Social security to be out of money sooner than projected and democrats ignore growing problem (politicians, party)
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.
Indeed. I had no idea there was a cap... and I suspect all kinds of people that never made $160k a year didn't know it either. Raising that (or eliminating it altogether) is a no-brainer way to fix it immediately.
And if I was one of the people making enough money for that idea to whiz me off, I'd just leave.
There's a cap on the tax and there's also a cap on the benefits. SS is progressive, which means those who pay the least in SS taxes get the greatest return in benefits, while those in the middle class and above LOSE money on SS.
Here is an idea to help Social Security, you know the system that we are forced to pay into... STOP GIVING HANDOUTS TO ILLEGAL ALIENS!
My home state of MA. has been taking in thousands of "migrants" and as a "Right to Shelter" state...... that only seems to apply to Illegals not homeless citizens................ and placing them into Hotels and giving them everything they want and $40 per day. The estimated cost for this act of kindness, this Gullible Generosity is $45 MILLION per month.
How many of our elderly citizens could benefit from that money? I'm sure every one of them could use an extra $40 per day.
What a cruel joke the Dems and Reps are playing on America.
Biden did tell us a long time ago America would not be first. He said America first policies hurt our country.
Why won’t Republicans? They control the House, they could pass bill to address Social Security. Here are some Democrat ideas:
“As a candidate for president, Mr. Biden proposed adding a new tier of payroll tax contributions for people with incomes over $400,000. That would extend solvency by roughly five years. The Social Security 2100 Act, sponsored by Representative John Larson, Democrat of Connecticut, enjoys widespread support in the Democratic caucus. It mirrors President Biden’s payroll tax proposal......
Just this week, Senators Bernie Sanders of Vermont and Elizabeth Warren of Massachusetts introduced the latest version of their own Social Security proposal. It would extend solvency by 75 years, give nearly all beneficiaries an increase of $200 per month through a revision in the benefit formula and adopt a more generous annual cost-of-living increase. It would be funded by applying current FICA tax rates to incomes above $250,000, and with two new taxes on investment income.”
Benefits in social security are quickly running out and democrats want to do nothing to fix this growing crisis. Even the NYT and cnn have recently published articles that highlight the need to fix social security.
“There is nothing complicated about fixing Social Security, according to R. Douglas Arnold, the William Church Osborn Professor of Public Affairs, Emeritus, and professor of politics and public affairs, emeritus, at Princeton University. Legislators could simply raise taxes or they could cut benefits — by raising the retirement age, for example. What remains complicated are the politics of fixing Social Security, Arnold argues in a new book published by Princeton University Press.”
Why won’t the democrat party do anything to help fix social security? Don’t they care?
The Republicans have been saying Social Security will run out of money FOR DECADES. I don’t believe them.
They just want to hand over the money to Wall Street.
I don’t trust Wall Street. It’s all an insiders racket
No, not significantly more. Simply the same percentage as everyone else.
No. They want to keep the benefits cap. That means higher-income earners will pay more in SS taxes but NOT get commensurately higher benefits for doing so.
Higher-income earners already lose the most on SS. There's no reason whatsoever to make that loss even greater.
Do people really have NO clue how SS works?
Those who pay the least in SS taxes get the greatest return in benefits. Those who pay the most, LOSE the most money on the deal.
Benefits in social security are quickly running out and democrats want to do nothing to fix this growing crisis. Even the NYT and cnn have recently published articles that highlight the need to fix social security.
“There is nothing complicated about fixing Social Security, according to R. Douglas Arnold, the William Church Osborn Professor of Public Affairs, Emeritus, and professor of politics and public affairs, emeritus, at Princeton University. Legislators could simply raise taxes or they could cut benefits — by raising the retirement age, for example. What remains complicated are the politics of fixing Social Security, Arnold argues in a new book published by Princeton University Press.”
Why won’t the democrat party do anything to help fix social security? Don’t they care?
Much simpler and less painful solution is to raid the retirement funds of all civilian non emergency responding government employees. It is time the politicians, teachers, postal employees and other bureaucrat position holders feel the pain. Any government employee should feel the same burden that has been placed on the private sector workers.
If that is not enough, benefits to welfare recipients need to be cut to the bare minimum and food benefits need to be given out in food again rather than EBT. It is time for the problem to become the solution. We are in dire times and dire times require dire solutions.
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.
