Raise Retirement age and cut benefits or not?

[leftwinger]

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

Then they have to adjust how payback works out I think? Currently you get back based on how much you contribute?

If payback max out at $118K.........then all you are doing is adding tax on those making more than 118K?

 

[S.J.]

Nothing is ever gonna be fixed as long as there are Democrats in Washington.

 

[Slyhunter]

The honest thing to do is cut everything except SS and put the money back in the damn box.

 

[eagle1462010]

How about we cut these type of benefits...........................

IRS to pay back-refunds to illegal immigrants who didn't pay taxes - Washington Times

IRS Commissioner John Koskinen told Congress on Wednesday that even illegal immigrants who didn’t pay taxes will be able to claim back-refunds once they get Social Security numbers under President Obama’s temporary deportation amnesty.

The revelation — which contradicts what he told Congress last week — comes as lawmakers also raised concerns Mr. Obama’s amnesty could open a window to illegal immigrants finding ways to vote, despite it being against the law.


“While we may disagree about whether your deferred action programs were lawfully created and implemented, we are confident that we can all agree that these programs cannot be permitted to impair the integrity of our elections,” Republican members of Congress from Ohio wrote in a letter to Mr. Obama Wednesday, ahead of a hearing on the issue in the House on Thursday.




Continue reading..........but under the Amnesty program we are giving tax credits to illegals.............EVEN IF THEY PAID LITTLE OR NO TAXES............

Yet here we are, trying to adjust the system to save a program for Legal Americans............

Not only that............a couple 100 Billion goes out in Tax Credits every year to Filers who pay NO INCOME TAX AT ALL..............
Why should they get a refund, when they pay NO FICA TAXES AT ALL....................

There ya go..............100's of Billions in savings.................

 

[eagle1462010]

The honest thing to do is cut everything except SS and put the money back in the damn box.

The Trust Funds started paying out more than they take in in 2010.

 

[eagle1462010]

Refundable Tax Credits

The Growth of Refundable Credits Affects the Economy and the Tax System
Credits affect the allocation of resources by favoring certain activities or goods. Credits that decline in value as income rises prompt some people to work fewer hours. However, credits that increase as earnings rise, such as the EITC at certain income levels, provide an incentive for some people to work more. The EITC also draws people into the labor force by increasing their after-tax income. On balance, the latter effect appears to dominate.

In addition, the growth of refundable tax credits has contributed to a decline in average tax rates among households in the bottom 40 percent of the income distribution. That decline is most notable for individual income tax rates, which between 2007 and 2009 became increasingly negative for low-income households (that is, on average, those households received money back from the federal government instead of owing income taxes). Most of those households, however, pay federal payroll taxes.

Refundable tax credits also affect the administration of taxes. By adding more complicated rules, more tax forms, and more computations, the credits increase the costs incurred by taxpayers in complying with the tax code and by the government in administering those laws.

 

[Rustic]

Do we touch Medicare and Social Security or not?

With Medicare, it's all about the government giving money to drug companies and rich doctors. We should gradually raise the retirement age, yes. But as far as cutting what Medicare is willing to pay, that would hurt seniors because the greedy doctors and drug companies would stop accepting Medicare. So the only viable thing there is health reform to cut the costs of healthcare paid by all so that what Medicare pays can also go down. Obamacare was supposed to work on that, but because of the toxic Washington environment they rushed out a Democrat only plan rather than working together with Republicans on the healthcare cost issue.

On Social Security, raise the retirement age, and tax benefits to more well off seniors. It's not fair, but there's no alternative. The money seniors put in to social security is gone and the current generation can't sustain the older generation at the current benefit level.

So fixing medicare is much tougher and must be done hand in hand with healthcare reform.

Bottom line: Huckabee, Christie, Bush, everybody had some good ideas. Get together with Democrats and come up with something.

We need to elect somebody who can do that because neither party will win absolute power in 2016.

Make it a opt in or opt out to start with.

That is the worst idea.

Great idea?? Your pro-choice aren't you??

 

[leftwinger]

The honest thing to do is cut everything except SS and put the money back in the damn box.

ah....yes, AlGore famous lockbox. why does everything seem so funny now?

 

[Rustic]

Social Security was fixed by Ronald Reagan in 1983,

Fixed????
That was the funniest thing I've heard all day

 

[CrusaderFrank]

Single payer with government negotiating the costs with the suppliers.

$600 toilet seat... Yeah good idea

Except we have proven time and time again that public healthcare insurance is cheaper and more efficient than private.

Now I know you are going to do disbelief, then complete denial and then the Ostrich. But them are the facts, since you either don't know those facts or choose ideology over evidence your input here is very limited and actually is really just noise.

So adults are thinking and the kids should be quite.

Really? When some wealthy foreigner gets ill and wants the best treatment in the world, what's their country of choice for medical service?

 

[JakeStarkey]

[

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

That still wouldn't close the fiscal gap............

