Attention all US Airways Pilots With Capped Retirement From PBGC

[usa1]

US Airways Employees (Private Sector) beware ..... Public Sector untouched? Why?

Center for Economic & Policy Research

Center for Economic & Policy Research Link


Under 55 Year Olds: Find $182,000 Before You Retire to Pay for the GOP Medicare Plan

WASHINGTON, D.C. – A 54-year-old today will have to save an additional $182,000 in their IRA or 401(k) before he or she retires just to pay for the House Republican plan to eliminate Medicare, an analysis released today by U.S. Rep. George Miller found.

The Center for Economic and Policy Research (CEPR) estimated that individuals born in 1957 would need $182,000 by the time they retire at 65 to pay the additional costs imposed by the Republican plan if they live to 84. The analysis was included in a letter to Rep. Miller.

“Under the Republican plan, seniors will go into debt. They will be forced to sell their homes that they spent a lifetime paying off. And they will have to rely on their children just to pay for basic medical care,” said Miller. “This is not what anyone would envision as a dignified retirement.”

Last month, House Republicans voted to end the Medicare program, which offers guaranteed benefits, and replace it with a plan that would force seniors to find private insurance with the assistance of a voucher. Since the voucher’s value relative to health care costs would decrease over time and private insurance costs are higher than traditional Medicare, seniors retiring in 2022 under the Republican plan would be forced to pay much higher costs than under current law.

As a result, CEPR found that the average senior beginning in 2022 would have to save $182,000 to cover these additional costs, assuming a return of 3 percent in real interest during their retirement years.

“Congress needs to make sure Medicare is sustainable for seniors in the future and sustainable for taxpayers. We took a substantial step towards this goal through the Affordable Care Act,” said Miller. “But, a few things are certain: you don’t save Medicare by abolishing it. And you don’t help seniors have a dignified retirement by forcing them into poverty.”

Approximately half of all workers do not have any retirement savings at all. The Employee Benefits Research Institute estimates that the average retirement savings shortfall was more than $47,000 per individual in 2010.

Public sector needs to join US Airways employees in the PBGC and Medicare programs.

 

[CallawayGolf]

US Airways Employees (Private Sector) beware ..... Public Sector untouched? Why?


Approximately half of all workers do not have any retirement savings at all. The Employee Benefits Research Institute estimates that the average retirement savings shortfall was more than $47,000 per individual in 2010.

Perhaps if someone wants a "dignified retirement" they need to start by saving and investing throughout their working years rather than expecting strangers (taxpayers) to pay for their retirement and health care costs for them. In other words, Medicare supporters must think it is great to live profligately for 40-60 years and take no personal responsibility for themselves in the expectation that “someone else should take care of my needs even when I won’t”. So fifty percent of Americans have lived so selfishly for their whole lives as to do absolutely nothing to prepare for retirement because they believe government ought to force the next generation(s) to contribute to their selfishness? Exactly how is it more “dignified” to have strangers contribute t by compulsion rather than having your own children provide you with assistance? The same generation that created this mess by voting in liberal politicians that created these unsustainable entitlements is also the one protesting the loudest that those entitlements belong to them and no one should ever admit that the system they foolishly supported is nothing but a Ponzi scheme. I wonder if I can go buy an Audi R8 and then ask all of my neighbors to pay for it because, hey I deserve a $100k sports car and they should be compelled to give me what I want. Otherwise life just isn’t fair.

 

[nycbusdriver]

Perhaps if someone wants a "dignified retirement" they need to start by saving and investing throughout their working years rather than expecting strangers (taxpayers) to pay for their retirement and health care costs for them. In other words, Medicare supporters must think it is great to live profligately for 40-60 years and take no personal responsibility for themselves in the expectation that “someone else should take care of my needs even when I won’t”. So fifty percent of Americans have lived so selfishly for their whole lives as to do absolutely nothing to prepare for retirement because they believe government ought to force the next generation(s) to contribute to their selfishness? Exactly how is it more “dignified” to have strangers contribute t by compulsion rather than having your own children provide you with assistance? The same generation that created this mess by voting in liberal politicians that created these unsustainable entitlements is also the one protesting the loudest that those entitlements belong to them and no one should ever admit that the system they foolishly supported is nothing but a Ponzi scheme. I wonder if I can go buy an Audi R8 and then ask all of my neighbors to pay for it because, hey I deserve a $100k sports car and they should be compelled to give me what I want. Otherwise life just isn’t fair.

