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I'm on Social Security and I think it should be phased out altogether. I've made several references in the past as to people being able to have retirement funds - and they will work.
As to Gadaway's comments on the US being broke so how do we repay the "loans" Congress has taken from SS over the years - cut the budgets (better yet, do away with) programs such as Fannie Mae and Freddie Mac. They do not need to be making, and/or forcing other entities to make, loans for mortgages for people who are not financially able to meet the mortgage obligations. *Gasp!* What will those people do for housing? Where would they go? Out on the streets, cold and homeless? Well, no. There's a thing called rental property - apartments, condos, single family homes and the rental rates cover a very broad spectrum. I realize the American Dream is to own a home - but it is not a Constitutional right that we actually do own said house.
Cut back on student loans. There is no Constitutional right to higher education at the expense of others. People who can't add 2+2 or read above a 3rd grade level should not have any expectation that they are entitled to higher education. Those who have busted ass to maintain A/B levels of education should be qualified to receive loans for education - with several expectations - like maintaining those high grades - or lose further loans.
Cut the damned earmarks altogether. That one act should save millions of tax dollars on an ongoing basis.
Make welfare a very temporary source of income and have strict guidelines as to who, when, where and what would qualify someone to receive welfare. It should NOT be a generational permanent source of income. On the other hand, someone may have had some event occur where a temporary helping hand should be offered with the expectation that while that helping hand is being offered the recipient should be doing something to reverse and/or cure the setback.
I think Maddie referred to COLA raises being cut. COLA raises to the best of my knowledge and experience are $100 a year (or just over $8 per month). For 2010 and 2011 there were no COLA raises period. Congress declared in 2009 that there would be no increases in America's living costs therefore no COLA increases were necessary. Of course, costs of food, utilities, housing, and everything else did keep on getting higher and higher and our usable dollars kept shrinking and shrinking. Go figure.
A new version of the plan, obtained by The Associated Press on Tuesday, makes mostly minor changes to a draft that whipped up enormous controversy when unveiled earlier this month. Some domestic spending cuts are modestly higher than previously proposed, and health care savings from overhauling the medical malpractice system would reap less than proposed earlier this month.
Unlike their original proposal, Bowles and Simpson stop short of calling for caps on medical malpractice awards. Instead they recommend changes in how awards are made.
But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.
The plan also retains a 15-cent-a-gallon increase on gasoline, a three-year freeze on federal worker pay and the elimination of 200,000 workers from the federal payroll through attrition.
The proposal obtained by the AP was a draft that was still undergoing changes Tuesday evening.
Other recommendations:
-- Eliminate congressional pet spending projects known as "earmarks."
-- Reduce the corporate income tax rate to 28 percent from 35 percent and stop taxing the overseas profits of U.S.-based multinational corporations.
-- Overhaul individual income taxes and corporate taxes, giving Congress the choice of reducing the top rate to as low as 23 percent and no higher than 29 percent. The lower the rate, the fewer the tax credits and deductions that would be available to taxpayers.
Under one scenario proposed by Bowles and Simpson, taxpayers would face three tax brackets of 12 percent, 21 percent and 28 percent. Taxpayers would still be able to claim an earned income tax credit and child tax credit as well as all standard deductions and exemptions. Capital gains and dividends would be taxed at ordinary income tax rates. Taxpayers could claim a mortgage interest deduction up to $500,000, but only on their primary residence.
If Congress does not undertake a comprehensive overhaul of the tax system by 2013, the plan calls for a "fail-safe" provision that would trigger across-the-board reductions in tax breaks, designed to raise revenue by $80 billion in 2015 and $180 billion in 2020.
Social Security cuts are part of deficit plan | cleveland.com
I am not a huge fan of increasing the retirement age under Social Security. I would rather tax all income for Social Security purposes (at present, we do not tax income above a certain level, more or less $108,000.) I would also be more interested in eliminating Social Security benefits for wealthier taxpayers than in increasing the retirement age.
What say you?
The Government can not tax people for a benefit and then deny that benefit to them when they qualify.
The easiest way to save Social Security is for the Fed to pay back all the IOU's, to cease using the tax money each year as General funds and to invest it for those that will need it. Raising the age limit is a reasonable solution if it is medically correct that the person can still work and that laws prevent companies from firing people for being a certain age.
