McConnell Calls to Cut Social Security, Medicare
You knew they would be coming for them! The Titanic is sinking and chaos is nearer then you think! Illegals need to leave The USA Now.
https://fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers
serf
https://www.msn.com/en-us/news/politics/mitch-mcconnell-calls-to-cut-social-security-medicare/ar-BBOtGyE?ocid=spartandhp
After instituting a $1.5 trillion tax cut and signing off on a $675 billion budget for the Department of Defense, Senate Majority Leader Mitch McConnell said Tuesday that the only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.
?We're going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit,? Speaker Ryan said on a conservative radio program around the same time.
https://fairus.org/issue/publications-resources/fiscal-burden-illegal-immigration-united-states-taxpayers
serf
https://www.msn.com/en-us/news/politics/mitch-mcconnell-calls-to-cut-social-security-medicare/ar-BBOtGyE?ocid=spartandhp
After instituting a $1.5 trillion tax cut and signing off on a $675 billion budget for the Department of Defense, Senate Majority Leader Mitch McConnell said Tuesday that the only way to lower the record-high federal deficit would be to cut entitlement programs like Medicare, Medicaid and Social Security.
?We're going to have to get back next year at entitlement reform, which is how you tackle the debt and the deficit,? Speaker Ryan said on a conservative radio program around the same time.
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quote:Originally posted by serf
quote:Originally posted by Don McManus
quote:Originally posted by serf
quote:Originally posted by Don McManus
quote:Originally posted by serf
How many died before drawing a dime for Social security! No they never disclosed this information and then Congress & The Federal Reserve debased our currency in 1964 so please spare me why I should expect any less because of oil wars and mass aid giveaways with illegal immigration done by Congress.
If Congress cuts social security or Medicare there will be blood in the streets in my opinion. Now they can steal it back by the devaluation of The US dollar when they hit the reset button on a new deal with central banks however and still get away with it. This is probably the way it will go too. Politicians are nothing but thieves in my opinion.
serf
Do a little actual research, serf.
The system was designed such that most would die before collecting.
The average lifespan of the US male in 1940 was 60 years.
The system was designed to only support those who outlived their working lives and the average life expectancy. It was an insurance policy, not a retirement plan.
'They' do not have to tell us anything; we can look it up for ourselves.
Unless, of course, we are content to live as serfs.
Fine pay me off in silver dollars at 14.00 an ounce so 120000 dollars payout will be 1,680000 federal reserve dollars in today's money.
serf
You want to be paid off based upon 120,000 ounces of silver?
Not sure how this makes any sense.
I started in the social security system before 1964 when silver certificates were issued to the public. Since I started with that exchange rate I see no reason why I should not be pay off on the same scale if they wish to abolish it and pay me off.
serf
After all America is the richest nation in the world right? Oh wait our politicians stole it With LBJ money and the great society welfare system along with the Vietnam war cost overuns with Brown and Root! [:o)] War is racket !By Major General Smedley Butler
tps://www.npr.org/templates/story/story.php?storyId=1569483
After Johnson took over the Oval Office, Brown & Root won contracts for huge construction projects for the federal government. By the mid-1960s, newspaper columnists and the Republican minority in Congress began to suggest that the company's good luck was tied to its sizable contributions to Johnson's political campaign.
More questions were raised when a consortium of which Brown & Root was a part won a $380 million contract to build airports, bases, hospitals and other facilities for the U.S. Navy in South Vietnam. By 1967, the General Accounting Office had faulted the "Vietnam builders" -- as they were known -- for massive accounting lapses and allowing thefts of materials.
Yep, they borrowed an ounce of silver, I want that ounce back. And that still won't keep up with inflation.0 -
Actually Don Mcmanus based on my calculations IF I live to 89 I will draw roughly 500K in SS, based on what I put in along with my employers portion I still won't get what I would have if that same money were invested over the same period of time.
Accepting that it isn't a "retirement" account but it is a tax we are taking 12% of low income earners wages that takes away what they could use for a IRA or 401K and with the cap we are allowing larger earners to avoid this tax on all earnings over 130K.
Everyone keep saying it isn't a guarantee so we allowed the wealthy to avoid 12% tax on all earnings yet we hit the lower income earners with the tax on all of their earnings. That said when people say low income earners are not paying any tax that isn't exactly true.0 -
Dam right I'm entitled to it. I paid into it for 58 years plus. 0 -
quote:Don't forget the incredible sums of money give away to countries that hate us and the equally incredible amount of waste that happens every single day.
You mean like the pallet loads of cash Obama sent to Iran ? Yes I fully agree. Likewise with the pure waste that in fact is a payback benefit for those wealthy donors to election campaigns. Or perhaps your talking about the waste like the Mueller investigation, or should I call it the multi million dollar political witch hunt .
Lets also not forget welfare to farmers, including the corporate farmers. Look up the farm subsidies paid out in your county .Then there are the other corporations which amount to billions each year for research programs, labor subsidies, etc.. The thousand hour labor subsidy is an example that may still even exist, but at minimum has gone on for years and years past its original posted intent.
Certainly no money should go to those people who are here illegally in this country.
Going after the disabled or the workers social security on the other hand should be far from the highest priority when the corruption there amounts to peanuts in comparison to other items mentioned. Nothing the matter with working on all types of corruption but the best bang for your buck is in the highest dollar payouts, and that is not in these programs, or even the welfare programs for that matter.0 -
quote:Originally posted by mogley98
Actually Don Mcmanus based on my calculations IF I live to 89 I will draw roughly 500K in SS, based on what I put in along with my employers portion I still won't get what I would have if that same money were invested over the same period of time.
Accepting that it isn't a "retirement" account but it is a tax we are taking 12% of low income earners wages that takes away what they could use for a IRA or 401K and with the cap we are allowing larger earners to avoid this tax on all earnings over 130K.
Everyone keep saying it isn't a guarantee so we allowed the wealthy to avoid 12% tax on all earnings yet we hit the lower income earners with the tax on all of their earnings. That said when people say low income earners are not paying any tax that isn't exactly true.
Not familiar with your 'calculations', I obviously cannot comment other than most folks who undertake or pretend to undertake such exercises make assumptions at to their investment acumen that are not borne out by their own experience.
I have long advocated for the elimination of a separate FICA deduction with the replacement of it with a baseline income tax on all income. This, coupled with the treating all income (dividends and capital gains to be included) in the same manner would expand the taxable pot, reduce the burden on low wage earners, and get the Federal Government out of the business of directing where and how people invest their money, time, and labor.
Social Security was and should be an insurance policy, and there was originally and should be no expectation that one should be made whole. By legislatively turning SS into a retirement program, we have not only dramatically increased the costs of the system, but have also encouraged people to forego personally responsible investment, as the safety net will be there to protect them.
With all of your research, I assume you know that the 'funds' in the Social Security trust fund have been invested in US Treasuries, (loaned to the Federal Government) typically at an interest rate that is above that which is paid to the average purchaser of treasuries. So while the return is not as good as if one continually picked winners in the stock market, the investment is in the most secure instruments available.
This is, of course, not germane to the conversation of ROI, as ROI is not the goal of the Social Security. Social Security is just that. It is an insurance policy whereby those that earn more contribute more so that those that earn less and perhaps are not able to save for their own retirement are helped out by those who are in a better position to do so.0
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