tagged w/ Retirement
U.S. Sen. Tim Scott said today he favors raising the Social Security retirement age to 69 or 70 to make sure the program remains solvent.
Scott, in an interview with editors and reporters of GreenvilleOnline.com, said adjusting the retirement age would not apply to residents who are 55 or older.
Raising the age “allows us to address what I think is a fundamental flaw in the system - which is the math of the system,” Scott said.
The full retirement age, also called ‘normal retirement age,’ had been 65 for many years. However, beginning with people born in 1938 or later, that age gradually increases until it reaches 67 for people born after 1959.
http://www.greenvilleonline.com/article/20130327/NEWS/303270066/Sen-Tim-Scott-says-retirement-age-should-raisedU.S. Sen. Tim Scott said today he favors raising the Social Security retirement age to... more
Retiring U.S. Rep. Ron Paul (R-TX) reflects on the liberty movement he built and the role for his followers in the Republican and Democratic party. Also he takes calls from the audience and answers to their questions.
http://bit.ly/XTJ7YKRetiring U.S. Rep. Ron Paul (R-TX) reflects on the liberty movement he built and the... more
WASHINGTON, DC, November 26, 2012 ― Congressman Ron Paul rose from relative obscurity to become a huge figure on the national stage, attracting a large and enthusiastic following of youthful supporters and affecting the course of the country’s political dialogue. After twelve terms, Paul has decided to retire from the House of Representatives, fueling speculation about what the former Obstetrician will do next.
During our recent conversation, he alluded to some of his future plans and discussed a wide array of other topics. Unlike most Americans when they retire, Congressman Paul won’t be heading home to relax. He explained that he plans to continue traveling across the nation, delivering speeches on college campuses to students eager to hear his philosophy of liberty.
The Congressman also discussed some of the other potential projects that he plans to embark upon in January: “Maximize my understanding and ability to use the Internet to spread the message. I’m interested in promoting homeschooling. That’s very important so people have options.” He continued, “I’m going to continue working with Campaign for Liberty. In my educational foundation, the FREE Foundation, I’m going to concentrate on talking about foreign policy and the foolishness of our overseas interventions.”
With the media and pundits already discussing the potential crop of political candidates unfolding for the 2016 Republican contest, I asked whether Congressman Paul knew of a potential candidate whom he was willing to support. “I think its way too premature. We’re barley getting over this race and the day after they’re talking about who’s going to be running. I think that four years is an eternity because conditions are going to change so differently. It might be so chaotic that maybe nobody will even want to. I haven’t spoken about 2016 and who I would support.”
Read more: http://communities.washingtontimes.com/neighborhood/remnant/2012/nov/26/remembering-ron-paul-changing-debate/WASHINGTON, DC, November 26, 2012 ― Congressman Ron Paul rose from relative... more
A national coalition of advocates for women's financial security is proposing sweeping changes in the Social Security system to end the gender gap in retirement benefits.
They want public retirement credits for people who take time off from paid employment to serve as family caregivers, for retirees who have worked in low-wage occupations and for widows.
These benefits, they say, would decrease the nearly 11-percent rate of poverty among senior women, which is 50 percent higher than that of male retirees.A national coalition of advocates for women's financial security is proposing... more
Is Social Security a good retirement plan? Economics professor Antony Davies shows that Americans stand to earn significantly less and assume more risk with Social Security than other investment options. According to Davies, taxpayers would be better off both in terms of financial security and return on investment by investing their money privately. Social security is extremely expensive, soon to be insolvent, and doesn't even offer taxpayers the most bang for their buck. For those reasons, Prof. Davies argues that it is time for the government to phase out Social Security. Davies' solution: the government should honor its obligations to current retirees while giving Americans the freedom to invest their money as they see fit.
http://youtu.be/PLTfOAYfbaoIs Social Security a good retirement plan? Economics professor Antony Davies shows... more
Republicans have painted themselves into a corner once again. The party that set out to sabotage and destroy the Post Office, is now confronted by angry 'conservative' constituents in their rural districts that object to losing their mail service, jobs, or the institution itself... Here's the latest...
http://veracitystew.com/?p=34114Republicans have painted themselves into a corner once again. The party that set out... more
If Republicans do succeed in destroying the USPS it’s hard to see how it will be profitable for FedEx, for example, to deliver daily mail to places like Fargo, ND and Spavinaw, OK at comparable rates.
Then there’s the matter of absentee voter ballots handled each election by the USPS. When they’re gone, will we really feel comfortable that our votes are being handled by corporate entities like UPS and FedEx, which are allowed to influence candidates and policy with large financial donations?
http://veracitystew.com/?p=30934If Republicans do succeed in destroying the USPS it’s hard to see how it will be... more
By David Edwards
Tuesday, January 17, 2012
Republican presidential candidate Ron Paul doesn’t want to abolish the Department of Transportation, but he said on Tuesday that the agency really only needed “one guy and a computer.”
During a town hall event in Spartanburg, South Carolina, the Texas congressman made the case for “user fees” for national parks and the federal highway system.