Raise the age of retirement, and cut SSI for those over a certain income level.
But then that raises another issue.... why should wealthy people pay into a system they dont use?
I think SSI should be eliminated all together IMO, or at least be able to opt out.
Let me take MY money and invest it how I want to... I think I can do a better job than they do.
A new version of the plan, obtained by The Associated Press on Tuesday, makes mostly minor changes to a draft that whipped up enormous controversy when unveiled earlier this month. Some domestic spending cuts are modestly higher than previously proposed, and health care savings from overhauling the medical malpractice system would reap less than proposed earlier this month.
Unlike their original proposal, Bowles and Simpson stop short of calling for caps on medical malpractice awards. Instead they recommend changes in how awards are made.
But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.
The plan also retains a 15-cent-a-gallon increase on gasoline, a three-year freeze on federal worker pay and the elimination of 200,000 workers from the federal payroll through attrition.
The proposal obtained by the AP was a draft that was still undergoing changes Tuesday evening.
Other recommendations:
-- Eliminate congressional pet spending projects known as "earmarks."
-- Reduce the corporate income tax rate to 28 percent from 35 percent and stop taxing the overseas profits of U.S.-based multinational corporations.
-- Overhaul individual income taxes and corporate taxes, giving Congress the choice of reducing the top rate to as low as 23 percent and no higher than 29 percent. The lower the rate, the fewer the tax credits and deductions that would be available to taxpayers.
Under one scenario proposed by Bowles and Simpson, taxpayers would face three tax brackets of 12 percent, 21 percent and 28 percent. Taxpayers would still be able to claim an earned income tax credit and child tax credit as well as all standard deductions and exemptions. Capital gains and dividends would be taxed at ordinary income tax rates. Taxpayers could claim a mortgage interest deduction up to $500,000, but only on their primary residence.
If Congress does not undertake a comprehensive overhaul of the tax system by 2013, the plan calls for a "fail-safe" provision that would trigger across-the-board reductions in tax breaks, designed to raise revenue by $80 billion in 2015 and $180 billion in 2020.
Social Security cuts are part of deficit plan | cleveland.com
I am not a huge fan of increasing the retirement age under Social Security. I would rather tax all income for Social Security purposes (at present, we do not tax income above a certain level, more or less $108,000.) I would also be more interested in eliminating Social Security benefits for wealthier taxpayers than in increasing the retirement age.
What say you?
The Government can not tax people for a benefit and then deny that benefit to them when they qualify.
The easiest way to save Social Security is for the Fed to pay back all the IOU's, to cease using the tax money each year as General funds and to invest it for those that will need it. Raising the age limit is a reasonable solution if it is medically correct that the person can still work and that laws prevent companies from firing people for being a certain age.
See everyone Republicans are going to cut social security. Told you so.
I'm on Social Security and I think it should be phased out altogether. I've made several references in the past as to people being able to have retirement funds - and they will work.
As to Gadaway's comments on the US being broke so how do we repay the "loans" Congress has taken from SS over the years - cut the budgets (better yet, do away with) programs such as Fannie Mae and Freddie Mac. They do not need to be making, and/or forcing other entities to make, loans for mortgages for people who are not financially able to meet the mortgage obligations. *Gasp!* What will those people do for housing? Where would they go? Out on the streets, cold and homeless? Well, no. There's a thing called rental property - apartments, condos, single family homes and the rental rates cover a very broad spectrum. I realize the American Dream is to own a home - but it is not a Constitutional right that we actually do own said house.
Cut back on student loans. There is no Constitutional right to higher education at the expense of others. People who can't add 2+2 or read above a 3rd grade level should not have any expectation that they are entitled to higher education. Those who have busted ass to maintain A/B levels of education should be qualified to receive loans for education - with several expectations - like maintaining those high grades - or lose further loans.
Cut the damned earmarks altogether. That one act should save millions of tax dollars on an ongoing basis.
Make welfare a very temporary source of income and have strict guidelines as to who, when, where and what would qualify someone to receive welfare. It should NOT be a generational permanent source of income. On the other hand, someone may have had some event occur where a temporary helping hand should be offered with the expectation that while that helping hand is being offered the recipient should be doing something to reverse and/or cure the setback.
