Which party will actually pay for the new Debt, or will Social Security & Medicare go Bankrupt?

[kyzr]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. Or, just exclude the top 1% or 2% of earners like Bloomberg & Trump. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

 

[bripat9643]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

Neither one, dumass. Political parties don't pay taxes.

WTF are you hallucinating about? Who writes the tax laws?
Who wrote the last tax cuts that aren't working no matter what Manuchin says?

So what you really meant to say is that Dims will raise all our taxes.

We already knew that, dumbass.

What they will do is raise taxes on the wealthy, and perhaps tobacco users; two groups that cannot protect themselves via vote.

The wealthy have gotten themselves many tax cuts. They can buy politicians.

Given the fact they pay most of the federal income tax for the rest of us, who would you suggest get a tax break?

Someone needs to pay the bills, might should be the folks with all the money.

View attachment 329424

That is literally the moral code of a thug:

Your proposed cuts added together are about $400b. So you're about $600b short of a Balanced Budget.
Someone needs to pay the fucking bills. Who should that be?
A VAT is paid by everyone, as an example.

A VAT is a hidden tax, which is precisely thugs such as you like it.

I'm fine having the tax shown on the receipt. Call it a VAT, a sales tax, or a consumption tax. We need to raise revenue.

That's about as regressive a tax as you can get.

What tax is regressive? The income tax is not.
The Fed sales tax is fair.
Everyone needs to pay some tax to get out of the hole.

A value added tax is as regressive as you can get, The largest burden would be paid by the lower incomes, exactly the opposite of what you proposed. You need to work on your plan. It sucks so badly even you don't understand it.

WTF is wrong with sales tax? Its very simple.
I dumped the VAT because its hidden and no one knows how much tax is paid by whom.
You ok with a Fed sales tax?

Read up on the FAIR tax. It's a sales tax that resolves the issue of progressivisity.

The Fair Tax is is regressive as it gets. I suggest you learn the difference between "regressive" and "fair".

No, it isn't regressive at all. You obviously don't know a thing about it.

You don't know what regressive means of you would not be claiming it is not. Is it regressive or progressive? Tell us, since you seem to know.

I know what it means, but I also know how the FAIR tax works. That's why I don't say dumb things like your claim that it's "regressive."

 

[bripat9643]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

 

[kyzr]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

No, the problem with "means testing" is that it makes Soc Sec a program that we're not all in the same boat. If we means tested only a maximum of 10% or so of us would lose the benefit. In theory, that should be popular. But it isn't. Americans generally don't want to cut the heads off the rich. One of the reasons I'm glad to be American.

Why not RAISE the earnings limit to the top 1%? Tell me that Bloomberg and his $68b need a monthly SS check.

 

[Admiral Rockwell Tory]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

Neither one, dumass. Political parties don't pay taxes.

WTF are you hallucinating about? Who writes the tax laws?
Who wrote the last tax cuts that aren't working no matter what Manuchin says?

So what you really meant to say is that Dims will raise all our taxes.

We already knew that, dumbass.

What they will do is raise taxes on the wealthy, and perhaps tobacco users; two groups that cannot protect themselves via vote.

The wealthy have gotten themselves many tax cuts. They can buy politicians.

Given the fact they pay most of the federal income tax for the rest of us, who would you suggest get a tax break?

Someone needs to pay the bills, might should be the folks with all the money.

View attachment 329424

That is literally the moral code of a thug:

Your proposed cuts added together are about $400b. So you're about $600b short of a Balanced Budget.
Someone needs to pay the fucking bills. Who should that be?
A VAT is paid by everyone, as an example.

A VAT is a hidden tax, which is precisely thugs such as you like it.

I'm fine having the tax shown on the receipt. Call it a VAT, a sales tax, or a consumption tax. We need to raise revenue.

That's about as regressive a tax as you can get.

What tax is regressive? The income tax is not.
The Fed sales tax is fair.
Everyone needs to pay some tax to get out of the hole.

A value added tax is as regressive as you can get, The largest burden would be paid by the lower incomes, exactly the opposite of what you proposed. You need to work on your plan. It sucks so badly even you don't understand it.

