Make America Great Again.......Maybe...........For all you on Social Security.

by liam 12 Replies latest social current

  • liam
    liam
    401k or pensions, you earn that on your own, it has a yield of approx. 180% if you work from a reasonable age (so if you pay into it now for 40 years, you can live very well for the other 40-60 years).

    That's pretty Good! A person can actually have a couple of million by the time they retire. But I've heard that 1 in 10 actually have a 401 pension. Mostly because of ignorance about finance.

    Also, it seems like this change in Social Security is only going to affect those who worked some time for the Government and another part for the private Sector. It will not apply to your average Joe who only gets Social Security and never paid a into a private pension.

    Those affected are people like Fireman, Teachers, Police, etc. who didn't pay Social Security but had a private pension. They are the ones that will get the raise from my understanding. Those who only paid into social security will not get a raise.

    I may be wrong but that seems to be the consensus.

  • TonusOH
    TonusOH

    A point of clarification: in spite of the name, DOGE is not actually a department; it is a commission. It has a specific task (identify areas of wasteful spending in government) a time period (18 months) and a specific outcome (a report). It does not --and will not-- implement any changes itself, since it does not have the power to do so.

    I cringe when newspeople and commentators talk about what DOGE is going to do, as if it has any power to make policy changes or strike out even a single budgetary line item. It does not. It will give the President a list of things that he may choose to target, and probably some recommendations. That's it. Also, when given this list, Trump will not be able to simply scratch off items and terminate the funding for them with a stroke of a pen. I realize that people are panicking right now about Trump naming himself King of the Universe, but Congress still runs things in the USA, and Republicans in the House and Senate are not all aligned with Trump's plans.

    It's similar with Social Security. Stated plans are all well and good, but actually getting something done requires more than a sternly-written letter from the President.

  • DATA-DOG

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