TOTALLY GEEKED!

Southern_Belle wrote:

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Nobody Just Nobody wrote:

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They said they don't have enough kids to take care of the elderly now.

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 it's gonna take a few decades to fix that problem

 

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 Yep.  Can we say baby boomers?

Southern_Belle wrote:

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So now there will be more children to take jobs American companies ship overseas...

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 It isn't about taking more jobs.  The issue is twofold.  1: they will lose their Chinese breading soon since there are so few Chinese girls, the men are marrying and procreating outside the Chinese nationality. 2: They will be  no longer economically competitive given their future prospects on the worker demographic.

They have to change.  The Chinese political system is no stranger to economics.

Lawyerlady wrote:

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Ooops, guess I could have kept reading before posting. LOL!

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Lawyerlady wrote:

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Ooops, guess I could have kept reading before posting. LOL!

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There's nothing wrong with repetition. 

There's nothing wrong with repetition.

I know what to do_sometimes wrote:

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ed11563 wrote:

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lilyofcourse wrote:

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I saw this coming years ago.

I've talked about the upside-down pyramid.

Too many elderly and not enough working to keep the economy going.

We have a similar thing happening here.

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Here, yes, definitely. 

WE need to raise retirement age to 75. Create more jobs for the elderly.

 

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 You mean, raise the age at which one collects SS retirement.  I agree with that.  75 may be a tad high, but yeah raise the age.  Also, raise the retirement age of public pensions to the same level.

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Let's just wait on that until next year...

Lindley wrote:

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I use to have a friend who was on disability and had a handicapped sticker for her car but can climb up her roof to fix it, paint and more physical work then I could do.

I do know some who really can't work and it was so hard for them to get it.

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 THIS!!

A dear friend of mine, who has worked all her life, has severe back problems. She rarely complains about the pain she's in. She can't get disability, even though she deserves it.

flan

Lady Gaga Snerd wrote:

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If you want to end SS, then give people the opportunity to cash out of it.

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 When I read this, I was wondering how it might apply to Secret Santa

Lady Gaga Snerd wrote:

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Lawyerlady wrote:

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Lady Gaga Snerd wrote:

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If you want to end SS, then give people the opportunity to cash out of it. Kind of like a life insurance policy. Let people take lump sums and then you can take them off the rolls. Or, just start decreasing the SS taxes and set up some vehicle for younger people to bank their money and end it then. End it for the new crop of 18 yr olds starting out. But, neither should they have to pay into it either. There would be a lot less people on the SS if the govt would have simply allowed opt outs. WHY is it fair that the Amish get to opt out and I don't? How is that fair?I would have rather opted out and saved that money in retirement accounts.

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 That doesn't work.  The money you will receive from social security will come from those working at the time.  The money you paid in is GONE, already given to the elderly now.  You can't stop collecting for social security unless you stop paying it.

 

And since when is life fair?  Especially when it comes to the government?

-- Edited by Lawyerlady on Saturday 31st of October 2015 08:56:56 AM

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No, life isn't fair. So, somehow it is OK to screw the diligent people of society? So, life isn't fair, then let's cut welfare and make the next generation work harder. Pay, pay, pay. If it isn't fair, then it can also be unfair in another direction as well.
Sorry but why should the Amish get a free pass? They undercut business here in PA. They are exempt from all kinds of taxes and they undercut a lot of construction firms who can't get away with what they do. I would have gladly worked my whole life to fund my own retirement without having the govt rob me. They can store up their cash but I can't. That's bullcrap.

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 The Amish don't collect social security.  I really don't care that they get a pass.  But the pass is based on the premise that SS is "social insurance" rather than a tax, and paying insurance is religious objection for them.  And that's the way YOU see it, to - as a program that is paid into and that you get back.  Your attitude doesn't consider it a tax, either.  But you might want to read about the fight -

http://www.amishnews.com/amisharticles/amishss.htm

I'm more annoyed that some of the teacher unions around here get to opt out, as do local governments that all opted before the law was changed in 1983.  There was a loophole. 

The options to opt-out are:

Opting out of Social Security

There is no legal requirement for individuals to join or participate in the Social Security program. However, the FICA taxes imposed are mandatory on covered workers and the self-employed who are covered. Employers are required^[24] to report wages to Social Security for processing Forms W-2 and W-3. There are some specific groups which are not required to pay into the Social Security program (discussed below). Internal Revenue Code Provisions section 3101 imposes payroll taxes on individuals and employer matching taxes. Section 3102 mandates that employers deduct these payroll taxes from workers' wages, at the worker's request (form W-4), before they are paid. Generally, the payroll tax is mandatory on everyone in employment earning "wages" as defined in 3121 of the Internal Revenue Code, and also taxes net earnings from self-employment.
Importantly, most parents apply for Social Security numbers for their dependent children in order to ^[25] include them on their income tax returns as a dependent. Everyone filing a tax return, as taxpayer or spouse, must have a Social Security Number or Taxpayer Identification Number (TIN) since the IRS is unable to process returns or post payments for anyone without an SSN or TIN. Moreover, the Internal Revenue Service will not^[26] issue a TIN to anyone who qualifies for, but is not denied a Social Security number.

Groups not covered by Social Security

There are a number of groups of workers who are exempted from having to pay Social Security taxes:

• Federal employees hired before 1984 who elected to continue to participate in the federal retirement program instead of receiving part of their retirement under Social Security coverage.
• State or local government workers (police officers, firefighters, and teachers) hired before March 31, 1986 and participating in their employers' alternative retirement system.
• Ministers may choose whether or not they will participate in the Social Security program.
• Self-employed workers with annual net earnings below $400.
• Election workers earning $1,000 or less a year.
• Household workers earning less than $1,500 per year.
• Minor children with earnings from household work but for whom household work is not their principal occupation.
• College students working under Federal Work Study programs, graduate students receiving stipends while working as teaching assistants, research assistants, or on fellowships, and most postdoctoral researchers.
• Individuals who are members of certain religious groups such as the Amish and Mennonites.

Before the 1983 changes, three counties in Texas (Galveston, Brazoria, and Matagorda) opted out of the system and now use an Alternate Plan, a private pension plan created and administered by First Financial Benefits, Inc.

In 1983, the U.S. Congress closed a loophole in the original Social Security Act that allowed municipal governments to opt out of the Social Security system, and also brought all civilian federal employees whose employment began in 1984 or later under the system.