Social Security won't be able to pay full benefits by 2034, a year earlier than expected due to the pandemic

[Admiral Rockwell Tory]

I have heard that term. I have not heard porch sitters. "Sitter" and "Monkey" are not the same words and do not have similar meanings or innuendo.

Yes, they have very similar meanings. "Porch monkeys" sit and the porch all day, and do not work.

If you are not a racist, you will not use that term please!

 

[DBA]

Yes, they have very similar meanings. "Porch monkeys" sit and the porch all day, and do not work.

If you are not a racist, you will not use that term please!

"Monkey" can be a racist term referring to African Americans. I agree with that. "Sitter" is not at all racial and refers to any person sitting and not working and generally being lazy. That is specifically I used that term as it is applicable to people of all races and gender particularly on the Democratic side of the aisle. Sorry if you don't like it, but you are assigning racial undertones to something that is absolutely NOT racist. PC gone wild.

 

[Admiral Rockwell Tory]

"Monkey" can be a racist term referring to African Americans. I agree with that. "Sitter" is not at all racial and refers to any person sitting and not working and generally being lazy. That is specifically I used that term as it is applicable to people of all races and gender particularly on the Democratic side of the aisle. Sorry if you don't like it, but you are assigning racial undertones to something that is absolutely NOT racist. PC gone wild.

OK, ,that's fine, but hopefully you realize that ,unless your vocabulary is extremely limited, you should not use this term. Thank you for your consideration.

 

[DBA]

OK, ,that's fine, but hopefully you realize that ,unless your vocabulary is extremely limited, you should not use this term. Thank you for your consideration.

Ok, stoop resters, but it doesn't have the same ring to it. Maybe I just need to revert to referring to these folks that prefer resting to working for what they are...LAZY.

 

[badbob85037]

Canada has a similar problem but a longer horizon. This is why people like me despise crony capitalism. It's often just theft. Help out small to medium sized innovative companies not massive multi-billion dollar companies.

What happens if this prediction comes to fruition?

Social Security won't be able to pay full benefits by 2034, a year earlier than expected due to the pandemic | CNN Politics

Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.

www.cnn.com

Washington (CNN)Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.

That's one year earlier than reported last year. By that time, the combined trust funds for Social Security will be depleted and will be able to pay only 78% in promised benefits to retirees and disabled beneficiaries.

The Covid-19 pandemic and economic recession are to blame for moving up the depletion rate by a year, driven by the big drop in employment and resulting decline in revenue from payroll taxes. The trustees also project a higher mortality rate through 2023 and a delay in births in the short term.

But it remains unclear what the long-term effects of the pandemic will be on the funds and the trustees will continue to monitor developments. Last year's report did not take into account the effects of the pandemic.

The projections for Medicare are roughly on par with last year's report.

The trust fund for Medicare Part A, which covers hospital and nursing home costs for seniors, will be depleted by 2026, the same year as reported last year. At that point the program would only be able to pay out 91% of promised benefits.

Social Security was part of the New Deal. It was billed by the democRats as your tax free saving account, no one else could touch, There when ever you needed it. When Congress gutted the New Deal during WWII as unconstitutional for some reason they left Social Security.
A democRat, Jimmy Carter started giving it away to immigrants that had never payed a dime into it. A democRat Congress voted to 'borrow' it and borrow every penny they did. It was a democRat Congress that voted to tax it with Algore casting the deciding vote. It was a democRat; obama that used it to build upper middle class neighborhoods again for immigrants from the Middle East. It is democRats telling us Republicans are trying to steal it. These democRats just happen to be stupid.

 

[jbander]

Yes, I am fine with people keeping their own money. It's the American way. Theft is theft no matter if it's by the point of a gun or government.

The problem in our society is few care about spending or debt because most don't have a dog in the race. Create a consumption tax for deficits and debt and you'd see how quickly people would start to care. Spend more money on worthless projects like the environment, tax somebody else, why should I care? But what people don't realize is that this country will hit a point where we can't even pay the interest on the debt we owe, and when that happens, nobody will lend us a dime and our country collapses.

