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cwolff 
Group: Members
Posts: 265
Joined: Aug. 2003
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Posted on: Feb. 26 2004,8:35 pm |
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Greenspan has lost it! He says that the social security COLA (cost of living adjustment) needs to be lowered because it is too high. What is he comparing this too high of a COLA with? The cost of living has been almost double what the social security COLA has been, and over the last 5 years the social security COLA has averaged only 2.4 percent. With our largest expenditures increasing at around 8-9 % per year for homes, 8-9 % for automobiles, and 10-15% and more per year for health insurance, how can 2.4% be too high? I think Greenspan has been smoking greenstuff with Minnow!
There has also been talk about creating a means test with social security payments; just like we will have with our medicade prescription drug benefit. What a joke! Legislatures have been stressing and warning for a long time that Americans have not been putting away enough for retirement. I on the other hand have been putting away as much as I possibly can, while forgoing the many trips and vacations that my friends and others seem to always take. So, in retirement when I have a well planned out portfolio, and am ready to travel and spend without having to worry about my financial security, my social security, medicare, and medicade will be based on my retirement income, and people that failed to save and plan for their retirement will be entitled to more benefit, even though I may have paid in more and saved more.
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| Post Number: 2
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minnow
Group: Members
Posts: 2243
Joined: Aug. 2003
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Posted on: Feb. 26 2004,8:55 pm |
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Hey, don't blame da greenstuff for the wonderful world of entitlements. You're penalized for saving, for doing the right thing. So would you've bee smarter to just have spent the money on nonsense? No.
This is how it works...smart people don't hardly pay squat and dumb people who play for their rules pay through the nose. You must invest your income and assets in things they can't or don't count. It's simple really...learn the ways of the world or pay...it's entirely your choice mate.
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