WTF is wrong with sales tax? Its very simple.
I dumped the VAT because its hidden and no one knows how much tax is paid by whom.
You ok with a Fed sales tax?

Read up on the FAIR tax. It's a sales tax that resolves the issue of progressivisity.

The Fair Tax is is regressive as it gets. I suggest you learn the difference between "regressive" and "fair".

No, it isn't regressive at all. You obviously don't know a thing about it.

You don't know what regressive means of you would not be claiming it is not. Is it regressive or progressive? Tell us, since you seem to know.

I know what it means, but I also know how the FAIR tax works. That's why I don't say dumb things like your claim that it's "regressive."

Still haven't figured it out? What's the matter dumbass? Afraid of my handing your ass to you?

 

[kyzr]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

 

[easyt65]

SOCIALISM RISING
Pelosi floats guaranteed minimum income as part of coronavirus response

Pelosi and Democrats are doing their best to adhere to the liberal adage of 'Never let a crisis go to waste' by attempting to expand the size and power of government, bring back new and improved 'economic slavery', and add as much new deficit debt as humanly possible before Trump leaves office so they can blame HIM for all of THEIR added debt / actions.....

And she has proven sure as hell she and Democrats will never admit / claim to having anything to do with it....


Since the Federal Government does not GENERATE Revenue / Mae any money - as all the money government spends is that which they have seized from American citizens ...or added to the deficit .... where does Pelosi plan to get all this money for this Socialist Program?

 

[Andylusion]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

No, the problem with "means testing" is that it makes Soc Sec a program that we're not all in the same boat. If we means tested only a maximum of 10% or so of us would lose the benefit. In theory, that should be popular. But it isn't. Americans generally don't want to cut the heads off the rich. One of the reasons I'm glad to be American.

Well that's a bit what I was getting at.

I don't think it would only be 10% or so. It depends on how the means testing was implemented, but it would almost by definition have to be more than 10%. It would have to be a pretty significant portion.

And reason why is because means testing is inherently easy to avoid. So the standards would have to be pretty tough.

Let me give you my example. So years ago I was a contractor for retirement homes. And I would go to a normal private retirement home, and people had normal stuff with them, and such.

But then I would go to Medicaid retirement homes, and I was constantly amazed by finding Cadillac SUVs, and sports cars, and such, and most were extremely new. And I was constantly amazed by this, since logically you would think the reverse would be true.

You would think the people who have the money for a private retirement home, would have money for a new car. And the people who are so poor that they lived off government Medicaid, would be too poor to buy a car. But the exact opposite was the case.

So years after I left that job, I found out why that was the case. Medicaid has means testing. Part of that means testing, was that everyone on Medicaid was allowed to have one vehicle of any value, as their own personal transportation. (I do not know if this has changed since then. This was 15 years ago)

So in order to be able to qualify for Medicaid, they had to get rid of all their wealth. But they were allowed to have a car. Thus, even people who were no longer physical able to drive, would sell their home, and all their possessions, and buy the most expensive car they could possibly buy.

Then when they died, the car would be passed onto their families. You buy a $100,000 Cadillac, live off the government Medicaid, and when you pass away, the $100,000 car goes to your kids.

Now my point in all that is this.... means testing is going to have people that will find a way around it. People will change how they live, to make sure they still qualify for Social Security.

And rich people have hundreds of ways to do this. They can offshore their wealth. They can put their wealth in a blind trust they don't own. There are many things they can do.

I remember reading about a super wealthy Danish man. Denmark is always held up as a standard of equality. Well this wealthy Danish guy, had a private resort in France, and had a luxury penthouse in London, and something I can't remember in Australia. So in Denmark, he looked like modest wages on paper.... but then he had hundreds of millions outside the country.

So it very much depends on how they implement means-testing. I'm guessing it would have to be pretty hard line, to avoid people just getting around it.

 

[Andylusion]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

But dude... you are the pig man. This is what you people don't grasp.

You are the pig. You are the one who is going to squeal.

