Obama wants to extend SS tax cut - GOP wants to end it. Partisan to the bitter end..

[Jhhnn]

Yes or no...are we currently running escalating SS deficits and are these deficits being funded by the general fund as was originally stated by boochi?

Incorrect. boochi claimed that all payments came from the general fund, which is just plain wrong. the vast, vast majority of money paid out comes from working people paying SS taxes.

The fact that more will necessarily come from funding sources other than contributions isn't some sort of surprise- it's been known for nearly 30 years. RR asked Boomers to pay it forward, and they have, to the tune of $2.6T, the current value of the Trust.

Anybody with a shred of honesty knows this to be true, and also knows that the whole proposition demanded fiscal responsibility all along. Instead, RR & GHWB quadrupled the debt & cut taxes, while GWB cut taxes & doubled the debt again. Now Repubs are jamming Uncle Sam into the corner by refusing to raise taxes, insisting on cuts, instead, other than in this small regressive instance.

And they've got the stink-eye on SS, bet on that, and are trying to figure out a way to screw the people who've paid extra all these years & be able to Blame Obama!

 

[dali71]

It's all so simple if you remember the Republicans serve the rich. These tax cuts are not for the rich, and they help the economy, which helps Obama's re-election.

If the Republicans serve the rich, and stay in power by keeping the rich rich, does that mean that Democrats serve the poor, and stay in power by keeping the poor poor? Because the more successful the poor become, the more they object to the government taking the fruits of their labor, until they ultimately become...Republicans.

 

[boochi]

There are NO trust funds. I don't know why some of you are having trouble understanding this. Put your thinking caps on and read this article.
http://moneywatch.bnet.com/retireme...ife/the-social-security-trust-fund-myth/2944/
S.S. Payments are coming from the general fund as are all expenditures of the U.S. government. There are no special accounts, only promises that payments will be made. If there is not enough money to pay these debts in the future the whole system will collapse.

 

[Jhhnn]

If the Republicans serve the rich, and stay in power by keeping the rich rich, does that mean that Democrats serve the poor, and stay in power by keeping the poor poor? Because the more successful the poor become, the more they object to the government taking the fruits of their labor, until they ultimately become...Republicans.

Is that supposed to make sense?

It's not like the bottom 50% can magically become the top .01%- that's simple math.