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I think I can survive.
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?
I think I can survive.
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.
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.
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?
It wasn't useless to those who saw an increase in their take home pay.
Anybody?
The rate cut was nothing more than a gimmick. It's time for it to go.
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.
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.
Who do you think makes the laws?
The attack on SS is an actuarial one, not a partisan one. SS is simply a fundamentally flawed concept that will eventually fail.The VRWC attack on SS is nothing but an attempt to steal Human-Americans pensions.
Predictable.
Obama to push for payroll tax cut extension
"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.
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.
, I say raise it to 7%.
Last edited by Wild Cobra; 11-22-2011 at 04:31 PM.
I wholeheartedly disagree.
Is there a MEGA-EYE ROLL smiley?
"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. that.
Politically, DC is too corrupt and paralyzed to do anything for anybody but their owners.
Since neither of those ideas have political support, there is no easy fix for SS and nothing to halt the program's demise.
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.
Last edited by boutons_deux; 11-22-2011 at 11:40 AM.
That increase in take home pay really stimulated the economy!
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.
Me, Im ready.
Do it to it.
"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? 'em. We'll default on SS's t-bonds.
They're just meaningless, worthless IOUs (CC et Friends).
Last edited by boutons_deux; 11-22-2011 at 03:40 PM.
i am poor so what is 0-1000?
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