why is there still no action to fix social security

[Engineer]

Originally posted by: Zebo
And what happens to our generations investments?

Who cares they say? That's why the hybrid system....to continue to pay SS funds in so that they can receive regular SS (even if we have to borrow against the general deficit do keep it there) AND money pumped into the general market to keep it artifially high while they withdrawl money from it. Who knows.....but it's a very real possibility....

 

[techs]

The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

 

[smack Down]

Originally posted by: techs
The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

Yeah it would be a real shame if our country ended SS for the boomers bill gates has a right to tax the guy working at Burger king.

 

[conehead433]

We're busy fighting terrorists. Listen to the President speak and the only thing that's going on is fighting terrorists.

 

[techs]

Originally posted by: smack Down

Originally posted by: techs
The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

Yeah it would be a real shame if our country ended SS for the boomers bill gates has a right to tax the guy working at Burger king.

I missed your point? What does Bill Gates and Burger King have to do with this?

 

[Engineer]

Originally posted by: techs

Originally posted by: smack Down

Originally posted by: techs
The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

Yeah it would be a real shame if our country ended SS for the boomers bill gates has a right to tax the guy working at Burger king.

I missed your point? What does Bill Gates and Burger King have to do with this?

He's implying that Gates is a boomer and the people working at Burger King (younger generation) would need to pay SS tax to pay SS to Gates (or that's the way I read it).

 

[Uhtrinity]

Originally posted by: Engineer

Originally posted by: techs

Originally posted by: smack Down

Originally posted by: techs
The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

Yeah it would be a real shame if our country ended SS for the boomers bill gates has a right to tax the guy working at Burger king.

I missed your point? What does Bill Gates and Burger King have to do with this?

He's implying that Gates is a boomer and the people working at Burger King (younger generation) would need to pay SS tax to pay SS to Gates (or that's the way I read it).

As if Gates is ever gonna draw SS :roll:

 

[techs]

Originally posted by: Engineer

Originally posted by: techs

Originally posted by: smack Down

Originally posted by: techs
The bottom line is we can't end SS for the boomers. Politicallly and economically and morally it would be a disaster.
So if your in your 20's today you will be paying a huge amount of SS taxes as the boomers retire.
Add that on to the lower real incomes from globalzation. Plus the change in purchasing as fewer people are in the "peak buying years" (just look at the audience television most covets).
And as the boomers are either forced to sell their homes or move into nursing homes the housing market will be flooded with sellers.
The result?
If your 20 today when you are 45 the house you are paying off will be worth squat. Your salary will be squate. SS taxes will eat up a large portion of your income.
The young are totally screwed.
Al Gores "locked box" was your chance for a decent life. You blew it.

Yeah it would be a real shame if our country ended SS for the boomers bill gates has a right to tax the guy working at Burger king.

I missed your point? What does Bill Gates and Burger King have to do with this?

He's implying that Gates is a boomer and the people working at Burger King (younger generation) would need to pay SS tax to pay SS to Gates (or that's the way I read it).

Yes, Bill Gates will get SS (maybe). Remember that SS only taxes you up to a certain earnings level. Once you reach it you don't pay anymore that year. So Gates would be eligible for the max. SS benefit.
However, it is, imo, a certainty that when the crisis hits we will have no choice but to institute a means test and ol Bill may not see his SS money. This will violate the law and spirit of the SS system but there will literally be no choice. It will be unfair. But we will certainly do it.
All because of a propaganda ploy by a certain political party to spend like maniacs and cut taxes and tell us it doesn't matter.

 

[Engineer]

Originally posted by: Uhtrinity

As if Gates is ever gonna draw SS :roll:

While he may not, there are millionaires in this country that do indeed draw SS. It is their right to draw it since they did pay it in. Might not "seem" right, but it is theirs to draw for now.

 

[Uhtrinity]

Originally posted by: Engineer

Originally posted by: Uhtrinity

As if Gates is ever gonna draw SS :roll:

While he may not, there are millionaires in this country that do indeed draw SS. It is their right to draw it since they did pay it in. Might not "seem" right, but it is theirs to draw for now.

