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Old 04-14-2015, 08:18 PM
 
Location: Canada
5,881 posts, read 2,387,422 times
Reputation: 5341

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Im sorry couldn't demonstrate with link..took me a bit to upload and find link to explain how Federal Congress has been using SS as a piggy bank or collaterals to do other things...Because SS was in a trust fund..and of course we all know what happened in fall of 2008..Market fell thru floor..investments disappeared..

This link is a must read to see just how Greenspan and Congress discussed this utilizing that asset...
http://whatreallyhappened.com/WRHART...#axzz3XL7TQWZ4
Anyway this graph gives the history of Piggy bank usage of SS Trust Fund~~



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Old 04-14-2015, 08:26 PM
 
Location: Great State of Texas
86,093 posts, read 72,575,594 times
Reputation: 27566
Congress was borrowing the surplus for years though and put non negotiable IOUs (Treasuries) into the Fund.
Once the surplus dried up is when the cries of "crisis" started.

There's $2.6 TRILLION in that fund but it's not liquid. Congress has to pay back all that money they "borrowed" only there is no extra money to pay it back.
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Old 04-14-2015, 09:47 PM
 
Location: Idaho
4,639 posts, read 4,482,074 times
Reputation: 9096
Quote:
Originally Posted by HappyTexan View Post
Congress was borrowing the surplus for years though and put non negotiable IOUs (Treasuries) into the Fund.
Once the surplus dried up is when the cries of "crisis" started.

There's $2.6 TRILLION in that fund but it's not liquid. Congress has to pay back all that money they "borrowed" only there is no extra money to pay it back.
I think that history will judge Ronald Reagan as one of the greatest presidents this country has ever had, but the most short-sighted, boneheaded move he made was folding the Social Security trust fund into the general budget. He needed money to win the Cold War by bankrupting the Soviets. Well, he did that, but the result is a bankrupt SS fund. His move was supposed to "fix Social Security for good". Hah! He wasn't stupid, but we sure were to accept it.

(p.s. Other than this dumb move, I supported his presidency and voted for him twice. Actually more than twice because he was our governor for a couple of terms.)
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Old 04-14-2015, 10:37 PM
 
28,279 posts, read 39,940,610 times
Reputation: 36794
Quote:
Originally Posted by BayAreaHillbilly View Post
There is no lock box, what a current worker pays funds current retirees. Get over it people, it is welfare. No more lip stick on this pig. Therefore, if it is welfare, then yes to means testing and yes to removing the income cap on SSI paycheck deductions.
And we paid for those before us. It's amazing how people can miss the obvious in their zeal.
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Old 04-14-2015, 10:47 PM
 
Location: it depends
6,074 posts, read 5,340,136 times
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Means testing to such low levels of income serves the purpose of warning people that it makes no sense to save and invest and try to improve your position, because your worthless twin will end up getting benefits from the government that you got screwed out of--and he will live a better life from start to finish.

Reward laziness and punish thrift? There is a recipe for disaster.
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Old 04-14-2015, 11:38 PM
 
2,296 posts, read 1,565,142 times
Reputation: 2737
Quote:
Originally Posted by marcopolo View Post
Means testing to such low levels of income serves the purpose of warning people that it makes no sense to save and invest and try to improve your position, because your worthless twin will end up getting benefits from the government that you got screwed out of--and he will live a better life from start to finish.

Reward laziness and punish thrift? There is a recipe for disaster.
Not to mention ruin the economy for everyone, including those who need it.
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Old 04-14-2015, 11:50 PM
 
8,870 posts, read 5,149,988 times
Reputation: 10159
Quote:
Originally Posted by marcopolo View Post
Means testing to such low levels of income serves the purpose of warning people that it makes no sense to save and invest and try to improve your position, because your worthless twin will end up getting benefits from the government that you got screwed out of--and he will live a better life from start to finish.

Reward laziness and punish thrift? There is a recipe for disaster.

I agree. However, I do think raising the cap substantially makes a great deal of sense. If it is eliminated, I think the rate above a certain amount should be lower than 6.2%.
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Old 04-15-2015, 12:26 AM
 
1,825 posts, read 1,418,109 times
Reputation: 1375
My social security & disability combined gives me about $25 a day, which works out to about $1 a day per disability. If you are unaware of what illegal drugs cost, cannabis ("marijuana") about $400 an ounce. Guv Christie wants to make cannabis completely illegal in all states, which goes against the majority of Republicans, too. He gave that speech at a treatment center, so maybe he got paid. Cannabis can save lives, especially cannabis oil, which costs about $3,000 a month, but not available where the plant is illegal. Putting everyone in a treatment center that's used cannabis would cost $2 trillion per month.



Quote:
Originally Posted by augiedogie View Post
Its a reasonable proposal. Other changes will have to happen in SS, so its time to get started. But I wish they would first tighten up the requirements for people to get SS disability. Far too many lazy, fat, alcoholics and drug addicts are getting benefits, when they could and should be working. If my handicapped son can do it, and people in wheelchairs, then others can too.
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Old 04-15-2015, 01:44 AM
 
2,106 posts, read 2,161,890 times
Reputation: 1999
this guy has no chance of winning anyway, lets be real, in my opinion.
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Old 04-15-2015, 03:28 AM
 
71,804 posts, read 71,896,917 times
Reputation: 49359
what a moron.... there is little to be saved because there are so few "rich people " compared to those earning under 80k a year.

the small amount of wealthier folks cut off from ss would be like peeing in the ocean compared to the sheer numbers of folks still collecting .

it would turn ss in to welfare and do little to close the budget gap.

just a stupid thoughtless idea.

but as i say democrates are morons with no ideas and republicans are morons with bad ideas. this is why i spend zero time thinking about or discussing politics.
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