Nobody got wealthy over tax structure. People got wealthy risking their own money for investments, starting their own business, creating a new invention, but not because of how taxes are laid out. The people on the top live off of their investments, and investments are needed in this country. Many of us have an IRA and we want to see it continue to grow. Taxes are low for investors so they do put their money in the market that helps out nearly the entire country. Take that away and the market collapses. Even the Democrats realize this.

You are still trying to claim that wealth can't be distributed through tax law and law. and I made it clear as day that the golden few that got every new dime of wealth in this country since 1981 trickle down lie that's over 40 years . That it can be easily changed so all the new wealth of this country for the next 40 years can be made to go to everyone else other then the people who got it for the last 40 years. You just think this small group of people deserve everything.. And your bullshit about taxes is nothing but stealing (COOCOO TALK) is derived from the fact that you hate our government and country. The stealing is this small micro group getting every dime of new wealth for the last 40 years. You aren't making any argument to this being unfair , hell your are supporting this tragedy and this threat on capitalism itself ,because some how you think a few people should get it all.

 

[jbander]

Yes, I am fine with people keeping their own money. It's the American way. Theft is theft no matter if it's by the point of a gun or government.

The problem in our society is few care about spending or debt because most don't have a dog in the race. Create a consumption tax for deficits and debt and you'd see how quickly people would start to care. Spend more money on worthless projects like the environment, tax somebody else, why should I care? But what people don't realize is that this country will hit a point where we can't even pay the interest on the debt we owe, and when that happens, nobody will lend us a dime and our country collapses.

Nobody got wealthy over tax structure. People got wealthy risking their own money for investments, starting their own business, creating a new invention, but not because of how taxes are laid out. The people on the top live off of their investments, and investments are needed in this country. Many of us have an IRA and we want to see it continue to grow. Taxes are low for investors so they do put their money in the market that helps out nearly the entire country. Take that away and the market collapses. Even the Democrats realize this.

He says Taxes are stealing everyone , he is a total child. Goofy one at that. Its amazing that a person this old never got around to put his big persons pants on.

 

[Ray From Cleveland]

You are still trying to claim that wealth can't be distributed through tax law and law. and I made it clear as day that the golden few that got every new dime of wealth in this country since 1981 trickle down lie that's over 40 years . That it can be easily changed so all the new wealth of this country for the next 40 years can be made to go to everyone else other then the people who got it for the last 40 years. You just think this small group of people deserve everything.. And your bullshit about taxes is nothing but stealing (COOCOO TALK) is derived from the fact that you hate our government and country. The stealing is this small micro group getting every dime of new wealth for the last 40 years. You aren't making any argument to this being unfair , hell your are supporting this tragedy and this threat on capitalism itself ,because some how you think a few people should get it all.

I'm a rich guy. I made 150 billion last year. Government didn't give me the money, I created it myself like all millionaires and billionaires. Why should I give my money to people like you who never earned it? I earned it, shouldn't I be able to keep it, and if not, why not?

Tax the wealthy, and do you suppose government is going to give you a check every week or month of my money? We have 330 million people in this country, how big of a check do you suppose you'd get when we divide this money between 330 million people? Your check would be about ten bucks and thirty cents.

 

[jbander]

I'm a rich guy. I made 150 billion last year. Government didn't give me the money, I created it myself like all millionaires and billionaires. Why should I give my money to people like you who never earned it? I earned it, shouldn't I be able to keep it, and if not, why not?

Tax the wealthy, and do you suppose government is going to give you a check every week or month of my money? We have 330 million people in this country, how big of a check do you suppose you'd get when we divide this money between 330 million people? Your check would.be about ten bucks and thirty cents.

