How many of you are ready to have $1,000 or more less next year?

[Wild Cobra]

As most people who work realize, for the 2011 year, Social security insurance was reduced from 6.2% to 4.2%. This has not been renewed for 2012. This means for every $5,000 we earn, we get $100 less than for this year.

Don't you love our system?

[DMX7]

I think I can survive.

[boutons_deux]

Cutting SS was just another huge Obama error, tying SS to the deficit, when it has nothing to do with the deficit. And of course as a consumerism stimulus, it was useless, as the corps and banks are still sitting and $Ts in liquidity, 25M people are un/underemployed.

[Wild Cobra]

I think I can survive.
Yes, I will too. I personally think the SS rate needs to be increased. I'm sure most others don't share my view. It is nice getting almost $2,000 net more this year under the 4.2% rate, but I can live without it too.

[scott]

Wouldn't it be "class warfare" to extend the SS rate reduction? Why should those who make under $110,000 get a bigger tax break than those who make over that amount?

[JoeChalupa]

Cutting SS was just another huge Obama error, tying SS to the deficit, when it has nothing to do with the deficit. And of course as a consumerism stimulus, it was useless, as the corps and banks are still sitting and $Ts in liquidity, 25M people are un/underemployed.

It wasn't useless to those who saw an increase in their take home pay.

[scott]

Wouldn't it be "class warfare" to extend the SS rate reduction? Why should those who make under $110,000 get a bigger tax break than those who make over that amount?

Anybody?

[coyotes_geek]

The rate cut was nothing more than a gimmick. It's time for it to go.

[Drachen]

It wasn't useless to those who saw an increase in their take home pay.

Please don't complain if your Social Security is cut, or your age raised, etc. I thought with the dismal health of Social Security (due to borrowing by both teams) that this was a colossally stupid idea.

[boutons_deux]

SS buying t-bonds is required by law, not by Dems or Repugs.

The VRWC attack on SS is nothing but an attempt to steal Human-Americans pensions.

[coyotes_geek]

SS buying t-bonds is required by law, not by Dems or Repugs.

Who do you think makes the laws?


The VRWC attack on SS is nothing but an attempt to steal Human-Americans pensions.

The attack on SS is an actuarial one, not a partisan one. SS is simply a fundamentally flawed concept that will eventually fail.

[coyotes_geek]

Predictable.

Obama to push for payroll tax cut extension (http://finance.yahoo.com/news/nh-obama-push-payroll-tax-080321684.html)

[boutons_deux]

"SS is simply a fundamentally flawed concept that will eventually fail"

You Lie

It's worked for 80 years, and will work at least for 30 more. It's easily fixed to make it indefinitely workable.

You're a dupe for the VRWC lies, or shilling for them. Wall St wants their criminal hands on those funds, pure and simple.

[coyotes_geek]

You lie. If there were an easy fix for SS, congress would have already fixed it and would be on television 24/7 bragging about what a wonderful thing they've done. Ponzi schemes fail. SS will be no different. Obama is committed to speeding up the process.

[Wild Cobra]

Hell, I say raise it to 7%.

[Drachen]

Predictable.

Obama to push for payroll tax cut extension (http://finance.yahoo.com/news/nh-obama-push-payroll-tax-080321684.html)

I wholeheartedly disagree.

[Drachen]

As most people who work realize, for the 2011 year, Social security insurance was reduced from 6.2% to 4.2%. This has not been renewed for 2012. This means for every $5,000 we earn, we get $100 less than for this year.

Don't you love our system?


He, I say raise it to 7%.

Is there a MEGA-EYE ROLL smiley?

[boutons_deux]

"If there were an easy fix for SS, congress would have already fixed it"

It's easily fixed technically:

1. Raise the rate on everybody

2. Lift the cap completely. ALL earned income subject to SS, than includes stock options as compensation. UCA has been using stock options as compensation to allow mgmt to pay 15% capital gains rather than earned income tax. Fuck that.

Politically, DC is too corrupt and paralyzed to do anything for anybody but their owners.

[coyotes_geek]

Since neither of those ideas have political support, there is no easy fix for SS and nothing to halt the program's demise.

[boutons_deux]

the 2038 date for when SS would have to drop to 80% of payouts due reduce cash inflow is easily fixed by selling some of its T-bonds. "It's The Payees'/Retirees' Money"

St Ronnie heavily cut taxes on the wealthy (himself) and raised SS.

Raising SS% now will be flubberbusted by the Repugs because they WANT SS to fail and be replaced with risky Wall St casino chips.

[DUNCANownsKOBE]

It wasn't useless to those who saw an increase in their take home pay.
That increase in take home pay really stimulated the economy!

[coyotes_geek]

the 2038 date for when SS would have to drop to 80% of payouts due reduce cash inflow is easily fixed by selling some of its T-bonds. "It's The Payees'/Retirees' Money"

St Ronnie heavily cut taxes on the wealthy (himself) and raised SS.

Raising SS% now will be flubberbusted the Repugs because they want SS to fail and be replaced with risky Wall St casino chips.

