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Old 04-08-2013, 18:31   #151
billn
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In 2011 we collected $1,015 billion in SS taxes and only paid out 725 billion in benefits. Basic math says SS is solid for years.
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Old 04-08-2013, 18:31   #152
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That is how it works for years. The young pay taxes for senior benefits. The future of the young is senior and one day it will be your turn to draw.

If you become disable you can draw or if you die your family may qualify to draw.
You left out the FORCE part.

As in

"The young are forced to pay taxes for senior benefits"

But that is confusing because so many on this thread and others like it passionately defend their welfare saying that they're just getting their own money back.

Either way, I don't wanna. You put a gun to my head and pick my pocket. That's a thief.


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Old 04-08-2013, 18:32   #153
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That is how it works for years. The young pay taxes for senior benefits. The future of the young is senior and one day it will be your turn to draw.

If you become disable you can draw or if you die your family may qualify to draw.
It's unsustainable. There's not enough people working to pay for the entitlement benefits. Why do you think the debt and the deficits are so high?
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Old 04-08-2013, 18:33   #154
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When I was young I paid SS taxes for that seniors generation. Congress is not going to cut SS taxes. They will cut benefits to spend the extra stuff on Asteroid spotting, etc.
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Old 04-08-2013, 18:33   #155
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You left out the FORCE part.

As in

"The young are forced to pay taxes for senior benefits"

But that is confusing because so many on this thread and others like it passionately defend their welfare saying that they're just getting their own money back.

Either way, I don't wanna. You put a gun to my head and pick my pocket. That's a thief.


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Extortion. If you don't pay, we'll take your stuff away or put you in prison? And it's legal when the .gov does it.
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Old 04-08-2013, 18:35   #156
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Al Gore running for president he promised a lock box for SS. He did not want the funds to put in the general funds for politicians to grab like they do now.
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Old 04-08-2013, 18:36   #157
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The debt is so high is because the fed grab the SS $ everyday and spend on other stuff and them borrow to pay the money back. A money pit for politicians.
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Old 04-08-2013, 18:38   #158
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Quote:
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When I was young I paid SS taxes for that seniors generation. Congress is not going to cut SS taxes. They will cut benefits to spend the extra stuff on Asteroid spotting, etc.
The $100M for asteroid lasso-ing this year would pay for... almost an hour of SS spend.

By any measure, investment in basic scientific research is a better way to spend government money than welfare for old people.
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Old 04-08-2013, 18:38   #159
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In 2011 we collected $1,015 billion in SS taxes and only paid out 725 billion in benefits. Basic math says SS is solid for years.
Wrong

Payments exceeded revenue starting in 2010 and 2011 and are projected to continue to do so for the next 75 years.


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Old 04-08-2013, 18:38   #160
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You need to read http://www.ssa.gov/oact/progdata/fundFAQ.html SS pays for itself.

Tax income is deposited on a daily basis and is invested in "special-issue" securities. The cash exchanged for the securities goes into the general fund of the Treasury and is indistinguishable from other cash in the general fund.
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Old 04-08-2013, 18:40   #161
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Al Gore running for president he promised a lock box for SS. He did not want the funds to put in the general funds for politicians to grab like they do now.
That's illegal. Al Gore was proposing criminal activity to pander to people like you.


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Old 04-08-2013, 18:43   #162
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Quote:
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You need to read http://www.ssa.gov/oact/progdata/fundFAQ.html SS pays for itself.

Tax income is deposited on a daily basis and is invested in "special-issue" securities. The cash exchanged for the securities goes into the general fund of the Treasury and is indistinguishable from other cash in the general fund.
http://www.ssa.gov/oact/trsum/

From the trustee report. Deficit

Welfare

SS doesn't pay for itself. It's funded with taxes taken by force.

People who support this are thieves by proxy


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Old 04-08-2013, 18:43   #163
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Obama may it sound worse than it is. How? He cut SS taxes for the last two year from 6.2% to 4.2% to deliberately make is look a little worse. This year he up SS taxes to 6.2% again.
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Old 04-08-2013, 18:44   #164
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SS is very viable. The fed borrow the $ everyday and pay back with interest. We have been collecting more than we pay in benefits.

SS is taxed if you have other incomes. These tax $ go back into the general funds not the SS trust funds.
Too bad the truth is so easy to find. SS is not viable. Its been paying out more than it receives since 2010.

http://www.nytimes.com/2010/03/25/bu...cial.html?_r=0
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Old 04-08-2013, 18:44   #165
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They are not going to stop their cash cow of SS and Medicare taxes.
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Old 04-08-2013, 18:46   #166
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Obama may it sound worse than it is. How? He cut SS taxes for the last two year from 6.2% to 4.2% to deliberately make is look a little worse. This year he up SS taxes to 6.2% again.
I preferred paying less. If it isn't enough money cut benefits.




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Old 04-08-2013, 18:49   #167
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In 2011 we collected $1,015 billion in SS taxes and only paid out 725 billion in benefits. Basic math says SS is solid for years.
Thats not what the Social Security Administration reported in its annual.

http://www.ssa.gov/oact/trsum/
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Old 04-08-2013, 18:49   #168
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Obama wants cut to benefits not SS and Medicare taxes. He says the GOP want to kill off Medicare. Obama is the one who took 500bn in Medicare $ to put in Obamacare.
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Old 04-08-2013, 18:49   #169
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Al Gore running for president he promised a lock box for SS. He did not want the funds to put in the general funds for politicians to grab like they do now.
Yes, and we now how honest Al is.
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Old 04-08-2013, 18:51   #170
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Obama wants cut to benefits not SS and Medicare taxes. He says the GOP want to kill off Medicare. Obama is the one who took 500bn in Medicare $ to put in Obamacare.
It's all tax money. Congress can spend it however they want.




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Old 04-08-2013, 18:52   #171
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Quote:
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You need to read http://www.ssa.gov/oact/progdata/fundFAQ.html SS pays for itself.

Tax income is deposited on a daily basis and is invested in "special-issue" securities. The cash exchanged for the securities goes into the general fund of the Treasury and is indistinguishable from other cash in the general fund.
Yes, lets use that data, shall we?

"The amount bought in 2011 was $1,015 billion, while the amount sold was $946 billion. See investment transactions for more detail and earlier years."

Looks like they borrowed more than they gave out.
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Old 04-08-2013, 18:53   #172
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I think billn is a spam program Al Gore invented. :D

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Old 04-08-2013, 19:00   #173
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http://www.socialsecurity.gov/OACT/STATS/table4a3.html
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Old 04-08-2013, 19:07   #174
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There's almost 17 trillion in debt, not to mention the tens of trillions in unfunded liabilities. There's no money!!! The .gov can't tax its' way out nor can it print its' way out.

Social Security trustees: We’re going broke

http://www.politico.com/news/stories/0412/75603.html
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Old 04-08-2013, 19:10   #175
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You will have to pay Federal taxes on your Social Security benefits if you file a Federal tax return as an individual and your total income is more than $25,000. If you file a joint return, you will have to pay taxes if you and your spouse have a total income of more than $32,000.

http://ssa-custhelp.ssa.gov/app/answ...urity-benefits
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