Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

ss is going broke,how would you reform it.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:49 AM
Original message
ss is going broke,how would you reform it.
how would you fix it.
simply raising taxes isnt the answer,for many reasons among them the FACT it wont pass.
how would you fix it in a way the both raised taxes and curtailed benefits?
becasue thats the only way anything will pass congress
a one sided fix has zero chance.
Printer Friendly | Permalink |  | Top
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:50 AM
Response to Original message
1. Unrec ...it's not going broke.
Printer Friendly | Permalink |  | Top
 
FiveGoodMen Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:50 AM
Response to Reply #1
2. +1
Printer Friendly | Permalink |  | Top
 
CelticThunder Donating Member (460 posts) Send PM | Profile | Ignore Tue Mar-29-11 10:51 AM
Response to Reply #1
6. +1
Printer Friendly | Permalink |  | Top
 
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:52 AM
Response to Reply #6
8. Welcome to DU
Printer Friendly | Permalink |  | Top
 
bigwillq Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:56 AM
Response to Reply #6
13. Hello.
Welcome to DU! :hi:
Printer Friendly | Permalink |  | Top
 
dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:59 AM
Response to Reply #1
19. It may not be broke, but we will be trying to pay it off.
Edited on Tue Mar-29-11 11:01 AM by dkf
It's just going to suck other spending away as we can't even balance our budget when SS took in more than it spent. When it actually needs to be repaid out of general taxes, something else is going to suffer.

This is like borrowing from your 401k. Now we've spent what we borrowed and need to pay the loan back and our paycheck will be reduced by the amount of the loan repayment.
Printer Friendly | Permalink |  | Top
 
TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:20 AM
Response to Reply #1
42. It's stunning how many times we have to repeat this TRUTH.
Idiots abound. :puke:
Printer Friendly | Permalink |  | Top
 
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:03 PM
Response to Reply #42
62. Welcome back ...haven't seen a post from you in months.
Printer Friendly | Permalink |  | Top
 
TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 02:19 PM
Response to Reply #62
98. Thanks.
Yup .. about 18 of 'em. :hi:
Printer Friendly | Permalink |  | Top
 
Jim__ Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:32 AM
Response to Reply #1
47. +1
Printer Friendly | Permalink |  | Top
 
Hosnon Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:13 PM
Response to Reply #1
71. + 1/2.
If the bonds weren't both sold and purchased by us, I'd have given a full "+1".
Printer Friendly | Permalink |  | Top
 
They_Live Donating Member (244 posts) Send PM | Profile | Ignore Tue Mar-29-11 12:19 PM
Response to Reply #1
72. + 1
It's not going broke.

Printer Friendly | Permalink |  | Top
 
Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:34 PM
Response to Reply #1
74. +100
Printer Friendly | Permalink |  | Top
 
mwooldri Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:06 PM
Response to Reply #1
87. If it *was* going broke (which it isn't) then this guy thinks:
1) Hive off Social Security and Medicare into non governmental bodies backed by the government, and ringfence whatever money that they do have well away from Congress's hands...

2) Cash in those IOU's. Let the government then try to fill the hole. Can anyone say "Code Brown" in Congress because they soiled their pants over this?

3) Rename that darned Social Security Tax to become a Social Security Insurance Premium and likewise with Medicare.

4) Let Social Security and Medicare set the premiums themselves, but... the percent of premium increase can only increase X percent a year

5) Set up Social Security and Medicare non profit trust funds that can be contributed to by anyone and the contribution written off as a charitable donation. The charitable trust funds can help supplement the main existing "trust funds".

6) Ensure that when Social Security and Medicare are made separate from the government that a- they cannot be privatized, b- the government isn't completely left off the hook, c- Social Security and Medicare have the ability to innovate and introduce new programs if these non governmental bodies so wish (e.g. a national supplemental pension plan, Medicare for all, etc.)

Just a few ideas.
Printer Friendly | Permalink |  | Top
 
sarcasmo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:02 PM
Response to Reply #1
104. +1
Printer Friendly | Permalink |  | Top
 
Raksha Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:12 PM
Response to Reply #1
106. -1 (another unrec for the OP)
Printer Friendly | Permalink |  | Top
 
rustydog Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 06:42 PM
Response to Reply #1
122. Exactly! When I retire in 8 years, I might have to take 75 or 80%
Edited on Tue Mar-29-11 06:44 PM by rustydog
instead of 100% payout. that is far from "broke, broken or going broke.
If the fucking congress would stop raiding the SS cash box...

I could be wrong here. I believe that around 2025 the rate would drop to 75% for every single retiree in america. a HUGE sum of money. far from broke.

