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You want to defund the police pensions! Cops put their lives on the line every day and often they don't get paid very well for it. Their biggest benefit is a pension. They stick in those jobs for decades to qualify for that pension. Back the blue!
I want them to be bought out...ALL of them 100%. I want the buyouts to be fair, & not take anything away from them except crazy high future incomes that we must borrow to pay for...we are $30.5T in debt.
This is how the private sector got out of unsustaniable pensions. I took a buyout and it was fine. I re-invested the cash in a Roth IRA and now I can invest it as I please, which is better.
Gov't is a parasite on the private sector, and it must end, or our economy will collapse.
That comes from the present generation of children's taxes in SS that are employed.
In 65 the SS system gave to the gov, a surplus, they were so happy with that that they spent it all plus. It's been in the hole ever since and is subject to go bust in 2030. That is when the bulk of the (largest participant in workforce) Boomers are set to finalize retirement.
This is what happens when the people rely on the government (with a deficit in leadership) to manage --- anything.
Since inception, SS surpluses are required by law to be invested in special issue treasuries which makes $ available to the Federal Government to spend.
The US has been debt free one year- 1835. Every POTUS inherits debt, adds to it and kicks the can.
Reagan campaigned on delivering a balanced budget ( not that budgets have all that much to do with actual spends). The Reagan Admin in 8 years never delivered a balanced budget and the federal debt crossed the Trillion $ mark. Spending cuts were inadequate to cover tax cuts. At the time, Reagan claimed the refundable Earned Income Tax Credit ( ETIF) was the best way to fight poverty.
Some may recall, the US fought a proxy war with Russia in Afghanistan and the S&L Crisis when about one- third of all savings & loan institutions failed and a major bail out/ unwind was necessary.
Quote:
Originally Posted by middle-aged mom
Since inception, SS surpluses are required by law to be invested in special issue treasuries which makes $ available to the Federal Government to spend.
"Although Social Security is a pay-as-you-go system, meaning that current revenues are used to pay current costs, changes made to the Social Security program in 1983 began a sustained period of annual cash flow surpluses through 2009.21 Since 2010, however, Social Security has had annual cash flow deficits (program costs have exceeded tax revenues). The 2022 Annual Report of the Social Security Board of Trustees projects that, under their intermediate assumptions, annual cash flow deficits will continue throughout the 75-year projection period (2022-2096)."
"The Social Security actuaries project that Social Security benefit payments will begin to exceed payroll tax revenues in 2012. Total trust fund income — which includes interest earnings that the trust funds receive on the Treasury bonds they hold, as well as income from payroll taxes — will continue to exceed benefit payments until 2019. In 2019, the combination of payroll tax revenues and interest earnings will no longer be sufficient to cover all benefit costs, and the trust funds have to begin redeeming the bonds they hold to raise the additional funds needed. The actuaries project that the trust funds will cash in these bonds fully in 2029. At that point, the Social Security surplus now building up will be exhausted."
Thus the 2030 problem, because of the decline in the working age population. By 2024 the people over 65 will out number the children for the first time in u.s. history.
In 1965 (unless I'm missing something) the Boomer generation had their retirement funds through SS locked in, until the gov. came along and miss managed the trust. Under the FDR New Deal, the Boomers did their part; it's sad the government couldn't do theirs.
The way to stop this, and the 99% of the things the federal government is involved in and shouldn't be, is to gut the federal government. Castrate it. The states have a right to do that--Convention of States. Sadly, very few lawmakers have the courage to enact it, which is our last hope. Ultimately, we will never vote our way out of the tar pit we are trapped within.
I agree, we'll never vote our way out of this quagmire. Our best hope is a Convention of states, or actions taken by most Americans that involve the powers we have to; work, pay taxes, & spend...or some combination thereof. That is how big gov't must be attacked.
We need to selectively withhold labor, taxes, & consumer buying in a very targeted fashion to maximize the impact upon the gov't. I'd focus upon DC & a 100 mile radius around DC as a start.
Small business is uniquely qualified to carry out the tax element of this plan.
Big Gov't must be peacefully taken back by the masses...there's no other way. DC won't relinquish what they have built.
Don't you wish you could give yourself a cushy pension, pay yourself 1/5x more than those in the private sector, & never be able to get downsized, or fired?
I pray with you!! Giving FREE stuff to others, PAID for by hard-working American taxpayers, is the Democrat way!! That way everyone benefits, whether they contribute to the pot, or not. (Communism?) Americans voted (WINK! WINK!) and got exactly what they asked for!
The Dems are the worse, but the Pubs are not far behind. They have done nothing to end these unsustainable gov't pensions, or reverse the growth of Big Gov't. Rand Paul ad Thomas Massie are the only 2 out of 535 in Contress that have done so.
The Dems are the worse, but the Pubs are not far behind. They have done nothing to end these unsustainable gov't pensions, or reverse the growth of Big Gov't. Rand Paul ad Thomas Massie are the only 2 out of 535 in Contress that have done so.
You are talking NY and CA. People vote and they want Dems to lead
I agree, we'll never vote our way out of this quagmire. Our best hope is a Convention of states, or actions taken by most Americans that involve the powers we have to; work, pay taxes, & spend...or some combination thereof. That is how big gov't must be attacked.
We need to selectively withhold labor, taxes, & consumer buying in a very targeted fashion to maximize the impact upon the gov't. I'd focus upon DC & a 100 mile radius around DC as a start.
Small business is uniquely qualified to carry out the tax element of this plan.
Big Gov't must be peacefully taken back by the masses...there's no other way. DC won't relinquish what they have built.
Don't you wish you could give yourself a cushy pension, pay yourself 1/5x more than those in the private sector, & never be able to get downsized, or fired?
I have never been gainfully employed since high school. I contributed to the family income by buying trashed houses and just minor rehabbing them.DId it 15 times. It was a pretty good way to earn money while taking care of the family.
Having coffee with a friend when he informed me that I could get 1/2 of DHs social security. I was stunned.
Not so sure I think that's OK, but I'm to returning the money.
But now, if a dad retires and takes SS, his school aged kid gets half of what dad draws.
Nobody would be upset about a kid getting the insurance part of social security when a parent is no longer there. But retired? Those kids of retired parents and I are on a gravy train.
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