GOP introduces bill to cut Social Security

[flacaltenn]

http://www.cbo.gov/ftpdocs/120xx/doc12039/01-26_FY2011Outlook.pdf

When a trust fund receives payroll taxes or other income
that is not needed immediately to pay benefits or cover
other expenses, the Treasury credits the fund and uses the
excess cash to reduce the amount of new federal borrowing
that is needed to finance the governmentwide deficit.
That is, if other tax and spending policies are unchanged,
the government borrows less from the public than it
would in the absence of those excess funds. The reverse is
the case when revenues for a trust fund program fall short
of expenses. The balances of trust funds at a given point
in time are not a measure of resources available to pay
future obligations for the respective programs; those
resources will need to come from federal revenues or
additional borrowing in the years those obligations are
due.


Tax the Rich to Repay Looted Social Security Money | Dissident Voice


In 1990, Reid, along with a few other senators, was trying to protect the future of Social Security by telling the truth about it. In a speech on the Senate floor, on October 9, 1990, Senator Reid made the following statement:

The discussion is are we as a country violating a trust by spending Social Security trust fund money’s for some purpose other than for which they were intended. The obvious answer is yes…On that chart in emblazoned red letters is what has been taking place here, embezzlement. During the period of growth we have had during the past 10 years, the growth has been from two sources. One, a large credit card with no limits on it, and, two, we have been stealing money from the Social Security recipients of this country.

Senator Reid was right in denouncing the raiding of the trust fund in 1990, but he didn’t follow through with his battle. Once he got into a leadership position, he abandoned his fight to end the looting and just ignored the illegal practice after that.

 

[Lakhota]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

 

[bripat9643]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

 

[Penelope]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not includes massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

Obama is gone in 42 days...

Too bad, had he been eligible he would have won a third term.

We stopped dictators centuries ago.....

Wait for Jan. You just voted one in.

 

[owebo]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not includes massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

Obama is gone in 42 days...

Too bad, had he been eligible he would have won a third term.

We stopped dictators centuries ago.....

Wait for Jan. You just voted one in.

Awww....your Hillary lost....poor snowflake....

 

[Penelope]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

The Real Owner of the U.S. Debt Will Surprise You

 

[owebo]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

The Real Owner of the U.S. Debt Will Surprise You

Not really ....

 

[frigidweirdo]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

The Real Owner of the U.S. Debt Will Surprise You

In other words, Trump doesn't know what he's talking about, and would hurt the US by defaulting.

 

[owebo]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

The Real Owner of the U.S. Debt Will Surprise You

In other words, Trump doesn't know what he's talking about, and would hurt the US by defaulting.

Well, your Obama got our credit rating downgraded,...

 

[Penelope]

I KNOW I'm gonna be asked for a link. Hate to provide it because this is so serious -- EVERY AMERICAN should ALREADY KNOW this..

But here it is --- from SSA themselves (turn to Pg12). And I have matching statements from the CBO, and several IG offices.

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Social Security’s annual surpluses
of tax income over expenditures are expected to fall sharply this
year and to stay about constant in 2010 because of the economic recession,
and to rise only briefly before declining and turning to cash flow
deficits beginning in 2016 that grow as the baby-boom generation retires.

[[FCT NOTE: When this was written, no one knew that OBAMA was gonna rob INCOME from the fund in 2009 for his "tax breaks to the working class" -- thus making this transition to insolvency occur in 2010 fiscal year instead of 2016 projection]]

The combined difference grows each year, so that by 2016, net revenue
flows from the general fund would total $369 billion (1.8 percent of
GDP). The positive amounts that begin in 2016 for OASDI, and started in
2008 for HI, initially represent payments the Treasury must make to the
trust funds when assets are depleted to help pay benefits in years prior to
exhaustion of the funds. Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.

You were ROBBED twice. Now how silly does it sound when Leftists and fools who believe in Trust Funds say they "don't want SS touched". Really pisses me off. It's been TOUCHED alright. Too many times.

Wall street tells you to "READ the prospectus carefully". The Feds make them do that. But the thieves in Washington D.C. bury their larceny in the back pages of the MOST IMPORTANT PROSPECTUS that most American have for retirement. They should in irons. In prison. End of story..

I agree robbing from both sides, but Bush made some heavy duty tax cuts and put us into a war costing ? amounts so far and left us in a depression. Most of the stealing of the fund was to bail out the banks and auto companies, and here is a piece on the Obama tax cuts to stimulate the economy (he did it the smart way, most were unaware of it)

President Obama won significant tax cuts, but voters mostly unaware of benefits - The Boston Globe ,

I mean a Democratic Pres giving tax cuts and letting Bush's cuts stay in place till 2012 and he is one stupid man, and raked over the coals by the Pubs, because only they can cut taxes and get away with it.

