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 ...
I was going to wait but maybe I should start my SS at Full Retirement (first chance).
Not that it matters as if SS goes away it does not really affect my plans, just the size of my cushion.
I pay myself as an employee through my C Corp. If I wince I will just shut it down.
So I am on the sideline watching this.
Mitch did not get rolled, he was very happy to assist the Democrats.
“the Senate’s budget resolution did NOTHING to fix the bankrupt Social Security program.”
I don’t know how to break this to you all, but guess what’s next? They just have positioned us for yet -another- solid azz-raping. There will be trillions more for that.
Even though I know these sacks of crap will be replaced by someone as bad or worse won’t they eventually die and we will at least refresh the headlines?
I can’t wait. They can’t possibly assume room temperature fast enough.
Only the good die young.
That’s why the Marxists in DC are hiring 87,000 more IRS agents. It’s not to audit Bill Gates or George Soros.
Bottom line of the summary in the link:
FREE FLIPPING ICE CREAM FOR EVERYBODY!
Do you love me!?
https://www.youtube.com/watch?v=3EoI-6lQFIE
Insert your own words but you should get the idea.
Sanders is a communist……. With three houses !!!!
HYPOCRITE !!!!
Trump has this losers number for sure.
They do not have to raise taxes to “pay for” this - they haven’t been “paying for” most things they do since the Great Compromise of 1986.
Taxes are raised to punish enemies of the regime. Taxes are lowered to enrich friends of the regime.
They can get as much money as they need to spend by a few mouse clicks and typing a line or two on a keyboard.
Taxes have nothing to do with any of it.
They will just let the deficit build. When you decrease revenue (tax cuts) or increase spending (like this bill), for the sake of the deficit, you should also adjust the other side of the equation. That never gets done by anyone in Washington.
“Democrats are planning to let Medicare and Social Security collapse and nationalize both.”
If they let either program collapse, then the democrats would be toast......... burnt toast. The election beat down would be historic.
Besides,
How do you nationalize something that is already a government program?
And of course, confiscate those pesky 401Ks from those greedy people in the middle class.
Bernie Sanders never did an honest day’s work in his life. Most of the time he was a bum. He got into Congress and he’s still a bum.
No... Democrats are the hoodwinkers and RINO’s are the hoodwinked.
They are complicit, they knew damn well what they were voting for.
In the end it’s we the people the tax payers that have to pay for it in the end...
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