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Old 11-21-2013, 11:27 AM
 
Location: Great State of Texas
86,052 posts, read 84,758,776 times
Reputation: 27720

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Quote:
Originally Posted by le roi View Post
social security doesn't work like a savings account.



it would improve the funding for social security, which as far as i'm concerned is the goal.
You're right it doesn't but your payout amount is based on how much you earned FICA-wise.
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Old 11-21-2013, 11:30 AM
 
22,768 posts, read 30,839,066 times
Reputation: 14748
Quote:
Originally Posted by HappyTexan View Post
You're right it doesn't but your payout amount is based on how much you earned FICA-wise.
and when you eliminate the payroll tax cap, everyone in the cohort that is being added will be paying more into the system than they will take out.
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Old 11-21-2013, 11:33 AM
 
20,184 posts, read 23,936,288 times
Reputation: 9284
Quote:
Originally Posted by le roi View Post
and when you eliminate the payroll tax cap, everyone in the cohort that is being added will be paying more into the system than they will take out.
What you are trying to do is redistribute wealth to those who didn't earn it... sorry, but that isn't what Social Security is for...
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Old 11-21-2013, 11:38 AM
 
22,768 posts, read 30,839,066 times
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Quote:
Originally Posted by evilnewbie View Post
What you are trying to do is redistribute wealth to those who didn't earn it... sorry, but that isn't what Social Security is for...
that's exactly what social security is for. medicare, too.
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Old 11-21-2013, 11:39 AM
 
20,184 posts, read 23,936,288 times
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Quote:
Originally Posted by le roi View Post
that's exactly what social security is for. medicare, too.
No it is not...
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Old 11-21-2013, 11:46 AM
 
22,768 posts, read 30,839,066 times
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Quote:
Originally Posted by evilnewbie View Post
No it is not...
Ida May Fuller - Wikipedia, the free encyclopedia

Ida May Fuller was the first American to receive a monthly benefit Social Security check. She received the check, amounting to $22.54, on January 31, 1940.

By the time of her death, Fuller had collected $22,888.92 from Social Security monthly benefits, compared to her contributions of $24.75 to the system.

like i said ... redistribution of wealth has been central to the social security system since its inception.
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Old 11-21-2013, 11:47 AM
 
Location: NJ
23,737 posts, read 17,407,268 times
Reputation: 17800
Another matematically challenged liberal with no imagination and out of ideas.
EW and you, perfect together..... leave the rest of us alone.
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Old 11-21-2013, 11:52 AM
 
Location: Great State of Texas
86,052 posts, read 84,758,776 times
Reputation: 27720
Quote:
Originally Posted by le roi View Post
and when you eliminate the payroll tax cap, everyone in the cohort that is being added will be paying more into the system than they will take out.
That's already happening. You pay more into SS then you will ever get back.

Giving the government more money which they will spend on other things will not fix SS.
Has Congress paid back all the surpluses they borrowed over the past 30 years ?
No so SS had to take out a loan against the IOUs they have (non negotiable Treasuries).
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Old 11-21-2013, 03:11 PM
 
26,724 posts, read 15,282,037 times
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Quote:
Originally Posted by le roi View Post



probably by raising the cap on the payroll tax.
Raising the CAP to infinity would not fix the current insolvency of Social Security, so if that is the case then this is a total gimmick that she will will raise benefits.
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Old 11-21-2013, 03:15 PM
 
Location: NE Ohio
30,419 posts, read 20,389,985 times
Reputation: 8958
I agree.
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