Re: {OT}Social Security strained by early retirements

No only is SS running a deficit, the government will TAX you to pay back the
US bonds that the SS system will need to redeem to pay for you monthly
checks. In addition the government will TAX you to pay the accumulated
interest due on those thirty year US bonds. LOL


"Jeffutz" <jeff.utz@xxxxxxxxx> wrote in message
news:b6282216-d144-4b9d-883c-eb83b680088b@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Sep 28, 7:43 pm, dbu` <nos...@xxxxxxxxxxxxxxxxxx> wrote:
In article
<807b6a73-8e14-460b-9744-6b80c5afa...@xxxxxxxxxxxxxxxxxxxxxxxxxxxx>,



Jeffutz <jeff....@xxxxxxxxx> wrote:
On Sep 28, 5:18 am, edspyhill01 <edspyhil...@xxxxxxxxx> wrote:
On Sep 27, 11:45 pm, Fatter Than Ever Moe <HardTimes@TheFarm> wrote:

Oh what a tangled web we weave when first we practice to deceive.
The
derivative card house continues to fall.
" WASHINGTON - Big job losses and a spike in early retirement claims
from laid-off seniors will force Social Security to pay out more in
benefits than it collects in taxes the next two years, the first
time
that's happened since the 1980s.
Social Security is projected to start generating surpluses again in
2012 before permanently returning to deficits in 2016 unless
Congress
acts again to shore up the program. Without a new fix, the $2.5
trillion
in Social Security's trust funds will be exhausted in 2037. Those
funds
have actually been spent over the years on other government
programs.
They are now represented by government bonds, or IOUs, that will
have to
be repaid as Social Security draws down its trust
fund."http://www.msnbc.msn.com/id/33043206/ns/business-us_business//

How about people pay FICA on their entire gross earnings? And sunset
all the tax cuts going back to Reagan.

People already pay Medicare taxes on their gross salaries. I wouldn't
be opposed to this, as long as people who make the same total
contributions (adjusting for inflation and length of time that the
contributions have been in the system) get the same benefits. I also
wouldn't be opposed to people paying one rate to the present limit
(about $6,600 in SS taxes) and a different rate above that.

Jeff

jeffy sounds like a liberal dim again. Likes taxes. yummy.
--

It's either raise revenues, lower benefits or run a deficit. So far,
we are doing the last.


.

Relevant Pages

  • Re: New Political Party Movement
    ... Basically, it's a universal tax*, pegged at about 14% currently. ... About half of that 14% mentioned earlier is actually deposited into the Medicare trust fund. ... This goes to pay for Part A medicare for all people entitled to Medicare, ... However, once the government guaranteed payment, those nasty capitolists went insane with the idea of the profits to be made, research and development exploded and the kidney dialysis is now available in a shopping centers, and strip malls. ...
    (misc.news.internet.discuss)
  • Re: OT Article: Another year, another wage loss
    ... because it takes two incomes to make it. ... The changes in the tax code and regulatory laws and workplace ... an honest days work and get an honest days pay is not class "envy". ... I trust them to be more efficient than the government. ...
    (comp.sys.mac.advocacy)
  • Re: Malloy doesnt have any support for his position
    ... government provided goods and services. ... pay various taxes either directly of indirectly that support those services. ... county or city for some amount of services that I used or benefitted ... me and asking for the tax? ...
    (misc.taxes)
  • Re: OT - Government bailouts, buyout and guaranteed loans
    ... government DOES NOT HAVE THIS MONEY sitting around to be making these ... THEY WILL BORROW THIS MONEY FROM US. ... if the government creates it I won't have to pay ... You will pay it as a hidden tax, and everyone that has a dollar in their ...
    (rec.gambling.poker)
  • Re: OT: Jobs Bill
    ... system that is supposed to pay it's own way. ... raise the payroll tax to generate a 2.5 trillion surplus. ... enough the bonds could be sold to cover the shortfall. ...
    (rec.gambling.poker)