Serious question: If you don't have a job from which to contribute to SS

[renie408]

how much does that hurt your benefits once you retire??

If we go into another recession and the unemployment rate jumps again for a few more years, how exactly does that help seniors? How does that help people who hope, god willing, to be seniors some day? If doctors do not accept Medicare because it has drastically cut what it pays...how does that help seniors?

I am also curious why so many people here seem to think that Obama is holding all the cards and this is all just up to him. As if he is creating this thing by himself with no input from the party that holds the House rather handily. As if he does not have to consider Republicans at all. They have proven they WILL let this country go to hell and stand back and watch and today Boehner signaled that he will allow this whole thing to tank and blame it on Dems.

[Honeycombe8]

1. Well, you make some good points.

Very good points. But there is one thing to consider:

Cutting SS and Medicare will most definitely cut benefits and hurt vulnerable people.

But the harm that comes from not cutting a deal - it's not certain it will hurt those same people. For one thing, a new more Democratic Congress is coming in, and the Dems would have a much easier time of passing tax cuts for the middle class, staving off another recession or huge dip in the economy. Although that's not guaranteed, either.

If we cut this deal, I have read, it will be so severe that the result MIGHT be sending us back into recession, even though it does indeed cut the deficit.

Remember - this deal is to cut the deficit. It is NOT to increase jobs or help the economy in the short term. So the seniors may take a cut AND be faced with job loss, as well.

There are no good solutions.

[renie408]

4. I don't want to sound selfish

and I really DON'T want to see cuts to SS, but we are just now seeing a light at the end of the tunnel. And it is a pretty damn long tunnel and a faint light, at that. We lost just about everything over the past 4-5 years. My husband owns a small construction business and I own a horse training business. Construction and riding lessons and training are the first things to go in a recession.

I swear, I feel like we won't make it to 65 to see those reduced benefits if we have to try to struggle through another recession. We manged to keep our family intact and (knock on wood) relatively happy through a couple of home down gradings. But now we have my mother living with us and we are about stretched as far as we can.

That is another thing. How many seniors who rely on SS will be hurt if their families go through another recession and cannot help them? My mother lives with us and relies on us being able to maintain a house that can support her, my two kids and us.

Maybe I am being selfish. I am just scared shitless about what will happen if the economy tanks again.

[dennis4868]

6. As I have said over and over...

Obama said that any changes to SS must include an exemption for the most vulnerable so that there are NO changes for them. Liberals for some reason do not want to mention this. I guess it would mean they would not have a lot to bitch about.

[MotherPetrie]

2. Meanwhile, Obama calls for permanent extension of Bush tax cuts for under $400,000 incomes

$400,000.

Tell you who Obama's priorities are?

Hint: It ain't people who depend on Social Security.

[exboyfil]

3. Every U.S. citizen is

guaranteed a minimum amount (combination of S.S. and SSI) of about $9K/yr. Above that the formula is as follows:

It is actually calculated by quarters, but you can consider it by years for simplicity. 35 years of earnings are used for the calculation (the highest 35 years when adjusted for inflation using a table). The table is available online. That amount is averaged by summing and dividing by 35. That number is then used in a the following calculation:

Multiply the first $9204 by 90%
Multiply the amount between $9204 and $55,488 by 32%
Multiply the amount above $55,488 by 15%

Lets say you earn the current 2011 maximum of $106,800 and that amount held for every year for 35 years after using the inflation multiple:

$ 8,284
$14,811
$ 7,697
$30,792 Total


http://www.ssa.gov/pubs/10070.html#a0=0

[renie408]

5. Yeah, if I earned the maximum I probably wouldn't be so nervous.