Bad news on Medicare, SS Trust Funds

#3
#3
you realize raising taxes by repealing the Bush tax cuts would hit everyone in the US right? (well at least the half that pays)

why do we need to continue to fund at current levels?

is the $21bil over 10yrs from the oil taxes really going to make that big a dent? And won't it just raise the prices for every American (in essence passing the tax burden on to them)?
 
#5
#5
utvolpj said:
you realize raising taxes by repealing the Bush tax cuts would hit everyone in the US right? (well at least the half that pays)

why do we need to continue to fund at current levels?

is the $21bil over 10yrs from the oil taxes really going to make that big a dent? And won't it just raise the prices for every American (in essence passing the tax burden on to them)?
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hey, you have to keep the Cowboy Poetry Festival fully funded somehow.
 
#6
#6
The accelerated date of trust fund expiration is due to changes in economic assumptions, Geithner said in a statement.
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well who saw that coming?
 
#7
#7
imagine how bad it would have been without all those jobs saved by the stimulus.
 
#9
#9
I wish I could opt out of social security. Let me keep my money and I'll forgo a social security check from the govt.
 
#10
#10
droski said:
how about taxing 100% of social security benefits?
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Better to delay starting point of benefits by 2-3 years, imo.

Although life expectancy has been extended by a number of years since the program started, seems like we haven't delayed the start of benefits to correspond to that even though in addition to living longer we could certainly comfortably work longer, too.
 
#11
#11
lawgator1 said:
Better to delay starting point of benefits by 2-3 years, imo.

Although life expectancy has been extended by a number of years since the program started, seems like we haven't delayed the start of benefits to correspond to that even though in addition to living longer we could certainly comfortably work longer, too.
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how about both?
 
#12
#12
I love how none of us can expect any type of SS benefit when we retire, but continue to fund everyone else's since it has not been a problem yet.

This how they ulitimately will fix the problem. For example:

Avg life expectancy in U.S. 73 yrs
Age Social Security Benefits will be raised to: 73 yrs

Magicly the problem is solved.

I have a solution, you don't get a dime more then you pay in. Period.
 
#14
#14
oklavol said:
I have a solution, you don't get a dime more then you pay in. Period.
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while I understand the point, what has the gov't been doing with my money for 40-50 years if I only get the exact amount back out? Doesn't seem like a solid investment to me
 
#16
#16
seriously I'm going to have to read some of this stuff because it must be life-changing
 
#18
#18
utvolpj said:
while I understand the point, what has the gov't been doing with my money for 40-50 years if I only get the exact amount back out? Doesn't seem like a solid investment to me
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Using it to pay the interest on the debt.
 
#19
#19
droski said:
how about both?
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I think a lot of people in my age range (47) and who are directly affected arguably the most by this, have already come to understand and accept that full retirement will be more like 67 than 65.

But cutting benefits or taxing them (which effectively cuts them) is not something most people would agree to. Your proposal reeks of placing more of the burden on the middle class, which is what is blowing up in your collective face vis-a-vis the Ryan plan.

Cliffs:

1) Extending retirement age and eligibility for SS is politically doable, especially if in conjunction with salvaging of Medicare in close to current form.

2) Taxing SS benefits, means testing benefits, or cuts in benefits, will never, ever, ever pass because rightfully seen as another backdoor tax break for the wealthiest.
 
#21
#21
utvolpj said:
well then I'm all for giving the gov't a 50yr, interest free loan. Not like I can use the money anyway
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Yesterday the US Treasury auctioned off $16 Billion worth of 30 year bonds at 4.38%

Any chance of us getting that kind of return on our $ we are putting in SS?
 
#22
#22
When you say oil subsidies do you mean the accelerated depreciation that all businesses get or something else?

Surely you don't mean subsidies like ethanol subsidies.
 
#24
#24
-gradually raise the retirement age to 75 for full benefits

-allow individuals to partially privatize up to 25% of their account, and if not privatize, allow them to purchase something like savings bonds that when mature, exceed their face value. These accounts/bonds are the property of the account holder and can be passed on to survivors.

-give wealthy retirees (or those who's private retirement plans are sufficient) the option to accept a one-time lump sum payment equal to their total lifetime contributions with the knowledge that they have no other claim to SS benefits if they accept it.

-double or triple the withholding amount paid by non-US residents, whether legal or not, who possess an SS account, whether legal or not.

-forbid any retiree who has not paid into SS from collecting any benefits.


these are just some of the ideas I've kicked around in my head.
 
#25
#25
lawgator1 said:
I think a lot of people in my age range (47) and who are directly affected arguably the most by this, have already come to understand and accept that full retirement will be more like 67 than 65.

But cutting benefits or taxing them (which effectively cuts them) is not something most people would agree to. Your proposal reeks of placing more of the burden on the middle class, which is what is blowing up in your collective face vis-a-vis the Ryan plan.

Cliffs:

1) Extending retirement age and eligibility for SS is politically doable, especially if in conjunction with salvaging of Medicare in close to current form.

2) Taxing SS benefits, means testing benefits, or cuts in benefits, will never, ever, ever pass because rightfully seen as another backdoor tax break for the wealthiest.
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I'm just being civil and non-political about the whole thing but clearly you hate old and poor people. These proposals are Draconian and not the American values I grew up with.
 
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