“Ideally, you can come up with all sorts of schemes about private highways and all, but that’s not going to happen,” Paul explained. “But we do have a user fee with our gasoline tax. Trouble is, they take that money then they spend it on something else.”
“If you had a user fee for our highway, what you could do is have one person in the office. Oh, we got umpteen billions of dollars in gasoline tax and all they have to do is divide up the people in each state or, you know, the size of the state and send the money back.”
He added: “And you could do that with one guy and a computer. But instead, we have a Department of Transportation, probably has tens of thousands of people, you know, playing politics with it all.”
Paul has said that he wants to abolish at least five federal agencies, a list that does not include the Department of Transportation.
Watch this video from CNN, broadcast Jan. 17, 2012.
"Eeeesh!!! At his Age I am thinking Retirement???"By David Edwards Tuesday, January 17, 2012 Republican presidential candidate Ron... more
This is a blueprint. It is a place to start. Let's go OWS- and find a legal way to bring on a national election for a Congressional Reform Act.
1. No Tenure / No Pension. A Congressman collects a salary while in office and receives no pay when they are out of office.
2. Congress (past, present & future) participates in Social Security. All funds in the Congressional retirement fund move to the Social Security system immediately. All future funds flow into the Social Security system,
and Congress participates with the American people. It may not be used for any other purpose.
3. Congress can purchase their own retirement plan, just as all Americans do.
4. Congress will no longer vote themselves a pay raise. Congressional pay will rise by the lower of CPI or 3%.
5. Congress loses their current health care system and participates in the same health care system as the American people.
6. Congress must equally abide by all laws they impose on the American people.
7. All contracts with past and present Congressmen are void effective November 8, 2012.
8. If there is a deficit of more than 3% of GDP, sitting congressional members are ineligible for re-election.
Read More: http://current.com/http://www.changingtheplanet.com/2011/11/99-could-win-any-election-they-wanted.html
"Thanks MauriceLacunza for sharing this info... "This is a blueprint. It is a place to start. Let's go OWS- and find a legal way... more
It is thought to be more prevalent among those who have reached high office and then suffered a fall from grace or decided that the time was right to quit.It is thought to be more prevalent among those who have reached high office and then... more
In Ohio today, more than 25,000 Ohio retirees took part in a telephone-town hall meeting to discuss how Issue 2 would harm seniors across the state.
Working families in the Buckeye State are mobilizing to vote “No” on Issue 2 because a “No” vote would repeal S.B. 5, passed earlier this year, which eliminates the collective bargaining rights of public employees.
David Friesner, president of the Ohio Alliance of Retired Americans, says the call “helped educate and mobilize retirees to vote no on Issue 2.”
Ohio seniors need to know how the programs they count on in their daily lives would be greatly diminished if this dangerous new law were to take effect. Moreover, retirees who gave decades to public service are outraged to see their life’s work slandered by opportunistic politicians like John Kasich.
Barbara J. Easterling, president of the national Alliance for Retired Americans and an Akron native, told people on the call:
In my experience, collective bargaining is the only way workers can earn good wages and be treated with respect and fairness on the job. Retirees worry about our children and grandchildren in today’s economy, and Issue 2 would be devastating for working families in Ohio.
I am deeply troubled at how Issue 2 maligns those who make our communities better, safer places. Public workers keep us safe. They teach our grandkids. They care for us when we are sick. Our schools, our hospitals, our community centers – these are the backbone of strong cities and towns throughout Ohio.
Edward F. Coyle, executive director of the Alliance for Retired Americans, said, “We must help retirees across the state separate fact from fiction.”
They need to know what Issue 2 means for the quality of the police, fire, and ambulance service in their local community. They need to know about possible cuts to first responders and the community programs that are a part of their daily lives.
http://www.unions.org/home/union-blog/2011/10/21/ohio-seniors-mobilizing-to-defeat-issue-2/In Ohio today, more than 25,000 Ohio retirees took part in a telephone-town hall... more
“They’ve managed to take the retirement plans for millions of people – 44 million people – and turn them into profit centers for the companies. Now people are complaining that the plans are underfunded, but they were fully funded, in fact there was a quarter trillion surplus as recently as ten years ago.”
http://veracitystew.com/2011/10/18/retirement-heist-how-wall-street-stole-your-pension-video/“They’ve managed to take the retirement plans for millions of people... more
Another milestone in my so-called golden years. Yet, to tell you the truth, these years haven’t seemed so golden. Maybe it is perspective. Maybe it is that it things really have changed so much that the idea of golden years has gone the way of the American Dream.Another milestone in my so-called golden years. Yet, to tell you the truth, these... more
ENDURING music veteran Russell Morris – made famous by his 1969 psychedelic classic hit The Real Thing – has experienced all the ups and downs of the rock ‘n’ roll industry.ENDURING music veteran Russell Morris – made famous by his 1969 psychedelic... more
Perry Says He Hasn’t ‘Backed Off Anything’ In His Book, Still Thinks Social Security Is UnconstitutionalNation of Change
Think Progress / News Analysis
Published: Saturday 27 August 2011
During a campaign stop in Des Moines, Iowa today, Texas Gov. Rick Perry (R) reaffirmed all the views expressed in his book Fed Up!, including that Social Security is unconstitutional, despite previous attempts by his campaign staff to walk back the candidate’s words.
