Comment-we need your thoughts

What is he talking about? Here is my two cents pal.

What is he talking about? Here is my two cents pal.

The most valuable thing about a blog is the exchange of ideas and opinion. Look at our posts and you will see some heated discussion. Why not join the fray?

You may agree or disagree and that’s fine either way. Feel free to ask a question when appropriate.

Please comment in a post or reply to another readers comments.

Advertisements

18 replies »

  1. Thanks for your commentary today on drug companies and doctors. Once HR always HR thinking. I miss those tidbits you used to send out thru the company and on email. It’s true. We watch all these commercials and many ask their doctor for those drugs. I look at the commercials; hear all the side affects and think who would ever take that drug??? And Obamacare; they took $738 BILLION out of our Medicare $$ to pay for the plan and the credits given to mostly under 65’s and then tell us the plan is going broke. My one girlfriend works for RWJ and they changed over to the NEW Horizon plan; she needed orthopedic surgery and they have a group that works in EVERY one of RWJ hospitals but they are not on the plan. So she may have to pay 6000 for the surgery she had AFTER Horizon said they’d cover it.

    Like

    • Yore right, my favorite one is the drug used to treat depression, but a side effect is to increase thoughts of suicide. 😱 I wish I was still sending out those e-mails. I like to think they helped some people.

      Like

  2. I am agreeing with you post on underfunded public pensions. Most long-seniority or retired public employees (the so-called “pension millionaires”) likely realize that promised pensions are unsustainable and THEIR current motive is to “get theirs” before the pension funds and tax aquifers run dry. Keep in mind that it takes $1 million or more set aside to pay a lifetime pension of $60,000 per year and that million increases as you reckon the cost of health benefits and early retirement.

    There might be a possibility for a limited federal “guarantee” that states and municipalities could opt into. I am not talking about a “bailout” where federal money would be involved. I am talking about an insurance program that would protect those public pensions that had been actually earned through long service. The monthly amount guaranteed would be capped at a reasonable amount (say $3000) and pensions derived from spiking, double-dipping, etc. would NOT be covered. Furthermore, to have access to this program, the existing pension fund assets that had been accumulated would have to be turned over to the feds to manage (an independent agency free of congressional raids) plus the states or municipalities would have to pledge a guaranteed revenue stream going forward. The pension millionaires would sue, of course, but hopefully they would pay their own legal fees and the lower-paid employees would prevent use of the pension funds to pay plaintiffs’ lawyers. The main object would be to get the existing pension funds set aside to provide benefits over the long term for all employees rather than have those funds used up in the next 5-10 years.

    Those who claim public pensions in excess of the guaranteed amounts would have their legal claims, of course and union leadership will go bonkers. They will sue once they miss a pension payment and some courts will say that it’s unconstitutional. However, due to the separation of powers doctrine, courts cannot order state legislatures to raise taxes or to appropriate funds for pension benefits for the few. So the pension millionaires will be suing pension plans whose funds have been set aside for everyone in the system. They will also sue cities and school districts that are essentially bankrupt and which (if necessary) can file for bankruptcy. Many of these plaintiffs may learn that their claims are uncollectable and decide to accept the guaranteed amount.

    This idea is “not nice” of course and a lot of peoples’ expectations and plans will be upset. Generally we believe in keeping the promises that are made. However, in the public sector, it’s all the taxpayers who have to part with money to pay people who are retiring in their 50s with COLA-adjusted pensions and lifetime health insurance. These taxpayers have no expectation or hope of pensions and benefits comparable to what has been promised to the pension millionaires. The “fault” probably rests with former legislatures who made large promises to gain votes — but those people don’t have the resources to pay for the damages they have caused … and they probably have immunity from liability in any event. So as a society, we have to work this out in the fairest possible way to everyone.

    Like

  3. I just turned 65 and started Medicare. I am not collecting Social Security. When would I have to start taking Social security Benefits and Paying Part B from Social Security to avoid the Premium Increase.

    Like

    • As I understand it before 1/1/15 assuming your total modified adjusted income is not above the threshold for the supplemental premium. You would have to check with SS for the exact date.

