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Message
re: Social security to run out of money earlier than thought, trustees calculate
Posted on 4/1/23 at 7:40 am to HailHailtoMichigan!
Posted on 4/1/23 at 7:40 am to HailHailtoMichigan!
Joe Biden and the democrat crook pals stole the Social Security Fund in the eighties. I know I watched them do it on television. It was a bait-and-switch routine after they convinced the taxpayers we needed an increase in Social Security Taxes.
Look for the crooks to holler 'the sky is fallin - the sky is fallin' and raise S/S taxes again.
C'mon man, I thought you liked me - Creepy Corrupt Joe Biden
Look for the crooks to holler 'the sky is fallin - the sky is fallin' and raise S/S taxes again.
C'mon man, I thought you liked me - Creepy Corrupt Joe Biden
This post was edited on 4/1/23 at 7:42 am
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Posted on 4/1/23 at 8:53 am to HailHailtoMichigan!
I am a boomer who has done nothing wrong other than work forty years, pay taxes and play by the rules.
I am enjoying my $130 per day SS payment and figure that over the next 10 years I’ll get ~ $470,000 not counting any COLA.
That, plus my IRA distribution and side gig cash, has me sitting pretty over here in Bowregard parish ;)
Tell me again what I should feel bad about and I’ll get right on it!
I am enjoying my $130 per day SS payment and figure that over the next 10 years I’ll get ~ $470,000 not counting any COLA.
That, plus my IRA distribution and side gig cash, has me sitting pretty over here in Bowregard parish ;)
Tell me again what I should feel bad about and I’ll get right on it!
Posted on 4/1/23 at 9:33 am to Tesla
quote:
Pelosi, Schumer, Biden, McConnell, Graham, Romney, Cheney…all boomers.
nope
the war ended in 1945. Anybody older than 78 is not a baby boomer. The generation born right before the baby boomers fricked us greatly. I am a "baby boomer" born in 1961. I have nothing in common with any of the people born before 1955.
I start collecting SS next month, don't feel bad about it, had no choice, no options to vote against it.
Any politicians that fixed it would be massively voted out of office in the next election. Then the fixes would be undone and we would end up with something worse. We are doomed.
Notice what France is doing and why. Is our electorate really much different than France's? Do you think the majority of 30/40/50 year olds would vote for whatever the fix is?
Posted on 4/1/23 at 9:39 am to HailHailtoMichigan!
I have no idea what the best solution would be, but it seems like some kind of taper-off would be appropriate.
Reduce the amount people pay yearly as more and more people (die) get off of it. I, in my 30's would gladly take this if it meant wiping social security out. I would, of course lose what I paid in, and that would suck, but if the alternative is to continue to pay more and more and most likely not receive it, then I'll take that.
I don't care how it gets fixed, but it needs to get fixed and someone is going to lose money on it.
Reduce the amount people pay yearly as more and more people (die) get off of it. I, in my 30's would gladly take this if it meant wiping social security out. I would, of course lose what I paid in, and that would suck, but if the alternative is to continue to pay more and more and most likely not receive it, then I'll take that.
I don't care how it gets fixed, but it needs to get fixed and someone is going to lose money on it.
Posted on 4/1/23 at 9:43 am to HailHailtoMichigan!
It's a recurring headline. My first encounter with that statement was in the 60's via the MSM.
Posted on 4/1/23 at 9:53 am to HailHailtoMichigan!
Between the Boomers that like their government checks and their Millennial kids that don't want mom and dad moving in with them, they'll vote for whoever promises to have GenX pick up the tab.
Posted on 4/1/23 at 9:59 am to Tantal
quote:
Between the Boomers that like their government checks and their Millennial kids that don't want mom and dad moving in with them, they'll vote for whoever promises to have GenX pick up the tab.
The key is they will not re-elect anyone who "fixes" it, so no "fix" that actually does it will be sustainable.
We are irrevocably fricked. All politicians want is a bandaid until their particular careers are over. You think somebody like Chuck Shumer gives a frick about his grandkids?
Posted on 4/1/23 at 10:00 am to Fat Bastard
Posted on 4/1/23 at 10:02 am to Jjdoc
Nothing in that post said he wanted trump arrested.
Stop lying.
Stop lying.
This post was edited on 4/1/23 at 10:16 am
Posted on 4/1/23 at 10:09 am to HailHailtoMichigan!
Hate to break it to people but SS has already run out of money and is being subsidized with general fund taxes. This whole fake “trust fund” stuff is just an accounting gimmick.
Posted on 4/1/23 at 10:52 am to HailHailtoMichigan!
Social Security was in this mess before and the US was able to shore up the program for another 40 years in 1983. As usual, Congress "kicked the can down the road" for nearly 15 years before making much-needed changes to the program.
