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Thread: Social Security To Go Bust By 2030: CBO

  1. #21
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Slyfox696 View Post
    Or they could opt to pay 16% of wages to support those loved ones who can no longer work and need to be cared for. We can play that game all day long.

    What we SHOULDN'T do is pretend that Social Security is going bust. Like I said, your headline was grossly misleading.
    I have to guess that you picked 16% out of a hat. We shouldn't pretend that we have any idea where Social Security is going regardless of what the headline says. I suspect that 12.4% of wages is a tough sell to future voters. You are basically suggesting that future voters are going to be more willing to pay taxes that we wouldn't.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    I am guessing that you don't read threads before you reply, or that you haven't updated your clichés. The experts - in the report I posted - say that it is about 2/3rds not 80%. But let's not allow facts get in the way of ideology.
    So there is a difference of opinion - some could even say a small difference of opinion on the exact number. Regardless, if we get 2/3 or 4/5 to a solution that is a hell of a long way and I call that substantial progress. With that in place we can then do smaller tweaks to make up the rest of the difference of simply take the money out of general funding.
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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by ttwtt78640 View Post
    You are close but that would require 100% of income, not just earnings, to be subject to SS withholding. Tinkering with the inflation adjustment is simply lowering benefits.
    I have long favored that ALL income be subject to the same tax schedule so that sounds acceptable to me.

    yes - tinkering with inflation might well be lowering benefits and that might be a small sacrifice we have to make. But please not I stated there would be a modest inflation increase if possible.
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    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

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by RDS View Post
    Yes, from taxes they give u free lunch.
    Yeah, like when I go to mcdonalds and give them cash, and I get a free lunch!
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    So there is a difference of opinion - some could even say a small difference of opinion on the exact number. Regardless, if we get 2/3 or 4/5 to a solution that is a hell of a long way and I call that substantial progress. With that in place we can then do smaller tweaks to make up the rest of the difference of simply take the money out of general funding.
    Facts don't matter is what you are saying.

    The last time we ran this discussion. It was just eliminate the cap and it is fixed. Then it was no... It is solvent. Then it was no... It is 77% of solvent. Then it was no... if we eliminate the cap and cap benefits of someone who was a high wage worker (mind you this person now may be penniless) it is 80% solvent. And no matter how many times you are wrong you follow it up with well it is better than what we have today. You don't really care about Social Security. You just want to throw other people's money at the problem.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Deuce View Post
    Yeah, like when I go to mcdonalds and give them cash, and I get a free lunch!
    Actually it is more like you go to mcdonalds and tell them that you want a hamburger today because you bought one for your dad 30 years ago.

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    Re: Social Security To Go Bust By 2030: CBO

    Social security changes don't need to be drastic if you just do it broadly. Removing the income cap is a good one, increase the retirement age a little, half a percent increase in FICA or something, etc. people just live a lot longer than they used to, and have fewer children.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    I have long favored that ALL income be subject to the same tax schedule so that sounds acceptable to me.

    yes - tinkering with inflation might well be lowering benefits and that might be a small sacrifice we have to make. But please not I stated there would be a modest inflation increase if possible.

    Here is a very liberal guy who supports Social Security :

    Why Taxing the Rich is the Wrong Way to Fix Social Security - 1

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    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    Facts don't matter is what you are saying.

    The last time we ran this discussion. It was just eliminate the cap and it is fixed. Then it was no... It is solvent. Then it was no... It is 77% of solvent. Then it was no... if we eliminate the cap and cap benefits of someone who was a high wage worker (mind you this person now may be penniless) it is 80% solvent. And no matter how many times you are wrong you follow it up with well it is better than what we have today. You don't really care about Social Security. You just want to throw other people's money at the problem.
    Never said that. What I said is that there is a difference of opinion on the numbers. I also said that even if we use YOUR OWN EXPERTS NUMBERS - my fix still gets us the lions share of the way there.

    Attacking and demonizing and distorting my position does not change that.
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    Re: Social Security To Go Bust By 2030: CBO

    I remember when people were saying that Social Security would be bankrupt by 1975. The problem is that social security taxes are sent to the general treasury fund like all other taxes and Social Security payments are made from the general fund like all other payments. There isn't anything to go bankrupt other than the government itself and I suspect that it will take about 20 years for that to happen.

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