The National Debt ($35 trillion). The Federal Budget Deficit.

#129
#129
The fun starts when Congress tries to “fix” SS in the 11th hour. Hope everyone is very well lubricated when that happens.
 
#130
#130
What's the alternative to SS? Without forcing people to save a bit for retirement, it will create perhaps a greater cost to society than SS does. I think a plan that involves providing people with food and housing but not cash might be effective.
 
#131
#131
jvol1 said:
What's the alternative to SS? Without forcing people to save a bit for retirement, it will create perhaps a greater cost to society than SS does. I think a plan that involves providing people with food and housing but not cash might be effective.
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lol nope. we provide plenty of people with food and housing and it doesn't help. Its pretty dang clear that giving people stuff, money, food, housing, doesn't actually help them, and doesn't end poverty.

if you still want to steal from people smart enough to save for retirement, and provide retirement funds for the people too dumb to save for their own, just swap out the SS Pyramid scheme with mandatory 401ks. the 401ks are privately held by the individual, no government access to the accounts themselves. but take the current SS tax rates and split them. your 6.6% goes into your 401k, your employers 6.6% contribution goes to the general pot. and just like SS works now, all of that is pretax money.

allow the current amounts of pretaxable 401k, and other, contributions to stay at the same level.

everyone would have more money for retirement, but the above will never happen because it takes away control from the government. which will never be allowed. Just like any pyramid scheme, SS is not designed to help the victims, but only to help the ones running it.
 
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#132
#132
LouderVol said:
lol nope. we provide plenty of people with food and housing and it doesn't help. Its pretty dang clear that giving people stuff, money, food, housing, doesn't actually help them, and doesn't end poverty.

if you still want to steal from people smart enough to save for retirement, and provide retirement funds for the people too dumb to save for their own, just swap out the SS Pyramid scheme with mandatory 401ks. the 401ks are privately held by the individual, no government access to the accounts themselves. but take the current SS tax rates and split them. your 6.6% goes into your 401k, your employers 6.6% contribution goes to the general pot. and just like SS works now, all of that is pretax money.

allow the current amounts of pretaxable 401k, and other, contributions to stay at the same level.

everyone would have more money for retirement, but the above will never happen because it takes away control from the government. which will never be allowed. Just like any pyramid scheme, SS is not designed to help the victims, but only to help the ones running it.
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I meant to include a part about having ss be convertible to a us bond fund for those who'd could support an independent lifestyle with ss and their other savings they'd amassed. Unfortunately, many people in the country have worked their adult lives but not built any savings, and ss alone may not be enough for them.

Helping the helpless isn't about ending poverty. I dont think that's possible. It's about providing them with minimal support with the hope they'll take advantage of it and make something of themselves. Many people are completely defeated by this world, though, and I think it's more about providing support for them. That's probably a different topic than ss.
 
#133
#133
jvol1 said:
I meant to include a part about having ss be convertible to a us bond fund for those who'd could support an independent lifestyle with ss and their other savings they'd amassed. Unfortunately, many people in the country have worked their adult lives but not built any savings, and ss alone may not be enough for them.

Helping the helpless isn't about ending poverty. I dont think that's possible. It's about providing them with minimal support with the hope they'll take advantage of it and make something of themselves. Many people are completely defeated by this world, though, and I think it's more about providing support for them. That's probably a different topic than ss.
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as long as you incentivize not taking care of yourself, people will continue to not take care of themselves. you can't give them free stuff and expect them to pull themselves up with someone else's bootstraps. they are just going to sit there and continue to be lazy. its why generational welfare is a thing.

as long as there is a golden parachute at the end, why would these people prioritize saving vs buying a 150k truck to sit outside their 50k trailer home?

beyond it not working for those in "need", you have the fact that it squeezes out more and more people from the middle class. SS, and any welfare, doesn't lift people out of poverty into a "lower" yet alone "middle" class. But SS, and other welfare taxes, certainly squeeze people who are "lower" and "lower middle" class into a worse financial state. and just by percentages that is going to push some down into poverty where they need welfare.
 
