2020 Election

[DriveInDriveOut]

Problem is that the ignorant people don't even realize the truth about Socialism.

Ignorant people don't realize the truth about capitalism either so what's your point?

You didn't even throw in an idiotic insult like libturd. You're slipping lady.

 

[newfie]

Are you talking about the "ponzi scheme" that helped your Mom and Dad to have a better life in retirement or the parents of minor children who suddenly found themselves widowed or a family's primary bread winner who through no fault of their own found themselves unexpectedly disabled and working for an employer who simply disposed of them? Is that the "ponzi scheme" you're talking about?

No on all thosewhat else you got?

 

[newfie]

You realize the money being taking out for social security now is not enough to pay for all the baby boomers retiring.

This the Ponzi scheme

 

[newfie]

Do you know what the transition costs to move repeal Social Security and move to an all private plan would be? Conservative estimate was pegged at 2 trillion. An ALL private retirement system could serve you Xer's and millenials quite well if you contributed regularly to it and could kept your grubby little hands off it until full retirement but how many have the discipline to do so ? Damn few and you know it.
My first stock purchase was in 1978. It had a drip on it and a direct share purchase plan. I didn't work for that company. 41 years later and I've yet to draw a cent of dividends and principle from that account. That's the kind of discipline that a private retirement plan requires but how many people have it

There are penalties with early with drawls that force discipline

 

[Meat]

Under current law Federal student loans don't have to be repaid if you're permanently disabled.

So this is basically just a campaign move using veterans to make himself look good. He's not actually even doing anything for them.

I wouldn’t go as far to say he’s not doing anything for them; streamlining the process certainly can’t hurt.

However, there is a reason that approximately 40,0000 of the 50,000 eligible vets haven’t participated. Unfortunately, many of them are wards of state, and debt forgiveness really doesn’t mean anything to them.

 

[Meat]

There are penalties with early with drawls that force discipline

Most people don’t have discipline. Hence the stat that 45 percent of boomers have little or no retirement savings (what a disgrace, but I covered that in a thread some months back).

Giving people the power to invest their payroll taxes would be a total disaster.

 

[Meat]

More like forced into it. I wouldn’t pay into social security if I wasnt legally coerced to, I wouldn’t pay into Medicaid if I wasnt legally coerced to. I qualified for the hazlewood act, I didn’t accept a single dollar of it or attend college I couldn’t afford.

Not everyone is a kuk for government largess.

Would you have qualified to go to college at all? I thought you never finished high school.

 

[El Correcto]

Would you have qualified to go to college at all? I thought you never finished high school.

I’m a very stable genius, I graduated a couple months early after failing the ninth grade from attendance.

 

[DriveInDriveOut]

I wouldn’t go as far to say he’s not doing anything for them; streamlining the process certainly can’t hurt.

So, everyone who is permanently disabled qualifies for complete forgiveness of federal student loans.

But Trump thinks our veterans are too stupid to be able fill out the paperwork, so we need to waste time with legislation to make it automatic.

Mkay.

 

[bacha29]

There are penalties with early with drawls that force discipline

If you money is in CD's . But how many people are going to invest their retirement savings in CD's especially given the current interest rate environment not mention "The Chosen One's" demand for a full 1% cut in rates which would move rates back to near zero?

 

[bacha29]

my memory is fuzzy i dont remember volunteering for social security. Now that the government has exhorted my money into their ponzi scheme i will certainly sign up to try to get some of it back.

So if Social Security is not the "ponzi scheme" you referring to then just exactly what is the one you're referring to?

 

[bacha29]

You realize the money being taking out for social security now is not enough to pay for all the baby boomers retiring.

Social Security has been bringing in more money than it pays out since 1982. According to projections beginning in the next year or two SS will begin paying out more than it's bringing in but using reserves than it has built up over the past 35+ years it will be able to pay full benefits until 2035 .There are presently several proposals in Congress that will make changes to the program that are designed to make it solvent during the post 2035 decades and these are proposals that have bipartisan support.
What the numbers clearly point to is that given the surpluses that have been built up these past 35+ years and the accrued interest the boomers have by and large prepaid their SS retirement benefits.

