“It will be my objective to phase out Social Security." - Sen. Mike Lee says the quiet part out loud.

[Mr Natural]

Would you then allow those who earn above the current cap to receive higher payments that match their increased taxes?

No.

That would defeat the purpose of eliminating the earnings.

 

[hadit]

No.

That would defeat the purpose of eliminating the earnings.

Unacceptable.

 

[dblack]

Phase out means goes away.

I can't speak for Mike Lee - I know very little about him. But most plans to phase out Social Security involve dropping the tax for younger employees and maintaining benefits for those who've paid in all their lives. Though Dems love to misrepresent those plans. Fear mongering is fear mongering.

I did find this, which directly contradicts what you're spinning:

“In repeatedly quoting my 2010 remarks today, President Biden conveniently left out that critical detail – that even when I voiced that position, I insisted that we honor the reliance interests of those who have paid into the system,” said Lee.

https://www.abc4.com/news/politics/sen-mike-lee-claims-2010-comments-about-social-security-medicare-medicaid-taken-out-of-context/

 

[martybegan]

No.

That would defeat the purpose of eliminating the earnings.

And would destroy the original concept of social security.

 

[Contumacious]

Thats money that should be going to billionaires!

In our system WE THE PEOPLE ought to be able to keep our money and spend it the way we choose

 

[Lesh]

How did you get SS? Did you have to pay into it during your career years? His objective is to have IRA, 401Ks structured to take workers current SS tax money and invest it into their own 401K/ IRA/ Pension. Not touching anyone currently receiving SS or of age to receive it. Amazing you can't ever tell a true story!!!

What the fuck are you talking about?

The way SS is structured, if current workers don’t contribute to SS, those benefit payments have to come from the General fund.

 

[Lesh]

Social Security is a ponzi scheme

And the Republican attack on Social Security continues.

And you fuckers swore there was no attack…

 

[John Edgar Slow Horses]

I was told years and years ago, when you get paid the first thing you do is invest, then live off the rest. Even if it's £$40 or £$100 or £$1,000 per month, immediately put it into a plan/investment.

If you fail to plan, you plan to fail. Anything off the government pension wise should just be classed as a bonus.

We were taught from the beginning to put 10% of ALL earnings in the bank and then investments.

Those of us who did that did not have the perks those in the twenties had but we had far, far more by 35.

 

[martybegan]

And the Republican attack on Social Security continues.

And you fuckers swore there was no attack…

It has all the structural functionality of a Ponzi scheme, except it isn't one because it isn't illegal.

 

[Zincwarrior]

/—-/ Yes, I followed that advice, and at 73 my option trading provides a wonderful lifestyle. A small pension covers my HOA fees, and SS more than covers my living expenses.

Yes we are well aware that Boomers have been able to save large amounts of money in comparison to, well everyone else. The jobs and economies you enjoyed haven't existed for decades now.

 

[Contumacious]

And the Republican attack on Social Security continues.

And you fuckers swore there was no attack…

The Socialist Demon Rats specialize in fear mongering


"In 1981, Matagorda, Brazoria, and Galveston Counties all opted out of the Social Security program for their employees. Today, their program is very, very well-funded and there is no question about whether it’s going to be funded in" years to come.

Rick Perry says employees in three counties left Social Security for alternate savings plans and are faring very well

Promoting his book, Texas Gov. Rick Perry bemoaned a failure in Washington to confront Social Security's financial shaki

www.politifact.com

 

[Zincwarrior]

In our system WE THE PEOPLE ought to be able to keep our money and spend it the way we choose

True. However in our system We the Billionaires are the ones that get to keep the money and spend it the way they choose.

 

[my2¢]

I'm not putting any faith in Mike Lee's success on phasing out Social Security. The program took much burden away from local government in caring for the destitute elderly. The county homes, otherwise known as poor houses, were eliminated through the program. Plus going back to the greater need for families to take into their residence elderly parents to care for is something I don't see as being all that popular. Yes, there are alternative private programs. However the sense of personal responsibility sure hasn't improved over these past 90 years.

 

[Mac-7]

Yes, because all the other generations are worried the Boomers will suck everything dry.

No, reform is necessary

But not for the generation already locked in to retirement

 

[Cellblock2429]

Have you actually run the numbers to see if there is enough marginal income among the wealthy to actually make that much of a difference?

/——/ Liberal math: Soak the rich + soak them some more = all problems solved until next year.
Rinse and repeat.

 

[Cellblock2429]

Yes we are well aware that Boomers have been able to save large amounts of money in comparison to, well everyone else. The jobs and economies you enjoyed haven't existed for decades now.

/—-/ My late wife and I always lived within our means and saved. It worked through the good times (Reagan) and bad (Carter and Obama)

 

[kyzr]

I prefer them admitting they scammed people with the whole surplus fund bullshit.

Then we can have a rational discussion on the issue.

Never happen, that was long, long ago, we are where we are now.
We need to fix SS or we only get 70% of promised benefits.

 

[AzogtheDefiler]

And the Republican attack on Social Security continues.

And you fuckers swore there was no attack…

It is a Ponzi scheme. Do you not understand how it works?

 

[Cellblock2429]

The Socialist Demon Rats specialize in fear mongering


"In 1981, Matagorda, Brazoria, and Galveston Counties all opted out of the Social Security program for their employees. Today, their program is very, very well-funded and there is no question about whether it’s going to be funded in" years to come.

Rick Perry says employees in three counties left Social Security for alternate savings plans and are faring very well

Promoting his book, Texas Gov. Rick Perry bemoaned a failure in Washington to confront Social Security's financial shaki

www.politifact.com

/—-/ I’ve cited that for years.

 

[kyzr]

As usual, always easy to play with other people's money.

Stop bitching and put up a better fix for SS.
Its going to be means testing, or raising the cap, or ___________.