Solution to the problem financing Social Security and paying the National Debt.

[Jarhead]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

 

[RDD_1210]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

 

[OKTexas]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

Great idea, let's give a government that has been totally irresponsible with our money trillions more. Do more of the same and expect different results, get a freaking clue already.

 

[Penelope]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

How many actual transactions take place in a day? Do you know? Not billions.
Your premise is flawed because you refer to "billions of shares of stock" but then say $1.00 per transaction. Is that $1 per share of stock traded.
My guess is if it imposed on transactions alone, it would not even cover 1% of the interest on our debt per day.....but it will take money out of the hands of the consumer.

Great idea, Sparky.

Is there anything that doesn't' take money away from the consumer. If and when min. wage goes up, it gets trickled down to the consumer. That is what you call "trickle down economics" or they delete the job and get a machine.

 

[Penelope]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

When they take it out of your check if you like it or not.

 

[NYcarbineer]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

I am against FICA but was forced to pay into it for 35 years. Why would I not want to recoup what was taken from me against my will?

Give that argument up. It makes you look silly.

And his post wasn't?

 

[NYcarbineer]

Social Security will be fixed. Period...

...conservative pipe dreams of destroying it notwithstanding.

 

[Ernie S.]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

When you paid the Toyota dealer 30 grand for your Prius, were you not "entitled" to take it home?

I PAID for Social Security for nearly 50 years. You bet your ass I'm a hell of a lot more "entitled" to my check than you are to the cheese I pay for.

 

[Arizona Willie]

When has the federal government ever done anything like that?

L

========

When?

During the Vietnamese War ... we had an Income Tax Surcharge and when we were done with the war we did not have a multi-trillion dollar deficit because we paid for the war as we went.

THAT'S WHEN THE GOVERNMENT DID SOMETHING LIKE THAT.

It < has > been done and it < WORKED >.

 

[Arizona Willie]

And a 1 dollar tax would hardly be noticed

If that's so, why don't you pay it?

The U.S. Government accepts cash, checks and credit cards from private citizens who want to solve problems, such as yourself.

========
I used to play the markets all day long from the opening bell and I did quite well for an amateur. Made enough for the down payment on this house and all new furniture.

Got out in 2007 when I could see something was very very wrong with the way the markets were acting.

I often made 20 or 30 trades a day and a dollar a trade fee would not have bothered me in the slightest.

A $1 fee on each trade would not even be noticed by most traders. And it would bring in a billion dollars a day --- or more.

 

[Arizona Willie]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

How many actual transactions take place in a day? Do you know? Not billions.
Your premise is flawed because you refer to "billions of shares of stock" but then say $1.00 per transaction. Is that $1 per share of stock traded.
My guess is if it imposed on transactions alone, it would not even cover 1% of the interest on our debt per day.....but it will take money out of the hands of the consumer.

Great idea, Sparky.

========
Between the exchanges, there are literally, over a billion trades a day.
The $1 fee would be on each trade, not each share of stock.
It would hardly be noticed.
When I played the market I used a company called Interactive Brokers and their fee at that time was $1 / trade so it would have doubled my buy / sell expense but would make little difference when you trade hundreds / thousands of shares a time ... as many of the 1%'ers do.

E-trade, at that time, charged $20 / trade and it had a lot of customers and they were my starting company that I used for a year or two until I got my bearings and had some idea what I was doing.

$21 / trade would not stop anyone from making the trade ... they would barely notice.

Why would anyone object to taking a billion bucks a day from the wealthy while they played their games with the market?

It would hold the possibility of eliminating the income tax altogether after the National Debt was paid. Of course, that would be awhile. At a billion a day it would take a 1000 days for each trillion of debt so we're looking at 17,000 days to pay off the National Debt if the $1 tax brought in a billion a day.

HOW LONG DO YOU THINK IT WILL TAKE TO PAY IF WE don't DO THIS?

Remember, Republicans refuse to pay ANY tax to pay the National Debt.

 

[Arizona Willie]

Great idea, let's give a government that has been totally irresponsible with our money trillions more. Do more of the same and expect different results, get a freaking clue already.

========
If anyone needs a clue === IT'S YOU.

You have no knowledge of history at all.

During the Vietnamese War we had an Income tax surcharge and when the war was over most of the bills were paid and we did NOT HAVE a multi-trillion dollar debt.

As long as the legislation is written in such a manner as to prevent Congressthieves from " borrowing " the money to finance re-election pork this idea would work just fine.

It would bring so much money that it < might > be possible to end the Federal Income Tax after the Debt was paid down ... but that would take several years. But at least we would not have to worry about Social Security EVER AGAIN.

 

[Arizona Willie]

Is there anything that doesn't' take money away from the consumer. If and when min. wage goes up, it gets trickled down to the consumer. That is what you call "trickle down economics" or they delete the job and get a machine.

========
The $1 / trade fee ( tax ) would be on financial transactions ... how do you figure that takes money out of the hands of the consumer?

I hate to be rude --- but your comment was plain stupid.

 

[irosie91]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

When you paid the Toyota dealer 30 grand for your Prius, were you not "entitled" to take it home?

I PAID for Social Security for nearly 50 years. You bet your ass I'm a hell of a lot more "entitled" to my check than you are to the cheese I pay for.

does the federal government still give cheese to the needy?

 

[Arizona Willie]

does the federal government still give cheese to the needy?

========
I have no idea, perhaps you can tell us.

I wouldn't be surprised if they do.

 

[irosie91]

does the federal government still give cheese to the needy?

========
I have no idea, perhaps you can tell us.

I wouldn't be surprised if they do.

I have no idea about the cheese----but I do know that the left right dichotomy does not work-------its silly

 

[Papageorgio]

legalize rec weed federally.
That would be better than the OPs fascism.

========
Why is it " facism " to pay a $1 fee on a stock transaction involving thousands of dollars but perfectly okay for the broker to charge you $XXX ( big bucks ) for each transaction?

A $1 tax dedicated to National Debt and SS = facism

A $20 fee to the stock broker = just fucking fine

Already adding on more fees from the original idea.

 

[g5000]

Every day billions of stock transactions flow through the stock exchanges in the United States.

Nope.

Yesterday, there were about two and a half million trades on the NYSE.

On NASDAQ, there were a little less than eight million trades yesterday.

So between the two biggest exchanges, you're looking at just over 10 million trades a day.

 

[g5000]

But let's pretend there are a billion stock trades a day. Just for fun.

There are 252 trading days a year.

That would have been $252 billion a year you would be sucking out of the economy, Willie.

 

[NightFox]

When has the federal government ever done anything like that?

L

========

When?

During the Vietnamese War ... we had an Income Tax Surcharge and when we were done with the war we did not have a multi-trillion dollar deficit because we paid for the war as we went.

THAT'S WHEN THE GOVERNMENT DID SOMETHING LIKE THAT.

It < has > been done and it < WORKED >.

Not so quick there professor, the Vietnam War surtax was used to pay for an ongoing war (one of those wasteful things dreamed up by the miscreants in the Federal Government I was referring to) NOT for retiring debt and secondly the conservatives in the House demanded (and got) a 10% annual reduction in discretionary spending in order for it to pass (Imagine what today's conservatives would demand to even consider your proposal).

I'm afraid your proposal amounts to just another "give us more money" and we promise to spend it wisely this time, anybody that would buy that is a fool considering modern fiscal history in Washington. The only thing that's going to retire the national debt is a flat out default (sorry but we ain't paying you suckers back) or a back door default (i.e. the fed printing it out of existence), I for one am not going to willingly just give 'em more of MY money so they can blow it along the way to that eventuality.