I think Maddie referred to COLA raises being cut. COLA raises to the best of my knowledge and experience are $100 a year (or just over $8 per month). For 2010 and 2011 there were no COLA raises period. Congress declared in 2009 that there would be no increases in America's living costs therefore no COLA increases were necessary. Of course, costs of food, utilities, housing, and everything else did keep on getting higher and higher and our usable dollars kept shrinking and shrinking. Go figure.
I agree but add up all of that it would not pay back 5% of the IOUs.
85% of the budget is social security, military, interest and Mediare.
Cuts HAVE TO be made in social security nd Medicare. Just a fact.
Raising taxes on the "rich" is not the answer. Never raises revenue.
For one cap the age of immigrants at 30. I am SICK of seeing grandma and grandpa being brought over and getting SS and Medicare because they are old. I don't give a shit.
They’ve already made cuts to both and no one has even noticed. I work with this 60 year old he tells me his retirement age is 67. When did that happen?A new version of the plan, obtained by The Associated Press on Tuesday, makes mostly minor changes to a draft that whipped up enormous controversy when unveiled earlier this month. Some domestic spending cuts are modestly higher than previously proposed, and health care savings from overhauling the medical malpractice system would reap less than proposed earlier this month.
Unlike their original proposal, Bowles and Simpson stop short of calling for caps on medical malpractice awards. Instead they recommend changes in how awards are made.
But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.
The plan also retains a 15-cent-a-gallon increase on gasoline, a three-year freeze on federal worker pay and the elimination of 200,000 workers from the federal payroll through attrition.
The proposal obtained by the AP was a draft that was still undergoing changes Tuesday evening.
Other recommendations:
-- Eliminate congressional pet spending projects known as "earmarks."
-- Reduce the corporate income tax rate to 28 percent from 35 percent and stop taxing the overseas profits of U.S.-based multinational corporations.
-- Overhaul individual income taxes and corporate taxes, giving Congress the choice of reducing the top rate to as low as 23 percent and no higher than 29 percent. The lower the rate, the fewer the tax credits and deductions that would be available to taxpayers.
Under one scenario proposed by Bowles and Simpson, taxpayers would face three tax brackets of 12 percent, 21 percent and 28 percent. Taxpayers would still be able to claim an earned income tax credit and child tax credit as well as all standard deductions and exemptions. Capital gains and dividends would be taxed at ordinary income tax rates. Taxpayers could claim a mortgage interest deduction up to $500,000, but only on their primary residence.
If Congress does not undertake a comprehensive overhaul of the tax system by 2013, the plan calls for a "fail-safe" provision that would trigger across-the-board reductions in tax breaks, designed to raise revenue by $80 billion in 2015 and $180 billion in 2020.
Social Security cuts are part of deficit plan | cleveland.com
I am not a huge fan of increasing the retirement age under Social Security. I would rather tax all income for Social Security purposes (at present, we do not tax income above a certain level, more or less $108,000.) I would also be more interested in eliminating Social Security benefits for wealthier taxpayers than in increasing the retirement age.
What say you?
The Government can not tax people for a benefit and then deny that benefit to them when they qualify.
The easiest way to save Social Security is for the Fed to pay back all the IOU's, to cease using the tax money each year as General funds and to invest it for those that will need it. Raising the age limit is a reasonable solution if it is medically correct that the person can still work and that laws prevent companies from firing people for being a certain age.
See everyone Republicans are going to cut social security. Told you so.
They are going to try to cut both SS and Medicare, won't see them winning anytime soon if they succeed.
They’ve already made cuts to both and no one has even noticed. I work with this 60 year old he tells me his retirement age is 67. When did that happen?A new version of the plan, obtained by The Associated Press on Tuesday, makes mostly minor changes to a draft that whipped up enormous controversy when unveiled earlier this month. Some domestic spending cuts are modestly higher than previously proposed, and health care savings from overhauling the medical malpractice system would reap less than proposed earlier this month.
Unlike their original proposal, Bowles and Simpson stop short of calling for caps on medical malpractice awards. Instead they recommend changes in how awards are made.
But other proposals remain the same. Among them are a gradual increase in the Social Security retirement age to 68 by 2050 and 69 by 2075, using a less generous cost-of-living adjustment for the programs and increasing the cap on income subject to Social Security taxes.
The plan also retains a 15-cent-a-gallon increase on gasoline, a three-year freeze on federal worker pay and the elimination of 200,000 workers from the federal payroll through attrition.
