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Thread: The results are in on social security

  1. #231
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    Re: The results are in on social security

    Quote Originally Posted by The Barbarian View Post
    See this is where liberals and conservatives disagree, the liberals first thought process in every problem is to raise the tax. As if that is the only solution to any problem.

    But I go back and wonder what was the average life expectancy of a working man back when SS was first started? Was it meant to pay people for and average of 13 years of non productivity? (in the work force) I see nothing wrong with raising the retirement age to early retirement to 65, and full retirement to 67, to keep it fair .. a one year raise in the first 10 years, the next raise in the next 10 years. That would mean that a worker who is 50 today .. will have to work one more year .. and workers that are 40 would have to work two more years, those above 50 would not be effected.

    If that doesn't do it, then lets look at a very small increase in the tax rate of SS for all people for the first 10 years, along with raising the cap .. say $25,000 to see us through until the older age kicks in. Make that tax increase the very same as Bush made his tax cuts, they just expire after 10 years.

    This way everyone, is helping to cure a problem not just 10% of the working population, everyone agrees these are hard times, shouldn't all people kick in to help ?

    Like Catawba said, take the friggen cap off,if that don,t do it we can take a peek at other options but every thing that i have read says taking the cap off will do the job.
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  2. #232
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    Re: The results are in on social security

    How does unemployment factor in here? People keep working = less jobs, right? They're working longer, so the ones coming up can't fill those positions.

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    Re: The results are in on social security

    Quote Originally Posted by cpwill View Post
    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.
    Yeah but the simpson bowles said for it to be raised in 2050 or 2049... that isn't going to make much of a difference.

  4. #234
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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Like Catawba said, take the friggen cap off,if that don,t do it we can take a peek at other options but every thing that i have read says taking the cap off will do the job.
    then i don't know what you're reading, but it's crap. even the AARP is now admitting that there is no way to tax our way to paying for Social Security, and expenditures will have to be reduced. especially since benefits are built in "contributions" which means that the more you take in in taxes, the more you owe out in benefits. you aren't fixing the problem, you're just making the numbers (somewhat) bigger.

    Quote Originally Posted by Gargantuan
    Yeah but the simpson bowles said for it to be raised in 2050 or 2049... that isn't going to make much of a difference.
    they said start raising it now to finish raising it in the future. I think it was something like two months a year?

    also worth noting - simpson bowles assumed Obamacare math; which means medicare payout schedules get reduced 30%, and we magically get back $500 Billion that we spent on exchange subsidies.

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    Re: The results are in on social security

    Quote Originally Posted by BDBoop View Post
    How does unemployment factor in here? People keep working = less jobs, right? They're working longer, so the ones coming up can't fill those positions.

    no. production creates production in a virtuous cycle, and more skilled production creates even more production.

  6. #236
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    Re: The results are in on social security

    Pop the cap and tax every penny that comes into anybody's pocket as income. Make them pay what the rest of the 93% do paying FICA tax on ALL of our income.
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    Re: The results are in on social security

    Quote Originally Posted by cpwill
    especially since benefits are built in "contributions" which means that the more you take in in taxes, the more you owe out in benefits. you aren't fixing the problem, you're just making the numbers (somewhat) bigger.
    But it's not a one-to-one exchange. You are aware that SS is 'means tested', right?* There are currently three 'bend' points of your monthly salary on which your benefits are calculated. You could adjust the latter points downward or maybe add a fourth to further reduce benefits of the high-income earners.




    *SS benefit level is calculated as 90% of your first $749 in monthly pre-retirement earnings, 32% of earnings up to $4,517, and 15% of your earnings above that.
    “We just simply don’t know how to govern” - Rep. Steve Womack (R-AR) a member of the House Budget Committee

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    Re: The results are in on social security

    Quote Originally Posted by donc View Post
    Like Catawba said, take the friggen cap off,if that don,t do it we can take a peek at other options but every thing that i have read says taking the cap off will do the job.
    and just like I said .. the very first solution to every problem by the liberals is to tax more .. and if that don't fix it .. why tax some more ...that's why I find it hard to discuss anything with liberals .. they have NO other fixes .. and anyone that does it nuts ..
    Last edited by The Barbarian; 07-07-11 at 12:24 PM.

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    Re: The results are in on social security

    Quote Originally Posted by The Barbarian View Post
    and just like I said .. the very first solution to every problem by the liberals is to tax more .. and if that don't fix it .. why tax some more ...that's why I find it hard to discuss anything with liberals .. they have NO other fixes .. and anyone that does it nuts ..
    93% of Americans are currently taxed on 100% of their income for FICA. All need to be.

    cpwill - your comment ignores the reality that nearly everyone who suggests popping the cap also couples it a benefit freeze at todays levels plus inflation.
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  10. #240
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    Re: The results are in on social security

    Quote Originally Posted by The Barbarian View Post
    and just like I said .. the very first solution to every problem by the liberals is to tax more .. and if that don't fix it .. why tax some more ...that's why I find it hard to discuss anything with liberals .. they have NO other fixes .. and anyone that does it nuts ..
    Its called addressing the root cause of the problem which was insufficient tax collection which resulted in taking money from the SS funds to pay for general fund spending.

    Quote Originally Posted by Catawba View Post
    The AARP Report shows:

    The Social Security Trustees reaffirm that the program is financially strong for decades to come and can be strengthened for the future with relatively modest adjustments. With pensions, savings, and home equity down, many older workers unable to find jobs; and health costs continuing their upward climb, Social Security’s guaranteed benefits are more crucial than ever."

    AARP: Report shows Social Security is viable for another 25 years
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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