- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Social Security and Medicare will be Insolvent in the 2030s
Posted on 10/5/23 at 8:38 am to BugAC
Posted on 10/5/23 at 8:38 am to BugAC
I suggested this a few weeks ago, what about an elective extra Social Security tax that could double your benefits if you elected to have the extra cash taxed and it would build a cash balance like an IRA and if you die before 62 the money goes to your heirs or can be used to start taking supplemental income before reaching full retirement age. Also eligible participants would be excluded from the government mandated cuts coming.
This post was edited on 10/6/23 at 10:25 am
1
Posted on 10/5/23 at 8:38 am to Lou Pai
Reference to Gaetz in any of this is disingenuous given that it took decades to get here.
Posted on 10/5/23 at 8:41 am to Tarps99
quote:
I suggested this a few weeks ago, what about an elective extra Social Security tax that could double benefits and build a cash balance like an IRA and if you die before 62 the money goes to your heirs or can be used to start taking supplemental income before reaching full retirement age. Also eligible participants would be excluded from the government mandated cuts coming.
Sounds like what Bush proposed (or close to it). A good idea, but doesn't solve the coming insolvency.
Posted on 10/5/23 at 8:42 am to Lou Pai
Show how much this is just a tax
I would gladly give up social security if they took the 6.2% I pay and the 6.2% my employer matches and it all went into my personal retirement accounts.
Imagine another 12.4% into my retirement account on top of what I already put in.
I could retire in my 50’s…..
I would gladly give up social security if they took the 6.2% I pay and the 6.2% my employer matches and it all went into my personal retirement accounts.
Imagine another 12.4% into my retirement account on top of what I already put in.
I could retire in my 50’s…..
Posted on 10/5/23 at 8:44 am to Lou Pai
All started during the 2008 recession when the SS system allowed people to claim SS disability when they were not disabled. Rather, they were just unemployable in the area they lived in due to education/training and unwilling to move like our ancestors did and some of us have done today.
National Bureau of Economic Research
National Bureau of Economic Research
Posted on 10/5/23 at 8:46 am to keakar
quote:
both would be fully funded for the next 50 years if they just shift that ukraine money to the SS account to pay for it
While I applaud your reasoning that we shouldn’t be wasting money we don’t have in Ukraine, 100 billion is a drop in the bucket for social security spending.
In 2022 social security spending was 1.2 trillion
Posted on 10/5/23 at 8:48 am to Lou Pai
Gaetz would gut much of his constituency if he radically diminished SS. For that matter, the same goes for trump.
However, there are solutions that will save the program without radically affecting current beneficiaries or those who have contributed income to the system.
Perhaps indexing benefits would do it. In any event, the program will survive.
However, there are solutions that will save the program without radically affecting current beneficiaries or those who have contributed income to the system.
Perhaps indexing benefits would do it. In any event, the program will survive.
Posted on 10/5/23 at 11:39 am to BugAC
quote:Right.
why the frick must i keep paying into the system?
If Social Security was actually a benefit, contributions could be rendered optional, with the alternate choice being equivalent contributions directed to a personal IRA.
But that won't happen ... EVER ... because Social Security isn't predominantly a retirement program. It is a forced loan to the government courtesy of you, the obligatory lender.
Uncle Sam is deep in debt. He needs your loan, and he gets it at unbelievability cheap terms ... a fraction of what he charges to students for the loans he provides them. He ain't going to let you off. Instead, he will work his arse off to keep the SSTF in surplus, while everything else is in deficit.
Posted on 10/5/23 at 11:42 am to VOR
quote:Radically diminishing SS for his aged constituency is not a Constitutional option, even if it were his plan. But you already know that.
Gaetz would gut much of his constituency if he radically diminished SS.
Posted on 10/5/23 at 11:54 am to Rex Feral
quote:
They’ll raise retirement age to 75.
This is why they allow big pharma to price hike many life changing beneficial medicines out of reach for the common man, that would do wonders to prolong the average lifespan. These include weight loss medications that drastically decrease body mass as well as appetite, and improve cardiovascular function and longevity. They don't want these people to reach 75 and collect benefits they've worked their entire lives to receive.
Fully endorsed, funded and legal eugenics is now the norm, and will continue.
I have paid taxes, SS and Medicare for the entirety of my life since I was 16 years old, every single day without even a single week unemployed. 29 consecutive years of mandatory pay into government programs intended to help sustain me in my final years, and I'm certain I will never see even a dime of it returned.
Posted on 10/5/23 at 12:12 pm to David_DJS
quote:
Addressing spending broadly is necessary, as is addressing social security. The reason you address social security ten years before it becomes insolvent is so it doesn’t become insolvent.
Why does SS becoming insolvent scare you more than our current 2T deficit?
Posted on 10/5/23 at 1:53 pm to NC_Tigah
quote:
Expanding the SSTF "fixes" our deficit spending like giving Hunter Biden a kilo of cocaine "fixes" his drug habit.
You're not following. I'm not suggesting we raise the age of retirement benefits to fix the deficit. I'm suggesting we do that to keep SS solvent.
So you're arguing that it would be a bad idea to raise the retirement age for SS?
Posted on 10/5/23 at 1:58 pm to Dixie2023
quote:
No they won’t. More money will be stolen from us to pay for it
Exactly. Anybody arguing that we shouldn't touch benefits because it would be a "promise broken" and not paying back a "loan" is in fantasy land about what the problem is. It's retarded to believe the government will ever be anything but a bloodsucking leach, so the smart play always is to limit/reduce spending anywhere and everywhere you can.
Posted on 10/5/23 at 2:01 pm to moneyg
quote:
Why does SS becoming insolvent scare you more than our current 2T deficit?
Use that huge brain you keep telling me about and point to the words I posted that make you believe that SS becoming insolvent "scare" me more than the current $2T deficit.
Posted on 10/6/23 at 10:37 am to ronricks
quote:
You realize every single Presidential Administration since LBJ has dipped into this pot of money you are talking about?
Yep, and no effort was made to stop the theft. But given the fact we're now seeing the rise of the UniParty we can now see why the theft of S/S was never challenged. Back then they didn't call it UniParty - they called it bipartisanship. I cringed everytime I heard that term - that and Compassionate Conservatism.
Plus, correct me if I'm wrong but who had control of both the House and the Senate most of those years? Would that be Democrats, RINOs with a generous sprinkling of UniParty? God Bless Matt Gaetz and his Patriots for their efforts to fight the UniParty.
Regardless, Social Security receipts are now just another source of tax revenues your government can use to fight a Proxy war with Russia, fund illegal immigration, and other nefarious activities.
Trump 2024 - They want you, I'm just in the way.
This post was edited on 10/6/23 at 10:47 am
Posted on 10/6/23 at 11:26 am to Lou Pai
Maybe Ukraine will lend us some money.
How will welfare hold up?
How will welfare hold up?
Posted on 10/6/23 at 12:00 pm to Lou Pai
Raise the retirement age. People are living way longer than they did when the retirement age was first determined.
Eliminate the maximum contribution. The most you will have to pay in Social Security taxes for 2023 will be $9,932. That's what you will pay if you earn $160,200 or more. Why?
Means test. You shouldn't make a claim on an insurance policy if you don't qualify.
Eliminate the maximum contribution. The most you will have to pay in Social Security taxes for 2023 will be $9,932. That's what you will pay if you earn $160,200 or more. Why?
Means test. You shouldn't make a claim on an insurance policy if you don't qualify.
Page 5 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News