Posted on 08/11/2021 10:23:30 AM PDT by Browns Ultra Fan
Don’t listen to Bernie Sanders, America’s crazy uncle who said taxes will not increase for households making under $400,000 per year. Aside from the obvious expansion of Federal government control over the economy, the Senate’s budget resolution did NOTHING to fix the bankrupt Social Security program.
This budget resolution fails to tackle the nation’s most important fiscal challenges, while likely making future reforms to forestall a crisis even more difficult. Any meaningful fiscal reform must tackle the unsustainable entitlement programs, including Medicare and Social Security.
Without reforms, the Medicare Hospital Insurance Trust Fund will be depleted in 2027 and the Social Security Trust Fund will be depleted in 2032, according to the Congressional Budget Office.
The looming insolvency of the federal government’s two largest programs should be a wake-up call for the need to consider serious changes that would result in better outcomes for those who depend on these programs.
When the Social Security Trust Fund is depleted, it will trigger an immediate 25% benefit reduction, which translates into a low-income earner’s benefit falling by $3,700, to $11,200 per year. Already, Social Security takes 12.4% of workers’ paychecks; keeping it solvent would require a 33% increase in the payroll tax, to 16.5%, or an extra $102,000 in Social Security taxes for an average worker.
Even so, common sense tells you that someone has pay for the infrastructure bill AND the $3.5 TRILLION Biden budget. And it won’t be the elites.
Here are the top-line “Goodies” that Bernie and Chuck are giving away.
topline-summary-of-fy2022-budget-resolution-1Download Well, the Senate is increasing both discretionary and mandatory spending. But not fixing the looming disasters on the horizon.
Is the plan from these economic geniuses to let Social Security fail? And breaking the back of Medicare to move to a British-style national healthcare system?
(Excerpt) Read more at confoundedinterest.net ...
All by design, Comrade. All. By. Design. *SPIT*
In the future, you will own nothing. And you will be happy.
And most Republicans have shown themselves to be nothing more than Assistant Democrats.
The GOP is a fake opposition party.
They aren’t going to see the light. They won’t slow their agenda one bit, no matter what we say. We all know actions speak louder than words. I’m about out of words that fall on willfully deaf ears. We either stop these deranged people or we accept their ways. There is no in-between anymore.
Hoodwinked again by DemoKKKrats....
The lie that this is all paid for by the uber rich and corporations is flat out BS. Provide ups the details and the White paper concerning how corporation pass taxes down to us, the middle class.
There is no need for any taxes any more.
.Gov can borrow all it wants from the Federal Reserve at this point.
The currency is gonna blow—maybe in a few years, five years, maybe ten years—why make people pay taxes just to delay the inevitable...
In the future? How about already happened. People thinking they "own" things are delusional.
Don’t worry. They’re firing up the printing presses.
I’ve been hearing this for many years. Wasn’t SS supposed to implode back in 2012? and early 2,000’s/late 90’s? And mid-80’s if memory serves?
While unsourced, this quotation attributed to Lenin sums up the DemoNaziCommunist Party boss’ agenda for remaking Amerika into their socialist dictatorship
“The way to crush the bourgeoisie is to grind them down between the millstones of taxation and inflation.”
— Vladimir Ilyich Lenin
Note: John Maynard Keynes, the economist idol of the communistic leftists, said something quite similar (as did Ronald Reagan for that matter). The insight transcends political boundaries
There goes the Trump tax cut to my pension that gave me an extra $80 a month, and brought my tax refund from the usual $600 a year, to $1300. I rely on that refund to visit my son in Indiana each year.
Agree. I worry about banks confiscating my cash plus everyone’s.
Spending has been completely decoupled from tax revenue.
The only purpose of taxes at this point is to punish the people whose votes can’t be bought with government checks.
Not hoodwinked, complicit.
SS implosion calculations never work because they don’t matter as long as Congress keeps appropriating funds to pay the benefits.
The way the SS game works is very simple—everything is fine until one day it is toast.
Those who are talking about when that day will come don’t know, and those who know are not talking...and it has _nothing_ to do with calculations or the “Trust Fund” at all.
This is a political issue, not a math exercise.
I worry about as they do this incrementally like they are doing, the sheeple remain calm and obedient.
Mitch got rolled like a Bowling Ball.
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