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Thread: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a future Am

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by cpwill View Post
    but i've seen these lines out of several of our seasoned posters. is the AARP sending out propaganda or something?
    Its REALLY not appropriate for you to be asking if there's propaganda around, memeherd.
    Anyone wondering what I'm talking about start here:
    The Psychology of Persuasion

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by SE102 View Post
    Not that I have too many cards coming into this discussion. But how exactly is what you said above true?
    Basically the return SS provides is much less than the average return on the stock market, year over year.
    Not to mention that if you die before attaining retirement age, all of your SS dollars are lost, well all except a measly $255 death benefit.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by Harry Guerrilla View Post
    Basically the return SS provides is much less than the average return on the stock market, year over year.
    Not to mention that if you die before attaining retirement age, all of your SS dollars are lost, well all except a measly $255 death benefit.
    Not to mention that social security dollars are being used for purposes not originally intended. A big outlay now goes into disability costs. With the bad economy, more people are claiming and receiving disability money. Taking money out of the fund for a reason not originally intended.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    When did anyone give the "richest" americans a 25% tax cut? When did corporations get a tax cut. Please respond ASAP.I am filling out by tax return but it must have th tax brackets wrong on my form.
    Paul Ryan proposed a 25% tax cut for the richest americans...corporations were given a tax cut by reagan ...from 46% down to 34%

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by washunut View Post
    Not to mention that social security dollars are being used for purposes not originally intended. A big outlay now goes into disability costs. With the bad economy, more people are claiming and receiving disability money. Taking money out of the fund for a reason not originally intended.
    It's a wash, time to dump it for something else.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by lpast View Post
    Paul Ryan proposed a 25% tax cut for the richest americans...corporations were given a tax cut by reagan ...from 46% down to 34%
    Ryan cut the rates; but then got rid of the loopholes in order to keep the whole thing revenue neutral. Have your taxes really gone down if you're still paying in the same amount (or, in some cases; more)?

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by EarlzP View Post
    "Dude"
    Dude


    Dude?



    Duuude.



    The republicans and tea baggers apparently can sell their constituents on things like President Obama's eligibility to run for President
    full stop. the Tea Party is not the same as the birthers. many birthers are probably tea partiers, but many of the 9/11 truthers were also democrats. that doesn't make Barack Obama a gibbering conspiracy theorist.

    I doubt you are going to sell your Ponzi Wall Street Scheme again this quickly
    what wall street ponzi scheme?

    Wall Street and the American economy were both on the verge of collapse when President Obama took office, your hero ex President Bush instead of taking care of the business of the United States had involved us in two wars going so far as to borrow money from the Chinese to finance his need to be a war president
    yup. and he screwed up the recession, too. lots of people forget that Bush started the bailouts and started the "stimulus". don't get me wrong, i'm in favor of his first term foriegn policy; but his second term economic policy was atrocious. then Obama got into office and did all the same dumb things he had done; but on crack.

    Within a month of telling the American people that the state of our economy was strong our nations economy was on the edge of collapse
    that's what he gets for trusting the Fed. who also told us that the subprime market was "contained" right before Bear Stearns went up in flames.

    Wall Street and the Bankers were bailed out using tax payer dollars
    the banks were. UAW was. wall street in general? not so much; which is why it tanked.

    and now you think that people are going to trust Wall Street with their retirement
    wall street gives you a 99% chance of being just fine at retirement. for anyone below the age of 50, as it currently exists, social security has roughly a 2% chance of being fine at retirement. but i'll amend the proposition; at age 65, if you like, you can turn your private account back over to the government and go right back on the old system. how about that?

    the average American will see that scheme for exactly what it is, a chance to pick the pockets of hard working Americans.
    the average American already invests in the market; that's what a 401(k), an IRA, the government's TSP, and pension plans are. Money that is invested in the market to allow people to retire.

    Wall Street is nothing but a Ponzi Scheme
    again, if you have any evidence of this, i would like to see it. I would especially like to know who's running this scheme; you always gotta have an entity on top; who has us all fooled by making us think that there are actually things like "companies" and "factories" and "commodities" in America?

    oh; those things actually exist? and your claim here is ludicrous - the kind of crap a particularly facetious marxist says after a particularly hard toke?

    gotit.


    $29 Billion Stimulus Package – Wall Street Bailout
    The Federal Reserve stepped in to prevent the collapse of Bear Stearns (one of the world’s largest investment banks and brokerage firms) by guaranteeing $29 billion worth of potential losses in its battered portfolio. This provided enough economic stimulus for JP Morgan Chase to take over the beleaguered firm.

