GOP wants to screw US over Social Security

[DudleySmith]

IT HAS BEEN RAISED.

They used to claim there weren't enough people paying in; that silly lie went out a couple of decades ago and we now have almost double the population. They can't admit off-shoring has destroyed incomes as well as created a lot of shit wage part time jobs, so they make up imaginary deficits, never mind it wasn't SS going broke but their corporate welfare giveaways and subsidies for off-shoring gutting the economy in favor of financial shenanigans and Ponzi schemes. Chain stores rely on slave labor in Red China and elsewhere to stock their shelves, not American companies, and they run a lot of small and mid-sized businesses in entire industries into the ground. So, now they have to keep blaming something else for the failure of their ideological nonsense and rape of the tax base.

 

[Markle]

They used to claim there weren't enough people paying in; that silly lie went out a couple of decades ago and we now have almost double the population. They can't admit off-shoring has destroyed incomes as well as created a lot of shit wage part time jobs, so they make up imaginary deficits, never mind it wasn't SS going broke but their corporate welfare giveaways and subsidies for off-shoring gutting the economy in favor of financial shenanigans and Ponzi schemes. Chain stores rely on slave labor in Red China and elsewhere to stock their shelves, not American companies, and they run a lot of small and mid-sized businesses in entire industries into the ground. So, now they have to keep blaming something else for the failure of their ideological nonsense and rape of the tax base.

If you believe that, then you are a fool.

The Social Security program matured in the 1960s, when Americans were consistently having fewer children, living longer, and earning wages at a slower rate than the rate of growth in the number of retirees. As these trends have continued, today there are just 2.9 workers per retiree—and this amount is expected to drop to two workers per retiree by 2030.

How Many Workers Support One Social Security Retiree?

With the Social Security Trust Fund exhausting faster than expected, another obstacle to the sustainability of the program is rearing its head: Social Security benefits rest on fewer and fewer taxpayers. This week's chart by Mercatus senior research fellow Veronique de Rugy uses data from the...

www.mercatus.org

 

[struth]

How do you propose increasing our tax rate to Sweden's level?

I don’t. I was talking about reforming SS, like they did

 

[Markle]

I don’t. I was talking about reforming SS, like they did

How did they do it and where does the money come from?

Don't keep us in suspense when you have the solution.

 

[struth]

How did they do it and where does the money come from?

Don't keep us in suspense when you have the solution.

It’s no secret. Look it up

 

[Marener]

Raising the retirement age by two years could save SS from going bankrupt

Great. Do it right now then. Immediately raise retirement age to 69.

 

[para bellum]

How did they do it and where does the money come from?

Don't keep us in suspense when you have the solution.

Reagan did it in 1986 with Tip O'Neill. The FICA rate went up, and full retirement age went from 65 to 67 (gradually).

(Btw, O'Neill promised 1:1 spending cuts to offset the tax hike, but the dems reneged on that promise.)

That was the last time SS was fiddled with. They were looking ahead to the baby boomer generation retiring, and could see there would be trouble.

At the time, it put the trust funds into a 75-year actuarial balance. But a lot of additional benefits (and beneficiaries) have been added, so the reality is only ~45 years will pass and the surplus from the Reagan era reforms will be consumed.

It went underwater in 2011- that's when it started paying out more than it was taking in.

Lifespans are increasing and more people are working past 65 these days, and doing another gradual increase in the retirement age is going to be needed. Increasing the FICA cap is probably another inevitable step to put it back into balance.

 

[struth]

Great. Do it right now then. Immediately raise retirement age to 69.

Xiden and the dems said they won’t

 

[Marener]

Xiden and the dems said they won’t

Neither will Republicans.

 

[struth]

Neither will Republicans.

Actually some republicans do. There is another entire thread started by a dembot on how the gop wants to destroy SS because of it

 

[Marener]

Actually some republicans do. There is another entire thread started by a dembot on how the gop wants to destroy SS because of it

No Republican would immediately raise the retirement age. They always want to do it 10 years from now because they don’t want to piss off boomers.

Instead they’ll make people like me pay their extra benefits and get screwed later.

 

[struth]

No Republican would immediately raise the retirement age. They always want to do it 10 years from now because they don’t want to piss off boomers.

Instead they’ll make people like me pay their extra benefits and get screwed later.

Sorry actually this thread is about a dembot saying the gop wants to screw over SS by doing it

Oh and newsflash, SS is by design and is about working people paying for the benefits of others and getting screwed later

All ponzu schemes are

 

[Marener]

Sorry actually this thread is about a dembot saying the gop wants to screw over SS by doing it

Oh and newsflash, SS is by design and is about working people paying for the benefits of others and getting screwed later

All ponzu schemes are

Boomers aren’t getting screwed. They get to retire at 67 with full benefits.

But they’ll screw the rest of us. That’s how boomers roll.

 

[Jarlaxle]

Donald Trump is a staunch supporter of Social Security and Medicare.

Yes, but despite that, I'm voting for him.

You mean besides the ultra conservatives in the GOP who have been trying to do that for decades

Unfortunately, that's a lie.

SOCIAL SECURITY AND MEDICARE are two of the greatest programs ever created. There is no reason to lessen them.

That's weapon-grade stupid.

They were never NOT private.

And 401s killed the pension system

No, math killed the pension system.

Just what the country needs: a bunch of old farts in the office or worse, on the construction site.

By all means, off yourself.

 

[whitehall]

Learn some freaking history. Democrat administrations screwed us over Social Security when they started stealing from it from day one. LBJ made it official when he issued an E.O. that put FICA deductions in the general fund. There is no locked box and never has been. You almost have to wonder if Biden's plan is to bankrupt Social Security permanently by offering benefits to a million illegal aliens.

 

[initforme]

Great. Do it right now then. Immediately raise retirement age to 69.

We don't need people working longer. That kills an economy.

 

[80zephyr]

Privatizing anything is a way to kill it

Are we killing IRA's and 401K's?

 

[Marener]

We don't need people working longer. That kills an economy.

Nonsense. More people, more production. More economic output.

 

[Markle]

It’s no secret. Look it up

So, you've got...

 

[struth]

So, you've got...

No, they actually have a robust SS system in Sweden