In 1983, Ronald Reagan worked with Tip O'Neal (longtime Democratic Speaker of the House) to find a bi-partisan solution. The 1983 Social Security Act was passed. Among the many changes, it gradually raised the Full Retirement Age from 65 to 67, taxed Social Security benefits for recipients, and brought new Federal government employees into Social Security. Like any bi-partisan solution, it wasn't perfect, but it kept Social Security afloat for several decades.
Of course, you will need a President with the balls to take on such a difficult problem and to work with the other party in Congress to get it done.
By the way, Reagan won re-election the next year in 1984 in a true Landslide. He won 49 states and won 525 electoral votes and 58.8% of the popular vote. No other candidate in American history has matched Reagan's electoral vote total.
In 1983, Ronald Reagan worked with Tip O'Neal (longtime Democratic Speaker of the House) to find a bi-partisan solution. The 1983 Social Security Act was passed. Among the many changes, it gradually raised the Full Retirement Age from 65 to 67, taxed Social Security benefits for recipients, and brought new Federal government employees into Social Security. Like any bi-partisan solution, it wasn't perfect, but it kept Social Security afloat for several decades.
Of course, you will need a President with the balls to take on such a difficult problem and to work with the other party in Congress to get it done.
By the way, Reagan won re-election the next year in 1984 in a true Landslide. He won 49 states and won 525 electoral votes and 58.8% of the popular vote. No other candidate in American history has matched Reagan's electoral vote total.
Posted on 4/1/23 at 10:59 am to Hetfield
I don't agree. The government will do something, most likely hefty tax increases. For instance, instead of Shaq paying ss taxes on his first $200k, he pays it on the entirety of his $20 million+ income.
Of course, this house of cards economy we have will all collapse, and probably not too long from now. EVERYONE will be screwed at that point.
By the way, I'm MAGA and about as conservative as can be. I don't agree with the above necessarily, but it or something similar WILL HAPPEN. They won't allow MASS starving in the streets. And before you say we have that now. No we don't. What 2% of the population is homeless now, if that??
Of course, this house of cards economy we have will all collapse, and probably not too long from now. EVERYONE will be screwed at that point.
By the way, I'm MAGA and about as conservative as can be. I don't agree with the above necessarily, but it or something similar WILL HAPPEN. They won't allow MASS starving in the streets. And before you say we have that now. No we don't. What 2% of the population is homeless now, if that??
Posted on 4/1/23 at 12:09 pm to HailHailtoMichigan!
Hence Agenda 2030.
Posted on 4/1/23 at 12:44 pm to Bamajedi
quote:
I suppose getting the younger folks to work gainful employment and pay taxes may still be an issue though.
Add to that AND have children that work and pay taxes. People fail to realize SS is an Annuity that was built based upon future birth rates by Government actuaries.
Posted on 4/1/23 at 1:28 pm to frogtown
quote:No. Perhaps you missed the cost-of-carry caveat.
So doing nothing on the budget is OK?
But I'll try again. SS does not add 1¢ to our deficit for several years. When it does, it will be 20% or about $110B in deficit.
Meanwhile, our overall budget is running a 28% deficit RIGHT NOW. That is $1.4 Trillion ... RIGHT NOW!
Someone focused on SS ... RIGHT NOW ... is getting led by their nose ring away from the scene of the actual crime. If focus on the current deficit led to just a 10% reduction, that alone would equate to 1.5X SS future annual deficits. Put another way, while a $110B/yr SS deficit is sustainable, a $1.4T/yr is not!
Posted on 4/1/23 at 2:01 pm to NC_Tigah
But I'll try again. SS does not add 1¢ to our deficit for several years.
This is simply not true. You’re saying this based on the “trust fund” being depleted to cover the difference between SS tax paid in and benefits paid out. The problem is that the trust fund does not actually exist. That money was spent years ago on other stuff and is simply a pile of IOU’s being paid back from the general fund as they get called in.
This is simply not true. You’re saying this based on the “trust fund” being depleted to cover the difference between SS tax paid in and benefits paid out. The problem is that the trust fund does not actually exist. That money was spent years ago on other stuff and is simply a pile of IOU’s being paid back from the general fund as they get called in.
This post was edited on 4/1/23 at 2:02 pm
Posted on 4/1/23 at 2:10 pm to Tesla
quote:
You’re missing the point. It’s not like we haven’t known we were going to get screwed, it’s the frustration of knowing we’re being forced to support the fricking hippies who gave us the shite show currently residing on Capital Hill. It’s theft.
I don't understand your/your generation's bitch about boomer politicians. You are voting them into office. Maybe stop doing that?
Posted on 4/1/23 at 2:47 pm to HailHailtoMichigan!
I’m 4.5 years from being eligible. It freaking figures I’ll end up getting screwed in the end. Even though I was forced into it, knowing that it’s destined to fail.
This country absolutely sucks.
This country absolutely sucks.
Posted on 4/1/23 at 3:17 pm to HailHailtoMichigan!
Glad I’m a short timer. Singing up next year. Let y’all bring me home
This post was edited on 4/1/23 at 3:18 pm
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