House repubs to target Social Security and Medicare cuts

[Hurricanelover]

Raising the cap would place a burden on the repub constituents making $160,000+. That is a non-starter for the repubs. God forbid they pay a penny more in SS tax.

That is all that party gives a shit about! Their elitist rulers. Can't dare help the old that paid into it their whole ******* life. Backstabbers.

 

[Billo_Really]

Republicans signal cuts to Social Security, Medicare with new House majority

The House GOP is itching for a fight over spending cuts — including to major entitlement programs.

news.yahoo.com

Well, here we go again. I guess there needs to be room for more tax cuts for the super wealthy.

They better not touch SS or Medicaire! I just started both and I am happy as hell being on the receiving end of my money!

 

[Hurricanelover]

Just raise the cap

Or how about raising the taxes on the ******* rich and cutting the military a few hundred billion? Our old and disabled are well worth it.

 

[Cellblock2429]

Roy is saying CUTS...

Raising the age is a CUT

/———/ Get a load of this democRATs

Fact Check: Joe Biden Has Advocated Cutting Social Security for 40 Years

“I tried with Senator Grassley back in the 1980s to freeze all government spending, including Social Security, including everything,” Biden said in 1995.

theintercept.com

 

[Cellblock2429]

They better not touch SS or Medicaire! I just started both and I am happy as hell being on the receiving end of my money!

/——-/ Read the article. it says you won’t be affected. Only those younger than 54.

 

[Aldo Raine]

It's called "compromise"
Republicans want to raise the full retirement age from 66 to 70. So what? Compromise on 68 with..
What's the proposed early retirement age? Currently its 62. Compromise on 64 with...
How about raising or removing the cap? Double the cap...problem solved.

SS is an easy fix if the DC morons worked on it. Joe would sign it.

Raising or eliminating the cap alone would be enough. The age limits could then be left alone.

 

[sartre play]

That's not true and never has been. It's all you howlers do is spew bullshit, 24/7/365.

Yes its TRUE. Do the work, look it up!

 

[sartre play]

/——-/ Read the article. it says you won’t be affected. Only those younger than 54.

Who thinks people under 54 do not deserve SOCIAL SECURITY?

 

[Aldo Raine]

Sometimes you need to actually read the link to see that the OP is lying, not McCarthy.
"Republicans don’t plan to alter benefits for current Social Security and Medicare recipients, according to Rep. Chip Roy (R-Texas).
“What we have been very clear about is, we’re not going to touch the benefits that are going to people relying on the benefits under Social Security and Medicare,” Roy said Sunday on CNN’s “State of the Union.” “But we all have to be honest about sitting at the table and figuring out how we’re going to make those work, how we’re going to deal with defense spending and how we’re going to deal with non-defense discretionary spending.”
The Republican Study Committee proposed a budget for fiscal 2023 that would gradually increase the eligibility ages for Social Security and Medicare, and change the Social Security benefit formula for people 54 and younger, while not changing it for people closer to receiving benefits."

So the Republican "plan" to save SS and Medicare includes raising the full retirement age from 66 to 70 for people 54 and younger. I don't call that a "CUT" in benefits. Just a change when they start.

My personal opinions are:
1. Medicare should stay at 65. 70 is just too old to keep working for healthcare insurance. Unless there is a carve-out for old folks for Obamacare at reduced premiums. Like the Part-D permium comes off your SS payment.
2. Social Security has two triggers. The full retirement age, currently 66, and the early retirement age, currently 62. Raising BOTH ages two years isn't a bad option. You can retire at 64 with a reduces SS pension.
3. Democrats typically opt for raising the cap on social security deductions, currently about $140,000 a year. Meaning income over $140,000 doesn't pay the social security deduction. IMHO that cap should be rasied or removed, and then the full retirement age kept where it is.

100% agreement!

 

[Cellblock2429]

Who thinks people under 54 do not deserve SOCIAL SECURITY?

/—-/ If you’re too intellectually lazy to read the article, that’s on you. I can’t spoon feed you.

 

[Billo_Really]

/——-/ Read the article. it says you won’t be affected. Only those younger than 54.

I'm still not for it. Leave entitlements alone. Tax the rich!

 

[WorldWatcher]

/—-/ If you’re too intellectually lazy to read the article, that’s on you. I can’t spoon feed you.

Interesting from someone that doesn't recognize that raising the FRA (Full Retirement Age) is actually a cut in benefits for younger workers.

Take for example two people that live until 77.

Person A born after 1960 reaches FRA age at 67, if that person draws $1,500 a month in SS that is (1500 * 12 * 10) = $180,000 to live on over those 10 years.

Person B born is prior to a grandfathered age adjustment which raises FRA to 70, if that person draws $1,500 a month in SS that is (1500 * 12 * 7) = $126,000 to live on over those seven years.

Of course raising the FRA (and early retirement ages) is a cut in benefits as the intent to to pay out less. To say it's - to paraphrase - "not a cut because benefits won't be reduced for those already receiving benefits" is setting a false limit on what cut means.

WW

 

[Lesh]

/———/ Get a load of this democRATs

Fact Check: Joe Biden Has Advocated Cutting Social Security for 40 Years

“I tried with Senator Grassley back in the 1980s to freeze all government spending, including Social Security, including everything,” Biden said in 1995.

theintercept.com

35 years ago?

 

[bripat9643]

Republicans signal cuts to Social Security, Medicare with new House majority

The House GOP is itching for a fight over spending cuts — including to major entitlement programs.

news.yahoo.com

Well, here we go again. I guess there needs to be room for more tax cuts for the super wealthy.

So no one actually said they want to cut Social Security or Medicare.

Thanks.

 

[bripat9643]

Here are recommendations to cut spending and raise revenue to start paying down the $32T Debt

• Hire another "Grace Commission" to audit and fix the Federal budget deficit (eliminate duplication)
• 
  
• B. Cut Spending: [CUT $625b a year]
  1. Cut defense to 2017 levels of $600b until the Debt is reduced, saving $150b. NO WHINING
  2. Cut foreign aid $55b (until Debt is paid we can't borrow to give money away)
  3. Cut Welfare $200b & Medicaid $200b (about half)
  4. Cut education $20b (state responsibility)
  
  US Government Defense Spending History with Charts - a www.usgovernmentspending.com briefing
  Current US Defense Spending:
  Year Military Veterans Foreign Aid Total Defense
  2017 $598.70 billion $178.00 billion $46.30 billion $823.00 billion
  2018 $631.20 billion $180.40 billion $49.00 billion $860.50 billion
  2019 $684.60 billion $202.10 billion $54.30 billion $941.00 billion
  2020 $737.90 billion $219.20 billion $53.10 billion $1.00 trillion
• 
  
• To cover the $900b budget deficit the following taxes need to be raised:
  1. Raise the top tax rate about 7% above 2016 levels +$400b
  2. Implement a new 3% Fed sales tax +$400b
  3. Implement a new transaction tax on all stocks & bonds Impose a Tax on Financial Transactions | Congressional Budget Office +$100b
  4. Implement a new remittances tax/fee on all money sent out of the US Taxing Remittances Can Build the Wall 2% of $140b is +$3b a year
• 
  
• Reform entitlements, Medicare & Social Security, currently projected to be insolvent: Medicare 2024, SS 2035

So my answer is to cut spending AND raise taxes. No other way will work.

If we're going to raise taxes by $900 billion, then why do we need to cut spending?

Your numbers are complete horseshit.

 

[Hutch Starskey]

Total howler monkey bullshit.

Uh huh.

 

[JimH52]

Uh huh.

Yes...those who are paying into SS are Entitled to receiving the money back when they need it in old age. If McCarthy screws with SS...the repubs will suffer Bigly.

 

[Cellblock2429]

35 years ago?

/----/ Yeah, forty years. Sad isn't it. Now Dementia Joe is looking to mess with how fund managers invest folks' 401K. Gotta be politically correct - screw making the most money.

Biden's ESG investment rules threaten your retirement savings

Trillion-dollar investment and retirement funds such as BlackRock should not inject their own biases into the way they invest savings without people's knowledge or consent.

www.foxbusiness.com

 

[Hutch Starskey]

Yes...those who are paying into SS are Entitled to receiving the money back when they need it in old age. If McCarthy screws with SS...the repubs will suffer Bigly.

McCarthy is already screwed. They’re ultimately going to have a showdown over this. Either he holds a vote on this and screws themselves with the voters or he’ll lose what little support he has and have to work with Dems to pass a watered down compromise agenda.

 

[JimH52]

McCarthy is already screwed. They’re ultimately going to have a showdown over this. Either he holds a vote on this and screws themselves with the voters or he’ll lose what little support he has and have to work with Dems to pass a watered down compromise agenda.

or he is thrown out with the MAGA nuts leading the charge. That is okay. I guess it was worth the six months as Speaker?