Again, name one country anywhere, that has the rich paying for the poor? No such country exists.

It's the poor and middle class that pay tax. You the pig. That's you buddy! When you say "Someone has to pay for this, let the pigs squeal!".... that's you! You are the one who is going to pay the tax.

Why do you think Denmark has a 200% tax on cars? Who do you think paid that tax? The lower and middle class. You. Those like you in Denmark paid that tax.
Why do you think Germany has a 19% sales tax? Who do you think is paying that? You! Those like you! The lower and middle class!

There is not one single country in this world, where the rich pay for the poor. Not one.

You want Social Security and Medicare? fine... but just realize, that's your taxes that are going to go up. You are the one who is going to squeal. You are the one who is going to pay $8/gallon of gas.... that's how much the price of a gasoline in the UK was. (likely lower now given the crash of oil prices).

Why were Brits paying $8 in gas? Taxes. To pay for health care and pensions.

You the pig. You are.

 

[bendog]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

No, the problem with "means testing" is that it makes Soc Sec a program that we're not all in the same boat. If we means tested only a maximum of 10% or so of us would lose the benefit. In theory, that should be popular. But it isn't. Americans generally don't want to cut the heads off the rich. One of the reasons I'm glad to be American.

Why not RAISE the earnings limit to the top 1%? Tell me that Bloomberg and his $68b need a monthly SS check.

Oh, I think we should eliminate the cap altogether. But we should not change soc sec to welfare and from a entitlement program that applies to all workers with the aim to set a minimum level of financial support in old age (and for families of workers who are hurt or killed before retirement age) It's "income security."

And some workers cannot work to full retirement age, and some cannot quality for disability benefits. There's no shame in that. And whatever we do we should address that.

And whatever we do, two things will happen. Upper earners will pay more, and people with nothing but their soc sec benefit will still have a tough time getting by.

 

[CarlinAnnArbor]

Well, we know Cuomo did his best to make that happen.

Maybe they are just hoping Covid will take care of the problem.

 

[bendog]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

But dude... you are the pig man. This is what you people don't grasp.

You are the pig. You are the one who is going to squeal.

Again, name one country anywhere, that has the rich paying for the poor? No such country exists.

It's the poor and middle class that pay tax. You the pig. That's you buddy! When you say "Someone has to pay for this, let the pigs squeal!".... that's you! You are the one who is going to pay the tax.

Why do you think Denmark has a 200% tax on cars? Who do you think paid that tax? The lower and middle class. You. Those like you in Denmark paid that tax.
Why do you think Germany has a 19% sales tax? Who do you think is paying that? You! Those like you! The lower and middle class!

There is not one single country in this world, where the rich pay for the poor. Not one.

You want Social Security and Medicare? fine... but just realize, that's your taxes that are going to go up. You are the one who is going to squeal. You are the one who is going to pay $8/gallon of gas.... that's how much the price of a gasoline in the UK was. (likely lower now given the crash of oil prices).

Why were Brits paying $8 in gas? Taxes. To pay for health care and pensions.

You the pig. You are.

Kyzr is not a pig. The point is we all pay in, and we all take out. What is true is some of us pay in more. And I absolutely take into account possible means testing when I make retirement plans.

I'm not entirely happy with Obama expanding Medicaid, either. LOL

 

[berg80]

Watch for a shift in the narrative.

We all remember how Repubs were all about fending off a recession while Dubya was still prez. They helped pass TARP, which authorized $700B for the purchased of distressed assets to prop up the financial system. They also helped pass what was essentially phase 1 of the auto company bailout. Bush...

www.usmessageboard.com

 

[kyzr]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

But dude... you are the pig man. This is what you people don't grasp.

You are the pig. You are the one who is going to squeal.

Again, name one country anywhere, that has the rich paying for the poor? No such country exists.

It's the poor and middle class that pay tax. You the pig. That's you buddy! When you say "Someone has to pay for this, let the pigs squeal!".... that's you! You are the one who is going to pay the tax.