Only if their earned income is more than $12,000, then they lose $1 for every $2 or $3 they earn (or something like that). However, interest income or divdends, and royalties aren't counted towards SS, which I think is wrong. So you could effectively draw $1,000,000 a year on Haliburton stocks and still get SS

 

[LunarRay]

Originally posted by: Zebo
Such a joy to see you post again Lunar. As far as the big picture it's really nothing ~300B or 14% of fed expenditure *and* runs a surplus. The big picture is they want a massive cash infusion in the 7 year stagnet but overvalued market before the house of cards fall in on it (me thinks)

PS: I did'nt really mean that about "greedy irresponsible assholes" you know, just some them, mainly hyperbole.

Hi Zebo! I read a lot but don't post cuz the arguments are the same. hehehe.. Anyhow, it still seems to me that either SS is broken and in need of a fix or it is not. It seems to me that the folks in office know the true condition cuz they are way smarter than most of us given they have the real data ... somewhere... and are acting according to either what they know to be the right thing to do or they are not... I think based on my simple mind and simple understanding of all of this that they cannot be acting in the best interest of the younger generation(s). But why is that so assuming I'm correct? Can't be for me or the folks almost ready to bleed the funds out. Must be some other reason. They need the votes of me and the other voter bloc to continue this current and future agenda of America's Manifest Destiny... what ever that may be...

 

[Rainsford]

Am I the only one who thinks the "danger" for the social security system is way overblown? The actual numbers seem to indicate problems will not be all that hard to fix when they come up, and they won't come up for a while. As far as what to do when the time comes, getting rid of the income cap on SS taxes seems like a great idea, the whole concept has never made much sense to me.

 

[irwincur]

The left refuses to make a move since they get so much of their funding from organizations that benefit from the status quo. Have to love those greedy motives. I would rather bank on my own investments and deal with the 'greedy' Wall St. sharks. Not a bunc of greedy, Union dependant, professinal Democrat politicians in DC.

 

[1EZduzit]

Originally posted by: irwincur
The left refuses to make a move since they get so much of their funding from organizations that benefit from the status quo. Have to love those greedy motives. I would rather bank on my own investments and deal with the 'greedy' Wall St. sharks. Not a bunc of greedy, Union dependant, professinal Democrat politicians in DC.

Translation: No one trusts Bush and he can't get to first base with the limited support he has. Hell, Bush made an "accounting" change in his first term that took something like $4.3 billion out of the SS "reserve". Now he wants us to trust him??? LMAO!

 

[Jadow]

I'm for blowing it up. Cash out the system and end it today.

 

[1EZduzit]

Originally posted by: Jadow
I'm for blowing it up. Cash out the system and end it today.

Good luck with that. :laugh:

 

[bctbct]

Originally posted by: irwincur
The left refuses to make a move since they get so much of their funding from organizations that benefit from the status quo. Have to love those greedy motives. I would rather bank on my own investments and deal with the 'greedy' Wall St. sharks. Not a bunc of greedy, Union dependant, professinal Democrat politicians in DC.

Republicans have been in control for a long time. Get a plan and pass it.

How soon you forget the republicans dont support the Bush plan.

 

[Darkhawk28]

I will never support a "fix" to Social Security until the problem is correctly protrayed. Until then, piss off with the "fixes".

 

[smack Down]

Originally posted by: Darkhawk28
I will never support a "fix" to Social Security until the problem is correctly protrayed. Until then, piss off with the "fixes".

The problem is really simple. Money going out is going to be more then money going in.

 

[Engineer]

Originally posted by: bctbct

Originally posted by: irwincur
The left refuses to make a move since they get so much of their funding from organizations that benefit from the status quo. Have to love those greedy motives. I would rather bank on my own investments and deal with the 'greedy' Wall St. sharks. Not a bunc of greedy, Union dependant, professinal Democrat politicians in DC.

Republicans have been in control for a long time. Get a plan and pass it.

How soon you forget the republicans dont support the Bush plan.

Bingo! Classic blame the minority party when you control both the House and Senate and the Presidency. Must be the Democrats fault...yep. :roll: