Biden RAISES Social Security Payments On Way Out

[Lesh]

It would be a great idea to pass on what you put into to your family but the govt won't allow that because it would cause the SS ponzi scheme to collapse.

It would be great if there were unicorns that shit gold.
Bottom line is that it doesn’t work that way and trying to MAKE it work that way would destroy a system that has kept hundreds of millions out of poverty in their retirement for 100 years.

You want to pass money on to your family? Invest in a 401. Nothing stops you from doing that.

And oh yeah… you having money to retire on keeps you from being a burden to THEM mz

Guess you missed that

 

[Lesh]

I sure hope all the savings Elon and Trump find are going to result in them filling up the social security lock box. Putting back the money both sides "borrowed" from the fund.

I heard yesterday that less than 5% of the military budget would fully fund social security.

If Elon and Trump cut the Department of Energy in half, eliminate the Department of Education, etc. Surely then they can fully fund social security for those of us who've been paying in.

AND, with all the extra money in the bucket, they can afford to change social security for future Americans. In the future, you are still forced to put 6% of your paycheck into Social Security, and the employer puts 6% in too, but when you die, that money is your families money. No more will people work all their lives till 61, drop dead and their family gets nothing.

Wouldn't this be a good idea?

What's going to piss me off in 8 years is if they cut my social security 20%. Then I will ask why they kept raising ss for seniors. If the program is in trouble, stop giving raises. Whatever you get, is all you are ever going to get. No cuts but no raises either. Starting NOW. But they won't do that because it won't be popular. That's why I hope the savings Elon is finding are going to fix social security and medicare.

You can hope all you want but that’s not Elmo’s goal.

 

[initforme]

Christ you are stupid. If a worker spent 20 years in the public sector( and paying into SS) and then 20 years working for the government he should get retirement benefits for BOTH.

For instance. I get a pension for working in a union for 15 years.

I also get social security. Should my SS be reduced because I also have a pension?

Hell no.

It's hard to understand why anyone would support cuts to a program that benefits average working people.

 

[LordBrownTrout]

It would be great if there were unicorns that shit gold.
Bottom line is that it doesn’t work that way and trying to MAKE it work that way would destroy a system that has kept hundreds of millions out of poverty in their retirement for 100 years.

You want to pass money on to your family? Invest in a 401. Nothing stops you from doing that.

And oh yeah… you having money to retire on keeps you from being a burden to THEM mz

Guess you missed that

No, I didn't miss that. Every penny I pay into SS should be available to myself or family whenever I retire. This has nothing to do with a 401k. Im not against SS but there should be a one time opt in or out.

 

[whitehall]

Why can't Trump take credit? The old dude never would have done it if (god forbid) he could have served another term.

 

[Lesh]

No, I didn't miss that. Every penny I pay into SS should be available to myself or family whenever I retire. This has nothing to do with a 401k. Im not against SS but there should be a one time opt in or out.

It should? Why? Because you want it?

Hell I wanted to be born rich…


Your “opt in-opt out” idea would destroy the system

 

[Cellblock2429]

He did it! Old man Sleep Joe ACTUALLY did it folks.

Now watch Trump take credit for it once the American people realize they got a raise.



Let the good times roll.

/—-/ A bigger help would be removing the tax on SS. Trump will get it done.

 

[sealybobo]

You can hope all you want but that’s not Elmo’s goal.

It may not be his goal but he does things that are popular and it doesn't sound impossible to save ss. And that would be VERY popular.

One of the reasons I don't vote GOP is I know they want to kill or cut social security. Because the program is going bankrupt. If Trump fills up the fund, that will be one more thing he has done that I like.

 

[sealybobo]

It should? Why? Because you want it?

Hell I wanted to be born rich…


Your “opt in-opt out” idea would destroy the system

Trump and Musk are looking at the status quo and fixing some things that are glaringly wrong. Let me ask you something. Why would social security go broke if someone opts out?

If I'm contributing 6% and my employer is too, then I should have 12% of my pay available to me when I retire. With interest it should be a lot of money.

So I don't know why someone else paying in or opting out should affect my deal. And I don't like not being able to go see how much I have paid in and what my payments should be when I retire. I also don't like that if I die at 59, my family gets nothing. Consider perhaps there is a better way.

And with all the savings Trump is finding, the fund should never go broke. No one should ever have to suffer a 20% cut to their benefits because the program is broke.

 

[Lesh]

It may not be his goal but he does things that are popular and it doesn't sound impossible to save ss. And that would be VERY popular.

One of the reasons I don't vote GOP is I know they want to kill or cut social security. Because the program is going bankrupt. If Trump fills up the fund, that will be one more thing he has done that I like.

It’s not their goal so it won’t be the result.

SS is not going bankrupt and Trump ain’t gonna “fill it up”

Don’t fall for the bulshit

 

[LordBrownTrout]

It should? Why? Because you want it?

Hell I wanted to be born rich…


Your “opt in-opt out” idea would destroy the system

If I put in 100k over the course of thirty years into SS, thats my money. I should be able to take it anytime I want.

 

[Lesh]

Trump and Musk are looking at the status quo and fixing some things that are glaringly wrong. Let me ask you something. Why would social security go broke if someone opts out?

If I'm contributing 6% and my employer is too, then I should have 12% of my pay available to me when I retire. With interest it should be a lot of money.

