Congress has proposed Bills to save Social Security, so why isn't it happening?

[kyzr]

There are several proposed Bills on this link below, some actually work.

Proposals to Change Social Security

Proposals to Change Social Security or Supplemental Security Income

www.ssa.gov

1. Stabenow/Collins proposed changes make things worse, and Brown/Cassidy has no effect.

2. Whitehouse/Boyle fixes SS permanently, by increasing the SS tax 5%.

3. Angie Craig's proposed changes adds 20-years to solvency, then goes insolvent.

4. John Larson's proposed changes extend SS 40-years, which sounds like a better plan, a lot can happen in the coming 40-years.

Social Security needs to be kept solvent, it is a mandatory government retirement plan. The question is, how best to keep it solvent.

 

[MarcATL]

You're a big proponent of social security, aren't ya OP?

 

[Mr Natural]

Eliminate the earnings cap.

Problem solved.

 

[kyzr]

You're a big proponent of social security, aren't ya OP?

Yes. We paid into the SS & Medicare system our entire working lives, unlike the Welfare and Medicaid recipients.

 

[Toddsterpatriot]

There are several proposed Bills on this link below, some actually work.

Proposals to Change Social Security

Proposals to Change Social Security or Supplemental Security Income

www.ssa.gov

1. Stabenow/Collins proposed changes make things worse, and Brown/Cassidy has no effect.

2. Whitehouse/Boyle fixes SS permanently, by increasing the SS tax 5%.

3. Angie Craig's proposed changes adds 20-years to solvency, then goes insolvent.

4. John Larson's proposed changes extend SS 40-years, which sounds like a better plan, a lot can happen in the coming 40-years.

Social Security needs to be kept solvent, it is a mandatory government retirement plan. The question is, how best to keep it solvent.

2. Whitehouse/Boyle fixes SS permanently, by increasing the SS tax 5%.

Keeping the benefits unchanged?

 

[Toddsterpatriot]

Eliminate the earnings cap.

Problem solved.

If you put twice as much in, do you get twice the benefit?

 

[Blaster]

Democrats and some Republicans want to get rid of social security.

 

[kyzr]

2. Whitehouse/Boyle fixes SS permanently, by increasing the SS tax 5%.

Keeping the benefits unchanged?

It looks that way. But I know Whitehouse is a radical socialist. So he probably has some commie give-aways in there.

 

[kyzr]

Democrats and some Republicans want to get rid of social security.

So what do old people live on?
Most companies don't have retirement plans, or 401Ks.

Tell me who they are so we can vote them out.

 

[leftwinger]

Eliminate the earnings cap.

Problem solved.

Not so fast commee stooge. If you do that do you not create the problem of massive paybacks to those who now pay in Millions annually? Say......$40million athlete for example. At age 67 they would collect maybe $25K per month? as an example. you knee-jerk commee stooges are all alike.

Or what you are saying is add a new tax on the high income earners and dedicate it to SS funding (but they only get payback at the max levels of today?). Is that what you are saying?

 

[Blaster]

Trump vows to save social security and medicare.

 

[WorldWatcher]

Trump vows to save social security and medicare.

That will be in 3 weeks.

In 2 weeks he is releasing his health care plan that will cover everyone, for less money and with even better care.

WW

 

[kyzr]

That will be in 3 weeks.

In 2 weeks he is releasing his health care plan that will cover everyone, for less money and with even better care.

WW

So why isn't the senate passing a "fix" for SS & Medicare?
The House could pass their version, and actually do something in committee.

 

[Mr Natural]

Trump vows to save social security and medicare.

Trump says a lot of things.

 

[Mr Natural]

Not so fast commee stooge. If you do that do you not create the problem of massive paybacks to those who now pay in Millions annually? Say......$40million athlete for example. At age 67 they would collect maybe $25K per month? as an example. you knee-jerk commee stooges are all alike.

Or what you are saying is add a new tax on the high income earners and dedicate it to SS funding (but they only get payback at the max levels of today?). Is that what you are saying?

Payouts would be capped.

Asshole!

 

[Dragonlady]

Yes. We paid into the SS & Medicare system our entire working lives, unlike the Welfare and Medicaid recipients.

But Social Security is the VERY DEFINITION of "socialism". As are public schools, the Post Office, and public libraries, and publically owned hospitals.

 

[kyzr]

But Social Security is the VERY DEFINITION of "socialism". As are public schools, the Post Office, and public libraries, and publically owned hospitals.

SS is a retirement plan.

 

[jwoodie]

Not so fast commee stooge. If you do that do you not create the problem of massive paybacks to those who now pay in Millions annually? Say......$40million athlete for example. At age 67 they would collect maybe $25K per month? as an example. you knee-jerk commee stooges are all alike.

Or what you are saying is add a new tax on the high income earners and dedicate it to SS funding (but they only get payback at the max levels of today?). Is that what you are saying?

Eliminating the earnings cap would not add a new tax, it would remove a huge tax loophole for high income earners. The current system already overtaxes middle income earners to pay higher benefit rates to low (or no) income earners. As a result, high income earners are partially exempted from paying for these subsidies.

If the earnings cap was eliminated, a person would have to earn $35 million over 35 years in order to receive $25,000 per month even at current benefit rates. (They would almost certainly be reduced for this income level.) At current SS tax rates, this would mean that approximately $75,000 in additional taxes would have been paid each year in return for a compounded 25 year annuity rate of return of about two percent. If this same amount of money had been invested at 6.5% APR, the dividend would be about $60,000 per month for 25 years (or $50,000 per month in perpetuity). Which would you pick?

 

[leftwinger]

Payouts would be capped.

Asshole!

If payouts are "capped" then all you are doing is adding a TAX onto the rich. They get nothing out of it.

 

[WorldWatcher]

SS is a retirement plan.

SS is * * part * * of a retirement plan.

If someone expects to retire on SS, they are screwed.

WW