tag:blogger.com,1999:blog-19246708.post2653753042366282512..comments2024-03-29T10:25:45.030-04:00Comments on Social Security News: Andrew Biggs Is Still Annoying -- And WrongUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-19246708.post-90727396231320353822015-10-18T03:53:48.914-04:002015-10-18T03:53:48.914-04:00Raising the FICA cap is a good idea as long as you...Raising the FICA cap is a good idea as long as you can put on hold all the other tax raising schemes on the rich because if you don't stop you are not going to have any rich tax payers left.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-79975804937990643512015-10-17T08:31:04.007-04:002015-10-17T08:31:04.007-04:00IRA's have a participation rate of between 15-...IRA's have a participation rate of between 15-20%. 401k plans are only available to 50% of workers anyway but of those roughly 80% participate but only 10% put in the maximum. The Federal Thrift plan for non Civil Service employees (Hired after 1984) is at 87.5%. The key to participation in 401k's and the Thrift plan is that you are enrolled automatically and have to take steps to opt out of participation.<br /><br />Essentially, unless coerced in some way, very few people choose to participate in any retirement plan at all. If SS was voluntary, or didn't exist, then we would be as America was before SS, work until you die or move to a poor house. And, without SS, that is exactly where we would be today.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-83562843417510024952015-10-16T14:13:46.126-04:002015-10-16T14:13:46.126-04:00From the article:
"While red-meat progressiv...From the article:<br /><br />"While red-meat progressivism sells in a Democratic primary, will ordinary Americans want to pay even more into Social Security to expand benefits when they could just as easily – and with greater confidence – <b>save that cash on their own?</b> I doubt it. It’s one thing to expand a government program on someone else’s dime, but another when you have to pay for it yourself."<br /><br />Save cash on their own? Ok, Republicans, listen up. Not everyone lives in a nice house in the suburbs and drives a BMW. Most of us who represent disability claimants encounter families that live paycheck to paycheck and, especially in rural areas, cannot afford gas money to get to the doctor. So how are they going to save cash on their own for their retirement? I would really have a lot more respect for Republicans if they would just be honest and say "if you are poor, you are screwed and we don't care." Then, we could have an honest debate in the country.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19246708.post-84816398261581095672015-10-16T06:44:08.175-04:002015-10-16T06:44:08.175-04:00If Biggs, the American Enterprise Institute and th...If Biggs, the American Enterprise Institute and the Koch Brothers got their way, what would American look like? It's not hard to imagine. Many more people with disabilities and likely seniors as well would be in great poverty to the point of being unable to afford the basic necessities of life. Those with supportive families would put a great strain on them. For those without that kind of support you'd see many more of them homeless, overloading our emergency rooms and soup kitchens, getting sick and dying prematurely. Their politics is the politics of human suffering and misery, except for the privileged few. One of the challenges of our generation is to stand up for human dignity and fight them. Anonymousnoreply@blogger.com