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#135
#135
UT_VOLS13 said:
www.commondreams.org

'Easy to Pay for Something That Costs Less': New Study Shows Medicare for All Would Save US $5.1 Trillion Over Ten Years | Common Dreams

"Medicare for All promises a system that is fairer, more efficient, and vastly less expensive than America's bloated, monopolized, over-priced and under-performing private health insurance system."
www.commondreams.org www.commondreams.org
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The biggest “cost controls” will be when the .gov slashes doctor’s salaries and “negotiates” prescription drug prices down. Tax rates will be exorbitant for those of us that actually pay federal income tax. This coming from liberal policy wonk professors and Bernie Sanders should make anyone question their rosy scenario.
 
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#136
#136
Vol737 said:
The biggest “cost controls” will be when the .gov slashes doctor’s salaries and “negotiates” prescription drug prices down. Tax rates will be exorbitant for those of us that actually pay federal income tax. This coming from liberal policy wonk professors and Bernie Sanders should make anyone question their rosy scenario.
Click to expand...

Healthcare reform should begin with getting insurance costs down for physicians and creating legislation that cuts ambulance chasing lawyers pursuing frivolous lawsuits out of the equation.
 
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#140
#140
Vol737 said:
Rock and Roll! Heck yeah, boys and girls!

apple.news

U.S. deficit hits $1.8 trillion as interest costs rise — The Washington Post

Rising interest costs have swelled the U.S. deficit, prompting concerns about a potential debt crisis.
apple.news apple.news
Click to expand...

The wealthiest 1% already pay nearly 50% of the income taxes. I’m not sure what “fair share” is supposed to mean.

Leftist democracy is where 50% plus one can do anything that they want to the minority.

“One of the things that I’m going to make sure is that the richest among us, who can afford it, pay their fair share in taxes,” Harris said in a “60 Minutes” interview broadcast Monday, when asked about paying for her proposals. “It is not right that teachers and nurses and firefighters are paying a higher tax rate than billionaires and the biggest corporations. And I plan on making that fair.”
 
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#141
#141
Thunder Good-Oil said:
The wealthiest 1% already pay nearly 50% of the income taxes. I’m not sure what “fair share” is supposed to mean.

Leftist democracy is where 50% plus one can do anything that they want to the minority.

“One of the things that I’m going to make sure is that the richest among us, who can afford it, pay their fair share in taxes,” Harris said in a “60 Minutes” interview broadcast Monday, when asked about paying for her proposals. “It is not right that teachers and nurses and firefighters are paying a higher tax rate than billionaires and the biggest corporations. And I plan on making that fair.”
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Harris, if elected, and Congress could lower the income tax rate on all (including teachers, nurses, and firefighters) to the capital gains rate to which she is comparing. That would be fair. It would put more money in the pockets of the "hard working" Americans.
 
#142
#142
McDad said:
Harris, if elected, and Congress could lower the income tax rate on all (including teachers, nurses, and firefighters) to the capital gains rate to which she is comparing. That would be fair. It would put more money in the pockets of the "hard working" Americans.
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Those earners wouldn’t have a high effective rate after the current FIT exclusion and if they are saving through 401(k)s and IRAs. They can also take advantage of favorable capital gains rates.

“Teachers and nurses and firefighters” is a talking point to make it sound like the leftists have compassion for lower wage workers. They all actually pay pretty lucrative wages/salaries.

If she really wants to help those at the low end, how about including an exclusion on the first $10,000 or $20,000 on Social Security taxes. It wouldn’t be difficult to administer and would directly help low earners immediately. She’s blowing smoke. “Soak the rich” gets votes.
 
#144
#144
Vol737 said:
Rock and Roll! Heck yeah, boys and girls!

apple.news

U.S. deficit hits $1.8 trillion as interest costs rise — The Washington Post

Rising interest costs have swelled the U.S. deficit, prompting concerns about a potential debt crisis.
apple.news apple.news
Click to expand...
She said she would change nothing from the Biden administration so this will only get worse because she has to pay for her $10T climate agenda, financial support for continued open borders, and Medicare for All. To do that she plans to:

-- Allow Trump tax cuts to expire
-- Increase taxes on small businesses and corporations from 21% to 28% with the LT goal being 35%
-- Increase AMT from 15% to 21%

Bad person and mean tweets or the above ... what to do?

 
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