Black People : CAN IT GET ANY WORSE ??

Discussion in 'Black People Open Forum' started by $$RICH$$, Dec 15, 2011.

  1. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    :thinking:

    More Bad News for Social Security
    The program is spending more than it takes in. That's not new. But there's another threat, and it's making things much, much worse.
    Group that's facing substantial cuts

    Social Security spent $49 billion more in 2010 than it took in as tax collections. By the time 2011 ends, it expects to outspend collections by another $46 billion. At this rate, the program's much-touted "Trust Fund" is expected to be depleted by 2036; without that fund, benefits are expected to fall to about three-quarters of current promised levels.

    As bad as that may sound, it's actually business as usual. To cover the massive obligations of the plan, tax rates have risen repeatedly over its history. What started as 2% of the first $3,000 of income (half paid by you, half by your employer) is now scheduled to be 12.4% of the first $110,100 of income in 2012. On top of that, the "full retirement age" is creeping up from 65 to 67, which effectively means younger workers will be paying more for a longer time to get their full benefits.



    See full article from DailyFinance: http://srph.it/u4Rhl0
     
  2. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    can it get any worse ?
    what would be really left for the people are we dome for security after retiring ???
     
  3. Ankhur

    Ankhur Well-Known Member MEMBER

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    It can and it will get alot worse,

    http://destee.com/index.php?threads...e-black-community-from-government-cuts.64431/
    but finanace firms will spin hype and public relations to win their cause
    http://destee.com/index.php?threads...nd-medicare-they-think-theyre-gods-now.61523/

    , but what are the facts of the matter? About SSI?
    Thousands Cheer Bernie Sanders's Appeal to Obama, Super-Committee: Make the Rich Pay for Deficits

    John Nichols on September 18, 2011 - 9:37am ET
    Declaring that “Social Security is the most successful government program in our nation’s history,” and decrying threats to Medicare and Medicaid that would punish Americans who did not cause the current economic crisis, Vermont Senator Bernie Sanders brought thousands of progressives from across the Midwest to their feet Saturday, as they cheered his message to President Obama and the Congressional “super-committee”: “We can deal with deficit reduction in a way that is fair and responsible.”
    “Instead of balancing the budget on the backs of working families, the elderly, the children, the sick and the most vulnerable,” Sanders said, “it is time to ask the wealthiest people and most profitable corporations in this country to pay their fair share.”
    In several speeches to crowds that numbered in the thousands who gathered for Fighting BobFest events in Madison, Wisconsin, Sanders continues to spell out the progressive economic agenda that argues against cuts in Social Security, Medicare and Medicaid to balance budgets and address deficits and for tax policies that end special breaks for the wealthy and multinational corporations that offshore jobs from the United States.
    President Obama is expected to deliver a major speech Monday on deficit reduction, and the White House has indicated that the president’s plan will not include “changes to Social Security.” Sanders is glad of that: “I am delighted that the White House has decided not to cut benefits under the program that has kept millions of retirees out of poverty,” the senators said in Madison. “Social Security has $2.5 trillion surplus, can pay out every benefit for the next twenty-seven years and has not contributed one nickel to the deficit. Social Security should be strengthened, not cut.”
    http://www.thenation.com/blog/16346...-obama-super-committee-make-rich-pay-deficits
     
  4. MimiBelle

    MimiBelle Well-Known Member MEMBER

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    Yeah, probably.

    I only hope that my generation is planning for the worst....
    It was never my intention to rely on social security...just as, imo, an individual whose home is their greatest asset is in trouble.
    Among other things....
     
  5. $$RICH$$

    $$RICH$$ Lyon King Admin. STAFF

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    So I guess America is in deep ish !
    Is this why we should now impower ourselves so that we can embrace
    the worse of our future as well our children even some of us .

    But can we be able to withstand the worse to come or will it much likely dome
    many blacks / families and american people....
     
  6. anAfrican

    anAfrican Well-Known Member MEMBER

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    prolly gonna get worse:
    well, yeah; y'all talking about social security, but then there's this:

    Census shows 1 in 2 people are poor or low-income

    WASHINGTON (AP) - Squeezed by rising living costs, a record number of Americans - nearly 1 in 2 - have fallen into poverty or are scraping by on earnings that classify them as low income.

    The latest census data depict a middle class that's shrinking as unemployment stays high and the government's safety net frays. The new numbers follow years of stagnating wages for the middle class that have hurt millions of workers and families.

