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Senator Cassidy and Senator Angus King are taking charge on SS reform
Posted on 2/27/23 at 7:56 pm
Posted on 2/27/23 at 7:56 pm
quote:
A bipartisan group led by Sens. Angus King, I-Maine, and Bill Cassidy, R-La. is considering gradually raising the retirement age to about 70 as part of their legislation to overhaul Social Security, Semafor has learned from two people briefed on their efforts.
Other options on the table include changing the existing formula that calculates monthly benefits from one based on a worker’s average earnings over 35 years to a different formula that’s based instead on the number of years spent working and paying into Social Security.
The plan also includes a proposed sovereign wealth fund (as previously reported by Semafor) that could be seeded with $1.5 trillion or more in borrowed money to jumpstart stock investments, the people said. If it fails to generate an 8% return, both the maximum taxable income and the payroll tax rate would be increased to ensure Social Security stays on track to be solvent another 75 years.
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Posted on 2/27/23 at 7:59 pm to HailHailtoMichigan!
quote:
Senator Cassidy
Posted on 2/27/23 at 7:59 pm to HailHailtoMichigan!
I'm all for this but these guys are complete idiots
Free advertising for democrats to run on
Free advertising for democrats to run on
Posted on 2/27/23 at 7:59 pm to HailHailtoMichigan!
It'll be taxed as 120% of earned income for a retirement age of 140 by the time I even get to start thinking about getting any of it back.
Posted on 2/27/23 at 8:00 pm to HailHailtoMichigan!
I'm glad I don't pay into that shite anymore.
And as a Gen Xer, I'm not counting on receiving a penny from SS.
And as a Gen Xer, I'm not counting on receiving a penny from SS.
Posted on 2/27/23 at 8:00 pm to HailHailtoMichigan!
I don't trust politcians, any of them.
Just tell frickhead Biden to back off the Ukranie cash burn, stop the student loan debacle, and go get the $90 Billion of military equipment left in Afgahn.....and SS will be funded!
DC needs to get a brain.
Just tell frickhead Biden to back off the Ukranie cash burn, stop the student loan debacle, and go get the $90 Billion of military equipment left in Afgahn.....and SS will be funded!
DC needs to get a brain.
This post was edited on 2/27/23 at 8:05 pm
Posted on 2/27/23 at 8:01 pm to HailHailtoMichigan!
A pair of lousy frickstains.
Posted on 2/27/23 at 8:02 pm to oldskule
Is Angus King his real name?
Posted on 2/27/23 at 8:02 pm to Lou Pai
quote:
Free advertising for democrats to run on
They'll get plenty of that on the abortion issue alone.
Posted on 2/27/23 at 8:03 pm to Lou Pai
quote:
I'm all for this but these guys are complete idiots
Free advertising for democrats to run on
a variation on the Miss Linsey abortion proposal right before the midterms?
Any "reforms" will be reversed after the following landslide against them in the next cycle because the electorate has the foresight of a sheep scheduled for slaughter next Wednesday.
Posted on 2/27/23 at 8:04 pm to HailHailtoMichigan!
Senator Angus
Posted on 2/27/23 at 8:06 pm to HailHailtoMichigan!
Hasn’t been a man in my family make it to 70 in 3 generations guess I’ll be paying for someone else’s check
Posted on 2/27/23 at 8:09 pm to HailHailtoMichigan!
Life expectancy in the US is like 77 years right now. Yes let’s make everyone pay into something for almost 50 years only to get maybe 7 or 8 years out of it. What a fraud. Just scrap the whole thing if you’re going to do that
Posted on 2/27/23 at 8:12 pm to HailHailtoMichigan!
Just privatize social security.
Posted on 2/27/23 at 8:12 pm to HailHailtoMichigan!
Anus and Cass
Posted on 2/27/23 at 8:19 pm to HailHailtoMichigan!
I’m just here to say Cassidy Sucks!
Posted on 2/27/23 at 8:21 pm to HailHailtoMichigan!
quote:
Bill Cassidy, R-La.
Jesus Christ we're fricked.
Posted on 2/27/23 at 8:27 pm to HailHailtoMichigan!
I’m not for this at all.
I am a retired white collar worker. I could have worked into my 70s based on health and job.
I know boilermakers, electricians, plumbers, and painters. There is no way they can work to 70, and I don’t think you can make retirement age a function of career.
Increase payroll tax as a function of earnings, with caps increased per year based on inflation and earnings, just like marginal income tax rates.
Do I like tax increases? No. But the rates have not increased since 1990.
Cassidy? King? GMAFB. A rino and independent. Republicans will get massacred without Demorat leadership (I know, an oxymoron). Same with the border. And you need conservative leadership too. Forget McConnell. Forget McCarthy. We need a purge v
I am a retired white collar worker. I could have worked into my 70s based on health and job.
I know boilermakers, electricians, plumbers, and painters. There is no way they can work to 70, and I don’t think you can make retirement age a function of career.
Increase payroll tax as a function of earnings, with caps increased per year based on inflation and earnings, just like marginal income tax rates.
Do I like tax increases? No. But the rates have not increased since 1990.
Cassidy? King? GMAFB. A rino and independent. Republicans will get massacred without Demorat leadership (I know, an oxymoron). Same with the border. And you need conservative leadership too. Forget McConnell. Forget McCarthy. We need a purge v
Posted on 2/27/23 at 8:33 pm to oldskule
quote:
Just tell frickhead Biden to back off the Ukranie cash burn, stop the student loan debacle, and go get the $90 Billion of military equipment left in Afgahn.....and SS will be funded!
No it wouldn't. Not even close.
Posted on 2/27/23 at 8:35 pm to HailHailtoMichigan!
quote:
seeded with $1.5 trillion or more in borrowed money to jumpstart stock investments
Imagine thinking acquiring debt is an investment. 
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