It would be nice if they "fixed" it so the draw would be 100%.
Printer Friendly | Permalink |  | Top
 
coalition_unwilling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:51 AM
Response to Original message
3. SS is NOT going broke. EPIC fail and lie. Unrec.
Printer Friendly | Permalink |  | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:51 AM
Response to Original message
4. what's your evidence that it's going broke? nt
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:00 AM
Response to Reply #4
21. how about the SS administration itself
http://www.ssa.gov/oact/trsum/index.html


Social Security expenditures are expected to exceed tax receipts this year for the first time since 1983. The projected deficit of $41 billion this year (excluding interest income) is attributable to the recession and to an expected $25 billion downward adjustment to 2010 income that corrects for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink substantially for 2011 and to return to small surpluses for years 2012-2014 due to the improving economy. After 2014 deficits are expected to grow rapidly as the baby boom generation’s retirement causes the number of beneficiaries to grow substantially more rapidly than the number of covered workers. The annual deficits will be made up by redeeming trust fund assets in amounts less than interest earnings through 2024, and then by redeeming trust fund assets until reserves are exhausted in 2037, at which point tax income would be sufficient to pay about 75 percent of scheduled benefits through 2084. The projected exhaustion date for the combined OASI and DI Trust Funds is unchanged from last year’s report.
Printer Friendly | Permalink |  | Top
 
xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:10 AM
Response to Reply #21
34. by your own evidence -- it's not in any kind of fiscal trouble until 2035.
our legislators could raise the cap which would solve the problem til -- who knows when.

and you're just wrong about raising taxes -- taxes will have to be raised.

when the austerity measures don't work -- and they won't -- taxes will be raised.
Printer Friendly | Permalink |  | Top
 
gkhouston Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:27 PM
Response to Reply #34
73. That being the case, why is "fixing" SS an urgent priority now?
When has Congress ever shown an interest in addressing a fiscal problem before the last minute?
Printer Friendly | Permalink |  | Top
 
Arugula Latte Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:51 AM
Response to Original message
5. That is incorrect. You've been listening to propaganda from the right.
Printer Friendly | Permalink |  | Top
 
DURHAM D Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:06 AM
Response to Reply #5
32. Not just listening, it seems, but repeating it.
now you don't suppose that the OP is a ?????
Printer Friendly | Permalink |  | Top
 
Arugula Latte Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:12 AM
Response to Reply #32
36. Poster is also big on nuclear power and says "people in the country are tired of high taxes"
He thinks the wealthy shouldn't be taxed more, and "entitlements" need to be cut. Oh, also NPR and art programs should be cut, according to our friend.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:54 AM
Response to Reply #36
52. where have i ever said the wealthy shouldnt be taxed more???
Printer Friendly | Permalink |  | Top
 
Arugula Latte Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 03:12 PM
Response to Reply #52
100. Here's one example:
Printer Friendly | Permalink |  | Top
 
bullwinkle428 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:51 AM
Response to Original message
7. Please don't come in here attempting to peddle RW talking points...KTHXBAI!
Printer Friendly | Permalink |  | Top
 
Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:52 AM
Response to Original message
9. wooo -- another Fox News viewer
:eyes:

FAIL.
Printer Friendly | Permalink |  | Top
 
NightWatcher Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:52 AM
Response to Original message
10. no its not. that's a meme being floated on the right so that they can TAKE it away from us
Printer Friendly | Permalink |  | Top
 
n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:54 AM
Response to Original message
11. Raise the retirement age to 110
And pass the savings on to buy more weapons and start a war in Iran. That is, after all, the answer you are seeking, right?
Printer Friendly | Permalink |  | Top
 
opihimoimoi Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:55 AM
Response to Original message
12. Its set to go broke in 2045....not soon...much later...by which time its fixed
Printer Friendly | Permalink |  | Top
 
jtown1123 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:56 PM
Response to Reply #12
84. The only way SS can "go broke" is if there's 100% unemployment. Surely you're not that gullible
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:57 AM
Response to Original message
14. i see a lot of people have their head in the sand
SS is going broke.. that s a simple fact.. ignoring it wont change it.
but it looks like a lot of people would rather wait 20-30 years and see checks cut off completly rather than fix the problem now.

and if you point that out you automaticly become a fox news viewer or a rw loon..
sad....
Printer Friendly | Permalink |  | Top
 
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:58 AM
Response to Reply #14
16. Enjoy your stay.
Printer Friendly | Permalink |  | Top
 
CountAllVotes Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:18 AM
Response to Reply #14
39. enjoy your stay
and learn how to spell.

:puke:

Printer Friendly | Permalink |  | Top
 
sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:20 AM
Response to Reply #14
41. It is not going broke. It has a surplus of over 2 trillion dollars
We shoud be increasing benefits of the people who built that trust fund.