Why do you think Denmark has a 200% tax on cars? Who do you think paid that tax? The lower and middle class. You. Those like you in Denmark paid that tax.
Why do you think Germany has a 19% sales tax? Who do you think is paying that? You! Those like you! The lower and middle class!

There is not one single country in this world, where the rich pay for the poor. Not one.

You want Social Security and Medicare? fine... but just realize, that's your taxes that are going to go up. You are the one who is going to squeal. You are the one who is going to pay $8/gallon of gas.... that's how much the price of a gasoline in the UK was. (likely lower now given the crash of oil prices).

Why were Brits paying $8 in gas? Taxes. To pay for health care and pensions.

You the pig. You are.

Take a look at these two graphs and tell me who is squealing. Its not the rich paying for the poor, its paying fair taxes. :

You can squeal all you want, but the tax man cometh. Bills need to be paid and the top US incomes need to pony up.

 

[berg80]

I'm not entirely happy with Obama expanding Medicaid, either.

Unconcern for the uninsured?

 

[Andylusion]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

But dude... you are the pig man. This is what you people don't grasp.

You are the pig. You are the one who is going to squeal.

Again, name one country anywhere, that has the rich paying for the poor? No such country exists.

It's the poor and middle class that pay tax. You the pig. That's you buddy! When you say "Someone has to pay for this, let the pigs squeal!".... that's you! You are the one who is going to pay the tax.

Why do you think Denmark has a 200% tax on cars? Who do you think paid that tax? The lower and middle class. You. Those like you in Denmark paid that tax.
Why do you think Germany has a 19% sales tax? Who do you think is paying that? You! Those like you! The lower and middle class!

There is not one single country in this world, where the rich pay for the poor. Not one.

You want Social Security and Medicare? fine... but just realize, that's your taxes that are going to go up. You are the one who is going to squeal. You are the one who is going to pay $8/gallon of gas.... that's how much the price of a gasoline in the UK was. (likely lower now given the crash of oil prices).

Why were Brits paying $8 in gas? Taxes. To pay for health care and pensions.

You the pig. You are.

Kyzr is not a pig. The point is we all pay in, and we all take out. What is true is some of us pay in more. And I absolutely take into account possible means testing when I make retirement plans.

I'm not entirely happy with Obama expanding Medicaid, either. LOL

Well when he says "Squeal pig", that implies that other people are going to face the tax hike. No, the taxes are going to be levied on the lower and middle class the most.

That's the way it has played out around the world, and there is no logical reason to think we'd be any different.

Every country has attempted to make the rich pay for it. It's never worked. Thus the poor and middle class have to pay for it.

That's how it's going to work. If you want Social Security and Medicare as it is now... then just get yourself ready for a massive increase in taxes, and an economic decline.

Of course my guess is that you likely won't be here to see it, but rather your children or their children will be the ones screwed over.

 

[Ray From Cleveland]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

You are implying that it is even possible to "pay for it".

With or without Covid-19, with or without the economic down turn, whether Democrats or Republicans are in office....

You can't pay for socialism. It never works. Never. Not one time in all human history, has taking from group A, to pay for group B, worked.

If Social Security and Medicare were possible to have working, then we would never have the concept of a Ponzi scheme, because both of those are ponzi schemes.

In the end, my guess is that health care in the US will end up run by the government, and thus will end up declining in quality to meet the ability of the government to pay.

Social Security will equally need to be cut to the ability of the government to pay. The way they will do this, is by cutting the retirement age, meaning raise the retirement age to 75 or something.

Now there are a few alternatives that the nation could go down, that will be absolutely devastating.

One is a drastic increase in taxes, which will cause capital flight and economic decline. That would be much like what we saw in Greece.

The other option is that government just keeps spending, until they destroy themselves. Again, much like Greece.

Given the recent rise of incompetence, like AOC who is exceedingly popular, even after saying things as utterly mindless as she's going to "spend" the money from a tax cut on schools and health care.....

I see the Greece result as more and more a real possibility.

There is no way to "pay" for Social Security and Medicare/Medicaid. These programs, were never, and are not, sustainable. We have only been able to out-grow our spending thus far, but that can't continue forever.