 

[DriveInDriveOut]

There are presently several proposals in Congress that will make changes to the program that are designed to make it solvent during the post 2035 decades and these are proposals that have bipartisan support.

The proposals are to raise taxes on young people to prop up a Ponzi scheme.....

So that old people can sit on their asses. Seriously, it's a shameful socialist program.

 

[El Correcto]

Social Security has been bringing in more money than it pays out since 1982. According to projections beginning in the next year or two SS will begin paying out more than it's bringing in but using reserves than it has built up over the past 35+ years it will be able to pay full benefits until 2035 .There are presently several proposals in Congress that will make changes to the program that are designed to make it solvent during the post 2035 decades and these are proposals that have bipartisan support.
What the numbers clearly point to is that given the surpluses that have been built up these past 35+ years and the accrued interest the boomers have by and large prepaid their SS retirement benefits.

Yes friend they are going to pay us in IOU’s by borrowing on our behalf. I love socialism?

 

[bacha29]

The proposals are to raise taxes on young people to prop up a Ponzi scheme.....

So that old people can sit on their asses. Seriously, it's a shameful socialist program.

Come 2035 the YOUNGEST of the boomers will be age 70. I think the boomers by and large will have accounted for themselves rather well in this regard.

 

[DriveInDriveOut]

Come 2035 the YOUNGEST of the boomers will be age 70. I think the boomers by and large will have accounted for themselves rather well in this regard.

So are you supporting raising ss tax or not?

You made it seemed like you supported the proposals to raise taxes on young people to prop up the scheme.

 

[bacha29]

Yes friend they are going to pay us in IOU’s by borrowing on our behalf. I love socialism?

Wrong. The money has already been borrowed . In fact Bush II borrowed nearly 1.5 trillion from SS. How else was he going to pay for two wars as well as his own tax cuts ? That's right. Bush cut taxes during his time in office as well. And like Trump's cuts who benefited the most from the Bush tax cuts? Why the wealthiest of Americans of course. And whether you're young or old if you have a federal income tax liability you will continue to pay it. In fact a person on Social Security depending on their total income can pay federal income tax on as much as 85% of their Social Security benefits. I should know. Last year I paid federal income tax on 85% of my benefits. That's an unpleasant pill to swallow because being self employed I paid both the employer and employees share of FICA taxes.

 

[El Correcto]

Wrong. The money has already been borrowed . In fact Bush II borrowed nearly 1.5 trillion from SS. How else was he going to pay for two wars as well as his own tax cuts ? That's right. Bush cut taxes during his time in office as well. And like Trump's cuts who benefited the most from the Bush tax cuts? Why the wealthiest of Americans of course. And whether you're young or old if you have a federal income tax liability you will continue to pay it. In fact a person on Social Security depending on their total income can pay federal income tax on as much as 85% of their Social Security benefits. I should know. Last year I paid federal income tax on 85% of my benefits. That's an unpleasant pill to swallow because being self employed I paid both the employer and employees share of FICA taxes.

Yes friend I can’t wait to receive my IOU’s in the mail every month.

 

[bacha29]

Yes friend I can’t wait to receive my IOU’s in the mail every month.

SS currently holds nearly 3 trillion dollars worth of treasury bonds which begins to mature starting next year which will allow it to pay full benefits until 2035 How old you will be in 2035 and what the future holds for Medicare I can't say.

 

[bacha29]

So are you supporting raising ss tax or not?

You made it seemed like you supported the proposals to raise taxes on young people to prop up the scheme.

What is being discussed and repeat simply being discussed is a gradual increase in FICA from the current 15.30% which has been in place since 1990 to around 16.80% over a period of several years. So what you're talking about is the first percentage increase in nearly 25 years.