In Perry’s book, released just nine months ago, he writes on page 48 that Social Security is “by far the best example” of a program “violently tossing aside any respect for our founding principles.” On page 50, he goes on to say that we have Social Security “at the expense of respect for the Constitution and limited government.”
Last week, Communications Director Ray Sullivan tried to limit the damage from Perry’s book by saying that its contents were, as the Wall Street Journal writes, “not meant to reflect the governor’s current views on how to fix” Social Security.
(Follow this story @ http://www.nationofchange.org/perry-says-he-hasnt-backed-anything-his-book-still-thinks-social-security-unconstitutional-131450)
NationofChange fights back with one simple but powerful weapon: the truth. Can you donate $5 to help us?Nation of Change Scott Keyes Think Progress / News Analysis Published: Saturday... more
Historical data indicate a strong relationship between the age distribution of the U.S. population and stock market performance. A key demographic trend is the aging of the baby boom generation. As they reach retirement age, they are likely to shift from buying stocks to selling their equity holdings to finance retirement. Statistical models suggest that this shift could be a factor holding down equity valuations over the next two decades.
The baby boom generation born between 1946 and 1964 has had a large impact on the U.S. economy and will continue to do so as baby boomers gradually phase from work into retirement over the next two decades. To finance retirement, they are likely to sell off acquired assets, especially risky equities. A looming concern is that this massive sell-off might depress equity values.
Many baby boomers have already diversified their asset portfolios in preparation for retirement. Still, it is disconcerting that the retirement of the baby boom generation, which has long been expected to place downward pressure on U.S. equity values, is beginning in earnest just as the stock market is recovering from the recent financial crisis, potentially slowing down the pace of that recovery.
This Economic Letter examines the extent to which the aging of the U.S. population creates headwinds for the stock market. We review statistical evidence concerning the historical relationship between U.S. demographics and equity values, and examine the implications of these demographic trends for the future path of equity values.
Demographic trends and stock prices: Theory
Since an individual’s financial needs and attitudes toward risk change over the life cycle, the aging of the baby boomers and the broader shift of age distribution in the population should have implications for capital markets (Abel 2001, 2003; Brooks 2002). Indeed, some studies attribute the sustained asset market booms in the 1980s and 1990s to the fact that baby boomers were entering their middle ages, the prime period for accumulating financial assets (Bakshi and Chen 1994)......
http://www.frbsf.org/publications/economics/letter/2011/el2011-26.htmlHistorical data indicate a strong relationship between the age distribution of the... more
21 Signs That The New Reality For Many Baby Boomers Will Be To Work As Wage Slaves Until They Drop DeadAll over America tonight, millions of elderly Americans are wondering if their money is going to run out before it is time for them to die. Those that are now past retirement age are not going to be rioting in the streets, but that doesn't mean that large numbers of them are not deeply suffering. There are millions of elderly Americans that are leading lives of "quiet desperation" as they try to get by on meager fixed incomes. Many are surviving on Ramen noodles, oatmeal, peanut butter or whatever other cheap food they can find in the stores. There are some that are so short on cash that they will not turn on the heat in their homes until things get really desperate. As health care costs soar, millions of elderly Americans find themselves deep in debt and facing huge medical bills that they cannot possibly pay. A lot of older Americans would go back to work if they could, but jobs are scarce and very few companies seem to even want to consider hiring them. Right now caring for all of the Americans that have already retired is turning out to be an overwhelming challenge, and things are about to get a whole lot worse. On January 1st, 2011 the very first Baby Boomers turned 65. A massive tsunami of retirees is coming, and America is not ready for it.All over America tonight, millions of elderly Americans are wondering if their money... more
Three Quarters of Middle-Income Boomers Expect to Work in Retirement
EXPOSE THE KOCHS: The Koch brothers fund multiple think tanks and academic centers to promote their ideology and grow their profits, a Brave New Foundation investigation reveals. Let's create an echo chamber of truth by using YouTube's SHARE tools above to protect Social Security and counter the Koch billions. http://KochBrothersExposed.com/socialsecurity
Via Robert Greenwald and the Brave New Foundation.
"Go get Em' Bernie.... You are the only one we can count on!!!"EXPOSE THE KOCHS: The Koch brothers fund multiple think tanks and academic centers to... more
MSNBC Host Cenk Uygur and Congressman Earl Blumenauer (D-OR) discuss whether or not we should raise the retirement age for social security. What reforms should we really be discussing?
"Now here's a Gem... What they want to do, is have you keep paying into Social Security, but making it to where you are either Dead by the time you get it, or may Die with very few years to enjoy it!!!" Gotta Hand it to the GOP...MSNBC Host Cenk Uygur and Congressman Earl Blumenauer (D-OR) discuss whether or not we... more