The Ecomomic Tsunami Coming.....and Obama's only...

[Iriemon]

iriemon is correct you can't just give people money it doesn't work that way, nor will the government cut benefits. they would want obama presidency on a silver platter. i think what they are eventually gonna raise the retirement age to 70 or 72 and cut future receiptents benefits and oh yeah raise taxes.

I think they should make it means tested too. Doesn't make a lot of sense to be sending folks like Warren Buffet SS checks when the system is about broke.

I don't mind 'means testing' after the person has the money that 'was set aside for them' collected. If someone wants to say, "No thanks, give my part to others." Fine too. But, the person should decide what to do with the money that has been forcibly witheld for the past 70 years or so.

I'd agree with you if the Govt weren't $11 trillion in debt and the SS trust hadn't been raided to finance the tax cuts.

But that unfortunately is the situation we find ourselves in. As conservatives constantly point out, we need some spending cuts, and unnecessary Govt subsidies to folks like Warren Buffet is a good place to start.

 

[Toro]

Social security and medicare can be easily fixed, but all it takes is some political will. There are two ways.

1.) Raise the age when people can start receiving social security. Forty years ago, the average age people lived was 65. Today, its 77 yet the parameters of social security have not changed. Raise the age to 70 or 72.

2.) Make it a real pension fund. Invest the proceeds from social security contributions in stocks, real estate, private equity, etc. Many countries do this. Every single state does this for the pensions of its workers. Do the same for social security.

It has to be fixed. It is inevitable. The sooner we do it, the better it will be.

 

[Old Rocks]

There are solutions available. It's just that nobody wants to discuss something that may require a reduction in benefits. But that is the only logical answer at this point.

Bullshit. Once again, we have a solution that punishes those that created the wealth, and rewards the parasites. The solution is simple. That 6.2 that I pay is levied on all income. Then SS is solvent.

 

[Iriemon]

There are solutions available. It's just that nobody wants to discuss something that may require a reduction in benefits. But that is the only logical answer at this point.

Bullshit. Once again, we have a solution that punishes those that created the wealth, and rewards the parasites. The solution is simple. That 6.2 that I pay is levied on all income. Then SS is solvent.

That is probably true.