Yes, it should be eliminated completely.
Yes, I could handle a small level of program reduction.
No, its my money, and the government has no right to touch it.
I dont know and/or it depends on what is offered as a replacement program.
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
I never said he did, what I said was that since 1945, Republican Presidents have approved more spending than Democrat Presidents.The President doesn't control the spending.
Show me the Republican vetoes of spending since 1945?
.Social Security, primarily, pays people from what new people put into the system (not from what people put in themselves)
That is the way every insurance company operates.
Of course, that is why it will be necessary to cut wasteful spending and the eliminate the temporary tax cuts for the rich. It was stupid to cut taxes and wage unfunded two simultaneous wars at the same time. Were you under the impression that no one would ever have to pay for them?When it runs short, it's backed by the Treasury. When the Treasury runs short, Congress raises the debt ceiling. If, eventually, Congress doesn't balance the budget and can't borrow more money, Social Security, at some point, will default.
Meh, raise or remove the FICA CAP, problem solved for the long term!On paper, it looks pretty stable right now: Social Security Online - HISTORY -- the worry is the increasing population in retirees compared to those putting money into the system -- starting about 2020: http://www.cbo.gov/ftpdocs/96xx/doc9...rityUpdate.pdf (BAD NEWS!)
Last edited by Catawba; 09-10-11 at 11:27 PM.
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
Thus Sayeth the Social Security Administration:
...There has been a temptation throughout the program's history for some people to suppose that their FICA payroll taxes entitle them to a benefit in a legal, contractual sense. That is to say, if a person makes FICA contributions over a number of years, Congress cannot, according to this reasoning, change the rules in such a way that deprives a contributor of a promised future benefit. Under this reasoning, benefits under Social Security could probably only be increased, never decreased, if the Act could be amended at all. Congress clearly had no such limitation in mind when crafting the law. Section 1104 of the 1935 Act, entitled "RESERVATION OF POWER," specifically said: "The right to alter, amend, or repeal any provision of this Act is hereby reserved to the Congress." Even so, some have thought that this reservation was in some way unconstitutional. This is the issue finally settled by Flemming v. Nestor.
In this 1960 Supreme Court decision Nestor's denial of benefits was upheld even though he had contributed to the program for 19 years and was already receiving benefits. Under a 1954 law, Social Security benefits were denied to persons deported for, among other things, having been a member of the Communist party. Accordingly, Mr. Nestor's benefits were terminated. He appealed the termination arguing, among other claims, that promised Social Security benefits were a contract and that Congress could not renege on that contract. In its ruling, the Court rejected this argument and established the principle that entitlement to Social Security benefits is not contractual right...
“If we must have an enemy at the head of Government, let it be one whom we can oppose, and for whom we are not responsible, who will not involve our party in the disgrace of his foolish and bad measures.”
- Alexander Hamilton. Spiritual father of #NeverTrump
Thats perfect if you can make enough to do that...but with walmart the countries largest employer most americans cant....oh and ask all the people at retirement age RIGHT NOW how their 401k is doing....their answer will be we lost 30 to 70% of our retirement....ask the employees of WorldCom and Enron how 401ks worked for them.....401ks health are at the whim and discression of the greedy rich...s