government Accountability Office and the Social Security Administration - claim that low-wage workers do better under Social Security. However, these studies assumed a low 4 percent return, which is the minimum rate of return on annuities guaranteed by the insurance companies. The actual returns have been substantially higher.

http://www.ncpa.org/pub/ba514

Why should I? I paid my premiums on this government insurance plan. I'm entitalled to the binifits.

You said you opposed privatization, so you ARE asking for SS.

I agree that it was rather silly of me to leave some money in the stockmarket while a republican was in office. Experience should have taught me better.

If you want to expose your lack of knowledge about retirement planning here in public have at it.

Look, I did not have any choice when it came to me paying the premiums. So, I feel I deserve my payments. As for the cola, it has never kept pace with inflation. The only way to beat inflation is to stock up on supplies and invest in silver or gold. Do enough people do that ? No! so they have to depend on these cola's. My home is payed for, as well as my vehicles. I pay all my major insurance for the house and vehicles by the year and therefore reduce my monthly expenditures. Do most people do this? No! So they suffer the consequences of their actions and live check to check.



Now on top of these payments I also receive my Veterans benefits as well. I volunteered to do my duty for country when others refused and as a result was badly injured. So, I feel I deserve these payments as well.



These programs are socialist in nature and were never intended to provide people with the sole means of support. They were and are only a stipend but many have, through a lack of either understanding or drive failed to do what was necessary in order to increase their incomes. So, they suffer the consequences.



The government could stop all payments today and me and mine would not suffer the loss. Does that mean I should refuse payment? Hell no!!



For those who feel unjustly taxed it is your responsibility to act and not piss and moan.