There isn't even a suggestion on my part that the wealthy won't make any money. The government decide how much of that money you get to keep, I'm not even going into you idiocy about taxes being stealing , that is just stupid/ You think that the wealthy deserve everything. Every dam dollar of new wealth in this country , that's what you support. It's comedy you saying that the money shouldn't be shared by everyone and only the wealthy should get it all. Somehow in a capitalistic system you think that is what capitalism prescribes. IT doesn't in any way, the sole driving force of capitalism is the promise of the potential to get ahead. Which has been totally erased for the last 40 years. Without that promise capitalism isn't worth shit and will be taken over by any system anyone suggest that is more equitable. Your ignorance and thinking that the wealthy some how deserve everything is stupid , a system that will never be supported by any group of people that makes up a country.

Ask a wealthy person if he is a self made , they will all say they are, which is bullshit. Most are handed a amount of seed money by mommy and daddy. That without even doing a thing ,not working ,not even thinking but just thrown in a S and P fund will make them millionaires in 20 years. The only thing that the tax structure , tax law and law are offering now is the destruction of capitalism. It will not be accepted the way you want it. The biggest threat to capitalism is people like you, the I want and deserve it all group.

 

[jbander]

This promises the destruction of capitalism in this country. You not being able to see it only shows your total ignorance of what the capitalistic system is. I already know ray the dancing duck won't understand this , hell he doesn't even know how to read a chart.

 

[Lesh]

I'm a rich guy. I made 150 billion last year. Government didn't give me the money, I created it myself like all millionaires and billionaires. Why should I give my money to people like you who never earned it? I earned it, shouldn't I be able to keep it, and if not, why not?

Tax the wealthy, and do you suppose government is going to give you a check every week or month of my money? We have 330 million people in this country, how big of a check do you suppose you'd get when we divide this money between 330 million people? Your check would be about ten bucks and thirty cents.

You claimed to be a fucking trucker living in a blighted neighborhood

 

[Ray From Cleveland]

You claimed to be a fucking trucker living in a blighted neighborhood

So what does that have to do with my comment? My neighborhood is not blighted, it's just high-crime because the blacks moved in.

 

[Lesh]

I'm a rich guy. I made 150 billion last year. Government didn't give me the money, I created it myself like all millionaires and billionaires. Why should I give my money to people like you who never earned it? I earned it, shouldn't I be able to keep it, and if not, why not?

What you are...is full of shit

 

[Ray From Cleveland]

There isn't even a suggestion on my part that the wealthy won't make any money. The government decide how much of that money you get to keep, I'm not even going into you idiocy about taxes being stealing , that is just stupid/ You think that the wealthy deserve everything. Every dam dollar of new wealth in this country , that's what you support. It's comedy you saying that the money shouldn't be shared by everyone and only the wealthy should get it all. Somehow in a capitalistic system you think that is what capitalism prescribes. IT doesn't in any way, the sole driving force of capitalism is the promise of the potential to get ahead. Which has been totally erased for the last 40 years. Without that promise capitalism isn't worth shit and will be taken over by any system anyone suggest that is more equitable. Your ignorance and thinking that the wealthy some how deserve everything is stupid , a system that will never be supported by any group of people that makes up a country.

Ask a wealthy person if he is a self made , they will all say they are, which is bullshit. Most are handed a amount of seed money by mommy and daddy. That without even doing a thing ,not working ,not even thinking but just thrown in a S and P fund will make them millionaires in 20 years. The only thing that the tax structure , tax law and law are offering now is the destruction of capitalism. It will not be accepted the way you want it. The biggest threat to capitalism is people like you, the I want and deserve it all group.

Nobody is handed the wealth. The wealth isn't governments and they decide how to dole it out. The wealth is created by the wealthy people, and you think it's deplorable that they keep what they created. You think the government should take what they created and give it to other people.

I think we need to extrapolate that. If you have six beautiful bushes in your front yard, that's not fair. The government should come along, take three of your bushes, and give it to the family on the next street that have no bushes at all. You have four big screens in your home? That's not right. Government should come along, take two of your big screens, and give them to households that can't afford any big screen televisions.