You want 75 year-old truck drivers on the road? You want 75 year-old roofers working on your house? You want a 75 year-old nurse assisting your doctor?

You really have not thought this through, have you?

What I want, doesn't matter. What you want, doesn't matter either.

Facts don't care what either of us think. Math doesn't care what we want.

Do you want to be this guy in Greece, with no money, living in poverty, because the government simply does not have any money?

Because that's our future if we keep pushing Social Security. There is zero difference between how Social Security works, and how the Greek Pension system worked.

If you keep doing the same thing, you'll get the same result.

You talk about math and don't provide any. Here are several real SS "fixes". Show me where they are wrong.
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
https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

So let's use your links for example.

Finally, gradually raising the full retirement age to 68 would take care of 16% of the funding gap.

Right, I said openly that we would have to raise the retirement age.

Raising the Social Security payroll tax rate from 6.2% to 7.2% over a 20-year period would generate 52% of the shortfall.

Again, Germany has an 18% pension tax, and they are saying they need to increase it. So if 18% now in Germany isn't enough, why do you think 7.2% would be enough?

Eliminating the taxable earnings cap over a 10-year period would fix 74% of the long-term financing gap all by itself.

No, I don't think so. All you have to do is look at the 1970s. In the 1970s, we have a 70% rate on the top marginal income tax rates.

Did we have endless amounts of money for everything we wanted? Or did we have deficits? We had deficits. So if 70% tax rates didn't fix anything the 1970s, would would this fix social security?

Again.... if any of those proposals could work.... why hasn't any country anywhere in the world today, done all those things and had it work?

All those things can help.... Sure you delay the crash with all those things. Certainly. But it does not fix anything. We know that because as I said, Germany has a much higher pension tax, and they still need to raise the tax rate. Germany has a lower pension payout, and they still need more taxes.

You can't show me a single country, that doesn't have a pension crisis, unless they don't have a pension system.

For example, Singapore does not have a pension crisis. And the reason why is very simple. Singapore has a private system. People pay into a private account, that is invested in their own assets, that they own in their private account.

It's impossible to have a crisis, because people get out of their retirement account, what they paid into their retirement account.

That's also pretty good, because the government can't take it away by arbitrarily increasing the retirement age, thus denying you the money you paid into retirement.

Now I will say that Means-testing could in theory work.

But you'll never get that passed. Guaranteed. Because the moment you pass means testing, you blow apart the entire mythology that Social Security is a retirement system you pay-in and pay-out of.

The moment you tell people "Yes you paid into Social Security your entire life, but you have too much wealth, so you don't get anything from it".... you will have massive revolt across the country. No politician of either party will survive trying to implement means testing.

Ok, so I think we agree that SS is fixable and is NOT a ponzi scheme.
1. We agree on raising the full retirement age 1-year from 67 to 68 is not a big deal and gets 16% of the problem.
2. Raising the SS tax rate from 6.2% to 7.2% gets 52% of the shortfall, so that's 68% of the needed fix, no biggie.
3. Eliminate the earnings cap over 10-years gains 74%, so we're at 142% of the fix. QED SS Fixed.

The actuaries proved BY MATH that SS is fixable without much controversy or pain, so why don't the DC coxuckers fix it already!!

Only a moron would claim that increased taxes are not "pain."

Let the pigs squeal, SS needs to be fixed.

But dude... you are the pig man. This is what you people don't grasp.

You are the pig. You are the one who is going to squeal.

Again, name one country anywhere, that has the rich paying for the poor? No such country exists.

It's the poor and middle class that pay tax. You the pig. That's you buddy! When you say "Someone has to pay for this, let the pigs squeal!".... that's you! You are the one who is going to pay the tax.

Why do you think Denmark has a 200% tax on cars? Who do you think paid that tax? The lower and middle class. You. Those like you in Denmark paid that tax.
Why do you think Germany has a 19% sales tax? Who do you think is paying that? You! Those like you! The lower and middle class!

There is not one single country in this world, where the rich pay for the poor. Not one.

