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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Haim R. Branisteanu who wrote (8645)2/26/2004 2:11:57 PM
From: benwood  Read Replies (1) of 110194
 
With the advance in age of retirement benefits and the decrease in the amount of SS benefits shielded from income tax, I already expect 37% less benefit that my parents received -- this all based on a study I read a couple years ago. That assumes, of course, that my buying power remains about equal. When you include the shaded down ppi adjustment to SS extended over 20-24 years to when I hopefully would retire, that would further reduce the absolute dollar value to perhaps 50% of what my parents receive now. That's all with current laws and practices. So Greenie is proposing to lower that 50% further, to perhaps 25%? My parents live almost entirely on SS and do not make ends meet -- my sibs and I contribute perhaps 15% of their annual income. The trainwreck for the BBs and their SS at 1/4 to 1/3 of today's retirees combined with the problems of the twin deficits coming home to roost will create an enormous struggling class, in my view, all within the next 10-20 years.
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