Continue please..................given you probably read my postings to come up with it anyway........

Why did it take you so long to do so....................

You need another 50% or so to end the gap..........continue.............

The raise it to $5 million. Eagle you are being so sophomoric. The problems are easy to resolve it. They are not the end of the world.

 

[eagle1462010]

[

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

That still wouldn't close the fiscal gap............

Continue please..................given you probably read my postings to come up with it anyway........

Why did it take you so long to do so....................

You need another 50% or so to end the gap..........continue.............

The raise it to $5 million. Eagle you are being so sophomoric. The problems are easy to resolve it. They are not the end of the world.

 

[TooTall]

I wonder how many posters here are aware that incomes over 118K have no FICA deducted.

Once again, the middle class is paying a higher percentage than the wealthy but, hey, don't want to piss off the "job creators" .

FICA is deducted up until a persons income gets to 118K and any income over that is not taxed. Benefits are calculated on the amount paid in. Raising the level of income that is taxed would also raise the benefits paid out and I see no net gain.

 

[JakeStarkey]

Single payer with government negotiating the costs with the suppliers.

$600 toilet seat... Yeah good idea

Except we have proven time and time again that public healthcare insurance is cheaper and more efficient than private.

Now I know you are going to do disbelief, then complete denial and then the Ostrich. But them are the facts, since you either don't know those facts or choose ideology over evidence your input here is very limited and actually is really just noise.

So adults are thinking and the kids should be quite.

Really? When some wealthy foreigner gets ill and wants the best treatment in the world, what's their country of choice for medical service?

So you are a wealthy foreigner? Son, they can get the best care anywhere.

We are talking about good care for everyone.

 

[Ray From Cleveland]

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

Yeah, raise the retirement age.

It's funny how the people that always make that suggestion are on television or radio with nothing heavier to lift than a microphone or a book.

Do you want to see a 70 year old climb up ladders two or three stories with a bundle of roof shingles on his shoulders? Do you want to see the 70 year old laborer carrying clamps of bricks to the bricklayer? How about those guys that dump your garbage cans into the garbage truck? Think a person can do that until they are 70 years old? What about the appliance delivery guys that have to go up and down steps with refrigerators, washers and dryers?

Sure, if you sit behind a desk or have a non-labor job, working until 70 might be a good idea. But when you've been torturing your body your entire life doing manual labor, you're lucky if you can make it to 65.

 

[JakeStarkey]

[

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

That still wouldn't close the fiscal gap............

Continue please..................given you probably read my postings to come up with it anyway........

Why did it take you so long to do so....................

You need another 50% or so to end the gap..........continue.............

The raise it to $5 million. Eagle you are being so sophomoric. The problems are easy to resolve it. They are not the end of the world.

Your silliness is awesome. Mature up. We are going to take care of this. Everyone is in.

 

[leftwinger]

FICA is deducted up until a persons income gets to 118K and any income over that is not taxed. Benefits are calculated on the amount paid in. Raising the level of income that is taxed would also raise the benefits paid out and I see no net gain.

I tried two posts today to get that point across. Thank you. yes. yes. yes. "They" wont' listen to a RINO. you write well. I am envious.

 

[leftwinger]

Sure, if you sit behind a desk or have a non-labor job, working until 70 might be a good idea. But when you've been torturing your body your entire life doing manual labor, you're lucky if you can make it to 65.

Exactly right. And even the easier jobs tear you up getting back and forth in two hour commutes. Bad hips, legs. You end up sitting 14 hour days. No way they going up two story ladder with shingles.

 

[TooTall]

Stop the nonsense. Raise the retirement age to 70 and cap the tax at $1 million.

Yeah, raise the retirement age.

It's funny how the people that always make that suggestion are on television or radio with nothing heavier to lift than a microphone or a book.

Do you want to see a 70 year old climb up ladders two or three stories with a bundle of roof shingles on his shoulders? Do you want to see the 70 year old laborer carrying clamps of bricks to the bricklayer? How about those guys that dump your garbage cans into the garbage truck? Think a person can do that until they are 70 years old? What about the appliance delivery guys that have to go up and down steps with refrigerators, washers and dryers?

Sure, if you sit behind a desk or have a non-labor job, working until 70 might be a good idea. But when you've been torturing your body your entire life doing manual labor, you're lucky if you can make it to 65.

The solution is worse than the problem. Roofers and others that do manual labor and are no longer able to do their job will claim a disability and get on SSDI. Now we have a bigger problem.

 

[JakeStarkey]

FICA is deducted up until a persons income gets to 118K and any income over that is not taxed. Benefits are calculated on the amount paid in. Raising the level of income that is taxed would also raise the benefits paid out and I see no net gain.

I tried two posts today to get that point across. Thank you. yes. yes. yes. "They" wont' listen to a RINO. you write well. I am envious.

Means testing has been already mentioned, guys.