You lost me. Please explain.
If you mean taxing the 6.2% (12.4% total) up to $1M, that won't really help. The extra money from even completely removing such caps would generate very little more. These ideas come from angry poor people who are jealous of people who have made the American dream happen. Very few people make enough income to stop paying SS tax. Of the 5% or less that do, most of them don't make much SS taxable income above the current cap. The current cap is at $102,000. How many individuals will make more than this, as SS taxable income, for 2008?
Please show me some numbers.
The only proper fix for SS would be to both mean test the payouts, and increase the SS tax. I am one to start by doubling the SS tax and reducing income tax. I would then rename it a "social tax" that everyone pays an equal percentage to. Yes, it would be regressive. I see taxing the poor the only way to make them think come voting time if they want candidates and policies that will affect their tax rates. As it stands, about 47% of the wage earners pay no federal taxes because they get it all back at the end of they year. Their pet politicians who promise more services do not affect their net income, therefore, they are willing to steal my money! When social programs are reduced, the tax rate is reduced. This type of limited government can only occur when a majority of the people want it to happen. As it stands now, with 47% paying no tax and another 20% being generous with the public funds, America is doomed without serious reform. We will likely implode before SS runs out of meney.
Pssst. That coke you just drank? It probably took a truck to get it to the store so you could walk down there and buy it.
You're using a ton of gas because our entire economic infrastructure is built on the (shaky) premise of an uninterruptable supply of oil.
Amero to the rescue!
So how much of the SS trust fund is "real" and how much is made up of IOUs? And what about our unfunded Medicare and Medicaid liabilities? I always thought the Medi's will be what breaks us.
The website at the bottome says that unfunded SS liabilities amount to $7 trillion and unfunded Medicare/aid liabilities amount to $50 trillion, and they link to this from the US Comptroller General last summer:
http://business.timesonline.co.uk/to...cle2120735.ece
This month Mr Walker described the US as suffering from a “fiscal cancer'” because of the massive long-term healthcare liabilities that the nation faces. The financial burden caused by healthcare en lements has increased from about $20 trillion to $50 trillion over the past six years, representing a $440,000 bill for every American household, he explained. He also added that in 2005 and 2006, Americans spent more money than they took home, the first such pattern since 1933.
America's total debt report
http://mwhodges.home.att.net/nat-debt/debt-nat-a.htm
Lots to chew on there.
You know what you idiot? The south gave an abundance of lives in WW2 moreso than anyother region to combat nazism. W/o the south, Mexico would have owned Utah and Texas to Cali, because the North had all the sissy industrial rich sons.
Poverty says alot about divorce rates. Divorce rates have nothing to do with infidelity or cheating automatically. So to say that a couple divorced, thus there was infidilelity is pretty idiotic.
I don't give a about the north. The rich white lilly pristine north with lower percentage of blacks, who are just as racist and su ous of them as the south are pretty hippocritical.
You see , if the north is so wonderful, why are all of you moving over here?
Why?
It's because you love that southern that's why. Now go shove your replica liberty bell up your greasy guido ass!
Go smoke a doobie.
There will be no amero.
Can I quote you on that?
Oh wait....
And clearly the solution to all this is to ignore the problem and elect Obama, who wants to come over the top of that with a couple hundred billion a year in universal health care
I don't hear you ing about the 9-12 billion a month being spent in Iraq alone...And clearly the solution to all this is to ignore the problem and elect Obama, who wants to come over the top of that with a couple hundred billion a year in universal health care
I'm talking about 15-20 years from now because...
...the dollar will be toast in the years to come. Devaluing the dollar will be the only way to pay for all of our obligations without large tax increases.
If in the 2020s gas costs $8 a gallon, and everything at the grocery store has doubled in price from today, while the average income has only gone up, say, 25-40% from today, then nobody will give a damn what their dollars are called, US or NA.
Anyway,the same people who run the Federal Reserve would run a Bank of North America, with a few elite Canadian and Mexican bankers thrown in the mix.