The wealthy owe SS the money they borrowed. You fix that by making them pay.

Raise their taxes as high as needed until they pay the debt they ran up.

And end the Bush tax cuts.

These greedy Wall St. bastards are the cause of all the problems, not the working people and definitely not those who paid into SS.

You need to learn what is really going on, seriously.
Printer Friendly | Permalink |  | Top
 
lumpy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:53 PM
Response to Reply #41
82. Thank you- This truth should be shouted from the rooftops!
v
Printer Friendly | Permalink |  | Top
 
TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:22 AM
Response to Reply #14
44. You think they're more visible from your ostrich position?
Buy a clue.

:grr:
Printer Friendly | Permalink |  | Top
 
SOS Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:23 AM
Response to Reply #14
45. Social Security was fixed in 1983
If the criminal class in Washington "borrows" from the fund, that's not my problem (or yours).

Should there really be a shortfall in 2037, perhaps General Electric and Exxon could pay more than $0 in federal tax that year.


Printer Friendly | Permalink |  | Top
 
sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:36 AM
Response to Reply #14
48. Will you even be alive in 2084? That's when paying 75% of the benefits will become
Edited on Tue Mar-29-11 11:39 AM by sinkingfeeling
impossible through taxes alone.
Printer Friendly | Permalink |  | Top
 
happyslug Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:52 PM
Response to Reply #48
80. Only under the worse economic conditions
Edited on Tue Mar-29-11 12:54 PM by happyslug
If the economy does as it has since 1980, Social Security will pay 100% in 2084 and afterward, if the economy does the best case situation, then Social Security will reap a windfall. The 75% payment is only if the economy does worse then it has over the last 30 years, much like it has over the last four years. Such loses are NOT expected for the next 73 years and if we have such economic losses, Social Security will be the least of our concerns (i.e. the economy as a whole will be in the dumpster and we would have a revolution).

In fact the 75% figure is used by opponents of Social Security all the time, and then compared with a "private option" assuming the best economic possibility from now to 2084. Notice they do NOT compare the Social Security under the best economic times, with the private option under the same economic situation. Why? the answer is simple, Social Security does better is all three economic assumptions then any private option, thus to get a good number with the private option, you have to compare Social Security assuming the worse economic times with the private option assuming the best economic times. In such a comparison the private option does better, but it is also an example of "Figures don't lie, but Liars Figure". i.e comparing two things under different economic assumptions, whatever is based on the best economic assumption will always do better then whatever it is compared to, when the latter is based on the worse economic assumption.

Just pointing out the 75% payment in 2084 is based on economic assumptions that is NOT used for anything Social Security is being compared to (The reason being, Social Security does better in all economic assumptions then any private option). The main reason for this is that overhead for Social Security is about 2%, private options average around 15% (and never goes below 14%). That 13 percentage point cost advantage for Social Security makes Social Security more cost effective then anything else.
Printer Friendly | Permalink |  | Top
 
sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:26 PM
Response to Reply #80
89. You are correct. I used the '75% in 2084' because it came directly from the SSA site linked to by
the OP author.
Printer Friendly | Permalink |  | Top
 
RebelOne Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:52 PM
Response to Reply #14
81. Well, I am already collecting social security
and I won't be around in 20-30 years, so I am not going to worry about it right now.
Printer Friendly | Permalink |  | Top
 
Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:48 PM
Response to Reply #14
90. do you -like- pizza?
:rofl:
Printer Friendly | Permalink |  | Top
 
CreekDog Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 02:24 PM
Response to Reply #14
99. why would you lie like that? checks won't be "completely cut off" in 20-30 years
if the financial situation is as projected, then the checks would be smaller than anticipated --that's all.

completely cut off? don't come here telling us to take seriously the projections of SSA and then post stuff you just made up.

:wtf:
Printer Friendly | Permalink |  | Top
 
RevStPatrick Donating Member (564 posts) Send PM | Profile | Ignore Tue Mar-29-11 10:57 AM
Response to Original message
15. No capitalization...
Improper punctuation, spelling mistakes, the word FACT in all caps...
Oh, and of course, a faulty premise!

Now, where have I seen that before?
Printer Friendly | Permalink |  | Top
 
walldude Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:58 AM
Response to Original message
17. Fix what? SS is solvent for the next 25 years and after that
it's 75% solvent.

So tell me, whats the big rush? Are there no other more immediate problems? Can we not wait 10 years and see what happens? That leaves us 15 years to get past the 25% insolvency...

Tell me.. what's your rush?
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:01 AM
Response to Reply #17
27. and fixing it in 25 years will
cost a hell of a lot more than it would now.
Printer Friendly | Permalink |  | Top
 
walldude Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:50 AM
Response to Reply #27
51. Well that's not what I said is it...
I said wait 10 years to see what happens then we have 15 years to deal with the 25% insolvency.

