Join me @ IBOtoolbox for free.
Bill Bateman
Member Since: 1/15/2012
   

VERIFIED IBO CONTRIBUTOR!
performance / stats
Country: United States
Likes Received: 26274
Featured Member: 44 times
Associates: 15396
Wall Posts: 12827
Comments Made: 41492
Press Releases: 1833
Videos: 19
Phone: 505-450-1574
Skype:     billbateman1
profile visitor stats
TODAY: 105
THIS MONTH: 11710
TOTAL: 3004446
are we ibo associates?
business links
member advertising
active associates
Whitney Jacqueline       
Last logged on: 11/19/2018


Dorothy Allen    
Last logged on: 11/19/2018


Linda Michel White       
Last logged on: 11/19/2018


Peter Paterson     
Last logged on: 11/19/2018


victor chukwuemeka    
Last logged on: 11/19/2018


George L. Turner Jr.     
Last logged on: 11/19/2018


New Macro JobHouseRanger    
Last logged on: 11/19/2018


Samuel Stokes    
Last logged on: 11/19/2018


Velma Joseph     
Last logged on: 11/19/2018


Melissa Diaz    
Last logged on: 11/19/2018


Colin Jooste    
Last logged on: 11/19/2018


Athena Gay    
Last logged on: 11/19/2018


Eugene Wallace     
Last logged on: 11/19/2018


Perry Brown    
Last logged on: 11/19/2018


Byron Darensburg    
Last logged on: 11/19/2018


other ibo platforms






Bill Bateman   My Press Releases

Don't rely on Social Security

Published on 7/14/2017
For additional information  Click Here

Ninety-nine percent of the failures come from people who have the habit of making excuses.” George Washington Carver

If you go to the Social Security Administration’s site you’ll find some disturbing facts that many Americans are either unaware of or in denial over. Namely…

Social Security is going broke

You can see this statement

”benefits are now expected to be payable in full on a timely basis until 2037, when the trust fund reserves are projected to become exhausted. At the point where the reserves are used up, continuing taxes are expected to be enough to pay 76 percent of scheduled benefits. Thus, the Congress will need to make changes to the scheduled benefits and revenue sources for the program in the future. The Social Security Board of Trustees project that changes equivalent to an immediate reduction in benefits of about 13 percent, or an immediate increase in the combined payroll tax rate from 12.4 percent to 14.4 percent, or some combination of these changes, would be sufficient to allow full payment of the scheduled benefits for the next 75 years.”

The Average Social Security Monthly retirement check this year is  $1,322 or $15,864 a year. Imagine an actual decrease of 24 percent! That same person would lose $3,807 in income.

Unfortunately, Social Security benefits represent about 38% of the income of US individuals 65 and older, and a significant percentage of the elderly (22% of married couples and 47% of singles) rely on Social Security for more than 90% of their income.

Another way the politicians may propose to solve the problem is to increase taxes by about 2 percent of income instead of decreasing benefits.

With the average household income in America at about $52,000 a year that would be about a $1,000 a year increase in taxes.

But the argument for increasing taxes gets harder to pass as the age gap widens in America. Young people already assume that THEY will get NO benefit from Social Security and understandably object to having to pay more for something they will never benefit from.

Regardless of what solution comes out of Washington DC, the average non-government employee in America will either be…

  • paying more in taxes or
  • getting less in benefits or
  • some of both

American’s are still “greatly blessed and highly favored” compared to most of the world. But it’s clear that many American’s will need more income just to “maintain” in future years.

So if YOU are in business, keep that in mind.

There is always opportunity in crisis.

 

Bill Bateman - like “Batman” with an “E” in the middle I often tell folks on the phone

 

PS - When you get up each day do you focus on the most important, highest payoff tasks or get bogged down in the “busy work”? Most people need a system or a coach to keep them focused. Simpleology is the system many of the most effective Entrepreneurs in the world use and have used for over 2 decades. Take a look, there’s a free trial and a free version after the trial. The paid version is what I use because it best serves MY needs. Click HERE to take a look - and feel free to contact me if you have a question

Member Note: To comment on this PR, simply click reply on the owners main post below.
-  Copyright 2016 IBOsocial  -            Part of the IBOtoolbox family of sites.