You're not an economist, nor could you predict the economic future. Instead of preaching gloom and Alex jones doom, present solutions.
Voting for obama wont strengthen the dollar.
no president will.
Like everybody else, I'm just saying what I think will happen. How are we going to pay for these huge and growing obligations without really sinking the dollar or taxing the out of everybody? You asked for a possible solution, but I already mentioned it. And you can call it Alex Jones doom and gloom if you want, or you can call it US Comptroller General doom and gloom. I only linked to a statement from one of them in this thread.
Well we agree on that.Voting for obama wont strengthen the dollar.
no president will.
I don't feel like searching for it, I've already said we need to bring our troops home. It doesn't matter if we stay five more years or fifty, the day after we leave all 's going to break loose there.
The sooner we bring our boys home and out of the line of fire, the better (and cheaper).
Bull-puckey.
I would be willing to bet a good six figures on the fact that there will not be an "Amero" in 15-20 years.
Gas in the 2020's will cost waaay more than $8 per gallon. I would project at least $16/gallon if not more as of 2020. Americans are in for a shock in that regard, but there will still be no North American common currency.
Conspiracy dorks predicting this have been predicting this since the early 1990's. When it doesn't happen they always push back the dates, like cheap fortune tellers backpedaling when their predictions don't come out right.
First it was going to happen in 2000, then 2008, then 2012.
I have a standing bet with one conspiracy guy about 2012, we'll see if he pony's up in 3.5 years.
Americans are extremely sensitive to and paranoid about any change in their currency.
They won't even give up a $1 bill and $5 paper bill for much more practical $1 and $5 coins.
Replace US$ with Amero? Never. The US$ used as currency elsewhere, is more probable.
You'd bet six figures against a single North American currency by the end of the 2020's but you think gas will cost >16$ per gallon by then? If you really believe the second part then that's pretty bold, IMO.
I actually haven't read many predictions about a NA currency coming anytime soon, other than on blogs, message board comments and such. I've heard many - probably from people that are like the guy you have the bet with. I have read articles from the think tanks about how we need, or they would like to see, an NA currency by a particluar date. And yes, some of them have been disappointed for about 8 years now.
I go off of the not uncommon opinion that the dollar is in very deep trouble in the long term, articles from academics, think tanks, the CFR and so on, statements from Vicente Fox and the former head of the Bank of Canada, who said about a year ago that a single NA currency would be a good thing. You now have to pay for the Canadian article that I saw back then, but here's this one.
http://www.coinbooks.org/esylum_v10n21a20.html
"Dodge's comments add to a growing list of comments from Canadian
economists, academics and government officials supporting the
idea of creating the amero as a North American common currency.
"Dodge argued a common North American currency would help buffer
the adverse effects of exchange rate fluctuations between the
Canadian dollar and the U.S. dollar.
Dodge has said that he does not see an Amero, but the dollarization of the continent. I agree completely; that way Americans aren't giving up our currency at all; we're expanding it. How easy would that be to sell to the public? Later it could be changed to NA dollar. And here's one I hadn't heard of before:
"In October 2006, El Universal, a Mexican newspaper published in
Spanish, reported in a little-noticed article the then-president-elect
of Mexico and Canadian Prime Minister Stephen Harper in their first
meeting together shared a vision of a future North America united
under a common currency.
I don't even see it as a conspiracy, considering that it's talked and written about openly. Just an idea and a contigency plan in case the dollar really goes down the tubes, taking the Canadian and Mexican economies with it.
, if gas costs 16$ a gallon at some point in the 2020s then I might be out on the streets handing out pro Amero/NA dollar pamphlets.
Much more likely short term is that the middle east oil powers will de-link oil and their currencies from the dollar. When the dollar bottoms out they will come in and buy up US assets at the fire sale.
How is a coin more practical than a dollar? The dollar sure fits in my wallet a lot better than a coin would, as well as in a stripper's g-string.
How is it a conspiracy when politicians and federal bank types from Mexico, the U.S., and Canada have all openly talked about it?
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