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1. Tell me Trump, Bezos, Buffett, Gates, and the rest of the 1% need that SS check. We paid in and deserve our promised benefits.
2. Raise the retirement ages 1-year, that's 63 for benefits, and 68 for full benefits. You can retire now at 62 like I did with slightly reduced benefits.
3. Stop whining about taxes, you should be whining about the DEBT and all the interest being paid and wasted.
What I know about SS is that if it isn't "fixed" we only get 70% of promised benefits after 2034, that punishes the middle and lower income folks who depend on SS to survive.
Fuck yeah its fair. We all pay the same SS tax. Except now the 1% stops paying early. Here's a chart showing that the wealthy gained on the rest of us, so they do in fact need to pay their "fair share".Okay, but then what we're doing is placing the burden on wealthy people since non of us working stiffs ever made enough money to max out. Is that fair?
So why aren't the democrats fixing SS?????????????????????????????????????????????I hardly ever agree with you but I've been saying this for years.
The Government has been robbing social security for decades don't blame that shit on Trump. Its the biggest Ponzi scheme in history...in before "trump tax cuts robbed social security of billions!"
We finally agree on something, fixing Medicare, which will be bankrupt in 2026, so now is the time for the democrats to do something other than their show trial for the purported "insurrection", or covering for Xiden's moronic withdrawal from AFG.Once again, "Thank you President Obama", whose fiscal management through the Great Recession shored up the SS fund and ensured it's viability for another 20 years after he left office.
And since there are 13 years in which to fix the problem, let's worry about the things that need immediate attention, like Medicare/Medicaid and prescription drugs, and getting people back to work and contributing to the SS funds.
Unlike his predecessor, Joe Biden has the ability to delegate and multitask, and to handle multiple crises and multiple fronts, so I trust he'll get to this once the hurricanes, end of the Afghanistan War, 4th covid surge, and the crisis with Roe v. Wade is dealt with.
www.fool.com
thehill.com
1. No they did not pay in the same as you or I did, looking at the percent of income. The 1% need to pay their fair share since they out-gained the rest of us for decades. I'm not a liberal, but I do need SS & Medicare to survive.1. They paid in the same as you and I did. That is very liberal of you!
2. I won't likely live to 68. . It's another 18 months before I can even get disability.
3. You don't pay enough in taxes already? My taxes also pay me back through that debt! Maybe you should invest in your country.
4. In 2034, the difference will just be made up from the general fund.
I love the fact that you contradict yourself so easily and so often.1. No they did not pay in the same as you or I did, looking at the percent of income. The 1% need to pay their fair share since they out-gained the rest of us for decades. I'm not a liberal, but I do need SS & Medicare to survive.
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2. Not 68, you can get SS at 62. To fix SS remove the cap & raise the tax 0.50%. The ages can stay where they are.
3. Stop whining about taxes. An 0.50% raise in SS isn't a big deal, and it fixes SS forever.
4. In 2034 the General Fund will be paying a $trillion or so on interest on the Debt. The General Fund is BROKE. There will be heads on pikes all around DC if SS and Medicare aren't made whole.
1. If its a "fact" how about a link or two?I love the fact that you contradict yourself so easily and so often.
1. The fact is that most wealthy people never receive SS.
2. I cannot afford to live on the retirement at age 62. Why? No medical coverage until I am 65. I would pay about 3 times as much for my health insurance as I would receive in a reduced benefit.
3. Fixes SS forever?
4. Who said it wouldn't be made whole by funding it from the general fund?
www.forbes.com
Fuck yeah its fair. We all pay the same SS tax. Except now the 1% stops paying early. Here's a chart showing that the wealthy gained on the rest of us, so they do in fact need to pay their "fair share".
It's not a retirement system. It's plainly stated that the program is income security insurance ... a tax to provide a benefit so old people are not paupers. Of course, the tax is now insufficient to avoid them being paupers, and that's the subject of the thread.If they are going to put in so much more than the rest of us, wouldn't it be fair they get a much larger amount when they collect? Sounds like a zero sum gain to me.
Raise the cap and look atTotally agree. Eliminate the cap, and raise the tax 0.50% and SS is fixed forever w/o raising the retirement ages.
Why argue the point any more with you? Your mind up, based on ignorance and a total denial of reality.1. If its a "fact" how about a link or two?
2. We all had to deal with that gap between 62 and 65. If you work to 65, that's the same as now, The SS ages stay the same. Imagine getting only 76% of promised SS benefits if SS goes insolvent.
3. Yep, fixes SS forever. Read the links.
4. Have you seen the mess the Federal Budget is? You want to add another $270b a year to the Federal Budget in 2033 and beyond, just for SS? What about Medicare? Its insolvent in 2024-2026. The 2024 is due to Covid. Medicare needs $700b to survive to 2033. Where does that additional $70b a year come from? I WANT SS AND MEDICARE FIXED NOW, I DO NOT WANT TO COUNT ON FUTURE FUNDING BY PRINTING MO MONEY.
Medicare Could Be Insolvent In 2024: How To Prevent It
How did Medicare get in this bind, aside from the pandemic?
Canada has a similar problem but a longer horizon. This is why people like me despise crony capitalism. It's often just theft. Help out small to medium sized innovative companies not massive multi-billion dollar companies.
What happens if this prediction comes to fruition?
Social Security won't be able to pay full benefits by 2034, a year earlier than expected due to the pandemic | CNN Politics
Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.www.cnn.com
Washington (CNN)Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.
That's one year earlier than reported last year. By that time, the combined trust funds for Social Security will be depleted and will be able to pay only 78% in promised benefits to retirees and disabled beneficiaries.
The Covid-19 pandemic and economic recession are to blame for moving up the depletion rate by a year, driven by the big drop in employment and resulting decline in revenue from payroll taxes. The trustees also project a higher mortality rate through 2023 and a delay in births in the short term.
But it remains unclear what the long-term effects of the pandemic will be on the funds and the trustees will continue to monitor developments. Last year's report did not take into account the effects of the pandemic.
The projections for Medicare are roughly on par with last year's report.
The trust fund for Medicare Part A, which covers hospital and nursing home costs for seniors, will be depleted by 2026, the same year as reported last year. At that point the program would only be able to pay out 91% of promised benefits.
14 years ? I wont be here. COOL !Canada has a similar problem but a longer horizon. This is why people like me despise crony capitalism. It's often just theft. Help out small to medium sized innovative companies not massive multi-billion dollar companies.
What happens if this prediction comes to fruition?
Social Security won't be able to pay full benefits by 2034, a year earlier than expected due to the pandemic | CNN Politics
Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.
Washington (CNN)Social Security will have to cut benefits by 2034 if Congress does nothing to address the program's long-term funding shortfall, according to an annual report released Tuesday by the Social Security and Medicare trustees.
That's one year earlier than reported last year. By that time, the combined trust funds for Social Security will be depleted and will be able to pay only 78% in promised benefits to retirees and disabled beneficiaries.
The Covid-19 pandemic and economic recession are to blame for moving up the depletion rate by a year, driven by the big drop in employment and resulting decline in revenue from payroll taxes. The trustees also project a higher mortality rate through 2023 and a delay in births in the short term.
But it remains unclear what the long-term effects of the pandemic will be on the funds and the trustees will continue to monitor developments. Last year's report did not take into account the effects of the pandemic.
The projections for Medicare are roughly on par with last year's report.
The trust fund for Medicare Part A, which covers hospital and nursing home costs for seniors, will be depleted by 2026, the same year as reported last year. At that point the program would only be able to pay out 91% of promised benefits.
It will be easy to keep SS afloat, and it will happen.
This is all ignorant noise.
It's not a retirement system. It's plainly stated that the program is income security insurance ... a tax to provide a benefit so old people are not paupers. Of course, the tax is now insufficient to avoid them being paupers, and that's the subject of the thread.
YOu may think SS should be repealed, that wasn't in your post.
You didn't address my graph showing how the 1% did so much better than the rest of us in the past few decades. Their small contribution to SS & Medicare would bring the income classes closer to balance.If they are going to put in so much more than the rest of us, wouldn't it be fair they get a much larger amount when they collect? Sounds like a zero sum gain to me.
