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You Need to Do More Now
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
wealthwire.com / By Adam English / Thursday, April 25th, 2013
In the last couple weeks, we’ve taken a look at how the Social Security Disability Insurance program has been abused and depleted and why you should have a healthy fear of inflation.
Now it’s time to put it all together and provide some real numbers showing how these issues are going to directly affect you…
The Social Security Disability Insurance program will be depleted within a few years. Social Security will be tapped out in the mid-2030s. That means one thing: The government will soon raise taxes — and is definitely going to hand you a hefty pay cut.
Everything is aligning behind a change to the system that will pull thousands from you through income taxes, the standard deduction, contribution limits for 401(k)s, and eventually Social Security while you are retired.
President Obama is introducing it with his new budget. Republicans in Congress have endorsed the idea, and the brand-new Simpsons-Bowles compromise proposal uses it as well. Basically, it is going into effect whenever politicians can get their act together and pass any kind of budget agreement.
How does this relate to inflation, you ask?
We’re talking about C-CPI-U, or the “chained consumer price index — urban.” The changes are seemingly minute. On paper, we’re just going to have an even exchange between obscure equations that are basically the same.
But that’s the whole point: If the general public can’t understand it, they don’t pay attention to it. If they don’t pay attention to it, they won’t punish politicians for it.
Keep in mind… this wouldn’t have surfaced if it didn’t result in large cuts to benefits over time.
In other words, you’re going to be responsible for a much larger portion of your retirement funds.
Thanks to BrotherJohnF
2013-04-25 11:01:09
Source: http://silveristhenew.com/2013/04/25/you-need-to-do-more-now/
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