The Beginning of the End

Yes, the payroll tax cut is a horrible precedent. It can no longer be said that Social Security does not contribute to the deficit.

OK.. THE FACTS are here is where ALL the Federal Governments gets Revenue:
sources
Income Taxes 1,090.0
Social Insurance Taxes 864.8 39.9% of total income from social security tax!
Ad-valorem Taxes 132.1
Business and Other Revenue 75.8
Total Direct Revenue 2,162.7
Federal Deficit 1,293.5
Gross Public Debt 13,528.8
Government Revenue Details: Federal State Local for 2010 - Charts
 
A simple majority. the dems have the majority. the dems stole your social security.

Stop with the idiocy. You are right about cutting the payroll tax being a bad idea. For once in your generally wretched existence,

try just being glad you are for once right about something and don't fuck it up by attaching some of your usual, tediously habitual, idiocy to it.

I didn't call you any names now did I? :lol::lol::lol::lol::lol:

I didn't call you any names. I was effusively praising your having gotten something right for once.
 
Yes, the payroll tax cut is a horrible precedent. It can no longer be said that Social Security does not contribute to the deficit.

Well, it is full of IOU's from previous administrations not repaying the money they took out.
No wonder it contributes to the deficit. They have taken so much out this will not be any worse than it already is. It should be illegal for anyone to touch that money for any reason.
 
Since the infamous 'Lock Box' is invested in what is essentially Greek debt....do the math.
 
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Social Security is solvent for another 25 years

I'm sure that is a comfort to those who will retire in 26 years. Everyone 42 years old and younger.

*Raises hand politely* That would be me. Fortunately, I will not need to rely on it... I only hope that others will be as fortunate.

Yes, because EVERYTHING always goes the way one thinks it will.

I know a LOT of people who were ready to retire when Bush took office, but could not afford by the time Bush LEFT office due to his incompetence on 9-11 and afterwards on every major issue.
 
I'm sure that is a comfort to those who will retire in 26 years. Everyone 42 years old and younger.

*Raises hand politely* That would be me. Fortunately, I will not need to rely on it... I only hope that others will be as fortunate.

Yes, because EVERYTHING always goes the way one thinks it will.

I know a LOT of people who were ready to retire when Bush took office, but could not afford by the time Bush LEFT office due to his incompetence on 9-11 and afterwards on every major issue.

I've ridden out the recession without taking a hit. Because I invest wisely. That's just how I am.

And.... stop whining about Bush. It makes you look silly.
 
*Raises hand politely* That would be me. Fortunately, I will not need to rely on it... I only hope that others will be as fortunate.

Yes, because EVERYTHING always goes the way one thinks it will.

I know a LOT of people who were ready to retire when Bush took office, but could not afford by the time Bush LEFT office due to his incompetence on 9-11 and afterwards on every major issue.

I've ridden out the recession without taking a hit. Because I invest wisely. That's just how I am.

And.... stop whining about Bush. It makes you look silly.
What if you get sick? or develop something like dementia? To live at my work on the special care unit it costs up to $8,000 a month if you are private pay. I have had a few residents at my work now, and another place I worked be private pay and then run out of money and have to fall back on social security and medicare.
One guy recently had to switch from being covered by only private insurance to medicare or medicaid picking up parts of his medical bills.
One can plan all day long and invest wisely, but shit happens, even to people who invested wisely. ;)
 
*Raises hand politely* That would be me. Fortunately, I will not need to rely on it... I only hope that others will be as fortunate.

Yes, because EVERYTHING always goes the way one thinks it will.

I know a LOT of people who were ready to retire when Bush took office, but could not afford by the time Bush LEFT office due to his incompetence on 9-11 and afterwards on every major issue.

I've ridden out the recession without taking a hit. Because I invest wisely. That's just how I am.

And.... stop whining about Bush. It makes you look silly.

Yes, because whatever one claims on the internet is true.

Meanwhile there's what happened in the REAL world of US citizens.
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And I'll tell you what...when this country is FINISHED PAYING for Bush's vendetta in Iraq and rich people pay their taxes instead of committing tax fraud on a scale that matches MEDICARE, then I'll stop complaining about Bush. How about that? How about I keep talking about him as long as his INCOMPETENCE and utter FAILURE as an executive continues to impact MY life? How about that?

See sweetie, no matter what you may hear in your right wing circles, MOST AMERICANS don't blame Obama for our current economic mess. They blame Bush. Now comes election time and what are you serving up? MORE of the SAME POLICIES that put us where we are. Deregulation and tax cuts.
 
I wonder if Willow realizes that at one point, not sure about now that Social Security holds more US Debt than China did.
 
We started paying out more in SSA benefits than we took in a couple of years ago. Now that we've reduced the revenue stream coming in, the SSA will be insolvent much sooner than previously forecast. There's no money in that lockbox, never was. We're already paying part of the SSA benefits out of the general treasury, the amount is just going to continually climb from here on out.

You tell me, who's going to have the balls to allow the rate to go back to what it was? If the GOP does that, the Dems will crucify them for it. What they effectively done is implement yet another redistribution of wealth program right under our noses.
 
We started paying out more in SSA benefits than we took in a couple of years ago. Now that we've reduced the revenue stream coming in, the SSA will be insolvent much sooner than previously forecast. There's no money in that lockbox, never was. We're already paying part of the SSA benefits out of the general treasury, the amount is just going to continually climb from here on out.

You tell me, who's going to have the balls to allow the rate to go back to what it was? If the GOP does that, the Dems will crucify them for it. What they effectively done is implement yet another redistribution of wealth program right under our noses.

Not yet, it looks like that won't happen until 2015...but I could be reading this wrong.

This article concerns proposals to change the Social Security system in the United States. Social Security is a social insurance program officially called "Old-age, Survivors, and Disability Insurance" (OASDI), in reference to its three components. It is primarily funded through a dedicated payroll tax. During 2009, total benefits of $686 billion were paid out versus income (taxes and interest) of $807 billion, a $121 billion annual surplus. An estimated 156 million people paid into the program and 53 million received benefits, roughly 2.94 workers per beneficiary.[1]
Reform proposals continue to circulate with some urgency, due to a long-term funding challenge faced by the program. Starting in 2015 and continuing thereafter, program expenses are expected to exceed cash revenues. This is due to the aging of the baby-boom generation (resulting in a lower ratio of paying workers to retirees),[2] expected continuing low birth rate (compared to the baby-boom period), and increasing life expectancy. Further, the government has borrowed and spent the accumulated surplus funds, called the Social Security Trust Fund.[2]
Social Security debate in the United States - Wikipedia, the free encyclopedia
 
Yes, the payroll tax cut is a horrible precedent. It can no longer be said that Social Security does not contribute to the deficit.

Well, it is full of IOU's from previous administrations not repaying the money they took out.
No wonder it contributes to the deficit. They have taken so much out this will not be any worse than it already is. It should be illegal for anyone to touch that money for any reason.

SS does not contribute to the deficit. The only money that is being paid out in SS benefits is money that was paid in, plus some of the interest owed on that.
 
Then we should be allowed to opt out of paying into social security if we aren't going to get it.

agreed. but meanwhile make you an alternate plan cause the demoncrats just stole your social security.

Yeah, that wasn't us...Lets be honest about who started borrowing against Social Security.
But you are too much of a partisan hack to actually know what is going on.

I know exactly what is going on.. obummer is signing the payroll tax exemptions and depleting the ss fund of another 111 billion dollars.. capiche?
 

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