Please, can you come up with something that is actually a legitimate debate point? You started with a lie, that SS is in trouble and you are going downhill from there. How about you start at the point that we are actually at.

SS is solvent 100% for the next 25 years and 75% after that. What are we going to do about that 25% in 25 years?. That would be a reasonable starting point. If you want to sit there and solve non existent problems try some right wing site..

Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:00 PM
Response to Reply #17
58. using that logic
we shouldnt do anything to reduce our energy usage since we have enough energy for now.....
Printer Friendly | Permalink |  | Top
 
walldude Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 03:13 PM
Response to Reply #58
101. Wow yeah you really are coming up with some winners..
Are you really comparing our overconsumption of energy with Social Security? Really?

Obviously this is a huge fucking emergency and you better get right on it or the world might end. :eyes:

Knock yourself out. I'm sure the Republicans will be pleased you fell for their bullshit.

Hey you better get on the problem of Radical Muslim Atheists too.

Oh and while you are at it Abortions are causing SS to fail so you better get on that too.

Oh and the top 1% of Americans are sacrificing too much, we need to give them money so they'll create jobs. Get on that will ya?



:rofl: :rofl: :rofl: :rofl:





Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 05:00 PM
Response to Reply #101
117. why not compare the 2
energy overconsumption will cause grrenhouse gas trouble in 25 -50 years.. why not wait til then to confront the problem.. thats what those saying ss wont be broke for 25 years are saying
Printer Friendly | Permalink |  | Top
 
Brother Buzz Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:59 AM
Response to Original message
18. Take a blue pill and call me in thirty years
:shrug:
Printer Friendly | Permalink |  | Top
 
prairierose Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 10:59 AM
Response to Original message
20. I really hate coming here and seeing rw talking points....
first thing. Please read some actual news from reliable sources or ask reasonable questions not based on propaganda and bs.
Printer Friendly | Permalink |  | Top
 
Sheepshank Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:00 AM
Response to Original message
22. Unrec for spreading RW propaganda
Edited on Tue Mar-29-11 11:02 AM by Sheepshank
I can't for the life of me understand why anyone buys this kind of drivel when not one shred of evidence is provided to back up the assumption that NOTHING will be done if and when the emergency arrives.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:02 AM
Response to Reply #22
28. evidence
http://www.ssa.gov/oact/trsum/index.html

Social Security expenditures are expected to exceed tax receipts this year for the first time since 1983. The projected deficit of $41 billion this year (excluding interest income) is attributable to the recession and to an expected $25 billion downward adjustment to 2010 income that corrects for excess payroll tax revenue credited to the trust funds in earlier years. This deficit is expected to shrink substantially for 2011 and to return to small surpluses for years 2012-2014 due to the improving economy. After 2014 deficits are expected to grow rapidly as the baby boom generation’s retirement causes the number of beneficiaries to grow substantially more rapidly than the number of covered workers. The annual deficits will be made up by redeeming trust fund assets in amounts less than interest earnings through 2024, and then by redeeming trust fund assets until reserves are exhausted in 2037, at which point tax income would be sufficient to pay about 75 percent of scheduled benefits through 2084. The projected exhaustion date for the combined OASI and DI Trust Funds is unchanged from last year’s report.


i guess your ok with a 25% benefit cut in the future since theres "no" problem
Printer Friendly | Permalink |  | Top
 
Sheepshank Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:06 AM
Response to Reply #28
33. "....is attributable to the recession " From your article.
Perhaps you are expecting a 25 year long recession?

Can you predict that there will not be an upswing in the economy in the next 25 years?
Printer Friendly | Permalink |  | Top
 
sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:00 AM
Response to Original message
23. Well, since Social Security isn't going broke, there is no need to 'fix' it. However, in order to
provide promised benefits to future generations, we should eliminate the cap on SS payroll deductions.
Printer Friendly | Permalink |  | Top
 
SeattleVet Donating Member (708 posts) Send PM | Profile | Ignore Tue Mar-29-11 11:00 AM
Response to Original message
24. Not going broke for a long time.
By then common sense will have prevailed and the 'cap' will have been moved up to a point that maintains a decent wage base and keeps everything running smoothly.
Printer Friendly | Permalink |  | Top
 
Hugabear Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:00 AM
Response to Original message
25. Unrec for pushing right-wing memes
It's not going broke. The far right is pushing this lie in the hopes they can con people into allowing them to privatize SS
Printer Friendly | Permalink |  | Top
 
MineralMan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:01 AM
Response to Original message
26. It's not going broke. Next topic.
Edited on Tue Mar-29-11 11:02 AM by MineralMan
That's right-wing propaganda. No thanks.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:03 AM
Response to Reply #26
29. no thats the report from the SS administration
Printer Friendly | Permalink |  | Top
 
AlabamaLibrul Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:04 AM
Response to Reply #29
30. 2029 and 2040, at least.
Oh noes! Going broke tomorrow!

