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Thread: Social Security reserves forecast to run dry in 2022

  1. #121
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    Wow, you're so independent your far left.....Shocker!


    j-mac
    Lord knows, FACTS have a decidedly liberal bias, which goes a ways explaining your abhorance of them.

  2. #122
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Samhain View Post
    As the trust fund starts to decrease in value, the most obvious correlation in publicly known data sets will be the decrease in intra-government holdings and an increase, of the same amount, in public debt.
    Under an assumption that debt maturing to SSTF and not rolled over was financed by selling new debt to different investors, public debt would stay the same. The decline in intragovernmental holdings representing the maturity would be offset by an increase in debt held by the public representing the new issuance, hence it's a wash as far as public debt as a whole goes.

  3. #123
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    That is a good point, and what I wonder is how much of these so called bonds that were the iou's placed in SS are absolute junk due to the US monetizing its own debt.
    LOL! Why don't you explain how "monetizing the debt" would turn anything into absolute junk? Some of the gasbag mysticism that manages to float around simply amazes me sometimes.

  4. #124
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    Re: Social Security reserves forecast to run dry in 2022

    What is a Ponzi scheme?
    "A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds in opportunities claimed to generate high returns with little or no risk. In many Ponzi schemes, the fraudsters focus on attracting new money to make promised payments to earlier-stage investors and to use for personal expenses, instead of engaging in any legitimate investment activity."

    Why do Ponzi schemes collapse?
    "With little or no legitimate earnings, the schemes require a consistent flow of money from new investors to continue. Ponzi schemes tend to collapse when it becomes difficult to recruit new investors or when a large number of investors ask to cash out."


    So after reading exactly what a Ponzi scheme is and why it eventually collapses tell me why ss isn't one and won't collapse.

  5. #125
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by haymarket View Post
    If you want to argue, they are located in Washington DC. There is a very good restaurant a few blocks from their building and I would be happy to recommend it to you while to go and cross verbal swords with the nine justices.
    Jaleo — the renowned Spanish tapas restaurant of José Andrés
    They specialize in small plates of Spanish food. Its wonderful.
    It's a tapas place. A lot of people do like it, even though it's a chain (frowned on by "foodies"). But it's at 7th and E Streets, NW (Penn Quarter). Not exactly a walk for the squeamish of you're starting out at the Supreme Court (Capitol Hill).

  6. #126
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by AdamT View Post
    Lord knows, FACTS have a decidedly liberal bias, which goes a ways explaining your abhorance of them.

    Puhleeze! You wish that were true.

    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  7. #127
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by MoSurveyor View Post
    In fact, you've have to go extremely far down in the tax tables to get the rate down to 14% once you've added 7.65% to it.
    Heck, don't forget federal excise taxes. Those are highly regressive as well. The burden on the lowest 20% is ten times that on the top 1%.

  8. #128
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by sawyerloggingon View Post
    I wonder what the bank will say when I take my 1st ss payment to them and it is nothing but an IOU from the gov. Will they give me cash for it?
    EFT, dude.

  9. #129
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by Cardinal Fang View Post
    It's a tapas place. A lot of people do like it, even though it's a chain (frowned on by "foodies"). But it's at 7th and E Streets, NW (Penn Quarter). Not exactly a walk for the squeamish of you're starting out at the Supreme Court (Capitol Hill).
    Yup - thats it. have been there twice - great food both times. And I did not realize it was a chain. If I remember correctly, we visited the Capitol, went past the Supreme Court, went to the Archives only to find it closed for renovation -and then we hit the restaurant....... although a cab ride may have been involved at some point.
    __________________________________________________ _
    There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers

  10. #130
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    Re: Social Security reserves forecast to run dry in 2022

    Quote Originally Posted by j-mac View Post
    Ok, which one is the sock pupet? you or Fang?
    It was rhetorical.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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