Posted on 08/15/2018 9:20:43 AM PDT by Kaslin
Don’t worry, all the illegals and migrants will come to our rescue. They love us!
I got mine.
- They will extend the FICA tax to every last penny of income.
- They’ll impose a Tobin Tax on Wall Street transactions to supplement Social Security.
Those are the only two “fixes” that are politically palatable. They call it the Third Rail for a reason.
I’ve believed for years that social security needs to be privatized. Keep those 55 and up on the old system as they phase it out, and start the younger ones out with private accounts. The younger ones will be far better off and get a lot more in the long run.
It is relatively easy to figure out how to fix Social Security.
It is a political minefield, to actually implement needed changes. But as far as figuring out a plan, all we need to do, is set up spreadsheets. And then, plug in numbers showing “what if”, we raise the tax, what if we raise the retirement age a bit, what if we trim benefits payments, etc.
I know it’s a political powder keg to actually vote on anything in Congress. I’m just saying, it’s not too difficult to come up with some balanced choices of changes to the taxes, benefit payments, and full retirement age.
Political will is lacking.
Every two years, raise the retirement age by one year until it hits 80.
The average lifespan, when SS kicked in ate 65, was lower than 65. SS was for people that had the misfortune of living longer than everyone else. As with most socialist programs, it was fatally short sighted.
Meanwhile, I turn 66 in early 2020 and am taking full retirement benefits. It’s all I have. After moving to rural KY it’s also all I need.
Millennials. All are under age 36 I believe. Make them start their own mandatory system and pay everyone else’s benefits out of the general fund. Let it wither on the vine. Eliminate welfare, send all illegals home.
Algore said he’d put it in a ‘lockbox’..................
Won’t be any changes till a full blown crisis is imminent, which will be when the fake trust fund balance approaches zero around 2034 .
Dems will insist on raising taxes starting with the cap on income.
Republicans will want to raise the age again as under Reagan in the 1980s.
Given its a Ponzi scheme actions like those would just repeat the phony ‘saving for the trust fund’ scam again.
One good start would be take any politician (and there are a lot of them) who claims there is a “Social Security Trust Fund” and make them wear a muzzle the rest of their terms.
More terror marketing from the left.....
They took our money, telling us that it was placed safely in a “lock box.” A lie, of course.
Once they get ahold of our money, they start to dole it out in return for votes. They do not keep promises.
It was all predictable.
“I’ve believed for years that social security needs to be privatized.”
I remember when W fought hard for this. He fought for what seemed like a week right after the 2004 campaign. Then he went into hiding only to come out an threaten his base with amnesty when his poll numbers dipped below 40%.
There are a few reasons why liberals will never sign off on the privatization of social security ... I’m sure you know them :
1> They won’t be able to spend that money.
2> It would validate capitalism.
3> People would be more secure financially (i.e. less likely to vote Democratic).
4> People would pay more attention to the overall health of the economy and see that socialism has an overall negative impact on the economy at large (i.e. less likely to vote Democratic).
5> People would be free to choose where their investments are made (i.e. no way for FedGov scum to steer money to friends as payback). Liberals view choice as “freedom to abort lives”. Everything else is up to them.
If people were ‘forced’ to invest 12-14% of income (i.e. what you and your employer pay into SS) and not allowed to touch it until age 65, a substantial number of people would be financially secure upon retirement. You wouldn’t even have to increase retirement age much per say. Compounding interest is a powerful force in the universe :-).
However, again, for the reasons cited, FedGov scum aren’t too into freedom. It won’t happen.
Medicare goes belly up first.
Something that is just wrong.
You earn your salary then they take out income tax and then FICA.
When you get old enough to claim SS benefits. They take income tax out of it a second time.
That’s double taxing.
The ultimate Ponzi scheme, but nobody goes to jail.
Meh, nobody’s going to fix it. If my money isn’t there when I retire, I’ll just have to rob some federal banks or something to get it.
If I get caught, well, they’ll have to send me to federal prison and pay my room and board and medical bills anyway. Win-win.
NO, Al Gore said IT WAS IN A LOCKBOX and kept saying it over and over! It has always been the Republicans who have nibbled at bringing some fixes to it and then been beaten like a drum by AARP, MSM, Democrats and the rest of the usual suspects!
I forget which prominent Democrat who said that he would happily expand Social Security as it got him current voters and he would be long gone before the bill became due! This is still their view as witness Bernie and cohorts!
If 2008 taught me anything it’s that if you go to Congress with the proper Doomsday Scenario in a moment of crisis, you WILL get a bailout.
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