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Old 03-23-2022, 02:30 AM
 
Location: Las Vegas & San Diego
6,909 posts, read 3,311,919 times
Reputation: 8618

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Quote:
Originally Posted by jetgraphics View Post
Currently, there are less than 2 taxpayers for every recipient of public entitlements.
When that drops to less than 1 taxpayer for every recipient, "something" will break.
Either a taxpayer revolt or a recipient riot.
Your data is really wrong - there are currently 2.7 workers for each recipient according to data from ssa.gov, projected to drop to 2.3 workers per recipient by 2035. The current projections shows it dropping to 2.1 workers per recipient in 2095, when a person born today would be 73. It never shows projections below 2 taxpayers per recipient over the next 70+ years, let alone below 1.
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Old 03-23-2022, 02:41 AM
 
Location: Las Vegas & San Diego
6,909 posts, read 3,311,919 times
Reputation: 8618
Quote:
Originally Posted by mojo101 View Post
Once I was watching Susie Orman show and she asked her assistant who makE $80k year then,how much cc debt did he have?
He said $80K.
It is not unusual to have 30-40K cc debt
Define "not unusual" - the average CC debt is about $6K ($6194 in 2019) - carrying $80K (or even $30-40K) in CC debt is very rare according to the data.
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Old 03-23-2022, 07:35 AM
 
24,521 posts, read 18,026,656 times
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Quote:
Originally Posted by mojo101 View Post
It is not unusual to have 30-40K cc debt
Actually, it is very unusual. The median household credit card debt is less than $3k. The average is about double that. Most debt in the US is secured debt like mortgages & car loans and student loans for younger people.
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Old 03-23-2022, 07:49 AM
 
24,521 posts, read 18,026,656 times
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Quote:
Originally Posted by ddeemo View Post
Your data is really wrong - there are currently 2.7 workers for each recipient according to data from ssa.gov, projected to drop to 2.3 workers per recipient by 2035. The current projections shows it dropping to 2.1 workers per recipient in 2095, when a person born today would be 73. It never shows projections below 2 taxpayers per recipient over the next 70+ years, let alone below 1.
It depends on how you define “recipient of public entitlements”. There are ~ 40 million people who receive food stamps. The benefit for most is less than $150/month. 1 in 6 receive Social Security benefits. About 20% of those aren’t retirees.
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Old 03-23-2022, 01:41 PM
 
Location: Las Vegas & San Diego
6,909 posts, read 3,311,919 times
Reputation: 8618
Quote:
Originally Posted by GeoffD View Post
It depends on how you define “recipient of public entitlements”. There are ~ 40 million people who receive food stamps. The benefit for most is less than $150/month. 1 in 6 receive Social Security benefits. About 20% of those aren’t retirees.
This is a discussion about Social Security, so the "recipient of public entitlements" that is being discussed is SS, that is not SNAP (Supplemental Nutrition Assistance Program - current name for food stamps). There is the TANF program that is related and part of SS but only about 1M families are on that.

But just to put it in perspective, there are over 144 Million taxpayers in the US so that means that number supporting those on SNAP (42M) is even higher at a little over 3.4 per recipient - many retirees are supporting those on SNAP through taxes.

There are 18% that receive SS below retirement age - but most are disability retired or dependents of those that are retired so technically they are mostly retirees. I was one of those way back when I was in college - but it was hardly anything. My dad was disability/medically retired in his 50s.

Last edited by ddeemo; 03-23-2022 at 01:58 PM..
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Old 03-24-2022, 01:38 PM
 
Location: Spain
12,722 posts, read 7,504,029 times
Reputation: 22628
Jetgraphics has repeated that nonsense before, last time he came up with 1.78

Quote:
Originally Posted by jetgraphics View Post
Socialist InSecurity
https://www.usdebtclock.org/
US Population : 332.4 million
US Income Taxpayers : 124.8 million
US Retired : 56.1 million
Medicare : 62.7 million
Medicaid : 83.7 million
Food stamp recipients : 40.8 million

https://www.ssa.gov/policy/docs/char...t_facts21.html
69.8 million people received benefits from programs administered by the Social Security Administration (SSA) in 2020.

124.8/69.8 = 1.78 taxpayers / recipient
It was pointed out to him that SSA themselves say there are currently 2.7 taxpayers per recipient, but apparently he'd make a great politician because he just waits awhile and spouts the same BS all over again without bothering to try to understand why his napkin math is wrong.

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Old 03-24-2022, 01:51 PM
 
37,467 posts, read 45,685,843 times
Reputation: 56932
Quote:
Originally Posted by lieqiang View Post
I think most people would be quite surprised to find out someone they know had that much CC debt, so it's probably unusual.
No *****. That is insane to have that much on a CC, unless you are wealthy enough to where you are routinely spend and pay off that entire balance each month. I don't know anyone like that personally.
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Old 03-24-2022, 02:09 PM
 
8,181 posts, read 2,756,304 times
Reputation: 6015
Quote:
Originally Posted by Lowexpectations View Post
Or an irrational individual who doesn’t understand what the program is for but is okay with that, wants it eliminated anyhow without a clue what impact that would cause. Your solution isn’t best or rational when you don’t even understand the subject


Right. Because the government did such a great job with social security that it went nearly bankrupt twice in its history and is projected to go bankrupt again in 10 years.

Give me a break. The best safety net against poverty is wealth. Help people build that. SS hinders that.
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Old 03-24-2022, 02:14 PM
 
8,181 posts, read 2,756,304 times
Reputation: 6015
Quote:
Originally Posted by lieqiang View Post
Jetgraphics has repeated that nonsense before, last time he came up with 1.78



It was pointed out to him that SSA themselves say there are currently 2.7 taxpayers per recipient, but apparently he'd make a great politician because he just waits awhile and spouts the same BS all over again without bothering to try to understand why his napkin math is wrong.
The government's projections on stuff like this area always optimistic.
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Old 03-24-2022, 02:31 PM
 
26,159 posts, read 21,406,514 times
Reputation: 22751
Quote:
Originally Posted by albert648 View Post


Right. Because the government did such a great job with social security that it went nearly bankrupt twice in its history and is projected to go bankrupt again in 10 years.

Give me a break. The best safety net against poverty is wealth. Help people build that. SS hinders that.
Again the person who is clueless about what the program is, what it’s for or does is supposed to have all the answers to fix?

The greatest social safety net isn’t wealth, that’s entirely false as wealth gets pooled among few or wasted and then? That’s right the social safety net comes in a modern society
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