The proposal obtained by the AP was a draft that was still undergoing changes Tuesday evening.
Other recommendations:
-- Eliminate congressional pet spending projects known as "earmarks."
-- Reduce the corporate income tax rate to 28 percent from 35 percent and stop taxing the overseas profits of U.S.-based multinational corporations.
-- Overhaul individual income taxes and corporate taxes, giving Congress the choice of reducing the top rate to as low as 23 percent and no higher than 29 percent. The lower the rate, the fewer the tax credits and deductions that would be available to taxpayers.
Under one scenario proposed by Bowles and Simpson, taxpayers would face three tax brackets of 12 percent, 21 percent and 28 percent. Taxpayers would still be able to claim an earned income tax credit and child tax credit as well as all standard deductions and exemptions. Capital gains and dividends would be taxed at ordinary income tax rates. Taxpayers could claim a mortgage interest deduction up to $500,000, but only on their primary residence.
If Congress does not undertake a comprehensive overhaul of the tax system by 2013, the plan calls for a "fail-safe" provision that would trigger across-the-board reductions in tax breaks, designed to raise revenue by $80 billion in 2015 and $180 billion in 2020.
Social Security cuts are part of deficit plan | cleveland.com
I am not a huge fan of increasing the retirement age under Social Security. I would rather tax all income for Social Security purposes (at present, we do not tax income above a certain level, more or less $108,000.) I would also be more interested in eliminating Social Security benefits for wealthier taxpayers than in increasing the retirement age.
What say you?
The Government can not tax people for a benefit and then deny that benefit to them when they qualify.
The easiest way to save Social Security is for the Fed to pay back all the IOU's, to cease using the tax money each year as General funds and to invest it for those that will need it. Raising the age limit is a reasonable solution if it is medically correct that the person can still work and that laws prevent companies from firing people for being a certain age.
See everyone Republicans are going to cut social security. Told you so.
They are going to try to cut both SS and Medicare, won't see them winning anytime soon if they succeed.
And the cost to seniors has gone up.
This is one way the gap between rich and poor gets bigger. People die penniless because of healthcare costs. Then they leave their kids nothing. Ripple effect. My grandmother left my parents a lot of money. Healthcare didn’t eat up her savings.
Please make America great again
Eliminate the earnings cap.
Problem solved.
They’ve already made cuts to both and no one has even noticed. I work with this 60 year old he tells me his retirement age is 67. When did that happen?Social Security cuts are part of deficit plan | cleveland.com
I am not a huge fan of increasing the retirement age under Social Security. I would rather tax all income for Social Security purposes (at present, we do not tax income above a certain level, more or less $108,000.) I would also be more interested in eliminating Social Security benefits for wealthier taxpayers than in increasing the retirement age.
What say you?
The Government can not tax people for a benefit and then deny that benefit to them when they qualify.
The easiest way to save Social Security is for the Fed to pay back all the IOU's, to cease using the tax money each year as General funds and to invest it for those that will need it. Raising the age limit is a reasonable solution if it is medically correct that the person can still work and that laws prevent companies from firing people for being a certain age.
See everyone Republicans are going to cut social security. Told you so.
They are going to try to cut both SS and Medicare, won't see them winning anytime soon if they succeed.
And the cost to seniors has gone up.
This is one way the gap between rich and poor gets bigger. People die penniless because of healthcare costs. Then they leave their kids nothing. Ripple effect. My grandmother left my parents a lot of money. Healthcare didn’t eat up her savings.
Please make America great again
Hell, they raised the retirement age in increments years ago, my full retirement age was 66 although I could draw a lesser amount at 62 and I was born in 1948. Go to ssa.gov to find your full retirement age.
Eliminate the earnings cap.
Problem solved.
I cut the whole thing.
Let people save the 15% of their lifetime income that is taken from them on their own and by the time they retire they'll be completely able to support themselves
I cut the whole thing.
Let people save the 15% of their lifetime income that is taken from them on their own and by the time they retire they'll be completely able to support themselves
True, assuming they don't piss it all away on a lot of useless shit that eventually ends up in the basement or worse, down at the curb.
Eliminate the earnings cap.
Problem solved.
to easy for our screwed up politicians.
Eliminate the earnings cap.
Problem solved.