    "Safety net programs such as food stamps and tax credits kept poverty from rising even higher in 2010, but for many low-income families with work-related and medical expenses, they are considered too `rich' to qualify," said Sheldon Danziger, a University of Michigan public policy professor who specializes in poverty.
    ...

    Even by traditional measures, many working families are hurting.

    Following the recession that began in late 2007, the share of working families who are low income has risen for three straight years to 31.2 percent, or 10.2 million. That proportion is the highest in at least a decade, up from 27 percent in 2002, according to a new analysis by the Working Poor Families Project and the Population Reference Bureau, a nonprofit research group based in Washington.

    Among low-income families, about one-third were considered poor while the remainder - 6.9 million - earned income just above the poverty line. Many states phase out eligibility for food stamps, Medicaid, tax credit and other government aid programs for low-income Americans as they approach 200 percent of the poverty level.

    The majority of low-income families - 62 percent - spent more than one-third of their earnings on housing, surpassing a common guideline for what is considered affordable. By some census surveys, child-care costs consume close to another one-fifth when a mother works.

    Paychecks for low-income families are shrinking. The inflation-adjusted average earnings for the bottom 20 percent of families have fallen from $16,788 in 1979 to just under $15,000, and earnings for the next 20 percent have remained flat at $37,000. In contrast, higher-income brackets had significant wage growth since 1979, with earnings for the top 5 percent of families climbing 64 percent to more than $313,000.

    A survey of 29 cities conducted by the U.S. Conference of Mayors released Thursday points to a gloomy outlook for those on the lower end of the income scale.

    Many mayors cited the challenges of meeting increased demands for food assistance, expressing particular concern about possible cuts to federal programs such as food stamps and WIC, which assists low-income pregnant women and mothers. Unemployment led the list of causes of hunger in cities, followed by poverty, low wages and high housing costs.

    Across the 29 cities, about 27 percent of people needing emergency food aid did not receive it. Kansas City, Mo.; Nashville, Tenn.; Sacramento, Calif.; and Trenton, N.J., were among the cities that pointed to increases in the cost of food and declining food donations. Mayor Michael McGinn in Seattle cited an unexpected spike in food requests from immigrants and refugees, particularly from Somalia, Burma and Bhutan.

    article is here
     
  7. hartwell

    hartwell Well-Known Member MEMBER

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    You might as well stick a fork in social security it is done. It was a ponzi scheme to begin with these so called elites or illuminati begin raiding it since fdr presidency. Social security will be done away with when I don't know but it will happen and that means negroes will have no choice but to take care of each other like they did back in the old days. That mean if a relative gets sick be it your mother,father or uncle or aunt the younger folk will have to take care of them and feed them.
     
  8. Ankhur

    Ankhur Well-Known Member MEMBER

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    Not a ponzi scheme, since there is 2.5 trillion in the Black not the red, but you are right, and they have been raiding this ice box for munchies, for over a decade, just like they snatch funds form the Post Office.
    The solution is Black Nationalism and we dont have to wait until Kwanzaa for the Nguzo Saba.

    President Obama had planed to sack SSI and Medicaid and Medicare a minute ago.
    He can simply and easily restore the Glass Stegall act!
    without anyone's approval or vote, and he can mandate jobs through an amendment to the constitution put in place by FDR for a WPA every time capitalism drops or sags, to be paid for by Federla Resere Act already on the books that orders the reserve to kick out the money for the people the way they did, for the banks, foreign and domestic.
    And there is no need for SSI or Medicaid or Medicare to be harmed becuase the money is really there!
    Instead the money, as in Orwell's 1984 is going into silly corporate wars of colonization all over the planet.
    According to economist Wayne Masden, on today's "Guns and Butter" on WBAI ,
    the Mid East, and Africa are not enough now he has been building military bases in South America
     
  9. Knowledge Seed

    Knowledge Seed Well-Known Member MEMBER

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    The fact of the matter is that, SS was set up as a "safety net," a lifeline, if you will. I can understand White people getting screwed through this process. Their sheep. They follow the system. But we've been told for decades to "do for self." Did that message go in one ear and out of the other? If it did, those who didn't listen ought to suffer the consequences! Call it a lesson learned.
     
  10. Ankhur

    Ankhur Well-Known Member MEMBER

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    :confused::eek::mad::argue:
    What kind of sick , self hating statement is that??
    You plan to right off 97 percent of the 34 million

    African American brothers and sisters,
    men women and children,
    and elderly just because they did not come up to your standard??
     
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