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Thread: The results are in on social security

  1. #201
    Professor xpiher's Avatar
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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    yeah.... that's about right.


    but wishful thinking doesn't get you $17 Trillion.
    Its only wishful thinking because the government is likely to dip into the trust fund and the general SS fund to pay for overseas debt.
    Hayek - too liberal for republicans

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    Re: The results are in on social security

    Quote Originally Posted by xpiher View Post
    Its only wishful thinking because the government is likely to dip into the trust fund and the general SS fund to pay for overseas debt.
    I don't think you understand. There is nothing of value in the "trust Fund." Politicians spent the money. They always do. It is an IOU backed by nothing.

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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    I don't think you understand. There is nothing of value in the "trust Fund." Politicians spent the money. They always do. It is an IOU backed by nothing.
    The full faith and credit and promise of the government of the American people to pay its debts and obligations is not "nothing". To suggest that it is would be disingenuous in the extreme.
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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    I don't think you understand. There is nothing of value in the "trust Fund." Politicians spent the money. They always do. It is an IOU backed by nothing.
    Its backed by America's Triple-A credit rating. I don't think you understand that if America default everything will be paid piecemeal, that includes current benefactors.
    Hayek - too liberal for republicans

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    Re: The results are in on social security

    Quote Originally Posted by xpiher View Post
    Its backed by America's Triple-A credit rating. I don't think you understand that if America default everything will be paid piecemeal, that includes current benefactors.
    Hence you agree with me. The promise to pay is not backed by anything of value.

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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    Hence you agree with me. The promise to pay is not backed by anything of value.

    "America's Triple-A credit "at one time that that meant something to politicians in this country. Kinda looks like its being used as a bargaining chip for the republican party now. This can mostly be traced back to the decision by george the second, that wars should be kept off the general budget; the old outa site outa mind theory.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    "America's Triple-A credit "at one time that that meant something to politicians in this country. Kinda looks like its being used as a bargaining chip for the republican party now. This can mostly be traced back to the decision by george the second, that wars should be kept off the general budget; the old outa site outa mind theory.
    Whatever. We spend way too much. And most of it is extra-constitutional. It is a shame we cannot go back in time to every vote that was made for an extra-constitutional law and confiscate 100% of the wealth of the families of the criminal legislators and black-robed judges who upheld these evil laws. This is one case where I think stoning, as a punishment, is justified.

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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    I don't think you understand. There is nothing of value in the "trust Fund." Politicians spent the money. They always do. It is an IOU backed by nothing.
    Payroll tax revenues masked the shortfall in income taxes that was cause by the Bush taxcuts. The simple solution is let those tax cuts expire and allow payroll tax revenue to pay for social security rather than the general operating expenses of the government.
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    Re: The results are in on social security

    Quote Originally Posted by Misterveritis View Post
    Hence you agree with me. The promise to pay is not backed by anything of value.
    Yes, its backed by your tax dollars. Pay up!

  10. #210
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    Re: The results are in on social security

    Quote Originally Posted by justabubba View Post
    the exact same thing you insist
    please point out where the Bowles Commission recommended that social security funds be invested in the stock market
    the Bowles Simpson commission said raise the retirement age just like those folks did.


    however, in other places on this forum I have gone through the numbers and described the effects of personalized accounts on low-income workers. namely, they can retire financially independent, and even in a worst-case-scenario they make more than twice as much in returns as they would from Social (in)Security. A man could never make more than 32 K a year his entire working life, and still retire a millionaire.

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