Why is Trump going to cut the top tax bracket from 39.6% to 25%? Is that his way of saying the SS fund is no more, where is that money going to come from, those Pubs are so worried about the debt, but want to give themselves a tax cut. Cutting corp taxes is one thing, most pay under 15% anyway.

Money does not trickle down from large corps and the rich, they just pocket it, more money in the hands of middle income is what trickles down and around and floats slowly to the top. The greedy monsters at the top want it more quickly and
that savings they get from their nice tax cut will go right into their pocketbooks.

Now the wealthy do not want to pay FICA Tax, too bad, they want to force you to put that money in the market, so Hedge funds can have a heyday. They will force you, since most will not do this on their own, since most will have to live paycheck to paycheck, so instead of FICA you will be forced to fund 401Ks, and pray to God that money is not stolen. So either the Politicians rob from you or Wall Street . I guess I'd rather it be the Politicians. When we no longer get Medicare and SS, then the gov is broke and the politicians can all go home. If the citizens suffer so do the Politicians.

When Trump gives his tax breaks to the top bracket, us middle income tax breaks will be null and void. That is giving 14.6% tax cut to the top earners, so we should all get a 14.6 tax cut.

 

[owebo]

I KNOW I'm gonna be asked for a link. Hate to provide it because this is so serious -- EVERY AMERICAN should ALREADY KNOW this..

But here it is --- from SSA themselves (turn to Pg12). And I have matching statements from the CBO, and several IG offices.

http://www.socialsecurity.gov/history/pdf/tr09summary.pdf

Social Security’s annual surpluses
of tax income over expenditures are expected to fall sharply this
year and to stay about constant in 2010 because of the economic recession,
and to rise only briefly before declining and turning to cash flow
deficits beginning in 2016 that grow as the baby-boom generation retires.

[[FCT NOTE: When this was written, no one knew that OBAMA was gonna rob INCOME from the fund in 2009 for his "tax breaks to the working class" -- thus making this transition to insolvency occur in 2010 fiscal year instead of 2016 projection]]

The combined difference grows each year, so that by 2016, net revenue
flows from the general fund would total $369 billion (1.8 percent of
GDP). The positive amounts that begin in 2016 for OASDI, and started in
2008 for HI, initially represent payments the Treasury must make to the
trust funds when assets are depleted to help pay benefits in years prior to
exhaustion of the funds. Neither the redemption of trust fund bonds, nor
interest paid on those bonds, provides any new net income to the Treasury, which must finance redemptions and interest payments through some combination of increased taxation, reductions in other government spending, or additional borrowing from the public.

You were ROBBED twice. Now how silly does it sound when Leftists and fools who believe in Trust Funds say they "don't want SS touched". Really pisses me off. It's been TOUCHED alright. Too many times.

Wall street tells you to "READ the prospectus carefully". The Feds make them do that. But the thieves in Washington D.C. bury their larceny in the back pages of the MOST IMPORTANT PROSPECTUS that most American have for retirement. They should in irons. In prison. End of story..

I agree robbing from both sides, but Bush made some heavy duty tax cuts and put us into a war costing ? amounts so far and left us in a depression. Most of the stealing of the fund was to bail out the banks and auto companies, and here is a piece on the Obama tax cuts to stimulate the economy (he did it the smart way, most were unaware of it)

President Obama won significant tax cuts, but voters mostly unaware of benefits - The Boston Globe ,

I mean a Democratic Pres giving tax cuts and letting Bush's cuts stay in place till 2012 and he is one stupid man, and raked over the coals by the Pubs, because only they can cut taxes and get away with it.

Why is Trump going to cut the top tax bracket from 39.6% to 25%? Is that his way of saying the SS fund is no more, where is that money going to come from, those Pubs are so worried about the debt, but want to give themselves a tax cut. Cutting corp taxes is one thing, most pay under 15% anyway.

Money does not trickle down from large corps and the rich, they just pocket it, more money in the hands of middle income is what trickles down and around and floats slowly to the top. The greedy monsters at the top want it more quickly and
that savings they get from their nice tax cut will go right into their pocketbooks.

Now the wealthy do not want to pay FICA Tax, too bad, they want to force you to put that money in the market, so Hedge funds can have a heyday. They will force you, but most will not do this, since most will have to live paycheck to paycheck, so instead of FICA you will be forced to fund 401Ks, and pray to God that money is not stolen. So either the Politicians rob from you or Wall Street. I guess I'd rather it be the Politicians.

When Trump gives his tax breaks to the top bracket, us middle income tax breaks will be null and void. That is giving 14.6% tax cut to the top earners, so we should all get a 14.6 tax cut.

We all love the Obamacare tax cut....

 

[Maryland Patriot]

We need adult leadership!

Well you don't have it come Jan.