      Like

  4. Last year my daughter had insurance with Obamacare, we helped he by paying additional so she could have A silver plan. Any bronze plan she could have had paid did not have any doctors within 100miles that she could go to. This year she applied and has now dropped below their poverty level. Federal assistance in Obamacare will help only those 100% to 400% of poverty level. Below the Federal poverty level they want you on Medicaid. Medicaid in Florida denied her because she makes too much money working. She could be better off financially and have Medicaid if she quit her job, but wants to improve her situation, not be on relief, and do more with her life!
    One benefit they did give her is an exemption number for her tax filing for 2015, they will not fine her if she has no insurance for the year. Moral here is don’t be too poor or you will get no help at all!
    Another kicker for her is that her work will allow her only 28 hours max a week due to their avoiding providing health care as required for full time employees with the Obamacare law!

    Like

    • You have pinpointed two of the significant flaws in the law. The coverage gap and the incentive to lower hours. No doctors within a 100 miles doesn’t seem right though. I can’t see how the state insurance laws would allow that.

      Like

    • All of the doctors in the Florida Bronze plans are in the west coast area of the state, none on the east coast area where my daughter lives.

      Like

  5. HOW IN THE WORLD CAN YOU SHOW NO RESPECT FOR SENIORS IF YOU DO NOT GIVE US A 3% RAISE
    WE ARE NOT MAKING IT WITH THE CURRENT STATUS Ralph

    Like

    • Respect? What are you talking about? Working people aren’t getting raises in that range. Why do we seniors deserve more and more? Where will the money come from to pay higher COLAs from higher taxes on those trying to raise a family? Seniors had a lifetime to prepare for old age.

      Like

    • FLORIDA CONGRESSMEN 2.9 BILL???? Food for Thought! The USA IS GETTING ABOUT $400 MILLION FROM THE BILLION DOLLAR LOTTERY? OK , I did some MATH from statistic from ssa gov web pages. $882,264,000 annual pay out to 65,098 SSA people. TIMES 2.9 percent equals $25,585,656??? is something wrong?? NO COLA 3 TIMES SINCE 2008 of 4 IN THE LAST 40 YRS. But Federal gets a COLA. JUST SAYING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

      Like

      • Not sure I understand all you are saying, but how do you equate a one-time payment in taxes with an ongoing COLA paid by the SS trust that continues year after year? What happens in year two?

        Like

  6. Obviously this writer voted for Obama and subscribes to the, less work more benefits from the government theory. The fact that she even posted that letter indicates how she perceives her worth and lack of abilities. What a wast of an education which I am sure she worked very hard for.

    Like

  7. I do not have a comment on the above. I wanted to get your thoughts on why everyone is only concentrating their concerns on the amount owed by the student in student loans and not on what I think is also very important…How much the parents take out and will have to pay back into their retirement years. I saved for my children’s college tuition but no where near what it takes now to put them through college. Every year that I get the bill, the amount we receive in aid is less and the cost of the tuition goes up by $5000.00. I figured if things keep going the way they have already, my wife and I will be indebt in the amount of $120,000.00 for my two kids to get a four year degree. Talk about a bubble waiting to happen!

    Like

    • Very good point. I share your experience having put four children through college over ten consecutive years using home equity and then remortgaging and only paying off the loans last year, over ten years after the youngest child graduated ( and when I was age 70).

      But nobody cares about people like us because we are the great minority. Most people either can’t afford to do this or do not feel it’s their responsibility.

      However, it is important to save for retirement first.

      Dick

      Richard D Quinn

      Blog http://www.quinnscommentary.com Twitter @quinnscomments

      >

      Like

  8. Can you explain to me, then, how my grandma, who receives about $600/month in SS is now having about $400 taken out for insurance under Obamacare? She will have about $200 to live on for the entire month. This is not a “what’s gonna happen” rumor, but an “it is now a reality”.

    Like

    • Not sure we have all the facts here. If your grandma is on Medicare, she can’t be on Obamacare and wouldn’t be paying more than the standard Medicare premium. Based on the income you state she may even be dual eligible with Medicaid depending on where she lives. Is she paying for some expensive supplemental coverage? I can see no way out of an income of $600 she is paying $400 for health insurance and certainly not the result of the Affordable Care Act. There appears to be more to this story.

      Like

What's your opinion on this post? Readers would like your point of view.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s