INTERESTING: Living longer?

http://www.impactlab.net/2013/07/04/109913/

July 4th, 2013 at 8:15 am
Top 3 challenges of longevity
in: Health & Fitness,Latest Trend,Science & Technology News

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In developed nations people are living longer. There are increases in life expectancy at birth ranging from 2.7 years in Greece to 5.1 years in Ireland, between 1990 and 2010.This longevity rise has been attributed to improving health factors, better lifestyles and medical advances. This is giving us reasons to celebrate, but what are the challenges of living longer?

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Money?

Nursing homes?

Dementia?

Cost of health care?

Seems that the Gooferment has really messed up pensions, Social Security, and now is aiming at health care.

Issue crossword puzzle books to everyone. Sudoku works for the Japanese.

Argh!

Money is a whole other issue. Keep working, slave!

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MONEY: The political counter-party risk in Social Security

http://www.obliviousinvestor.com/the-political-risk-of-delaying-social-security-until-70/

The Political Risk of Delaying Social Security Until 70
via Oblivious Investor by Mike on 5/6/13

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Some people argue that holding off on claiming Social Security is akin to betting that there won’t be any rule changes. I don’t think that’s true. While certain Social Security reforms would make it advantageous to claim earlier, other reforms wouldn’t change the decision at all, and others could actually make it more advantageous to delay claiming benefits.

The five potential Social Security reforms that I see suggested most often are:

Increasing or eliminating the payroll tax cap,
Increasing the payroll tax rate,
Increasing the full retirement age,
Means testing benefits in some way, and
Switching from regular CPI to chained CPI for calculating cost of living adjustments.

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One would hope that once you begin to collect that “they” won’t change the rules ex post facto.

We now that they can and do (i.e., the taxability of benefits).

But the Sheeple and Clover let them get away with it.

Argh!

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MONEY: Don’t think your employer pays anything; you do!

Ignore taxes and benefits and anything other than the value equation.

Assume for a minute that an employee generate $100 of value for an employer.

And, that is the basis of the deal they strike.

Let’s say the employer is generous and give the employee ½ and keeps the other ½.

Employee winds up with $50.

Now lets factor in ONLY social security tax. (12.4% “split” 50/50)

Same value equation.

The $50 “earned” by the employee.

$6.20 split 50/50? 3.60 each.

So the employee gets $46.40, the Gooferment gets $6.20, and the employer retains a value of $46.40.

If to do the deal the employee has to give the employer $50 of value, then the employee has to be willing to take less.

So the employee has to be willing to take $43.80 so that the employer gets $50.

Cut through the illusion that the employer “pays half”!

The employee’s value equation is reduced by the tax that the employer pays.

Each deduction from your pay obviously you pay. But, every dollar your employer puts out on your behalf, ALSO, comes out of YOUR pocket.

Benefits are a bigger scam.

Remember that EVERYTHING comes out of your (the employee’s side of the value equation).

So any benefit that the employer “gives” you, you’re paying for.

And, for example, in the case of health benefits, the employer gets a tax deduction.

But, if you buy them, you don’t. (Yeah schedule A maybe after the % take back.)

How about life insurance? Same thing! They get a tax deduction on your money. And, that’s not deductible to you ever.

Argh!

It’s a rigged game and employees think the employer is being “magnanimous”.

Every item is like that: pension, 401k contribution, … everything has an angle that favors the employer.

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