What about those folks who don't live "profligately" for any of their earning years? Those who have to scrape by on minimum wage because they are not as intellectually gifted as you (or your parents?) Do we just shove them to the curb and let them die?

I wonder if you, like the vast majority of people in this country, call your self a Christian? What, indeed, would Jesus do for those people?

Sitting in a church on Sunday does not make one Christian any more than sitting in a garage makes one a car.

 

[700UW]

Wow, I actually agree with you NYC, has hell frozen over? lol

Great post.

 

[CallawayGolf]

What about those folks who don't live "profligately" for any of their earning years? Those who have to scrape by on minimum wage because they are not as intellectually gifted as you (or your parents?) Do we just shove them to the curb and let them die?

I wonder if you, like the vast majority of people in this country, call your self a Christian? What, indeed, would Jesus do for those people?

Sitting in a church on Sunday does not make one Christian any more than sitting in a garage makes one a car.

Funny how I see people who earn minimum wage spending more on beer, cigarettes and fast food than I would ever dream of spending so I seriously doubt the scraping by part and the fact that over an entire career they couldn't put a single dollar away for the future. Besides, the report said fifty percent have saved nothing and very few people make minimum wage as a percent of the population and even fewer earn minimum wage for their entire working life.

That aside, I absolutely do not advocate shoving anyone to the curb and letting them die. I am a Christian (thanks for asking) and I believe Jesus and the Apostles clearly taught about the need for the church to take care of orphans, widows and those who are unable to care for themselves. However, Jesus didn't suggest in any manner that He thought that it was an impersonal government or national program that was missing in the Jewish/Roman cultures. He commanded the church and individual Christians to care for those in need because that is the heart of God to love and care for others. Of course Paul also taught that if a man does not provide for the needs of his own family, he should not be cared for by the church because that is also an individual responsibility and those who can work and provide for themselves should do so.

Given all of the gross mismanagement of public funds and the continued lack of responsibility of spending nearly 40 percent more than the government can take in for years upon years, by both parties, we either need to make these kinds of changes or we will wish we had it as well as Greece does in a few years. The recent increase to the debt limit and FY budget has prompted me to start writing a book on this subject. That is, how can we correct these bloated and disastrous entitlement programs without causing undue harm to those who are now trapped by their own poor decisions along with the insane policies of Washington. I hope to have this completed by the fall. A dramatic course reversal is certainly in order, but I am not in any way advocating putting people in harms way.

 

[Pi brat]

Funny how I see people who earn minimum wage spending more on beer, cigarettes and fast food than I would ever dream of spending so I seriously doubt the scraping by part and the fact that over an entire career they couldn't put a single dollar away for the future. Besides, the report said fifty percent have saved nothing and very few people make minimum wage as a percent of the population and even fewer earn minimum wage for their entire working life.

That aside, I absolutely do not advocate shoving anyone to the curb and letting them die. I am a Christian (thanks for asking) and I believe Jesus and the Apostles clearly taught about the need for the church to take care of orphans, widows and those who are unable to care for themselves. However, Jesus didn't suggest in any manner that He thought that it was an impersonal government or national program that was missing in the Jewish/Roman cultures. He commanded the church and individual Christians to care for those in need because that is the heart of God to love and care for others. Of course Paul also taught that if a man does not provide for the needs of his own family, he should not be cared for by the church because that is also an individual responsibility and those who can work and provide for themselves should do so.

Given all of the gross mismanagement of public funds and the continued lack of responsibility of spending nearly 40 percent more than the government can take in for years upon years, by both parties, we either need to make these kinds of changes or we will wish we had it as well as Greece does in a few years. The recent increase to the debt limit and FY budget has prompted me to start writing a book on this subject. That is, how can we correct these bloated and disastrous entitlement programs without causing undue harm to those who are now trapped by their own poor decisions along with the insane policies of Washington. I hope to have this completed by the fall. A dramatic course reversal is certainly in order, but I am not in any way advocating putting people in harms way.

The last church I attended put a pitiful % of its income towards outreach. How about yours? Ready to pick up the tab?

 

[CallawayGolf]

The last church I attended put a pitiful % of its income towards outreach. How about yours? Ready to pick up the tab?

