Railroad Retirement vs Social Security

[oltmannd]

jeffhergert

 

 

Norm48327

 

 

jeffhergert

Paul Ryan, for one.

 

 

Paul Ryan = RINO.

 

 

 

 

Thank you for reminding me why I changed to being registered as an Independent. 

As the reasons for merging the two are mostly budget tricks and all political, maybe it's time to lock this thread.

Jeff 

 

+1

[jeffhergert]

Norm48327

 

 

jeffhergert

Paul Ryan, for one.

 

 

Paul Ryan = RINO.

 

Thank you for reminding me why I changed to being registered as an Independent. 

As the reasons for merging the two are mostly budget tricks and all political, maybe it's time to lock this thread.

Jeff 

[Euclid]

tree68

 

Euclid

But what I would like to know is this:  What is the stated reasons why RR should be merged with SS? 

As with any political move, there are two reasons - those the politicians give to justify the action (which will supposedly benefit all involved)...    

 

That is what I want to hear.  I am fully aware of why people oppose it. 

 

I am just asking if someone could give me the thumbnail synopsis of the case being made for merging RR with SS.  I could spend a couple days researching it, but surely someone here has the quick answer. 

 

I am not asking whether the case for merger is justified or honest.  I am only asking what it is. 

[tree68]

Euclid

But what I would like to know is this:  What is the stated reasons why RR should be merged with SS? 

As with any political move, there are two reasons - those the politicians give to justify the action (which will supposedly benefit all involved), and the the real reasons (which, if revealed would deep six the action faster than you-know-what).  

The real reason has likely already been discussed here.  I doubt you'll hear any politicians bring it up.

[Norm48327]

jeffhergert

Paul Ryan, for one.

Paul Ryan = RINO.

[Deggesty]

Euclid

I can certainly see why people with RR would oppose merging with SS.  SS is quickly going broke; probably much sooner than is commonly predicted. 

But what I would like to know is this:  What is the stated reasons why RR should be merged with SS? 

 

Yes, why would anyone want to merge the two?

[Euclid]

I can certainly see why people with RR would oppose merging with SS.  SS is quickly going broke; probably much sooner than is commonly predicted. 

But what I would like to know is this:  What is the stated reasons why RR should be merged with SS? 

[wanswheel]

[jeffhergert]

Euclid

 

 

ACY

 

Euclid

 

 

PNWRMNM

If RR is merged with SS, rail employees will get robbed comming and going. That is the arguement against it. 

Mac McCulloch

 

 

So who, if anybody, is advocating merging Railroad Retirement with Social Security?

 

 

 

 

Lots of folks in the GOP.

Tom

 

 

 

 

Like who?  What reason do they give?

 

Paul Ryan, for one.

http://www.ble-t.org/ryanbudget/

Jeff

[Euclid]

ACY

 

Euclid

 

 

PNWRMNM

If RR is merged with SS, rail employees will get robbed comming and going. That is the arguement against it. 

Mac McCulloch

 

 

So who, if anybody, is advocating merging Railroad Retirement with Social Security?

 

 

 

 

Lots of folks in the GOP.

Tom

 

Like who?  What reason do they give?

[ACY Tom]

Euclid

 

 

PNWRMNM

If RR is merged with SS, rail employees will get robbed comming and going. That is the arguement against it. 

Mac McCulloch

 

 

So who, if anybody, is advocating merging Railroad Retirement with Social Security?

 

Lots of folks in the GOP.

Tom

[Euclid]

PNWRMNM

If RR is merged with SS, rail employees will get robbed comming and going. That is the arguement against it. 

Mac McCulloch

So who, if anybody, is advocating merging Railroad Retirement with Social Security?

[oltmannd]

Social Security and Railroad Retirement already are merged....sort of.

Tier One of Railroad Retirement is exactly the same as Social Security in terms of tax and benefits (except for the 60 years old/30 years service early retirement provision of RR).  In fact, if you work a railroad job and then quit and work a "normal" job, you Tier One contributions count toward Social Security. Tier One is also taxed and ajusted for cost of living just like SS. 

The Tier One funds are mergered, I believe.

RR Tier Two is a different deal.  It's its own fund maintianed by fixed employee and variable employer contributions. It is treated like a defined pension benefit by the IRS. It's cost of living adjustment is only about 1/3 of Tier One.  Also, if you don't finish your career with a railroad, you lose all Tier Two benefits.

The Tier Two funds can't be mergered any more than any other pension plan could be mergered with SS.

[PNWRMNM]

Railroad employees, and their employers, both pay MUCH higher tax rates for MUCH higher payouts upon retirement. My wife and I can actually live as well on my railroad retirement as we did when I was working, which is not be possible with social security.

While both are Ponzi schemes in that they tax current employees to pay past employees, IIRC when congress introduced the 60/30 full retirement option, they also allowed temporary surplus funds to be invested in the real economy, which of course social security can not do as their surpluses have all been "loaned" to the US Govt. Now that there are far fewer workers relative to retirees in SS, the Govt will soon have to raise taxes or borrow more from the Chicoms to pay Social Security.

If RR is merged with SS, rail employees will get robbed comming and going. That is the arguement against it. 

Mac McCulloch

[BOB WITHORN]

TREE,

 

+1

 

Bob

[tree68]

I'm guessing here, but I'd opine that it might have something to do with SS having been looted and a fear that RR retirement might be seen by some as another source of funds for said looting...

[CMStPnP]

OK so what is the major argument against merging RRB into Social Security?