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Uh-oh, baby boomers begin to retire: ; Congress may fix Social Security using a commission
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| October 17, 2007
| Robert Samuelson
Posted on 11/14/2007 8:41:45 AM PST by Clintonfatigued
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To: Clintonfatigued
Is there any real doubt what will be done? Raise taxes and cut benefits. Of course it’s gonna happen. The question is... where do they draw the line to grandfather people into the current system?
2
posted on
11/14/2007 8:46:30 AM PST
by
rhombus
Comment #3 Removed by Moderator
To: rhombus
President Bush offered to work with the dems in 2005. They refused to acknowledge there was even a problem. As in the battle for Iraq, the rats cannot allow a “win” to be attributed to any Republican. Pelosi, Reid, old media, et al, have rendered the political atmosphere too toxic for progress.
That said, I suspect and fear you will be right, more taxes, fewer benefits and no personal accounts. Euro-sclerosis here we come.
4
posted on
11/14/2007 8:54:37 AM PST
by
Jacquerie
(May I live to see another Navy win over Notre Dame.)
To: qam1; ItsOurTimeNow; PresbyRev; Fraulein; StoneColdGOP; Clemenza; m18436572; InShanghai; xrp; ...
Xer Ping Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations are doing that Gen-X and Y will end up paying for.
Freep mail me to be added or dropped. See my home page for details and previous articles.
5
posted on
11/14/2007 8:56:52 AM PST
by
qam1
(There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
To: rhombus
Oddly enough, the Clinton administration back in 1993 had the most realistic approach to “fixing” Social Security in the long run . . . i.e., tax Social Security benefits at current income tax rates. This effectively cut Social Security benefits indirectly without really “cutting” them.
6
posted on
11/14/2007 8:57:08 AM PST
by
Alberta's Child
(I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
To: qam1
Oh they are going to tax our young backsides off.
7
posted on
11/14/2007 8:57:48 AM PST
by
NeoCaveman
("Don't doubt me" - The Great El Rushbo)
To: Jacquerie
...more taxes, fewer benefits and no personal accounts. Euro-sclerosis here we come.A really sad thing to do "for the children", eh?
8
posted on
11/14/2007 8:59:28 AM PST
by
rhombus
To: Alberta's Child
tax Social Security benefits at current income tax rates. This effectively cut Social Security benefits indirectly without really cutting them.It seems like this approach makes the program into just another welfare program.
9
posted on
11/14/2007 9:00:59 AM PST
by
rhombus
To: rhombus
"Is there any real doubt what will be done? Raise taxes and cut benefits. Of course its gonna happen." Yep! And it's just amazing that they are going to increase my taxes to support a system that is based on already taking 12.4% of my paycheck!
Just let me have my dang money! Sheeeze... It's mine!
10
posted on
11/14/2007 9:01:58 AM PST
by
avacado
To: NeoCaveman
Yeah our financial advisor warned my wife and I of that.
He doesn’t even talk to us about our SS benefits with regard to retirement because he said it will be a miracle if we get anything.
Enjoy your retirement baby boomers...it’s on me...
11
posted on
11/14/2007 9:02:14 AM PST
by
TSgt
(Extreme vitriol and rancorous replies served daily. - Mike W USAF)
To: rhombus
I wish all welfare programs were like that. Just think about it -- a welfare program where the RECIPIENTS are taxed on their benefits.
12
posted on
11/14/2007 9:03:06 AM PST
by
Alberta's Child
(I'm out on the outskirts of nowhere . . . with ghosts on my trail, chasing me there.)
To: rhombus
You could also cut the COLA and inflate the dollar.
13
posted on
11/14/2007 9:04:25 AM PST
by
zek157
To: Alberta's Child
Taxing money that they took from you as a loan to pay “benefits” for others that they borrowed from.
14
posted on
11/14/2007 9:10:46 AM PST
by
misterrob
(Nine down, 10 more til the Pats win the SB again.)
To: zek157
The problem with SS is that it's a kitty. The income is used up every year to pay for other government programs.
It's like putting your money in a reverse government bond...Pay $25 and 30 years later, you get back $17. Add inflation...and you're getting "0".
15
posted on
11/14/2007 9:15:44 AM PST
by
Sacajaweau
("The Cracker" will be renamed "The Crapper")
To: MikeWUSAF
I’ve been donating $$$$ to the SS system involuntarily from 1960-2005. SOOOO how are MY benefits courtesy of YOU???? Like I didn’t help pay for the citizens older than myself . Quit whining and get back to work .
16
posted on
11/14/2007 9:15:56 AM PST
by
Renegade
To: zek157
You could also cut the COLA and inflate the dollar.
Isn’t that what they have been doing secretly? The cost of living is being understated for several years now so they don’t have to pay for the actual inflation.
To: Clintonfatigued
Washington remains TOTALLY OUT OF CONTROL. The American working public should just stop paying taxes for a while, and see what happens to those carpet-bagging, malfeasant elitists.
18
posted on
11/14/2007 9:17:09 AM PST
by
EagleUSA
To: rhombus
Raise taxes and cut benefits. The political solution to all of our troubles is to inflate away the debts.
Real Data (not the govt cooked data) shows that M3 is at 18% and real GDP is at -2% that's 20% inflation = hyperinflation.
19
posted on
11/14/2007 9:18:38 AM PST
by
jrsmc
To: jrsmc
Welcome to FR. Now connect the dots and tell us what this has to do with SS.
20
posted on
11/14/2007 9:22:50 AM PST
by
rhombus
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