    $200 Billion Stimulus Package – Fannie Mae and Freddie Mac Bailout
    Fannie Mae and Freddie Mac (privately owned mortgage companies that are backed by the federal government) were about to fail, due to declining house prices and rising foreclosures. The Bush Administration stepped in with a $200 billion economic stimulus package and placed Fannie Mae and Freddie Mac and their $5 trillion in home loans in “temporary conservatorship,” to be supervised by the Federal Housing Finance Agency.

    September – November 2008
    $150 Billion Stimulus Package – AIG Bailout
    With the world’s largest insurance company in dire straits and 74 million clients at risk, the American government chipped in and gave AIG (American Insurance Group) $150 billion in a stimulus package that included: loans, purchase of toxic assets, and purchase of preferred shares.

    October 2008
    $700 Billion Stimulus Package – Banks Bailout
    The Bush Administration, under the umbrella of the U.S. Treasury, committed $700 billion in economic stimulus money under TARP (Troubled Asset Relief Program). By many accounts, if this economic stimulus money hadn’t been injected, credit between banks would have frozen overnight, and not only the American economy, but also the global economy, would have seized up.

    March 2009
    $30 Billion Stimulus Package – AIG Bailout
    The federal government intervened once again to help insurance giant AIG, this time in the form of a $30 billion loan from TARP funds. (See above in the September-November 2008 entry, for more information on other AIG bailouts.)

    March 2009
    $1 Trillion "Toxic Asset" Program – Banks Bailout
    The Obama Administration launched a public-private economic stimulus venture (involving the U.S. Treasury and FDIC) to try to get toxic assets off the balance sheets of banks so that they can return to normal lending practicesMarch 2009.
    and you found free market advocates in opposition to every one of those. it was part of the political middle and the left of the day that supported those bailouts, not the political right. they objectively made "wall street" worse in the long run.
    Last edited by cpwill; 04-10-11 at 07:14 AM.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by lpast View Post
    Paul Ryan proposed a 25% tax cut for the richest americans...corporations were given a tax cut by reagan ...from 46% down to 34%
    Last time I looked Ryan is just a proposal that will not go into effect. Reagan was 35 years ago, please try better.

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by cpwill View Post
    Dude


    Dude?

    full stop. the Tea Party is not the same as the birthers. many birthers are probably tea partiers, but many of the 9/11 truthers were also democrats. that doesn't make Barack Obama a gibbering conspiracy theorist.



    what wall street ponzi scheme?



    yup. and he screwed up the recession, too. lots of people forget that Bush started the bailouts and started the "stimulus". don't get me wrong, i'm in favor of his first term foriegn policy; but his second term economic policy was atrocious. then Obama got into office and did all the same dumb things he had done; but on crack.




    that's what he gets for trusting the Fed. who also told us that the subprime market was "contained" right before Bear Stearns went up in flames.



    the banks were. UAW was. wall street in general? not so much; which is why it tanked.



    wall street gives you a 99% chance of being just fine at retirement. for anyone below the age of 50, as it currently exists, social security has roughly a 2% chance of being fine at retirement. but i'll amend the proposition; at age 65, if you like, you can turn your private account back over to the government and go right back on the old system. how about that?



    the average American already invests in the market; that's what a 401(k), an IRA, the government's TSP, and pension plans are. Money that is invested in the market to allow people to retire.



    again, if you have any evidence of this, i would like to see it. I would especially like to know who's running this scheme; you always gotta have an entity on top; who has us all fooled by making us think that there are actually things like "companies" and "factories" and "commodities" in America?

    oh; those things actually exist? and your claim here is ludicrous - the kind of crap a particularly facetious marxist says after a particularly hard toke?

    gotit.




    and you found free market advocates in opposition to every one of those. it was part of the political middle and the left of the day that supported those bailouts, not the political right. they objectively made "wall street" worse in the long run.
    Duuude.



    The Bailout Was a Wealth Transfer Scheme

    “This explicit promise by the Treasury to bail out GSEs in times of economic difficulty helps the GSEs attract investors who are willing to settle for lower yields than they would demand in the absence of the subsidy. Thus, the line of credit distorts the allocation of capital. More importantly, the line of credit is a promise on behalf of the government to engage in a huge unconstitutional and immoral income transfer from working Americans to holders of GSE debt…

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    Re: Schakowsky tears into Cantor for saying Social Security ‘cannot exist’ in a futur

    Quote Originally Posted by haymarket View Post
    that is ludicrous. If you popped the cap and everyone paid the same percentage of FICA from every dollar they earned, there would be enough SS money for another seven decades without any problems.
    In 2008, the additional SS tax of those with salaries and wages of 100,000 or more would have come to a total of 5,243,610,342. This is hardly enough to keep the SSI system solvent under the current expenditures of the SS system, much less to pay for the future expenditures. Data from the IRS is not available for 2009 or 2010, but it is likely that those numbers are smaller for both years. 2008 Tax Data

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