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General Motors Company Message Board

  • scarbrobill scarbrobill Aug 4, 2013 9:11 AM Flag

    Seniors on fixed income

    You are in big trouble. Unions and the gov't are driving hard to raise the Minimum Wage 24%.. The cost of all goods and services goes up. Every one gets a raise in their income except you. It appears the gov't wants to hurry you up to the grave yard. They are pushing you very, very rapidly into abject POVERTY. Most of you are trying to live on SS only.
    Since Obama is great at mandating, he should mandate that all the retirement funds up your retirement what he wants to raise MW, 24%.
    Gov't and union are not on the side of seniors on fixed incomes. .

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    • Right now the old are making nothing in interest on there money as well. A quick up tick in inflation and it won't be good for the I'm going to live to 100 crowd.

    • Seniors are doing better than young people (who are more likely than not to be in unskilled or entry level
      positions). Said young people are paying social security taxes which are forwarded to seniors. I am not
      for raising the minimum wage because it reduces employment opportunities. It does not act to raise
      prices. Ben is printing gobs of money and that will sooner or later act to raise prices regardless of what
      is done with the minimum wage law.

      By now, seniors should have read Howard Ruff and gotten themselves up to speed on how to protect
      during the coming bad years. If they have failed in this measure, I don't think restraining minimum wage
      advances will keep them upright.

      • 2 Replies to bunkferd
      • I agree with that their are some real reasons to raise minimum wages.

      • I have to give bunkferd a thumbs up on this one. Most seniors were raised when the word Family meant something they had hard working parents. They didn't have pot heads for parents, like too many of our young people today. They didn't have gasoline prices that jump 30 to 50 cents in one day. Most seniors worked hard and saved for their old age. But now if the kids have parents they have to have all the latest Electroic junk instead of saving. Lack of family and wanting teachers to be the parents instead of part of the educators with the parents. Teachings starts at home and in too many cases this isn't happening. Now don't get me wrong we still have some good parents and famlies, but the % is getting less everyday. In the end you don't have to worry about most seniors.

    • Remember the Government doesn't count Food and Energy as inflation. Wall Street creates inflation.
      Friday June 28 GAS 2.7156-0.0125
      WTI 96.56-0.49 Brent 102.16-0.66
      Wednesday July 10 Gas 3.0137+0.0877
      WTI 106.51+2.98 Brent 108.43+0.62
      Friday July 12 Gas 3.1140 +0.0926
      WTI 106.02 +1.11 Brent 108.84+1.11
      Tuesday July 16 Gas 3.1333+0.0404
      Wednesday July 17 Gas 3.1113- 0.0230
      WTI 106.50+ 0.50 Brent 108.63+0.49
      Thursday July 18 Gas 3.13 +0.02
      WTI 108.04+1.56 Brent 108.70+0.09
      July 22 Gasoline 3.0555-0.0679
      WTI 106.73-1.32 Brent 108.06-0.01
      July 24 Gasoline 1.0538-0.0053
      WTI 105.42-1.81 Brent 107.13-1.29
      Monday July 29 Gasoline 3.01-0.03
      WTI 104.55-0.15 Brent 107.45+0.28
      Wednesday July 31 Gasoline 3.04+0.03
      WTI 105.03+1.95 Brent 107.70+0.79
      Thursday Aug 1 Gasoline 3.04+0.04
      WTI 107.86+2.86 Brent 109.54 + 1.84
      Friday August 2 Gasoline 2.9904-0.380
      WTI 106.75-1.14 Brent 108.74-0.70
      Labor had nothing to do with the Energy Inflation, crooks on Wall Street did.

    • If inflation rises so will the increase in yearly S/S benefits!

      • 2 Replies to formore9
      • ((((If inflation rises so will the increase in yearly S/S benefits!))))

        You are correct. This is a major reason the govt is lying about the inflation rate. If we calculated it the original way, inflation would probably be running at a 6-10% clip.

        It is easy for a politician to get away with lying that inflation is 2% so therefore you get a tiny Soc Sec increase.

        It is VERY hard to get away with saying, "Inflation is 6-10% but we must cut the COLA in your Soc Sec."

        Thus, they invented a new CPI that is not calculated the same way. The govt essentially unweighted various components of the index to hide real world increases in those areas, as a way to avoid paying what they promised to pay..


        Sentiment: Strong Sell

      • If you live on SS then you are screwed already, SS is not a retirement plan it's to keep old people from ending up in the streets homeless and dying.

36.74-0.76(-2.03%)Apr 1 4:01 PMEDT