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Social Security/Medicare Cuts

OldLady

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And the fix is so easy.

Raise or (better yet) eliminate the earnings cap.
Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
 

there4eyeM

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What would a 20% contribution from "defense" spending do to help?
 

80zephyr

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Read an article some time ago that the reason that blacks can't get ahead is because most are so poor that they leave their children with no inheritance. Wouldn't it be better if each person had a mandated retirement savings account so that the money would be theirs?

I mean, if a black working person dies at retirement age, at least he/she would leave the family something.

I'm in favor of changing it to personal accounts.

Mark
 

kyzr

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And the fix is so easy.

Raise or (better yet) eliminate the earnings cap.
Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
 

80zephyr

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And the fix is so easy.

Raise or (better yet) eliminate the earnings cap.
Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
 

kyzr

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And the fix is so easy.

Raise or (better yet) eliminate the earnings cap.
Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
You consider Bloomberg having $62b "fair"? He's only #8 on the Fortune 400. Trump is #275. That's a lot of wealth belonging to 400 people. If they pay higher "progressive" taxes I'm okay with that. Capital gains should be taxed as normal income. I support the "transaction tax" on stock, bond, derivative, and options trading to prevent high frequency traders from stealing our investments. Take a look at this chart and tell me what's "fair". How about the families whose kids are in uniform protecting their wealth, is that "fair"?
upload_2020-2-22_16-23-13.png
 

Norman

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Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
You consider Bloomberg having $62b "fair"? He's only #8 on the Fortune 400. Trump is #275. That's a lot of wealth belonging to 400 people. If they pay higher "progressive" taxes I'm okay with that. Capital gains should be taxed as normal income. I support the "transaction tax" on stock, bond, derivative, and options trading to prevent high frequency traders from stealing our investments. Take a look at this chart and tell me what's "fair". How about the families whose kids are in uniform protecting their wealth, is that "fair"?
View attachment 308204
Absolutely crazy far left ideas.

You don't need to tell us what's fair. I for one could care less what you consider fair. What matters to me is what works, and transaction taxes for sure are squarely in the "not workable" category.

Generally billionaires invest their money far better than governments. Not on moochers but getting us to space and mars, which is literally what these people are doing. Maybe not under restricted democracy where idiots don't vote, but now idiots do vote so...
 

Rocko

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Social Security/Medicare Cuts


Despite the conservatives’ constant denial, Social Security is one of the most popular social programs in U.S. history.



In poll after poll, 70 to 80 percent of Americans oppose cuts to Medicare or Social Security. That includes the majority of Republicans, Democrats, Independents, men, women . . . everyone.



But last month, the impeached president trump told the billionaire global elites in Davos that he would cut Social Security. And then he actually did it, releasing a budget that slashes more than a trillion dollars from Medicare and Social Security.



You'd think that it would have been front page news. However, since the mainstream media is corporate owned, the impeached president trump's attack on Social Security has remained an extremely low priority story to major news and conservative faux news outlets.



Are the impeached one’s devoted fanatics, especially those who rely heavily on Social Security and Medicare, going to thank him for these cuts by voting for him this November? The cuts to these programs can only continue, and will inevitably trickle down to all recipients.



Naturally, all conservatives understand it is their duty to protect the well-being of the super-rich. So elderly conservative Social Security and Medicare recipients should be happy to give up much needed income and medical necessities to do their part for the fat cats. Such sacrifices are expected of all conservatives.



Laugh about that, especially those conservatives currently dependent upon Social Security and those who will be retiring in the next few years.


"I promise, if you elect me president, I won't touch Social Security and Medicare."
View attachment 308131





.
This is nothing

Trump Calls for Social Security Cuts for the 4th Consecutive Year | The Motley Fool
 

OnePercenter

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Social Security/Medicare Cuts


Despite the conservatives’ constant denial, Social Security is one of the most popular social programs in U.S. history.



In poll after poll, 70 to 80 percent of Americans oppose cuts to Medicare or Social Security. That includes the majority of Republicans, Democrats, Independents, men, women . . . everyone.



But last month, the impeached president trump told the billionaire global elites in Davos that he would cut Social Security. And then he actually did it, releasing a budget that slashes more than a trillion dollars from Medicare and Social Security.



You'd think that it would have been front page news. However, since the mainstream media is corporate owned, the impeached president trump's attack on Social Security has remained an extremely low priority story to major news and conservative faux news outlets.



Are the impeached one’s devoted fanatics, especially those who rely heavily on Social Security and Medicare, going to thank him for these cuts by voting for him this November? The cuts to these programs can only continue, and will inevitably trickle down to all recipients.



Naturally, all conservatives understand it is their duty to protect the well-being of the super-rich. So elderly conservative Social Security and Medicare recipients should be happy to give up much needed income and medical necessities to do their part for the fat cats. Such sacrifices are expected of all conservatives.



Laugh about that, especially those conservatives currently dependent upon Social Security and those who will be retiring in the next few years.


"I promise, if you elect me president, I won't touch Social Security and Medicare."
View attachment 308131





.
There may be more, but the only Repub I ever heard say a word about Social Security/Medicare was W. Bush. But there have been a lot of Progs who have. We have had slow growth for forty years compared to the past. Generation X is half the size of the Boomers who are retiring. The millennial generation is the size of the boomers and are much more diverse with hate toward the Boomers who are more heavily white. They make less then the Boomers did at their age and are more inclined to be activists for any reason.
The boomers rode a ponzi scheme and were ready to sacrifice their country to keep it up along with the hedonist lifestyle.

"Ok, boomer"... great phrase. They are known for disastrous actions and even more disastrous advice that no one should ever listen to unless they want to end up 1 million in debt and a gender studies degree.

It seems that as long as they get their free gibs that newer generations have to pay, they are happy. To hell with the nation or anything else...
That's a lot of bullshit for one post. I also like the way you don't put up any links to support your bullshit claims.
1. Start by reading my post #15 to disabuse you of most of your lies
2. There is no hedonist lifestyle, only the Medicare and Social Security benefits we earned and paid for.
3. WTF "disastrous actions and advice" are you whining about?
4. What "free gibs" are you talking about? Democrats want to give free Medicare and free college to everyone. They better rethink that and fast.

We could finance SS and Medicare for DECADES, with the amount of money they want to spend on free healthcare for illegals, and the green new deal.

Tell us Leftists----------->who/whom are you really throwing under the bus!

And YOU people CREATED the programs, and after spending all the money in them, you ignore the investors...…...you phony-e-baloneys!
tRump should jail employers knowingly hiring illegals and cancel daddy bushes H1B program.
 

OnePercenter

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How sad it is that Americans will criticize SS, but have no problems with the extreme wealthy getting all sorts of goodies from Uncle Sam.

The wealthy elite must laugh their asses off at how duped these people are.
Yes, I am.
 

80zephyr

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Or admit that the benefits can't be paid and that it was in fact a scam.
Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
You consider Bloomberg having $62b "fair"? He's only #8 on the Fortune 400. Trump is #275. That's a lot of wealth belonging to 400 people. If they pay higher "progressive" taxes I'm okay with that. Capital gains should be taxed as normal income. I support the "transaction tax" on stock, bond, derivative, and options trading to prevent high frequency traders from stealing our investments. Take a look at this chart and tell me what's "fair". How about the families whose kids are in uniform protecting their wealth, is that "fair"?
View attachment 308204
No one was forced to buy their products or services. It is not fair to steal from someone to give to another.

Mark
 

kyzr

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Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
You consider Bloomberg having $62b "fair"? He's only #8 on the Fortune 400. Trump is #275. That's a lot of wealth belonging to 400 people. If they pay higher "progressive" taxes I'm okay with that. Capital gains should be taxed as normal income. I support the "transaction tax" on stock, bond, derivative, and options trading to prevent high frequency traders from stealing our investments. Take a look at this chart and tell me what's "fair". How about the families whose kids are in uniform protecting their wealth, is that "fair"?
View attachment 308204
Absolutely crazy far left ideas.

You don't need to tell us what's fair. I for one could care less what you consider fair. What matters to me is what works, and transaction taxes for sure are squarely in the "not workable" category.

Generally billionaires invest their money far better than governments. Not on moochers but getting us to space and mars, which is literally what these people are doing. Maybe not under restricted democracy where idiots don't vote, but now idiots do vote so...
What works is saving SS & Medicare, currently going bankrupt in 2026 and 2034 respectively.
Transaction taxes work in the EU and will work here. They are small and only deter high-frequency traders. We need to level the stock market playing field. Buy and hold is what companies need to invest and grow, like our 401Ks.
 

kyzr

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Social Security is not a scam. It needs to be "fixed" to be made whole for the long term, otherwise benefits will be cut.
Social Security needs to be "fixed" by removing the earnings cap.


The benefits can be paid, have always been paid and should always be paid. Here is the Trustees Report for 2020:
Trustees Report Summary
The Social Security program provides workers and their families with retirement, disability, and survivors insurance benefits. Workers earn these benefits by paying into the system during their working years. Over the program’s 84-year history, it has collected roughly $21.9 trillion and paid out $19.0 trillion, leaving asset reserves of $2.9 trillion at the end of 2018 in its two trust funds.
Considered separately, the DI Trust Fund reserves become depleted in 2052 and the OASI Trust Fund reserves become depleted in 2034.
Social Security fixes: Eliminating the earnings cap is a no-brainer.
https://www.fool.com/retirement/2018/05/21/how-warren-buffett-thinks-we-should-fix-social-sec.aspx
https://money.usnews.com/money/blogs/planning-to-retire/2014/11/14/5-potential-social-security-fixes
What does that mean, 'eliminating the earnings cap?'
The SS "earnings cap" for 2020 is $137,700. Which means that workers pay 6.2% of their earnings up to $137,700 but any earnings over that is not taxed the 6.2% for SS. So Mike Bloomberg and Trump and Bezos and Buffet etc. pay the same annual SS contribution as most of us. Removing the cap means they would pay 6.2% on all earnings. That would save SS for forever.
OASDI and SSI Program Rates & Limits, 2020
You consider that fair? At full retirement age, the maximum benefit is $3,011.

Mark
You consider Bloomberg having $62b "fair"? He's only #8 on the Fortune 400. Trump is #275. That's a lot of wealth belonging to 400 people. If they pay higher "progressive" taxes I'm okay with that. Capital gains should be taxed as normal income. I support the "transaction tax" on stock, bond, derivative, and options trading to prevent high frequency traders from stealing our investments. Take a look at this chart and tell me what's "fair". How about the families whose kids are in uniform protecting their wealth, is that "fair"?
View attachment 308204
No one was forced to buy their products or services. It is not fair to steal from someone to give to another.

Mark
Not sure what you mean? Taxation is not stealing. High-frequency trading is stealing.
Allowing SS & Medicare to go bankrupt is stealing, we paid for those benefits.
 

initforme

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Social security and Medicare are two of the greatest things this nation has ever done. It's not even a contest. Cutting them is political suicide and RIGHTFULLY so. Those against them are anti american.
 

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