Social Security is banrupt, so why the extra bump in the rate?

Discussion in 'Healthcare/Insurance/Govt Healthcare' started by 4Horsemen, Jan 5, 2013.

  1. 4Horsemen
    Offline

    4Horsemen Senior Member

    Joined:
    Oct 9, 2012
    Messages:
    1,205
    Thanks Received:
    116
    Trophy Points:
    48
    Ratings:
    +116
    Those of you that earn a check for a living, you may realize that your social security taxes took a hike this last pay period. how convinient Obama. fiscal cliff here we come.
     
  2. waltky
    Online

    waltky Wise ol' monkey Supporting Member

    Joined:
    Feb 6, 2011
    Messages:
    20,810
    Thanks Received:
    1,789
    Trophy Points:
    215
    Location:
    Okolona, KY
    Ratings:
    +3,867
    Mebbe to restore it to solvency?
    :confused:
     
    • Thank You! Thank You! x 1
  3. Sarah G
    Offline

    Sarah G When Nothing Goes Right, Go Left Supporting Member

    Joined:
    Mar 4, 2009
    Messages:
    47,637
    Thanks Received:
    11,826
    Trophy Points:
    2,070
    Location:
    NW Ohio
    Ratings:
    +23,982
    • Thank You! Thank You! x 2
  4. Politico
    Offline

    Politico Gold Member

    Joined:
    Jul 5, 2011
    Messages:
    13,855
    Thanks Received:
    937
    Trophy Points:
    175
    Ratings:
    +1,491
    They need to pilfer more for HC.
     
  5. 4Horsemen
    Offline

    4Horsemen Senior Member

    Joined:
    Oct 9, 2012
    Messages:
    1,205
    Thanks Received:
    116
    Trophy Points:
    48
    Ratings:
    +116
  6. LoneLaugher
    Online

    LoneLaugher Diamond Member

    Joined:
    Oct 3, 2011
    Messages:
    45,629
    Thanks Received:
    6,450
    Trophy Points:
    1,840
    Location:
    Inside Mac's Head
    Ratings:
    +18,426
    What! Social Security taxes went up?!! When? Why didn't I hear about this?
     
  7. LilOlLady
    Offline

    LilOlLady Gold Member

    Joined:
    Apr 20, 2009
    Messages:
    7,841
    Thanks Received:
    660
    Trophy Points:
    140
    Location:
    Reno, NV
    Ratings:
    +761
    Social Security, Medicare is not bankrupt and not going bankrupt and does not add one penny to the debt as the Radical Right claim so they can get the grubby greedy hands on them and cut benefits. The Radical Right use scare tactics to get people to follow them and they expect it.
     
    Last edited: Jan 6, 2013
  8. LilOlLady
    Offline

    LilOlLady Gold Member

    Joined:
    Apr 20, 2009
    Messages:
    7,841
    Thanks Received:
    660
    Trophy Points:
    140
    Location:
    Reno, NV
    Ratings:
    +761
  9. Dont Taz Me Bro
    Offline

    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

    Joined:
    Nov 17, 2009
    Messages:
    31,598
    Thanks Received:
    6,683
    Trophy Points:
    1,170
    Location:
    Las Vegas, Nevada
    Ratings:
    +17,473
    Social Security has started dipping into its trust fund to cover its obligations. Furthermore, the percentage of the budget Social Security and Medicare take up is increasing every year.

    So yes, they do contribute to the debt.

    http://www.nytimes.com/2013/01/06/opinion/sunday/social-security-its-worse-than-you-think.html?_r=0

    Federal Spending by the Numbers - 2012
     
  10. Toronado3800
    Offline

    Toronado3800 VIP Member

    Joined:
    Nov 15, 2009
    Messages:
    3,572
    Thanks Received:
    274
    Trophy Points:
    85
    Ratings:
    +355
    No, Social Security is not adding to the debt. Like you said it is using ITS saved money from the surplus years. A bump in the retirement age (like make it a fixed percentage of life expectancy) and or bump in the tax cap limit (another number which should raise over time) fixes the math.
     

Share This Page