Nearly 68% of the world's richest people are 'self-made,' says new report

A new report from Wealth-X says only 8.5% of the world's ultra-high-net-worth population — individuals with $30 million or more in net worth — inherited their money.

www.cnbc.com

The market research firm analyzed the state of the world’s ultra-wealthy population — or those with a net worth of $30 million or more. The report, which is based on 2018 data, “showed muted growth” in the number of ultra-wealthy people that year, “rising by 0.8% to 265,490 individuals,” says Wealth-X.

Of those folks, 67.7% were self-made, while 23.7% had a combination of inherited and self-created wealth. Only 8.5% of global high-net-worth individuals were categorized as having completely inherited their wealth.

So capitalism is dying, huh?

 

[Ray From Cleveland]

What you are...is full of shit

So no reply of any substance. Why don't you just come out and say "you won the debate."

 

[Lesh]

So no reply of any substance. Why don't you just come out and say "you won the debate."

I have no wish to "debate" someone so dishonest that in one post you claim to be a trucker living in a blighted neighborhood and then in another claims to be worth 150 millions dollars

 

[Ray From Cleveland]

I have no wish to "debate" someone so dishonest that in one post you claim to be a trucker living in a blighted neighborhood and then in another claims to be worth 150 millions dollars

I was giving an example. Sheeesh.

 

[Turtlesoup]

You do realize there is a difference between SS/SSDI and SSI don't you???

SS/SSDI (Social Security/Social Security Disability Insurance) is that tax workers pay into from their paychecks until they are of retirement age OR become disabled before retirement age set by the Social Security Department. Most beneficiaries are those entitled to receive what they've paid into. And yes, if a worker becomes disabled before the age requirement and has minor children......not only does the disabled worker receive benefits, but also does the minor children up to a certain amount of the whole benefit......Example: Worker benefit is $1500 per month and has 2 minor children, who each receive up to half or $750 each. You have to work and pay into the system for 10 years or more, before becoming eligible for benefits
Also, any divorced couples that had been married for more than 10 years and becomes disabled, the other can be eligible to receive benefits from their ex's benefit, but the amount is only a fraction. Example: Harry & Sue had been married for 12 years then were divorced. Both had worked and paid into the system for 20 years. 2 years after the divorce, Sue becomes disabled and Harry applies for ex spouse benefits. Sue gets her full benefit amount and Harry gets $50.


SSI (Supplemental Security Income) is more like a welfare check to those who can't work and/or have not paid into the SS system for the required number of years. This program is alot more sketchy of who does and who doesn't get benefits and is widely abused. The receivers of SSI have not worked or paid into the system.....or have not worked enough years to be eligible for SSDI. SSI is paid to one individual only, any minor children would receive welfare benefits. ....... EXample: Young 25yo single mother with 2 kids and working.....contracts a crippling disease or has a life changing accident and can no longer work to support herself and kids. She's only been working and paying into the system for 7 years. She is NOT eligible for SSDI, but is for SSI and she'll get welfare benefits for the kids IF there is no child support. If she is getting child support, then that amount is deducted from any welfare benefits for the kids.


Just understand that not all disabilities are obvious and just because someone isn't hooked up to an iron lung, or uses a wheelchair doesn't mean they aren't disabled according to SSA rules with medical records and/or documentation to back it up

Understanding Supplemental Security Income (SSI)-- SSI Overview

This page provides info on how SSA pays monthly benefits to people with limited income and resources who are disabled, blind, or age 65 or older.

www.ssa.gov

I know plenty of people----who have scammed the system and instead of working collect disability...

 

[Turtlesoup]

Social Security isn't just a retirement plan. For those of you with families it is also a term life insurance policy.

It's a scam....

 

[kyzr]

It's a scam....

It has worked perfectly for 85-years. It needs to be fixed. Its not a scam, you do get a benefit.