Page 6 of 28 FirstFirst ... 4567816 ... LastLast
Results 51 to 60 of 279

Thread: Social Security To Go Bust By 2030: CBO

  1. #51
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by haymarket View Post
    Which is why we must take action to
    1 - pop the cap on FICA contribution so that ALL 100% of earners pay FICA on all 100% of their earnings just like 93% of earners do today
    2 - freeze benefit levels with a possible modest inflation increase

    Studies and experts have demonstrated that if you do these two things, you solve over 80% of this financial problem.
    Wind it down and stop the stupidity. That's the real answer
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  2. #52
    Banned
    Join Date
    Mar 2010
    Last Seen
    07-19-17 @ 03:51 PM
    Gender
    Lean
    Libertarian
    Posts
    60,458

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Carleen View Post
    Free lunch? I paid into Soc Sec for 30 years. Now I am collecting what I put in.
    Nope, you're money is gone. You are collecting what other people put in.

  3. #53
    Sage
    Renae's Avatar
    Join Date
    Aug 2007
    Location
    San Antonio Texas
    Last Seen
    10-23-17 @ 10:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    38,972
    Blog Entries
    15

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Carleen View Post
    Free lunch? I paid into Soc Sec for 30 years. Now I am collecting what I put in.
    Nope. You paid thirty years for others. There be less workers. Too bad.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



  4. #54
    Sage

    Join Date
    May 2007
    Last Seen
    01-18-18 @ 01:02 AM
    Lean
    Conservative
    Posts
    7,977

    Re: Social Security To Go Bust By 2030: CBO

    How can something manged by the fed. govt. be going broke?

  5. #55
    Sage
    RDS's Avatar
    Join Date
    Oct 2009
    Location
    Singapore
    Last Seen
    12-18-17 @ 11:14 PM
    Gender
    Lean
    Undisclosed
    Posts
    5,398

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Carleen View Post
    Free lunch? I paid into Soc Sec for 30 years. Now I am collecting what I put in.
    This explains why it is a free lunch on wheels.

    The American Enterprise: Social Security is Broken

  6. #56
    Sage
    Montecresto's Avatar
    Join Date
    Aug 2013
    Last Seen
    03-13-16 @ 11:59 PM
    Lean
    Undisclosed
    Posts
    24,561

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Slyfox696 View Post
    Holy red herring Batman!

    Please stay on topic. First you created a misleading headline. Then, when given a factual number from the CBO on how to keep the Trust Fund funded for the next ~75 years, you go off on random tangents about parents.

    The fact of the matter is Social Security is not going bust. It's a pay as you go system. The trust fund could be made solvent until 2087 (under current law) by raising payroll taxes to 16%. I have no idea whether people would accept that or not, but that wasn't the point. The point was you created a hypothetical scenario and I countered with an equally possible hypothetical scenario. To create my hypothetical scenario, I used actual numbers from the CBO, which you seemed to think I pulled out of a hat. And to counter this, you went off on a red herring.

    Please discuss this without hyperbole. That's all I'm asking.
    The ratio between those paying in and those drawing isn't what it was 40-50 years ago. If it truly was pay as you go, why would it only be solvent until 2087, why not in perpetuity? My father retired and started drawing in 1986, he's 90 now and still drawing. He has far outdrawn what he paid in. My mother having never worked a day outside the home, and having never paid into it, started drawing in 1990, she is still drawing. That's not sustainable.
    Killing one person is murder, killing 100,000 is foreign policy

  7. #57
    Sage

    Join Date
    Dec 2011
    Location
    Florida
    Last Seen
    Today @ 06:03 PM
    Gender
    Lean
    Liberal
    Posts
    23,837

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by JoeTheEconomist View Post
    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.
    Voters? Since when do we have votes on social programs? No candidate would be stupid enough to campaign on a platform that ends Social Security either. You are dreaming.

  8. #58
    Guru

    Join Date
    Apr 2012
    Location
    Atlanta, GA
    Last Seen
    01-18-18 @ 11:42 AM
    Gender
    Lean
    Centrist
    Posts
    2,724

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by mtm1963 View Post
    the point, there is NO trust fund because it has been spent by congress. that 2.8 trillion dollars spent by congress from the SS trust fund is part of the national debt. its called Intragovernmental Holdings.

    Government - Frequently Asked Questions about the Public Debt

    there is NO doubt the government will honor all of its debts.
    There is no difference between the securities in the intragovernmental holdings and the securities in the publicly held. So you are right, but the information isn't useful. Whether the govt honors its debts in the future is unknown. No one at this point suspects that it will not honor the debt held by the Trust Fund.

    Again, if the Trust Fund isn't real, how did scheduled benefits get paid.

  9. #59
    Sage
    Anthony60's Avatar
    Join Date
    Mar 2013
    Location
    Northern New Jersey
    Last Seen
    Today @ 10:04 AM
    Gender
    Lean
    Conservative
    Posts
    7,801

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Carleen View Post
    Free lunch? I paid into Soc Sec for 30 years. Now I am collecting what I put in.
    But you expect to be paid until you die? What if that date goes beyond what you have paid in? At least in a private plan, you get a better return and know exactly what you have.
    "We have met the enemy and they are ours..." -- Oliver Hazard Perry
    "I don't want a piece of you... I want the whole thing!" -- Bob Barker

  10. #60
    Guru

    Join Date
    Apr 2012
    Location
    Atlanta, GA
    Last Seen
    01-18-18 @ 11:42 AM
    Gender
    Lean
    Centrist
    Posts
    2,724

    Re: Social Security To Go Bust By 2030: CBO

    Quote Originally Posted by Slyfox696 View Post
    Holy red herring Batman!

    Please stay on topic. First you created a misleading headline. Then, when given a factual number from the CBO on how to keep the Trust Fund funded for the next ~75 years, you go off on random tangents about parents.

    The fact of the matter is Social Security is not going bust. It's a pay as you go system. The trust fund could be made solvent until 2087 (under current law) by raising payroll taxes to 16%. I have no idea whether people would accept that or not, but that wasn't the point. The point was you created a hypothetical scenario and I countered with an equally possible hypothetical scenario. To create my hypothetical scenario, I used actual numbers from the CBO, which you seemed to think I pulled out of a hat. And to counter this, you went off on a red herring.

    Please discuss this without hyperbole. That's all I'm asking.
    I misunderstood your point. I thought you were suggesting that if future voters ended Social Security that they would have to pay 16% of their wages to support their parents. Yes, CBO projects that they can pay 16% of their wages to support everyone's parents, or they can cut back the system and take care of their own parents and the debt that was left to them by everyone's parents. Today the system has a negative return. People contribute more to it than the expect to collect from it, and your solution is to throw another 25% more at the system. Again, I can't imagine what will go wrong with that idea.

Page 6 of 28 FirstFirst ... 4567816 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •