Solution to the problem financing Social Security and paying the National Debt.

[g5000]

A better way to make Social Security solvent is to raise the eligibility age to 70, and index it to 9 percent of the population going forward.

We are living decades longer than our ancestors, we should be working longer.

If we work five years longer than our ancestors, that's five more years we are paying into the system, and five years less we are drawing from it.

 

[Arizona Willie]

When has the federal government ever done anything like that?

L

========

When?

During the Vietnamese War ... we had an Income Tax Surcharge and when we were done with the war we did not have a multi-trillion dollar deficit because we paid for the war as we went.

THAT'S WHEN THE GOVERNMENT DID SOMETHING LIKE THAT.

It < has > been done and it < WORKED >.

Not so quick there professor, the Vietnam War surtax was used to pay for an ongoing war (one of those wasteful things dreamed up by the miscreants in the Federal Government I was referring to) NOT for retiring debt and secondly the conservatives in the House demanded (and got) a 10% annual reduction in discretionary spending in order for it to pass (Imagine what the today's conservatives would demand to even consider your proposal).

I'm afraid your proposal amounts to just another "give us more money" and we promise to spend it wisely this time, anybody that would buy that is a fool considering modern fiscal history in Washington. The only thing that's going to retire the national debt is a flat out default (sorry but we ain't paying you suckers back) or a back door default (i.e. the fed printing it out of existence), I for one am not going to willingly just give 'em more of MY money so they can blow it along the way to that eventuality.

======
how many stock trades do you make everyday? How much money is it gonna take out of your pocket? I'm betting zero.

 

[g5000]

how many stock trades do you make everyday? How much money is it gonna take out of your pocket? I'm betting zero.

And there it is.

"Gimme gimme gimme, and make that guy over there pay for it."

The new American motto.

 

[NightFox]

When has the federal government ever done anything like that?

L

========

When?

During the Vietnamese War ... we had an Income Tax Surcharge and when we were done with the war we did not have a multi-trillion dollar deficit because we paid for the war as we went.

THAT'S WHEN THE GOVERNMENT DID SOMETHING LIKE THAT.

It < has > been done and it < WORKED >.

Not so quick there professor, the Vietnam War surtax was used to pay for an ongoing war (one of those wasteful things dreamed up by the miscreants in the Federal Government I was referring to) NOT for retiring debt and secondly the conservatives in the House demanded (and got) a 10% annual reduction in discretionary spending in order for it to pass (Imagine what the today's conservatives would demand to even consider your proposal).

I'm afraid your proposal amounts to just another "give us more money" and we promise to spend it wisely this time, anybody that would buy that is a fool considering modern fiscal history in Washington. The only thing that's going to retire the national debt is a flat out default (sorry but we ain't paying you suckers back) or a back door default (i.e. the fed printing it out of existence), I for one am not going to willingly just give 'em more of MY money so they can blow it along the way to that eventuality.

======
how many stock trades do you make everyday? How much money is it gonna take out of your pocket? I'm betting zero.

I know how you like brag about your income and your IQ (fyi: nobody believes you, it just makes you flame bait), I don't operate that way, my finances aren't anybody else's business (especially that of a bunch of yahoos on an Internet Message Board).

If your scheme takes an additional dime out of any Americans pocket to send to Washington then it's a dime too much.

 

[Arizona Willie]

But let's pretend there are a billion stock trades a day. Just for fun.

There are 252 trading days a year.

That would have been $252 billion a year you would be sucking out of the economy, Willie.

=======
it has to be paid sometime Sunday, some way by someone.

The longer we delay the more it will cost because of all the interest we will have to pay.

 

[Rustic]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

Just quite borrowing, spending, taxing and printing... Simple

 

[ScienceRocks]

How do we do it?
1. Stay out of wars
2. End all tax cuts and loop holes for the super rich.
3. Raise taxes on the super rich
4. Try to get some of the abled bodied people back to work.

We can easily without the slightest question hold onto our infrastructure, science, r&d and educational funding. Fact...

 

[ScienceRocks]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

Just quite borrowing, spending, taxing and printing... Simple

Lol,

Clinton was spending more on infrastructure then we're today. Yet, he balanced the damn thing.

Stay out of wars,
Why not spend on our country?
Why not tax the people screwing us over?
Sure, stop printing that means no more tax cuts and wars.

This is why we need another clinton. You right wing bastards would rather turn us into Haiti! That isn't governing and you're just plain wrong to think it is.

 

[Rustic]

Just stop doing anything progressive, that is the only thing to blame for the mess we are in today.

Embrace the suck

 

[Papageorgio]

Being our troops home, cut spending 25% across the board. With all those cuts being administrative and cannot effect the quality of the service to taxpayers. Cut all services the government has no business funding i.e. Amtrak Planned Parenthood etc.

 

[BluesLegend]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

I pay the maximum required amount into SS each year fool, I doubt you do. Run along go cash your welfare check.

 

[RDD_1210]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

When you paid the Toyota dealer 30 grand for your Prius, were you not "entitled" to take it home?

I PAID for Social Security for nearly 50 years. You bet your ass I'm a hell of a lot more "entitled" to my check than you are to the cheese I pay for.

Life is so much simpler when it's all made up with your imagination, isn't it?

 

[OKTexas]

Great idea, let's give a government that has been totally irresponsible with our money trillions more. Do more of the same and expect different results, get a freaking clue already.

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If anyone needs a clue === IT'S YOU.

You have no knowledge of history at all.

During the Vietnamese War we had an Income tax surcharge and when the war was over most of the bills were paid and we did NOT HAVE a multi-trillion dollar debt.

As long as the legislation is written in such a manner as to prevent Congressthieves from " borrowing " the money to finance re-election pork this idea would work just fine.

It would bring so much money that it < might > be possible to end the Federal Income Tax after the Debt was paid down ... but that would take several years. But at least we would not have to worry about Social Security EVER AGAIN.

So you would want a constitutional amendment, because any law congress makes, it can change. If there's one thing politicians can resist is spending every penny they can get their hands on to insure their continued power. Wasn't SS supposed to be untouchable, yet they changed the law and robbed it. If you think this wouldn't happen again, you don't know history.

 

[Jarhead]

If every lib sent government $100 a month there you go problem solved. Step up and lead by example libs, we won't hold our breath for that to happen.

Does that mean you won't be claiming Social Security?

Of course he will. He "earned it".

Poor argument.

FICA is not a freebie. It is an entitlement. One who puts into FICA is entitled to get it back on a monthly basis once they reach....well.....near death.

You know I could just use the old line..."where in the constitution does it say Social Security is an Entitlement"?

it is an entitlement by definition. When FICA was founded it was written into a law as a tax on income that is "put away" for retirement for the person whom the tax was levied.
Therefore, that person is "entitled" to his/her money by law and definition.

 

[Arizona Willie]

it is an entitlement by definition. When FICA was founded it was written into a law as a tax on income that is "put away" for retirement for the person whom the tax was levied.
Therefore, that person is "entitled" to his/her money by law and definition.

========
Republicans have long had the practice of using TONE to turn a normal word into a perjorative.

The very way they SAY the word, their TONE and INFLECTION, is used to make words mean / imply something they don't.

Thus " socialism " becomes synonymous with " communism " and " evil " / " bad " / " corrupt " etc. etc.

 

[SwimExpert]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

Actually, the solution is very simple. Get rid of Social Security.

 

[hortysir]

legalize rec weed federally.
That would be better than the OPs fascism.

========
Why is it " facism " to pay a $1 fee on a stock transaction involving thousands of dollars but perfectly okay for the broker to charge you $XXX ( big bucks ) for each transaction?

A $1 tax dedicated to National Debt and SS = facism

A $20 fee to the stock broker = just fucking fine

A dollar per stock or entire purchase.

I'll ignore the typical tac&spend democratic lifestyle for a little while

 

[hortysir]

it is an entitlement by definition. When FICA was founded it was written into a law as a tax on income that is "put away" for retirement for the person whom the tax was levied.
Therefore, that person is "entitled" to his/her money by law and definition.

========
Republicans have long had the practice of using TONE to turn a normal word into a perjorative.

The very way they SAY the word, their TONE and INFLECTION, is used to make words mean / imply something they don't.

Thus " socialism " becomes synonymous with " communism " and " evil " / " bad " / " corrupt " etc. etc.

It depends on what your definition of "is" is

 

[bripat9643]

I have figured out a way to pay down the National Debt and make SS solvent FOREVER.

Every day billions of stock transactions flow through the stock exchanges in the United States.

Simply impose a 1 dollar tax on EVERY financial transaction via the stock markets and we would have billions of dollars to pay down the National Debt ( pay it off actually in pretty good time ) and completely fund Social Security. This fee would be imposed on stocks, bonds, derivatives and any other financial instruments.

And a 1 dollar tax would hardly be noticed in transactions that often involve thousands / tens of thousands as the wealthy trade paper.

You idea isn't new, and it's just as stupid as the first time it was proposed.