The 2038 date (which is actually 2036 per the latest SSA trustees report) includes selling off all of SS's T-bonds.

And then there's the problem of where the Treasury is going to get the $10 trillion dollars to pay off those T-bonds.

[DarkReign]

Me, Im ready.

Do it to it.

[boutons_deux]

"Treasury is going to get the $10 trillion dollars to pay off those T-bonds."

Found way more than $10T to bail out US and European financial sector, but retirees? fuck 'em. We'll default on SS's t-bonds.

They're just meaningless, worthless IOUs (CC et Friends).

[bus driver]

i am poor so what is 0-1000?

[coyotes_geek]

Good news! It looks like the democrats and republicans (http://www.cnbc.com/id/46370043/GOP_Drops_Objection_for_Extending_Payroll_Tax_Cut) are going to be able to come to an agreement on letting us continue to shortchange social security via an extension of the payroll tax cut.

Oh, and then there's this... (http://www.dailyfinance.com/2012/02/14/social-security-is-failing-even-faster-than-we-thought/)

[Winehole23]

It looks like Congress is about to assume its default position: In the face of an intractable partisan dispute over how to pay for a government initiative, don’t. If Democrats (http://www.csmonitor.com/tags/topic/U.S.+Democratic+Party) won’t cut spending, and Republicans refuse to raise anybody’s taxes, there is always the solution they both can agree upon—just borrow the money and increase the deficit.

The matter at hand is the payroll tax, of course. And after months of squabbling, it looks as if Congress is about to extend a “temporary” tax cut for another 10 months. And it will borrow $100 billion to do it. That would be OK if this was a short-term stimulus. But I don’t think it is.http://www.csmonitor.com/Business/Tax-VOX/2012/0215/Why-Congress-actually-failed-on-payroll-tax
(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)
RELATED: Why 'temporary' taxes never die: Payroll tax and 3 other examples (http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

[FuzzyLumpkins]

http://www.csmonitor.com/Business/Tax-VOX/2012/0215/Why-Congress-actually-failed-on-payroll-tax
(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

(http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)
RELATED: Why 'temporary' taxes never die: Payroll tax and 3 other examples (http://www.csmonitor.com/USA/Politics/2011/1213/Why-temporary-tax-cuts-never-die-Payroll-tax-and-3-other-examples)

The next twenty years from a fiscal standpoint are going to suck.

[Borat Sagyidev]

Good news! It looks like the democrats and republicans (http://www.cnbc.com/id/46370043/GOP_Drops_Objection_for_Extending_Payroll_Tax_Cut) are going to be able to come to an agreement on letting us continue to shortchange social security via an extension of the payroll tax cut.

Oh, and then there's this... (http://www.dailyfinance.com/2012/02/14/social-security-is-failing-even-faster-than-we-thought/)

What a disgrace

The leadership of Baby boomers. "Give it to me, it's mine".

What's the deal with baby boomers not wanting to pay for anything? Given just about everything, but never want to pay for it. Not only is this older generation insufficient, they want to make later generations take the blame for it.

If there was any integrity to these shenanigans, Social security and Medicare would be gone. Of course not many want that...but they don't want to pay much or at all for it either. Same goes for consumer products, China fills that void nicely.

[LnGrrrR]

I thought WC was against long-term social programs?

[Winehole23]

not if they can be demagogued for tribal advantage, apparently

[CosmicCowboy]

What a disgrace

The leadership of Baby boomers. "Give it to me, it's mine".

What's the deal with baby boomers not wanting to pay for anything? Given just about everything, but never want to pay for it. Not only is this older generation insufficient, they want to make later generations take the blame for it.

If there was any integrity to these shenanigans, Social security and Medicare would be gone. Of course not many want that...but they don't want to pay much or at all for it either. Same goes for consumer products, China fills that void nicely.

We started down this path long before the baby boom generation was even born. Granted, they didn't fix the problem either, but your short sighted hatred of just that generation is seriously misplaced.

[Wild Cobra]

I thought WC was against long-term social programs?
You mean Social security?

I would prefer something else. However, as I have repeated said, I don't mind taking care of the elderly and handicapped as a nation. It's the able bodied worker who could do more to earn his/her own keep I have problems with. Then on top of that, we give poor people more than they need as well. Give them less, and make them have a stronger desire to support themselves.

[DarkReign]

As most people who work realize, for the 2011 year, Social security insurance was reduced from 6.2% to 4.2%. This has not been renewed for 2012. This means for every $5,000 we earn, we get $100 less than for this year.

Don't you love our system?

Your employer never cared. They still pay/paid 6.2%.

[coyotes_geek]

Your employer never cared. They still pay/paid 6.2%.

In most cases. Obama & co have been playing with payroll taxes on that side of the fence too. Not sure if any of these are still in effect or not, but over the last couple of years there were employer-portion payroll tax cuts for small businesses and new hires.

He didn't get it, but Obama's original payroll tax cut would have cut both the employee and employer sides down to 3.1%.

[Wild Cobra]

Your employer never cared. They still pay/paid 6.2%.
LOL...

I started this before the extended the cut. It was suppose to expire.