You want Social Security and Medicare? fine... but just realize, that's your taxes that are going to go up. You are the one who is going to squeal. You are the one who is going to pay $8/gallon of gas.... that's how much the price of a gasoline in the UK was. (likely lower now given the crash of oil prices).

Why were Brits paying $8 in gas? Taxes. To pay for health care and pensions.

You the pig. You are.

Take a look at these two graphs and tell me who is squealing. Its not the rich paying for the poor, its paying fair taxes. :
View attachment 329711

View attachment 329712

You can squeal all you want, but the tax man cometh. Bills need to be paid and the top US incomes need to pony up.

The top 10% of earners in our country pay 70% of all collected income taxes. They are not ponying up??? And if not, how much should the top 10% be paying of total collected income taxes?

 

[berg80]

Which party will raise taxes to save SS & Medicare for future generations?

Given that Trump, by way of his mismanagement of the government response to COVID, is responsible for the degree of the spread and severity of the economic impact, Repubs should pay a political price for electing and supporting a moron.

 

[Ray From Cleveland]

I'm not entirely happy with Obama expanding Medicaid, either.

Unconcern for the uninsured?

How concerned were you when Commie Care cost millions their employer sponsored healthcare coverage?

 

[bripat9643]

The COVID-19 pandemic borrowing will make SS & Medicare less solvent.
Which party will raise taxes to save SS & Medicare for future generations?

The Future of America’s Entitlements: What You Need to Know About the Medicare and Social Security Trustees Reports - AAF

The Social Security and Medicare Trustees issued their annual reports detailing the financial state of America’s two largest entitlement programs.

www.americanactionforum.org

• Medicare’s Annual Cash Shortfall in 2019 was $396 billion;
• Payroll taxes would have to increase more than 15 percent to pay for Medicare Part A in 2019; and
• Over the next 75 years, Social Security will owe $16.8 trillion more than it is projected to take in.

Neither one, dumass. Political parties don't pay taxes.

WTF are you hallucinating about? Who writes the tax laws?
Who wrote the last tax cuts that aren't working no matter what Manuchin says?

So what you really meant to say is that Dims will raise all our taxes.

We already knew that, dumbass.

What they will do is raise taxes on the wealthy, and perhaps tobacco users; two groups that cannot protect themselves via vote.

The wealthy have gotten themselves many tax cuts. They can buy politicians.

Given the fact they pay most of the federal income tax for the rest of us, who would you suggest get a tax break?

Someone needs to pay the bills, might should be the folks with all the money.

View attachment 329424

That is literally the moral code of a thug:

Your proposed cuts added together are about $400b. So you're about $600b short of a Balanced Budget.
Someone needs to pay the fucking bills. Who should that be?
A VAT is paid by everyone, as an example.

A VAT is a hidden tax, which is precisely thugs such as you like it.

I'm fine having the tax shown on the receipt. Call it a VAT, a sales tax, or a consumption tax. We need to raise revenue.

That's about as regressive a tax as you can get.

What tax is regressive? The income tax is not.
The Fed sales tax is fair.
Everyone needs to pay some tax to get out of the hole.

A value added tax is as regressive as you can get, The largest burden would be paid by the lower incomes, exactly the opposite of what you proposed. You need to work on your plan. It sucks so badly even you don't understand it.

WTF is wrong with sales tax? Its very simple.
I dumped the VAT because its hidden and no one knows how much tax is paid by whom.
You ok with a Fed sales tax?

Read up on the FAIR tax. It's a sales tax that resolves the issue of progressivisity.

The Fair Tax is is regressive as it gets. I suggest you learn the difference between "regressive" and "fair".

No, it isn't regressive at all. You obviously don't know a thing about it.

You don't know what regressive means of you would not be claiming it is not. Is it regressive or progressive? Tell us, since you seem to know.

I know what it means, but I also know how the FAIR tax works. That's why I don't say dumb things like your claim that it's "regressive."

Still haven't figured it out? What's the matter dumbass? Afraid of my handing your ass to you?

I figured it out long ago: you're a dumbass.