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Old 04-08-2013, 19:15   #176
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Quote:
Originally Posted by 427 View Post
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
Billn will tell you we just need to raise taxes.


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Old 04-08-2013, 19:15   #177
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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
You aren't paying taxes. They're just taking a wee bit back




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Old 04-08-2013, 19:17   #178
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Trustees Report on Social Security's Trust Fund

Quote:

In the 2012 Annual Report to Congress, the Trustees announced:
· The projected point at which the combined Trust Funds will be exhausted comes in 2033—three years earlier than the estimate in last year's report. At that time, there will be sufficient tax revenue coming in to pay about 75 percent of benefits.
· The projected actuarial deficit over the 75-year long-range period is 2.67 percent of taxable payroll—a 0.44 percentage point larger than in last year's report.
· Over the 75-year period, the Trust Funds would require additional revenue equivalent to $8.6 trillion in present value dollars to pay all scheduled benefits.
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/210/~/trustees-report-on-social-security%27s-trust-fund
One word:

Unsustainable!
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Old 04-08-2013, 19:19   #179
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Originally Posted by certifiedfunds View Post
Billn will tell you we just need to raise taxes.


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We can tax our way to prosperity!
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Old 04-08-2013, 19:19   #180
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The report is somewhat shewed. Obama cut SS taxes 2% last two years to make it look worse.
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Old 04-08-2013, 19:24   #181
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The report is somewhat shewed. Obama cut SS taxes 2% last two years to make it look worse.
How does cutting taxes skew a report?

Income is income. Expenses are expenses.

Tax cuts are good. We should have just cut benefits to balance things.
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Old 04-08-2013, 19:25   #182
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Quote:
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The report is somewhat shewed. Obama cut SS taxes 2% last two years to make it look worse.
Skewed!? Seriously?

17 trillion in debt,
Trillion + yearly deficits w/no budget,
Tens of trillions in unfunded liabilities,

What part of broke, as in no money, is not clear?

Stop making excuses and look at the numbers.
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Old 04-08-2013, 19:26   #183
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427, i will be on SS in 5 years so you will have to pay more to keep it solvent.
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Old 04-08-2013, 19:29   #184
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427, i will be on SS in 5 years so you will have to pay more to keep it solvent.
Can't pay more. You will have to take less to keep it solvent.

Wait! I thought you said it was self-funding and running 1/3 of a billion dollars in the black?

Frankly, if you need social security to survive in retirement you made some bad choices in life. it isn't my problem or 427's.

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Old 04-08-2013, 19:34   #185
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I am going to demand my SS like the rich demand their pay cuts and Illegals their free education and healthcare.
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Old 04-08-2013, 19:50   #186
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I am going to demand my SS like the rich demand their pay cuts and Illegals their free education and healthcare.
The rich demand pay cuts?
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Old 04-08-2013, 19:56   #187
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Since you are unhappy with SS will you give me your check?
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Old 04-08-2013, 19:56   #188
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427, i will be on SS in 5 years so you will have to pay more to keep it solvent.
No, I'll cut my reported income and or work off the books.
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Old 04-08-2013, 19:56   #189
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Since you are unhappy with SS will you give me your check?
I already do give you your check.
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Old 04-08-2013, 19:58   #190
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Since you are unhappy with SS will you give me your check?
You'll more than likely be dead before CF and I are able to collect anything if they exist in their present form(s).
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Old 04-08-2013, 20:01   #191
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A VERY important part of the growth equation is property rights - something which is increasingly challenged in the United States. When imminent domain is used by a government entity to take homes from working class people and turn the property over to a business which will supposedly pay more property tax - that is a challenge. When the President talks about confiscating IRA balances he thinks are too high - that is a challenge. When national elected officials say they need to transfer everyone's IRAs to "safe" government managed investments - that is a challenge. When

And, yes, when governments at all levels begin talking about confiscating privately owned firearms (whether or not an arbitrary market value will be paid) - that is a challenge.


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Old 04-08-2013, 20:03   #192
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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.
I think the $500 billion grew to $750 billion. But what's a few billion to politicians?


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Old 04-08-2013, 20:58   #193
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The report is somewhat shewed. Obama cut SS taxes 2% last two years to make it look worse.
Yeah, its skewed.

The fact is that SS is spending more than it takes in. Every report we've linked to says so.
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Old 04-08-2013, 22:37   #194
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If any of you morons think Social Security is viable you haven't been paying attention.

The SS Trustee sends out annual statements to all participants outlining your contributions and scheduled benefits. For the last 15 years that I can remember the guy running the program for the government has sent everyone enrolled in the SS program WRITTEN NOTICE that the program is insolvent and will not be able to pay expected future benefits. You've all been formally notified in writing that the program is going broke BY THE GUY WHO RUNS THE PROGRAM FOR THE .GOV!!!

If you won't take his word for it you need to continue to hope that Santa Claus and the Easter Bunny will bring you presents next year.
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Old 04-08-2013, 23:18   #195
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If any of you morons think Social Security is viable you haven't been paying attention.

The SS Trustee sends out annual statements to all participants outlining your contributions and scheduled benefits. For the last 15 years that I can remember the guy running the program for the government has sent everyone enrolled in the SS program WRITTEN NOTICE that the program is insolvent and will not be able to pay expected future benefits. You've all been formally notified in writing that the program is going broke BY THE GUY WHO RUNS THE PROGRAM FOR THE .GOV!!!

If you won't take his word for it you need to continue to hope that Santa Claus and the Easter Bunny will bring you presents next year.
"Boom"
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Old 04-09-2013, 06:35   #196
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And I don't want to pay to get you what's gone already. Why do you want to shift the problem to me?

Honestly, I'd take the hit for SS money already taken from me if I could be excluded from it from here on out. Yeah, I've been paying in for some time now, but I know it's a loser. Let me out and you can keep what's been stolen already.
This has been an ongoing theft from generations of taxpayers. Do you think it is "fair" for anyone who has paid into this scheme to be sent off with nothing?

You have to pay your way out with a gradual decline in benefits paid and INCREASE the private investment by individuals.

I will cost a bit for a while, but as CHile learned, they got OUT of the SS/retirement/pension business
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Old 04-09-2013, 06:38   #197
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Quote:
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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.
Also, the excess money IS not SAVED. Treasury gives SS bonds and then the excess money is spent.

For SS to redeem those bonds, either a tax increase/debt increase or cut in spending will be required.

If all of the excess SS payrol had actually been saved, SS woul dbe in fine shape...but it was not saved, hence the mess we have now.
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Old 04-09-2013, 06:45   #198
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They really should be teaching in school to save for the future. It isn't that tough, and it needs to be done. Teach the kids that there will be no SS, and they are on their own.

And if you show a kid how much money they will have at retirement if they put $100 in the bank at age 17 vs age 45, the difference is staggering enough to even impress a teenager.
I ran the numbers with my 14 year old. He was shocked.He is pulling out all the stops trying to find work to do to start saving. He has a goal.
Most teenagers could see it if it is spelled out.
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Old 04-09-2013, 07:12   #199
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The problem is we are all on the Titanic whether we get a Government check or not.

Chances are a lot of people supported by the Government are your customers.
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Old 04-09-2013, 08:24   #200
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Am I the only one that doesn't like to post right after

#24,49,74,99,124,149,174,199?

So your post ends up at the bottom of a page being number

#25,50,75,100,125,150,175,200

and no one gets to read it?


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