Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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~~
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.
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.)
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.
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.
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.
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%.
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
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.
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