Unrec for RW talking point.
Printer Friendly | Permalink |  | Top
 
piratefish08 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:05 AM
Response to Original message
31. except that it's not.
Printer Friendly | Permalink |  | Top
 
liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:11 AM
Response to Original message
35. Who says it is going broke?
The right wing mouthpieces who are known to peddle propaganda and are helping their right wing regime accomplish what they have not been able to do for nearly 70 years.

Printer Friendly | Permalink |  | Top
 
Tippy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:16 AM
Response to Original message
37. Some facts SS is not going broke That is another repuke lie
Another thing SS is NOTan entitlement....that too is a puke lie....If the pukes are
so worried why don't they work to make our sure
government pays us back what it barrowed...REMEMBRE SS is not an entitlement people actulaly worked and paid their money into the account...the Gov felt entitled to barrow it....
Printer Friendly | Permalink |  | Top
 
sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:16 AM
Response to Original message
38. It's not even close to going broke and it doesn't need fixing.
What needs fixing how to get the money they borrowed from SS back from the thieves who took it, to spend on wars etc.

My suggestion is to raise their taxes into the 80% level and let them pay off their debts themselves instead trying to get us to pay them.


Then increase SS benefits since the money is there, which be a stimulus to the economy while giving recipients of benefits a much-needed boost.

For Corps that outsourced jobs, increase their taxes immediately and oh yes, get rid of the Bush Tax cuts in an emergency session of Congress.

End the wars and the bailouts etc and we will have no more problems with the deficit.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:55 AM
Response to Reply #38
53. raise taxes to 80%
and see how many actually pay them..

Printer Friendly | Permalink |  | Top
 
sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:59 AM
Response to Reply #53
57. They're not paying them now. So anything we can get to make
them pay the debts they ran up using OUR money, is better than what they are doing now.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:09 PM
Response to Reply #57
67. not true
the top 10% of incomes in this country pay the bulk of teh total income taxes..
Printer Friendly | Permalink |  | Top
 
sabrina 1 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:42 PM
Response to Reply #67
76. The top 10% of this country have confiscated most of the
money. They are not paying even close to what ordinary people are paying in taxes on a Pro Rata basis.

Ending the Bush Tax cuts would have helped with that. This is costing the American workers billions of dollars they can no longer afford.

Printer Friendly | Permalink |  | Top
 
LanternWaste Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:50 PM
Response to Reply #67
78.  Because the top 10% earned over %20 of gross adjusted income...?
"the top 10% of incomes in this country pay the bulk of teh (sic) total income taxes..."

Because the top 10% earned over %20 of gross adjusted income...? :shrug:

And this despite the fact that that rate has been steadily declining?

You make the bulk, you pay the bulk... equitable, yes?
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:58 PM
Response to Reply #78
113. the top taxpayers
the top 10% of taxpayers earned 46% of the nations income and paid 70% of the total income taxes.
the top 10% of tax payers paid an effective tax rate of 19% the bottom 50% paid an effective rate of 2.6%

Printer Friendly | Permalink |  | Top
 
LanternWaste Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:05 PM
Response to Reply #113
123. General Electric payed how much...?
General Electric payed how much...?
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:07 PM
Response to Reply #123
124. ge isnt an induvidual
Printer Friendly | Permalink |  | Top
 
LanternWaste Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:12 PM
Response to Reply #124
125. What then should be the precise and relevant amount paid b
What then should be the precise and relevant amount paid by the top 10% in taxes? On what objective and peer-reviewed standard is that based on?
Printer Friendly | Permalink |  | Top
 
Sheepshank Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:40 PM
Response to Reply #67
109. seriously?
Edited on Tue Mar-29-11 04:43 PM by Sheepshank
How much do you suppose the top 2% pay? Your statement would imply exponential payments of more than their fair share of taxes....... through to the top tiers? What a joke.
Printer Friendly | Permalink |  | Top
 
pansypoo53219 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:18 AM
Response to Original message
40. it's not in trouble, but the income limit is bullshit +
not adjusted for inflation, get rid of the limit and lower the rate.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:59 AM
Response to Reply #40
56. raise the limit
heres what I would do.
1. raise the limit from 110k or so to 500k
2. raise the age to get benefits slowly from 65 to 70. the fact is when the age was set at 65 most people werent living to get benefits. as people have bene living longer the age hasnt changes
3. get rid of teh automatic cola adjustment. make congress vote on cola raises every year. and if they reject them,let them face the wrath of voters.


