Social Security disability on verge of insolvency!

Discussion in 'Politics' started by get_involved, Aug 21, 2011.

  1. get_involved
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    get_involved Gold Member

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    Social Security disability on verge of insolvency -- GazetteXtra

    I think letting the payroll tax (Social Security Tax) on workers rise is a good idea or maybe we can move the retirement age to 80 (Sarcasm about the age).

    "At issue is a tax that the vast majority of workers pay, but many don't recognize because they don't read, or don't understand their pay stubs. Workers normally pay 6.2 percent of their wages toward a tax designated for Social Security. Their employer pays an equal amount, for a total of 12.4 percent per worker.

    As part of a bipartisan spending deal last December, Congress approved Obama's request to reduce the workers' share to 4.2 percent for one year; employers' rate did not change. Obama wants Congress to extend the reduction for an additional year. If not, the rate will return to 6.2 percent on Jan. 1."

    National and World -- GazetteXtra
     
    Last edited: Aug 22, 2011
  2. TruthSeeker56
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    TruthSeeker56 Silver Member

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    I have even a BIGGER headline for you:

    The United States Is On The Verge Of Insolvency!
     
  3. thereisnospoon
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    thereisnospoon Gold Member

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    Yep. I had intended on starting a thread on this very issue.
    Here is the link I read from

    Social Security disability on verge of insolvency - Yahoo! NewsNow watch the bullshit fly from those on the left.
     
    Last edited: Aug 21, 2011
  4. flacaltenn
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    flacaltenn USMB Mod Staff Member Gold Supporting Member

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    First off -- ALL of Social Security went INSOLVENT in 2010.. Hate to break the news here, but the article repeats the same lie about taking "funds out of the Trust Fund until 2017".. THERE IS NOTHING OF VALUE in the trust fund and Soc Sec paid out MORE in 2010 than it took in.. NO MORE SURPLUS...

    That is -- thanks to Obama and progressives reaching deep to find the ONLY TAX CUT that would apply to all workers.. Which was to raid the premiums for SS at a time when the fund was going into an early coma. That and continued sucky economy..

    FIRST washington steals $3Trill over 25 years in SS surplus and puts worthless IOUs in the "trust fund".
    NOW they are stealing from current premiums..
    NEXT they have UNIVERSAL health care to sell us -- because we TRUST THEM SO DAMN much.. (Yes I'm angry)

    BTW: As all self-employed and small business owners do -- I get to pay the entire 12.6% MYSELF. What an 'f-in' bargain eh??
     
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  5. Cuyo
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    Cuyo Training a Guineapig army

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    So take a bigger cut on schedule K-1 (draw) and you won't have to pay it at all.

    But remember, you won't get anything back later when you may need it.
     
  6. hellofromwarsaw
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    hellofromwarsaw BANNED

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    ...in 2017....
     
  7. uscitizen
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    uscitizen Senior Member

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    New congressional estimates say the trust fund that supports Social Security disability will run out of money by 2017, leaving the program unable to pay full benefits, unless Congress acts. About two decades later, Social Security's much larger retirement fund is projected to run dry as well.

    Social Security disability on verge of insolvency - Yahoo! News

    So SS disability insolvent in 2017 and SS retirement funds insolvent in 2037.
     
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  8. Conservative
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    Conservative Type 40

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    yes, by all means... lets wait until then to do anything about it, right?

    Do you usually wait until you run out of gas to fill up?
     
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  9. Full-Auto
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    Full-Auto Gold Member

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    Paying off unions doesnt get it done fool. Saving bloated government doesnt get it done.

    You havent had a plan worth the paper it was written on. But instead of trying to strengthen the job market you fucking clowns keep adding regulation.
     
  10. whitehall
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    whitehall Gold Member

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    FICA taxes are a huge windfall for the federal government. They realized that way back in FDR's day while politicians were stealing the money. LBJ made it "legal" by officially designating FICA taxes as the property of the federal government and from then on there was no pretending about a social security "locked box". There ain't no money because there never was anything but a promise to pay it back.
     
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