That's just the way it is

fuchsia

Some things will never change. That's just the way it is. Did you watch the Presidential speech tonight? I have some questions that I want to ask. Does anyone recall what his father said? "Read my lips! No new taxes!"

As far as Social Security goes - if you were born before 1950, you're in. You will get the full benefits. How sweet. It just so happens that George W. was born in 1946. Whew, made it! There's looking out for Number One!

Does the President pay into Social Security? Damn straight.

From Social Security Online:

All federal employees (including all members of Congress, the President and Vice President, Federal judges, and most political appointees) hired on or after January 1, 1984 are mandatorily covered under Social Security.

So, as I see it you pay into SS for thirty-odd years. You receive benefits for any years that you live past the set retirement age. It is still a crap shoot. If you paid for thirty years worth of Social Security, but pass away before you receive any benefits - Government won't have to pay back what you put in. (If you have no spouse).

If you live twenty years past retirement, (you paid for thirty, collect for twenty) the Government is ahead by ten years worth.

If you live five years past retirement, (you paid for thirty, collect for five) the Government is ahead by twenty-five years worth.

With the new plan, you can opt to pay into a personal savings account. What happens if you pass away before you withdraw it? Is it treated like a regular savings account? Will you have a beneficiary? Is it treated like an IRA? Will the interest be taxed?

And did it sound as if he was dissing Congress?

"Too often the temptation in Washington is to look at a major issue only in terms of whether it gives one political party an advantage over the other. Social Security is too important for politics as usual. "

and this one:

"So I'm not surprised that some are balking at doing hard work."

Ouch. That must have stung. As opposed to "slacking?"

Moving on to the price of gasoline:

"We will continue to encourage oil-producing nations to maximize their production."

How are we to do that? There is a question I would have liked to have asked. Will you threaten them? Bully them? Coerce them? Kick them where it hurts? Why are they holding back production anyway? Are they holding out for some good old American goodies?


Whatever.

Coming from the speakers: The Way it Is by Bruce Hornsby