So I don't know why someone else paying in or opting out should affect my deal. And I don't like not being able to go see how much I have paid in and what my payments should be when I retire. I also don't like that if I die at 59, my family gets nothing. Consider perhaps there is a better way.

And with all the savings Trump is finding, the fund should never go broke. No one should ever have to suffer a 20% cut to their benefits because the program is broke.

The system only works because nearly everyone is on it.

And even at that there are shortfalls (which can and will be addressed)

Having people opt out only hurts the system

 

[Lesh]

If I put in 100k over the course of thirty years into SS, thats my money. I should be able to take it anytime I want.

If you put $100,000 into term life… is that your money too? Do you deserve it back if you outlive the policy?

The answer is no.

 

[WorldWatcher]

/—-/ A bigger help would be removing the tax on SS. Trump will get it done.

Social Security Benefits subject to Income tax:
Single < $25,000 = 0%
Single $25,000 - $34,000 = 50%
Single > $34,000 = 85%
Married <$32,000 = 0%
Married $32,000 - $44,000 = 50%
Married > $44,000 = 85%

Now, Income Tax collected from Social Security goes back to the Social Security Administration to fund benefits.

Exempting SS Benefits from Income Tax puts a LARGER strain in the Trust Fund do to run out in 2034. Once the Trust Fund is exhausted, benefits will be paid only by revenue meaning about a 25% reduction in benefits.
.
.
.
.
TL;DR - Exempting SS Benefits from Income Tax will result in the projected cut in benefits SOONER.

WW

 

[Mac-7]

Christ you are stupid. If a worker spent 20 years in the public sector( and paying into SS) and then 20 years working for the government he should get retirement benefits for BOTH.

For instance. I get a pension for working in a union for 15 years.

I also get social security. Should my SS be reduced because I also have a pension?

Hell no.

You should get SS only for the 20 years you paid into it

 

[Lesh]

You should get SS only for the 20 years you paid into it

And that’s what’s happening

 

[sealybobo]

The system only works because nearly everyone is on it.

And even at that there are shortfalls (which can and will be addressed)

Having people opt out only hurts the system

Then they system doesn't work.

Yes shortfalls can be addressed.

Sound like we're being scammed. Think about all of us who pay in and all of us who die before ever taking one penny out. Something's foul. Maybe Elon and Trump will expose the scam.

Guess what? They say the same thing about giving people who send their kids to private school. That it will be taking away from public schools. Tough shit. Pretend those kids just never existed. The public school system will figure it out. And how did we afford public schools before half the lottery moneys we make went to schools? I don't believe lotto goes to the schools. If it does, I bet there's a lot of fraud waste and abuse there.

Yesterday I heard USAID has thousands of workers who are paid to distribute the food we give. So is USAID like a charity? Charities only give 10% of what they get to the people who actually need it. 90% goes to the organization.

America needs this. Even if they go too far, we need this. Then we can always undo what they shouldn't have done. But I have a feeling we'll be just fine without the Department of Education. That was something maybe we needed in the mid 1900's. Now it's just a beaurocrazy.

 

[sealybobo]

Social Security Benefits subject to Income tax:
Single < $25,000 = 0%
Single $25,000 - $34,000 = 50%
Single > $34,000 = 85%
Married <$32,000 = 0%
Married $32,000 - $44,000 = 50%
Married > $44,000 = 85%

Now, Income Tax collected from Social Security goes back to the Social Security Administration to fund benefits.

Exempting SS Benefits from Income Tax puts a LARGER strain in the Trust Fund do to run out in 2034. Once the Trust Fund is exhausted, benefits will be paid only by revenue meaning about a 25% reduction in benefits.
.
.
.
.
TL;DR - Exempting SS Benefits from Income Tax will result in the projected cut in benefits SOONER.

WW

This is why now I'm a Republican. Democrats just say "it can't be done" Then Republicans come alone and do it.

 

[WorldWatcher]

Social Security Benefits subject to Income tax:
Single < $25,000 = 0%
Single $25,000 - $34,000 = 50%
Single > $34,000 = 85%
Married <$32,000 = 0%
Married $32,000 - $44,000 = 50%
Married > $44,000 = 85%

Now, Income Tax collected from Social Security goes back to the Social Security Administration to fund benefits.

Exempting SS Benefits from Income Tax puts a LARGER strain in the Trust Fund do to run out in 2034. Once the Trust Fund is exhausted, benefits will be paid only by revenue meaning about a 25% reduction in benefits.
.
.
.
.
TL;DR - Exempting SS Benefits from Income Tax will result in the projected cut in benefits SOONER.

WW

Cellblock2429

I noticed you disagreed with this post.

What do you disagree with, I'd be happy to support anything I wrote:

• Are my percentages wrong?
• Do you disagree that Income Taxes paid on SS Benefits are returned to the SS Administration (SSA) to fund current benefits?
• Do you disagree that eliminating Income Taxes on SS benefits, would reduce revenues to the SSA, that with reduced revenues payment of current benefits would drain the Trust Fund faster, accelerating the point at which mandatory cuts would occur?

What specifically do you disagree with?

WW

 

[WorldWatcher]

This is why now I'm a Republican. Democrats just say "it can't be done" Then Republicans come alone and do it.

Where did I say it "can't be done"? BTW - I'm not a DEM.

It can be done. That doesn't change the outcome from doing it.

WW