but doing nothing because SS wont go broke for 25 years is the same as not doing to increase energy efficency because we have enough oil NOW
Printer Friendly | Permalink |  | Top
 
JoePhilly Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 03:19 PM
Response to Reply #56
102. Companies are firing people at 55. What do you want them to do unitl they hit 70?
Printer Friendly | Permalink |  | Top
 
OHdem10 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:21 AM
Response to Original message
43. Start by getting everyone back to work and therefore paying into
SS Fund.
Printer Friendly | Permalink |  | Top
 
TahitiNut Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:26 AM
Response to Reply #43
46. Exactly. Strategy: (1) Massive unemployment (2) Chicken Little about SocSec.
The right-wing has effectively decimated the working class wage base that funds OASDI by (1) reducng wages and (2) cutting jobs. They then play Chicken Little about the impending doom ... doom, I say.

The 'cure' is obvious: (1) Living wage, and (2) full employment (FUCK 'inflation' fears!).

Printer Friendly | Permalink |  | Top
 
Shagbark Hickory Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:37 AM
Response to Original message
49. I'd make it just like the Alaska Permanent Fund. 25% of all energy revenues go into
investments managed by publicly owned firm.
All citizens get an annual dividend.
Printer Friendly | Permalink |  | Top
 
TK421 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:16 PM
Response to Reply #49
126. I actually like that idea! n/t
Printer Friendly | Permalink |  | Top
 
jwirr Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:42 AM
Response to Original message
50. Raise the cap.
Printer Friendly | Permalink |  | Top
 
Moderator DU Moderator Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:56 AM
Response to Original message
54. SS is going broke because a large portion of the funds have
been used for things other than SS or any of it's subsidiary programs.

First thing to do is to make sure that Congress can't use the money for anything other than SS.

Raise taxes to pay for the wars and pork...if the taxes won't be raised, stop the wars and cut the pork.

Hole the GOP to it's strict interpretation of Capitalism...end all subsidies...consumer prices would go through the roof, but the amount of cash saved would pay down the debt in 3 years.

Lot's of things can be done...but it all starts with getting Congress to quit using the funds.
Printer Friendly | Permalink |  | Top
 
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 02:02 PM
Response to Reply #54
96. Means testing would go a long way. Do the rich really need SS? Remove the cap too.
Edited on Tue Mar-29-11 02:03 PM by L0oniX
Printer Friendly | Permalink |  | Top
 
rasputin1952 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:33 PM
Response to Reply #54
108. Sorry...I hit the wrong button when I posted this...
:blush:
Printer Friendly | Permalink |  | Top
 
w4rma Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 11:56 AM
Response to Original message
55. The correct question is: How do we stop the billionaires from raiding it's funding? (nt)
Edited on Tue Mar-29-11 11:57 AM by w4rma
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:01 PM
Response to Reply #55
60. nobody is raiding its funding
SS recieves IOU's from the government. its not like the government isnt going to repay those bonds. The money hasnt dissapeared.
Printer Friendly | Permalink |  | Top
 
WinkyDink Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:11 PM
Response to Reply #60
69. Why do you have a problem with correct punctuation and capitalization? I can't take anything you
Edited on Tue Mar-29-11 12:12 PM by WinkyDink
write seriously, as your presentation itself suggests ignorance.

And you can add spelling to the list.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 05:01 PM
Response to Reply #69
118. spelling?
i didnt know there was a grammer police board here.
Printer Friendly | Permalink |  | Top
 
TBF Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:12 PM
Response to Reply #60
70. Where is the government going to get the money to repay those IOU's?
Maybe we ought to raise taxes on billionaires? I know you're going to have a mile of excuses as to why we shouldn't do that.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:59 PM
Response to Reply #70
115. last time i checked
we can print money
Printer Friendly | Permalink |  | Top
 
TBF Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 06:28 PM
Response to Reply #115
121. Yeah, that makes a whole lot more sense
:crazy:
Printer Friendly | Permalink |  | Top
 
Donnachaidh Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:52 PM
Response to Reply #60
92. bwahahahahah -- yeah, the Government (IE repukes) raid the account
Hey dumbass -- do you even READ what you yourself write?

"The money hasnt dissapeared."

:rofl: :rofl:
Printer Friendly | Permalink |  | Top
 
TBF Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:00 PM
Response to Original message
59. Unrec for lies -
If you'd stop spending all our SS contributions on Defense (and make the oil companies pay for their own damned security) we'd have plenty of money.
Printer Friendly | Permalink |  | Top
 
rdking647 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:03 PM
Response to Reply #59
61. thats what the lie is
we arent "spending" ss money on defense
if ss gets 100b dollars and the government borrows that 100b for other things ss gets an IOU from the government. that IOU gets repaid as SS needs the money.

