Re: Obama 10: Rahm it through.....even in the shower.
SS is already paying out more than it takes in
SS is already paying out more than it takes in
USCHO Fan Forum
This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!
-
The USCHO Fan Forum has migrated to a new plaform, xenForo. Most of the function of the forum should work in familiar ways. Please note that you can switch between light and dark modes by clicking on the gear icon in the upper right of the main menu bar. We are hoping that this new platform will prove to be faster and more reliable. Please feel free to explore its features.
Obama 10: Rahm it through.....even in the shower.
- Thread starter Plante26
- Start date
- Status
Re: Obama 10: Rahm it through.....even in the shower.
A problem easily solved by 1) means testing the benefits, and 2) more favorable demographics as the huge baby boomer population starts exiting the scene.
Of all the financial issues facing the country, SoS is the easiest one to remedy. You can even do it without increasing the tax.
A problem easily solved by 1) means testing the benefits, and 2) more favorable demographics as the huge baby boomer population starts exiting the scene.
Of all the financial issues facing the country, SoS is the easiest one to remedy. You can even do it without increasing the tax.
Foxton
Banned
Re: Obama 10: Rahm it through.....even in the shower.
The baby boomers will never die, they'll plague the world until their grandkids are dead.
P
Priceless
Guest
Re: Obama 10: Rahm it through.....even in the shower.
The Death Panels will take care of it.
The Death Panels will take care of it.
Re: Obama 10: Rahm it through.....even in the shower.
That was funny. Because death panels are funny.
That was funny. Because death panels are funny.
walrus
Wind up workin' in a gas station
Re: Obama 10: Rahm it through.....even in the shower.
So folks are going to pay into SS their whole working life but not get anything back if they were successful, thats greats and should go over big. I hope Obama proposes that tomorrow
So folks are going to pay into SS their whole working life but not get anything back if they were successful, thats greats and should go over big. I hope Obama proposes that tomorrow
rufus
rock and roller
Re: Obama 10: Rahm it through.....even in the shower.
We're told all the time that it's not supposed to be a retirement plan, and people need to make their own nest egg for retirement, that SS is only supposed to provide just enough so the elderly don't have to be homeless and starving.
Aren't we? If you're not homeless and starving, what do you need SS for?
I say just lift the cap on income that SS taxes are taken from. Instead of only taxing up to $95,000 of income or whatever it is now, tax the whole amount. Problem solved.
So folks are going to pay into SS their whole working life but not get anything back if they were successful, thats greats and should go over big. I hope Obama proposes that tomorrow
We're told all the time that it's not supposed to be a retirement plan, and people need to make their own nest egg for retirement, that SS is only supposed to provide just enough so the elderly don't have to be homeless and starving.
Aren't we? If you're not homeless and starving, what do you need SS for?
I say just lift the cap on income that SS taxes are taken from. Instead of only taxing up to $95,000 of income or whatever it is now, tax the whole amount. Problem solved.
Re: Obama 10: Rahm it through.....even in the shower.
Who said anything about not getting anything back?
So folks are going to pay into SS their whole working life but not get anything back if they were successful, thats greats and should go over big. I hope Obama proposes that tomorrow
Who said anything about not getting anything back?
ScoobyDoo
NPC
Re: Obama 10: Rahm it through.....even in the shower.
I think it needs to be one or the other. Means testing or what you've suggested. I wish they'd do it sooner rather than later.
Re: Obama 10: Rahm it through.....even in the shower.
First, I agree they have to do something...not trying to argue with that point.
As for your suggestion...I don't know, it may be foolish to try to keep to the ideals of the program but as soon as you do one of those two above you really have eliminated the 'saving for your later years' aspect of the program. It becomes, 'saving for somebody else's later years'.
Potato, potahto in terms of the math, but if they wanted to do what you suggest I would propose not having ss tax and income tax, just eliminate ss tax and create some efficiency by going to one tax. No need to maintain the charade.
I know what you are thinking...create efficiency, the government? Yeah, it has been a long day
First, I agree they have to do something...not trying to argue with that point.
As for your suggestion...I don't know, it may be foolish to try to keep to the ideals of the program but as soon as you do one of those two above you really have eliminated the 'saving for your later years' aspect of the program. It becomes, 'saving for somebody else's later years'.
Potato, potahto in terms of the math, but if they wanted to do what you suggest I would propose not having ss tax and income tax, just eliminate ss tax and create some efficiency by going to one tax. No need to maintain the charade.
I know what you are thinking...create efficiency, the government? Yeah, it has been a long day
Hammer
We'll be back.
Re: Obama 10: Rahm it through.....even in the shower.
Raise the beginning retirement age from 62 to 67 for those of us 40 and under (I'm 35 so I'm in the crosshairs here). You really can't do that in good conscience to people in their mid-40s to 50's, so you've got to go younger than that. Being 62 in the 1930's, 40's and 50's is not the same as being 62 today. People aren't exactly falling over dead at 64 now. It's a lot easier on the system if you're drawing for 10-15 years instead of 20-25 and beyond.
Raise the beginning retirement age from 62 to 67 for those of us 40 and under (I'm 35 so I'm in the crosshairs here). You really can't do that in good conscience to people in their mid-40s to 50's, so you've got to go younger than that. Being 62 in the 1930's, 40's and 50's is not the same as being 62 today. People aren't exactly falling over dead at 64 now. It's a lot easier on the system if you're drawing for 10-15 years instead of 20-25 and beyond.
Patman
Rodent of Unusual Size
Re: Obama 10: Rahm it through.....even in the shower.
The problem is its not a retirement plan... its an insurance plan... at least it was originally sold as an insurance plan. Turns out a lot of us live to see that money... so either more has to be put into it or it has to be changed.