We dont really know what we get in January, but I can pretty much tell you that if we are looking for leadership that has the best chance of not continuing the idiot politics we have seen in dc for the last 24 years minimum, Donald Trump was the only option, all the others that ran would have continued on the destructive path that this country has taken.
We need jobs for people, we need respect for each other and we need a government that will work for the people as one, not this bullshit of putting race against race, economic standing against economic standing, religions against each other. It seems as though everything our government does anymore is nothing more than another wedge being driven into the hearts of the American people.
Trump may very well turn out to be a mistake, but as far as I can tell, and my opinion only, the other options we had would have without question continued on the destructive path. It wont take but a month or so to figure out where he stands.

 

[Iceweasel]

I've decided once Trump takes office not to put any more money into Social Security, at least not until I get back the $300,000+ that was put in for me by myself and my employers.

What the hell does that mean? You don't a choice besides not working. Your money paid in is long gone, spent by dishonest politicians and you blame Trump?

 

[Mac1958]

The Third Rail, and it doesn't have to happen.

If the GOP does this, good luck, you asked for it.
.

 

[bripat9643]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not includes massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

Obama is gone in 42 days...

Too bad, had he been eligible he would have won a third term.

We stopped dictators centuries ago.....

Wait for Jan. You just voted one in.

Wrong. We just kicked one out.

 

[bripat9643]

Social Security is the largest holder of U.S. debt - even larger than China. The government pays interest on the money it borrowed - just like to China and others who hold U.S. debt.

You mean it takes money out of one pocket and puts it in another. You can't pay interest to yourself, moron. Just try it. Loan yourself $1000, and then pay yourself 20% interest on it. See how much you have after a year.

The Real Owner of the U.S. Debt Will Surprise You

The federal government owns the Social Security trust fund, dumbass.

 

[kaz]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not includes massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

They didn't introduce a bill, liar. They proposed a plan, but no bill has been introduced. You don't know the difference, do you? And Social Security will drive the country into bankruptcy, stop being a partisan hack and care for your country once

JFK: Ask not what your country can do for you, ask what you can do for your country

WryCatcher: Gimme, baby ...

 

[my2¢]

I've decided once Trump takes office not to put any more money into Social Security, at least not until I get back the $300,000+ that was put in for me by myself and my employers.

What the hell does that mean? You don't a choice besides not working. Your money paid in is long gone, spent by dishonest politicians and you blame Trump?

That's right, I've decided that next month I'll join the "unemployed not looking for work" category so popular in discussions here on the unemployment rate once Trump becomes part of the problem so I won't have to blame him.

 

[Wry Catcher]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not included massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

They didn't introduce a bill, liar. They proposed a plan, but no bill has been introduced. You don't know the difference, do you? And Social Security will drive the country into bankruptcy, stop being a partisan hack and care for your country once

JFK: Ask not what your country can do for you, ask what you can do for your country

WryCatcher: Gimme, baby ...

Your anger and bias prevents your ability to comprehend a simple post. That's on you. Your first sentence [They didn't introduce a bill, liar.] is both an ad hominem and not true.

Have someone you trust read my post s l o w l y and maybe you will understand no where in my post did I write that a bill had been submitted to Ryan or McConnell.

Grow up Kaz, your little game is boring and makes you out to be a fool (which I don't mean to suggest you aren't one).

 

[NLT]

https://www.yahoo.com/finance/news/...-massively-cut-social-security-222200857.html

If Ryan puts this up for a vote, and McConnell too, and they do not included massive cuts to the salary and benefits of members of Congress, members of the Supreme Court and to all elected and appointed members of the executive, from US Marshalls, US Attorney's and Federal Judges, we will have seen a Reactionary Revolution and the death of the American Dream.

The power elite will have created a coup, making the United States into the first nation to go from the most powerful and free nation in the world, to a third world nation governed by Plutocrats and Authoritarians who will reside in gated communities and pass draconian laws slowly eroding the Bill of Rights.

Michigan is already passing laws to make voting more difficult, a certain attempt to protect the GOP in future elections.

Wake up people, it can and will happen here.

They didn't introduce a bill, liar. They proposed a plan, but no bill has been introduced. You don't know the difference, do you? And Social Security will drive the country into bankruptcy, stop being a partisan hack and care for your country once

JFK: Ask not what your country can do for you, ask what you can do for your country

WryCatcher: Gimme, baby ...

Your anger and bias prevents your ability to comprehend a simple post. That's on you. Your first sentence [They didn't introduce a bill, liar.] is both an ad hominem and not true.

Have someone you trust read my post s l o w l y and maybe you will understand no where in my post did I write that a bill had been submitted to Ryan or McConnell.

Grow up Kaz, your little game is boring and makes you out to be a fool (which I don't mean to suggest you aren't one).