Printer Friendly | Permalink |  | Top
 
TBF Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:11 PM
Response to Reply #61
68. Then stop the "borrowing" and put it in a lock box-
companies do it. I understand exactly how it works and I am thoroughly disgusted with the lie that "ss is broke".
Printer Friendly | Permalink |  | Top
 
BobbyBoring Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:04 PM
Response to Original message
63. I keep seeing the SS reports
but I have to ask. Are they more honest than any other sector of our government?

Just askin
Printer Friendly | Permalink |  | Top
 
jtown1123 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:59 PM
Response to Reply #63
86. Yes they are accurate. Check out SS expert Bruce Webb on Angry Bear
Printer Friendly | Permalink |  | Top
 
Rage for Order Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:07 PM
Response to Original message
64. I'd take away the benefits of anyone who claimed SS is, or is going, broke
Seems to be at least a good stop-gap measure

:hi:
Printer Friendly | Permalink |  | Top
 
FreeJoe Donating Member (331 posts) Send PM | Profile | Ignore Tue Mar-29-11 12:07 PM
Response to Original message
65. Tweak
It's not in bad shape. It could use a few tweaks.

I suggest that we increase the ceiling on contributions. Either remove the cap or at least raise it substantially.

The other tweak I suggest is that we make the benefits more progressive. Increase the lowest SS payouts and decrease the highest SS payouts. Not by a lot either way.

I think with these two tweaks, we'll be fine in perpetuity.
Printer Friendly | Permalink |  | Top
 
WinkyDink Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:09 PM
Response to Original message
66. Guess again.
Printer Friendly | Permalink |  | Top
 
pscot Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:36 PM
Response to Original message
75. Horseshit
Do your homework.
Printer Friendly | Permalink |  | Top
 
Wounded Bear Donating Member (665 posts) Send PM | Profile | Ignore Tue Mar-29-11 12:42 PM
Response to Original message
77. My first "reform" is to stop lying about its solvency....
Then I'd raise the cap to say........infinite. :)

"Problem" solved.
Printer Friendly | Permalink |  | Top
 
Cleita Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:50 PM
Response to Original message
79. SS has a 1.6 trillion surplus so stop spreading the
RW talking point about it.
Printer Friendly | Permalink |  | Top
 
jtown1123 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:55 PM
Response to Original message
83. It has $2.6 trillion in surplus. It is NOT BROKE. Thanks for the GOP Talking Points
Printer Friendly | Permalink |  | Top
 
closeupready Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 12:56 PM
Response to Original message
85. No, it's not. Unrecced.
nt
Printer Friendly | Permalink |  | Top
 
Name removed Donating Member (0 posts) Send PM | Profile | Ignore Tue Mar-29-11 01:19 PM
Response to Original message
88. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
demwing Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:49 PM
Response to Original message
91. Lets play along
forget that SS has a multi TRILLION dollar surplus, let's talk about how to easily double that surplus.

Remove the income cap on SS tax.(6.2% on only the first $106k of income). Tax ALL income at 6.2% and your so called problems are solved.
Printer Friendly | Permalink |  | Top
 
alfredo Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:53 PM
Response to Original message
93. Elect progressives in great numbers.
Printer Friendly | Permalink |  | Top
 
DefenseLawyer Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 01:55 PM
Response to Original message
94. I know! I know!
Let's scrap the whole thing, except for the apparatus that collects money through withholding (cause that is a slick way to collect a boatload of money), and let our friends on Wall Street invest that money for us! Do I win?
Printer Friendly | Permalink |  | Top
 
lovuian Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 02:01 PM
Response to Original message
95. I would get more people working
cut the Military budget give socialized medicine cut down healthcare costs
and have corporations such as GE pay taxes ...then we will get there

oh get out of Iraq and Afghanistan and Libya
Printer Friendly | Permalink |  | Top
 
eShirl Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 02:10 PM
Response to Original message
97. 1) suspend tax cuts/ tax cut extensions for the wealthy until the "IOUs" are repaid to SS in full
Edited on Tue Mar-29-11 02:11 PM by eShirl
2) LOCKBOX so they can't try to steal our money again

Printer Friendly | Permalink |  | Top
 
EnlightenedOne Donating Member (452 posts) Send PM | Profile | Ignore Tue Mar-29-11 04:01 PM
Response to Original message
103. Anyone Seen This?
Just found it last week.