The problem is its not a retirement plan... its an insurance plan... at least it was originally sold as an insurance plan. Turns out a lot of us live to see that money... so either more has to be put into it or it has to be changed.
Re: Obama 10: Rahm it through.....even in the shower.
It has $2trillion "trust fund" borrowed by uncle sam. That's where the panel in congressional hearings keep talking about public debt vs total debt.
The big problem is that our gov can't "borrow" from the surplus from SS and have to sell more bonds/tnotes to fund the deficit.
US government has total debt of $12trillion. but only $8trillion has been borrowed from the public (bonds,tnotes sold to china and other investors) And rest internally from SS ($2trillion) and federal retirement funds ($2trillion).
Only solution is to raise the age limit again. since we can't even inflate our way out with SS pegged to the inflation rate. Or higher fica tax.
It has $2trillion "trust fund" borrowed by uncle sam. That's where the panel in congressional hearings keep talking about public debt vs total debt.
The big problem is that our gov can't "borrow" from the surplus from SS and have to sell more bonds/tnotes to fund the deficit.
US government has total debt of $12trillion. but only $8trillion has been borrowed from the public (bonds,tnotes sold to china and other investors) And rest internally from SS ($2trillion) and federal retirement funds ($2trillion).
Only solution is to raise the age limit again. since we can't even inflate our way out with SS pegged to the inflation rate. Or higher fica tax.
Last edited:
WeWantMore
New member
Re: Obama 10: Rahm it through.....even in the shower.
Love Obama's new energy plan, does a perfect job of angering both sides, keep carving out the middle there Barry.
Love Obama's new energy plan, does a perfect job of angering both sides, keep carving out the middle there Barry.
Re: Obama 10: Rahm it through.....even in the shower.
Means testing is the way to go, or just reduce the promised benefits. Every year we all get the mailing, and its said they can only pay out 75% of the total at retirement as things stand now. Great, just make the 75% the new promise at retirement and lets call it a day. I'm not retiring for another 30 years, so really its not going to affect my life or retirement strategy any.
So I'll say again, despite the pleas of whiny knuckledraggers, Social Security is the least problematic of the country's budget problems. A few relatively painless tweaks and you will have weathered the demographic oddity of one generation making up such a large % of the country's population, and then the program becomes even more stable.
Means testing is the way to go, or just reduce the promised benefits. Every year we all get the mailing, and its said they can only pay out 75% of the total at retirement as things stand now. Great, just make the 75% the new promise at retirement and lets call it a day. I'm not retiring for another 30 years, so really its not going to affect my life or retirement strategy any.
So I'll say again, despite the pleas of whiny knuckledraggers, Social Security is the least problematic of the country's budget problems. A few relatively painless tweaks and you will have weathered the demographic oddity of one generation making up such a large % of the country's population, and then the program becomes even more stable.
Re: Obama 10: Rahm it through.....even in the shower.
If you're under the age of 35 and expect to see one red cent from Social Security at any age unless you're disabled (now), I would like you to contact me immediately to take part in an exciting business opportunity from Nigeria that will net both of us millions.
Or if you're Priceless, I have an amazing weight loss plan devised by a mom in your hometown.
If you're under the age of 35 and expect to see one red cent from Social Security at any age unless you're disabled (now), I would like you to contact me immediately to take part in an exciting business opportunity from Nigeria that will net both of us millions.
Or if you're Priceless, I have an amazing weight loss plan devised by a mom in your hometown.
Re: Obama 10: Rahm it through.....even in the shower.
Well of course Red Cloud, because in your world 30 years hence Barack Obama will just be finishing up his 8th term in office having usurped the Constitution long ago. We'll all be worshiping some weird sort of pagan God at the gubmint's behest while cannibalism is all the rage amongst the serfs who weren't smart enough to join ACORN when they had the chance.
Is that about right?
Well of course Red Cloud, because in your world 30 years hence Barack Obama will just be finishing up his 8th term in office having usurped the Constitution long ago. We'll all be worshiping some weird sort of pagan God at the gubmint's behest while cannibalism is all the rage amongst the serfs who weren't smart enough to join ACORN when they had the chance.
Is that about right?
ScoobyDoo
NPC
Re: Obama 10: Rahm it through.....even in the shower.
I think if I were one of the "rich" folks I'd like to just keep paying only on a hundred thousand and just not getting my benefits unless I need them (insurance) later in life. That seems to be the way to go to me.
I think if I were one of the "rich" folks I'd like to just keep paying only on a hundred thousand and just not getting my benefits unless I need them (insurance) later in life. That seems to be the way to go to me.
Re: Obama 10: Rahm it through.....even in the shower.
So you're advocating more welfare. I love how people can rationalize stealing as long as you get a member of congress to do it.
Keep in mind, the more you punish success the less you will get of it.
So you're advocating more welfare. I love how people can rationalize stealing as long as you get a member of congress to do it.
Keep in mind, the more you punish success the less you will get of it.
Last edited:
Re: Obama 10: Rahm it through.....even in the shower.
Are you responding to a voice in your head or to me? I'm a little confused as my post had nothing to do with more welfare. If anything, I'm calling for scaling back benefits. If the system can only pay 75% of current levels to people like myself 30+ years from now, my idea is simple. Reset it so that the 75% level is the new payout. Not sure what your issue is with that....
Are you responding to a voice in your head or to me? I'm a little confused as my post had nothing to do with more welfare. If anything, I'm calling for scaling back benefits. If the system can only pay 75% of current levels to people like myself 30+ years from now, my idea is simple. Reset it so that the 75% level is the new payout. Not sure what your issue is with that....
- Status