razoo » 25 Jun 2023, 7:30 am » wrote: ↑ Rumors are every where that this bogus republican party has appointed a secret committee under the guise of reducing government spending however Medicare and SSI are the two main objects.......
Keep this is mind:
What impact would the conversion to private accounts have on the national debt? The government would have to borrow an additional $4 trillion over the next 20 years to make up the money that would be drained out of the system by private accounts.
Former President Bush and Congress racked up an average $793 billion deficit each year Bush was in office. Social Security privatization would raise the size of the government’s deficit by another $300 billion per year for the next 20 years.
This does not seem to bother Republicans, as long as they are in power. In fact, by the time the second Bush left office, the national debt had grown to $12.1 trillion. Over half of that amount had been created by Bush’s tax cuts for the very wealthy.
Another 30% of the national debt had been created by the tax cuts for the wealthy under Presidents Reagan and George H.W. Bush. Fully 81% of the national debt was created by just these three Republican Presidents.
How would the rest of the U.S. economy be affected if the private accounts replaced the current system? Put simply, moving to a system of private accounts would not only put retirement income at risk—it would likely put the entire economy at risk.
https://www.dollarsandsense.org/archive ... 11orr.html
because the government spent the money that should have been in a lockboxjohndnorth » 25 Jun 2023, 9:39 am » wrote: ↑ SS is the largest Ponzi scheme in history. The boomers will break it.
This dick sucker sees no irony, here.
The money is secured by the full faith and credit of the United States government. Social security bonds are exactly like any other bond the government issues.Mrkelly » 25 Jun 2023, 3:26 pm » wrote: ↑ because the government spent the money that should have been in a lockbox
and if we do break it, it’s because we got the money that we put in
That's the rumor.Z09 » 25 Jun 2023, 3:54 pm » wrote: ↑ Hey Razoo...
The link is from almost 14 years ago...
And we still have social security....
Cannonpointer » 25 Jun 2023, 4:13 pm » wrote: ↑ That's the rumor.
Here's another: razoo is a reliably retarded ****.
the way to save social security is to lift the limit on how much money can be taxed for social security. right now the limit is $160,00- everything above that is not taxed for social security.Mrkelly » 25 Jun 2023, 3:26 pm » wrote: ↑ because the government spent the money that should have been in a lockbox i
and if we do break it, it’s because we got the money that we put in
No, limit the payments to those who have paid into it.jerrab » 25 Jun 2023, 4:29 pm » wrote: ↑ the way to save social security is to lift the limit on how much money can be taxed for social security. right now the limit is $169,00- everything above that is not taxed for social security.
lift the cap. there is no reason to have such a low cap
How many times have you reached the cap?jerrab » 25 Jun 2023, 4:33 pm » wrote: ↑ lift the cap. there is no reason to have such a low cap
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The limit on annual earnings subject to Social Security taxes is referred to as the taxable maximum or the Social Security tax cap. For 2023, that maximum is set at $160,200, an increase of $13,200 from last yea
I stopped reading at the first word kazoo...****...razoo » 25 Jun 2023, 7:30 am » wrote: ↑ Rumors are every where that this bogus republican party has appointed a secret committee under the guise of reducing government spending however Medicare and SSI are the two main objects.......
Keep this is mind:
What impact would the conversion to private accounts have on the national debt? The government would have to borrow an additional $4 trillion over the next 20 years to make up the money that would be drained out of the system by private accounts.
Former President Bush and Congress racked up an average $793 billion deficit each year Bush was in office. Social Security privatization would raise the size of the government’s deficit by another $300 billion per year for the next 20 years.
This does not seem to bother Republicans, as long as they are in power. In fact, by the time the second Bush left office, the national debt had grown to $12.1 trillion. Over half of that amount had been created by Bush’s tax cuts for the very wealthy.
Another 30% of the national debt had been created by the tax cuts for the wealthy under Presidents Reagan and George H.W. Bush. Fully 81% of the national debt was created by just these three Republican Presidents.
How would the rest of the U.S. economy be affected if the private accounts replaced the current system? Put simply, moving to a system of private accounts would not only put retirement income at risk—it would likely put the entire economy at risk.
https://www.dollarsandsense.org/archive ... 11orr.html
Z09 » 25 Jun 2023, 3:53 pm » wrote: ↑ "...rumors are everywhere......."
Yeah...
Like those pee tapes....
FYI, NOT a rumor...
RebelGator » 25 Jun 2023, 5:10 pm » wrote: ↑ How many times have you reached the cap?
That's the real story isn't it, you're one of those envy Democrats, like Onassis.
RebelGator » 25 Jun 2023, 5:10 pm » wrote: ↑ How many times have you reached the cap?
That's the real story isn't it, you're one of those envy Democrats, like Onassis.
Good post! I gave you 4 Greenies!Cannonpointer » 25 Jun 2023, 4:12 pm » wrote: ↑ The money is secured by the full faith and credit of the United States government. Social security bonds are exactly like any other bond the government issues.
Except that they are no longer fungible (thank you ron reagan). Which means that they cannot be sold EXCEPT to the government, whereas wall street speculators can sell their bonds to anyone.
They do indeed plan to **** us out of our retirement - have intended as much for 40 years. But the irony is, they have to wait for the boomers, because the boomers are too numerous and they all vote.
Of course, if they decide to cancel elections... cuz covud or cuz some other scam...