Absolutely. Of course a pitiful number of Christians actually practice tithing too. Imagine what churches could do for helping people if everyone actually contributed what Scripture teaches us to. I'm not saying there is a direct correlation, but when federal, state, local taxes on income, SSI, Medicare, property, sales, gas, and everything else they can find add up to 40-70 percent of a family's income then I have some sympathy for not voluntarily giving another ten percent to the church leaving you with even less. We tithe and even give over and above that, but we are in the minority. If the government stops the insane level of taxation I have no doubt the churches in this country would gladly pick up much slack in caring for the needs of others.

 

[LD3]

Public sector needs to join US Airways employees in the PBGC and Medicare programs.

Sorry usa1, still not feeling it!!! Your company not the public sector took advantage of the BK laws.... Why are you wasting your time complaining about us and not complaining about the bailouts that the auto industry and the banks took....

 

[im back..!!]

Sorry usa1, still not feeling it!!! Your company not the public sector took advantage of the BK laws.... Why are you wasting your time complaining about us and not complaining about the bailouts that the auto industry and the banks took....

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Maybe He is thinking that if the pbgc and social dont cover minor expenses, its time to throw in the towel....as in: a high powered rifle and a clock tower!! I forsee a few demonstrations of mass equality, everybody falls the same, in the future of this once great coiuntry...

but: that is just an opimion, not to get arroused by it.....i assume as usual. most will write it off....

 

[signals]

What about those folks who don't live "profligately" for any of their earning years? Those who have to scrape by on minimum wage because they are not as intellectually gifted as you (or your parents?) Do we just shove them to the curb and let them die?

I wonder if you, like the vast majority of people in this country, call your self a Christian? What, indeed, would Jesus do for those people?

Sitting in a church on Sunday does not make one Christian any more than sitting in a garage makes one a car.

I'm not Jesus, I'm human and prone to mistakes. I tire of the WWJD response, because I'm not anymore Jesus than you are Parker.

 

[signals]

Absolutely. Of course a pitiful number of Christians actually practice tithing too. Imagine what churches could do for helping people if everyone actually contributed what Scripture teaches us to. I'm not saying there is a direct correlation, but when federal, state, local taxes on income, SSI, Medicare, property, sales, gas, and everything else they can find add up to 40-70 percent of a family's income then I have some sympathy for not voluntarily giving another ten percent to the church leaving you with even less. We tithe and even give over and above that, but we are in the minority. If the government stops the insane level of taxation I have no doubt the churches in this country would gladly pick up much slack in caring for the needs of others.

Churches have made tithing to mean $$$$$$ 😉

Tithing is basically giving a percentage of yourself meaning time, money, food, beverage, and anything you offer to a stranger in need. Everyone thinks that money is the answer to everything. In the case of this thread, yes, money is everything. But if you want to take it to a 'church' level, then leave your love for money at the door, because that "LOVE" is the root of all evil 😛

 

[700UW]

If cut out every passage in the bible where Jesus says to help the poor, you would have a holes in the bible, there are hundreds of verses.

And society has lost sight, read the book "holes in the bible" it will open your eyes.

 

[usa1]

We have a Hugh population in this country that have made "not working a career". Subsidized housing, food stamps, welfare, medicaid, money for having baby's by three different fathers. They need to be cut off ... made hungry. If they are smart enough to scam the system they are smart enough to clean floors. If "they" were forced to work the "illegal's" would go home.

Proverbs 16:26
It is good for workers to have an appetite; an empty stomach drives them on.

America is nothing more than a subsidized free for all!

All I've been saying here is treat the public sector just like the private sector .... we are all in this together. If the PBGC and all it's caps are good enough for the private sector, they're good enough for the public side.

Fix the all other problems before coming back to take the SS and Medicare benefits from hard working "private sector" employee's at US Airways.

 

[nycbusdriver]

Funny how I see people who earn minimum wage spending more on beer, cigarettes and fast food than I would ever dream of spending so I seriously doubt the scraping by part and the fact that over an entire career they couldn't put a single dollar away for the future.

Really? Do you interview these people to find out if they actually can afford what you are seeing them purchase, or do you make that determination through a prejudicial observation of their clothing or demeanor? Would Jesus stereotype?

 

[usa1]

Funny how I see people who earn minimum wage spending more on beer, cigarettes and fast food than I would ever dream of spending so I seriously doubt the scraping by part and the fact that over an entire career they couldn't put a single dollar away for the future.

Cut out their subsidized housing, food stamps, welfare, medicaid, money for having baby's by three different fathers ... and they would buy food instead of beer with the cash "they work for". 😉 They buy beer because food stamps keep them fat and happy. :blink: