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07:32 PM
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Obama's new social security cuts: removes essentially 3 months pay out of a year.
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[quote:Anonymous Coward 30723293:MV8yMDkyNDYxXzM1MjI3MTY0X0QxMUUyMkM4] Regardless of which side of this issue you are on, ALL of us will soon be toast. The plan being hacked out behind the scenes will integrate ALL of the 401ks, IRAs, and other private pensions into one big pie. Those private funds are the last source of wealth left in the country. Yup, the country is THAT BROKE. All the confiscation of those funds will do is buy a couple more years. SS as we know it will be phased out by the end of the present president’s term. Regardless of what your status is now, ONLY ONE check will be issued by the gov’t. What you will receive will be dependent on a “means testing” formula developed by the big-dogs. AND to put some icing on the cake, don’t forget about the Amnesty Kard. Right now the number of illegals in the U.S. is pushing 40 million. If anyone doubts that, stop drinking the Kool-Aide. After the current crop of Illegals are awarded U.S. citizenship, they will be issued SS numbers and begin enjoying all of the miraculous benefits the rest of us can provide for them. After that, they will be allowed to bring all of their shirt-tail relatives into the country and those will also be absorbed into the social safety net. This is to preserve their “family” values and enhance their sense of citizenship. So, that’s at least 100 MILLION new happy campers! And, lets not forget about the people of strong mid-eastern decent the president intends to grant citizenship to. Let your imagination run wild with that one. Expect about 200 MILLION new “citizens” to be enjoying YOUR nice, cushy lifestyles within a couple of years. Anybody buy into the propaganda that was spouted by the MSM when the president reduced SS taxes so the common folk could use those few extra $$s per week to “stimulate” the economy? Hmmm . . . . Take the longer view of that. It was all a sham to further reduce the funds going into the SS “trust fund”, thus accelerating its demise. What a brilliant move, eh?? So get used to it. Right now, this is as good as it will ever get. [/quote]
Original Message
According to the AARP, "A typical 80-year-old woman will lose the equivalent of three months worth of food annually" under this plan.
This is a bad deal for current retirees. And it'll hit future retirees even harder, because the proposal cuts Social Security more and more with each passing year. After 10 years, benefits would be cut by about $500 a year for the average retiree. After 20 years, benefits would be cut by about $1,000 a year. And beyond that, it just gets worse.
[
link to www.aarp.org
]
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