Reply With Quote
It's bi-partisan class war-fare, he makes no bones about this, but the M$M, our fourth estate is DOA, that's why we all must be more diligent.
Well, at least he got one part right.Of course, the story's not over. Whichever party is in the majority in Congress, it remains a millionaire's club where Average Americans, plucked of their vote, are soon carved into chewable pieces for the corporate carnivores.
It's bi-partisan class war-fare, he makes no bones about this, but the M$M, our fourth estate is DOA, that's why we all must be more diligent.
A preferable option for Social Security would be to transition it into an income guarantee for those retirees who truly need it. I can't think of a worse government program than one that taxes low income workers regressively to pay benefits to affluent retirees. The main tenet of Social Security is that those who can't work anymore should have some base level of income in our society. At the end of the day, I believe that's what most Americans want and if given the choice, would choose that over the current monstrosity that forces everyone to participate and is unsustainable without higher payroll tax rates or other tweaks such as requiring beneficiaries to work until they are 95 or so.
Regarding changing the system, the problem is that any fundamental change is subject to well-funded violent opposition from groups whose very existence is based on demagoguery of any such change. Political self-continuance is all that matters, not what's best for the country.
This is why means-testing is the only logical answer. If we let younger workers pull out of SS now, the ponzi sceme fails just that much quicker.A preferable option for Social Security would be to transition it into an income guarantee for those retirees who truly need it. I can't think of a worse government program than one that taxes low income workers regressively to pay benefits to affluent retirees. The main tenet of Social Security is that those who can't work anymore should have some base level of income in our society. At the end of the day, I believe that's what most Americans want and if given the choice, would choose that over the current monstrosity that forces everyone to participate and is unsustainable without higher payroll tax rates or other tweaks such as requiring beneficiaries to work until they are 95 or so.
A system requiring payments only to those who need it should require lower a payroll tax rate for all workers.
Ideas like lowering the capital gains tax for those of us who manage to save enough to retire comfortably is a start, but it's all dependent on how many people actually need SS in the future.
The credit bubble that fed the housing boom is bursting....
Mortgage rates: biggest e in 4 years
Rate on 30-year fixed mortgage gained 21 basis points in past week, to 6.74%,
highest level since July 2006.
By Rob Kelley, CNNMoney.com staff writer
CNN MoneyNEW YORK (CNNMoney.com) -- Mortgage rates made their largest upward movement in nearly 4 years, and the 30-year fixed-rate reached its highest level since July 2006, Freddie Mac said Thursday.
The average rate on 30-year fixed-rate loans climbed to 6.74 percent for the week ending June 14, from 6.53 percent the previous week. That marked the biggest one-week increase since July 2003.
The 30-year rate stood at 6.15 percent on May 10th, just before it turned sharply up. Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), expects mortgage rates to top out near 7 percent by the end of the year.
Cheap money led to people being able to afford larger homes. With interest and appreciation of these homes moving upward, there are fewer and fewer qualified buyers. This is why we have a 2-3 new home inventory back-log and why larger homes are starting to stay on the market much longer.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Posting Permissions