Anticipating the strains that would be put on Social Security, lawmakers raised the payroll tax in the 1980's (a disproportionate amount of which is paid by the lower and middle classes) and created a Trust Fund into which surpluses would be placed and saved in order to keep the system solvent during the lean years of the baby boomer retirements. In order to sink Social Security, conservatives would need to plunder the surplus and break the bank of the trust fund. ...

"Of course Bush lied or flip-flopped, or whatever you want to call it. He began raiding the trust fund and the surpluses in his first months in office, and hasn't stopped since. According to the Historical Budget Data put out by the Congressional Office of Management and Budget in early 2004, to cover the cost of his tax cuts, Bush will have to spend the entire projected Social Security surplus of $2.4 trillion from 2005 through 2014. The lockbox will be completely looted, just as an avalanche of baby boomers are set to retire. While the Trust Fund is looted, and the baby boomers' retirement looms in the distance, the national budget shows little capacity to make up the difference, or reinforce the effort. This of course, was part of the plan.

"The Bush administration has succeeded in greatly diminishing the revenue stream through far reaching and, if they get their way, permanent tax cuts which many economists have described as making the deficit recovery proof because of the breaks given on the taxation of passive income. He accomplished this while encumbering the government with the enormous spending obligations required to fight the wars in Iraq and Afghanistan. There is a reason that no government in the history of the United States, or the world for that matter, has cut taxes while at war. The deficits become unmanageable, and the resources of the government scarce. But Bush didn't stop there. He also passed the staggeringly expensive prescription drug benefit, even though he had to conceal the true cost from Congress and threaten to fire Richard Foster, the Medicare actuary, if he revealed the real estimates. This was a two-fold success in that he further drove up the deficit, while at the same time making Medicare even more expensive and ultimately unwieldly, an argument that will be used in the future to justify its 'unfortunate' demise.

"Which takes us up to the present. We are on the verge of the baby boomer retirement rush which would have put a strain on Social Security and Medicare had the surpluses been left intact inside a 'lockbox.' Instead they have been plundered, and if Bush's tax cuts are made permanent, they will remain bankrupt in perpetuity. The budget is hamstrung with intransigent obligations that are exceeding the paltry revenue trickling in as a result of widespread tax cuts that, according to the non-partisan Congressional Budget Office, overwhelmingly favor the wealthiest Americans, with millionaires receiving $72 to every non-millionaires' $1. There is no room in the budget to bail out Social Security and Medicare, but a crisis is looming."

http://www.sourcewatch.org/index.php?title=Social_Security_Trust_Funds
Printer Friendly | Permalink |  | Top
 
spanone Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:11 PM
Response to Original message
105. please present facts to back your flawed premise
Printer Friendly | Permalink |  | Top
 
Rex Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:13 PM
Response to Original message
107. You mean theoretically IF it was going broke?
Otherwise I would say this is stupid flamebait.
Printer Friendly | Permalink |  | Top
 
Name removed Donating Member (0 posts) Send PM | Profile | Ignore Tue Mar-29-11 04:44 PM
Response to Original message
110. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
go west young man Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:45 PM
Response to Original message
111. Stop the stupid fucking war machine and channel all that money into our future.
We have to stop living in the stone age. It's time for America to evolve and grow up.
Printer Friendly | Permalink |  | Top
 
onethatcares Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:52 PM
Response to Original message
112. raise the income cap.
screw the benefit cutting, it's bad enough as is.

Printer Friendly | Permalink |  | Top
 
marmar Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 04:58 PM
Response to Original message
114. Massive unrec for starting with a bullshit premise.
nt

Printer Friendly | Permalink |  | Top
 
jannyk Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 05:00 PM
Response to Original message
116. Oh dear....Who's been watching too much Faux News? nt
Printer Friendly | Permalink |  | Top
 
titaniumsalute Donating Member (558 posts) Send PM | Profile | Ignore Tue Mar-29-11 05:01 PM
Response to Original message
119. You want more money in SS?
Right now when someone makes more than $106K no more of their money goes into SS. I say no matter what you nmake you pay into SS.
Printer Friendly | Permalink |  | Top
 
SoCalDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 05:22 PM
Response to Original message
120. wrong assumption..but since you asked
step one.. REPLACE all the boomer-money that's been stolen from it...for crazy shit like ..tax cuts for people who never needed them:)
Printer Friendly | Permalink |  | Top
 
TK421 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:19 PM
Response to Original message
127. how is it going broke? do you have something to show me?
otherwise, shut the hell up
Printer Friendly | Permalink |  | Top
 
Jazzgirl Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 07:55 PM
Response to Original message
128. Unrec and calling bull.shit.
Printer Friendly | Permalink |  | Top
 
L0oniX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-29-11 09:57 PM
Response to Original message
129. Late night stupid kick n/t
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Wed Apr 24th 2024, 06:13 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC