This group loses big under the GOP Social Security plan

What a surprise. The GOP has been dying to destroy social security forever, and now they will be able to put all their horrific plans into action. Of course their plan is to cut it mostly for young people who are too ignorant or unaware to oppose them and by the time they realize how much they've been screwed it will be too late. Honestly, I expect them to attempt to privatize SS or eliminate it completely, so this 25% is probably just the start of a phased path to complete elimination.

Once people have no retirement or medical care they will be basically forced to turn to charities and religions for support, religions that are mostly controlled by conservatives who will have everyone under their thumb just like in the dark ages.

www.msn.com...

We should get a hold of our congressmen and voice our concern on this issue. That works a lot better than just complaining about Republicans. If our representatives know how we feel, they must vote how we want them too or risk recall.

I have never been one to bash a political party. At least now we have the internet to contact our Representatives and Senators to address these kind of issues. We need to keep Social Security secure, not put it at risk of being destroyed. We need to create more jobs here in America to fund this, we can support our own businesses that have employees contributing to the fund.

Trumps plan has some good points to it. Consumer based economy is way to risky to have in our country at the extent it is right now. Just because a bunch of people think that it can survive means nothing, we need to produce more of what we consume. The Economic system we have now here in America has never in history survived at such a large scale, it is actually a Roman derivative which ends up with two classes, Surfs and Elites. That did not work for Rome, it did not work for England. It did not work for Spain or Egypt too long either.

a reply to: CB328


Continue to cry 'wolf'. It will merely wear out faster.


Foe example, the tax plan would cut income tax for the Social Security recipients to virtually nothing and therefore be a net raise for those receiving Social Security.

IMO, better private accounts rather than having the monies spent on everything else other than S.S.....or saved for later use.

But no, people aren't smart enough to choose for themselves whether they want private accounts or not. The kids NEED a gov't to decide for them. Make them stay the course whether they want to or not. WE KNOW BETTER THAN THE PEOPLE.


That's why your out of office.

a reply to: CB328

What does anyone expect? Trump is a great salesman sold and he just sold an idea to the American people that HE was the answer to their problems. He just sold a product to us that is cheap and won't work the way it's supposed to.

Social Security? Oh, yeah, that program I get taxed for and will never, ever see myself.

Why should I care what they do with it?

a reply to: CB328

The article even says the plan will likely be altered and would only cause this if other measures are not taken to fund the revenue gap.

The system will be out of money by 2034.
We need to do something before it's to late.

originally posted by: Bluntone22
a reply to: CB328

The article even says the plan will likely be altered and would only cause this if other measures are not taken to fund the revenue gap.

The system will be out of money by 2034.
We need to do something before it's to late.

Yep. I have been preparing for SS not being there, as should everyone else. We should have seen in coming the moment they started talking about a "lock box" for SS years ago. I knew then, that they have been, and will continue to raid those funds for ridiculous waste and fraud that is rampant in the federal government these days.

Save as much money as you can, do not count on SS being there when you retire. It wont.

originally posted by: Bluntone22
a reply to: CB328


The system will be out of money by 2034.
.

It's only in that shape because Congress raided the SS Trust Fund of trillions to give tax breaks to their buddies.

Its pretty much common knowledge these days that social security won't be there for the younger generation anyway. It's bound to be discarded eventually. If more people were able to save that money per month, with the right tax incentives then social security wouldn't even be necessary.


Just think if you had been invested all the money into a good yield mutual fund, or index fund, and in 30 years you'd have way more money available than you receive through SS.

a reply to: CB328

I like the idea because ANY attempt to cut the fraud regarding S.S. and EBT (drug testing,ability testing) is always shot down by liberals as "racism" or "bigotry" because of the high numbers of females and minorities committing the fraud.

Maybe the recipients will actually have to spend their EBT on food-instead of selling them for cash to buy drugs,booze,fake hair,etc...

a reply to: eXia7

"If more people were able to save that money per month, with the right tax incentives then social security wouldn't even be necessary."

Expecting people to use any form of common sense or self reliance is racism,bigotry-ask any liberal,lol.

originally posted by: F4guy

originally posted by: Bluntone22
a reply to: CB328


The system will be out of money by 2034.
.

It's only in that shape because Congress raided the SS Trust Fund of trillions to give tax breaks to their buddies.

Not even remotely.

It's in that shape because Congress never saw a fund it could refuse to raid.

Haven't you ever noticed by now that no matter how much they tax us, they never raise as much money as they project they will need for anything? So instead of figuring out how to what went wrong with their program or scrapping it, they instead forge ahead anyhow and either raid any fund not nailed down or empty or simply borrow the rest.

originally posted by: angryproctologist
a reply to: eXia7

"If more people were able to save that money per month, with the right tax incentives then social security wouldn't even be necessary."

Expecting people to use any form of common sense or self reliance is racism,bigotry-ask any liberal,lol.

there will be people that get the extra money and instead of investing it, spend on useless s**t. but, they are free to do so, as long as they do not come crying to the rest of us who saved the money our entire lives, to bail them out.

It sounds harsh, but that is the real world.

a reply to: angryproctologist

Well of course it is, the government itself doesn't have the fortitude to save money, so why would any of us peons be any different?

And then you have the groups who whine that it's not fair to expect people to save their own money because some of them are really poor and it's hard to set aside money and not use it when you live paycheck to paycheck.

But isn't that what a program like SS is? Money you are forced to set aside every month no matter how poor you are?

originally posted by: nwtrucker
a reply to: CB328


Continue to cry 'wolf'. It will merely wear out faster.


Foe example, the tax plan would cut income tax for the Social Security recipients to virtually nothing and therefore be a net raise for those receiving Social Security.

IMO, better private accounts rather than having the monies spent on everything else other than S.S.....or saved for later use.

But no, people aren't smart enough to choose for themselves whether they want private accounts or not. The kids NEED a gov't to decide for them. Make them stay the course whether they want to or not. WE KNOW BETTER THAN THE PEOPLE.


That's why your out of office.

But remember, where is the US government going to get the money that they borrowed out of Social Security to give to Wall Street, are they going to borrow it from China? We owe trillions of dollars to Social Security, they will probably settle for pennies on the dollar when transferring it, saying that the money will grow. If they printed enough money to give the money to Wall Street, they would be causing inflation to jump way up. It is not so simple and I am sure the American People would actually do worse if this went through.

We should have never allowed our government to borrow out of the fund, then they reduced the interest rates so they wouldn't have to pay back as much. They created this nightmare and allowed deceivers at Wall Street to gain all the power to control our economy.

Keeping Social Security like it is seems to be the best of the two bad solutions to a problem started many years ago. I thought we voted not to allow our government to borrow that money, but evidently our votes did not matter. They did it anyway. They used deceitful tactics to do it.

Go get it! And cut the bs, fail or succeed this is strictly republican and no history will be able to change that. Own it now and get it over with. The worst thing is the continual threats every election season.

SS as it stands to day is probably responsible for eliminating abject poverty among the elderly, but it is not a particularly well-designed system. It needs serious reform. Just as one part of the problem, if you took the exact same amount of money from a paycheck over the average working span and invested it in the best long-term CD rate available, i.e.: No risk plain old bank CDs available to everyone, by the time you retired you would have an annuity twice as large as what social security pays out today. In other words, you'd be a whole hell of a lot richer. SS guarantees you a low return on investment. Go back in history and do the math and you'll see that I'm right. Indeed, I collect SS myself It took me 45 years of payments of about 15% of wages. I also have a private pension plan that I contributed the SAME AMOUNT to for 26 years, (so just over half as long) and the private plan yields twice as much. This is not just a theory. It's reality.

I understand SS is not just about retirement. It has survivor and disability benefits, too, that many people never see, but the point is that a system in which you could oversee your own retirement would be vastly superior. It's true that some people are too stupid to deal with the intricacies, but there's no reason you could not establish an "auto-pilot" mode for folks who need it. In any event, we simply do not have the money to keep the system the same as it has been. You can gripe about it all you want, but if the money is not there, your wishes will not be fulfilled.

originally posted by: MOMof3
Go get it! And cut the bs, fail or succeed this is strictly republican and no history will be able to change that. Own it now and get it over with. The worst thing is the continual threats every election season.

Take some responsibility for your money.

If you have been running your own household, you have already been doing this. Husband manages aspects of his 401(k) and private management of your SS account wouldn't be much different.

The main difference would be that if you raid your account, then at least YOU know it was raided and you have only yourself to blame for it.

I'm already receiving SS benefits, so whatever the outcome of the new legislation, I sincerely doubt that existing recipients won't somehow be grandfathered in, after all, we aren't making any contributions.

Tax on SS income depends on other income - since the wife and I live only on our SSDI benefits without any other income, we pay nothing in taxes. Good thing too because even with Medicare additional insurance we're spending a third our income on medical expenses (but that's another story).

The ONLY thing that needs to be done to "fix" the Social Security system, is to remove the income cap on the tax.
When I was working, at some point in the year I'd get about a 7% raise because I'd paid out the maximum SS tax, which is collected only up to a certain income, right around $100K. So all the folks with larger salaries don't pay a dime more than the guy making $125K - my wife's former employer CEO pulls a $6 million SALARY plus bonus, only pays SS tax on $125K or so. Several years back, they took the income cap off of Medicare tax and started reporting it separately from SS tax. Now it's time to take the income cap off SS tax.

Of course, the congress needs to keep its' grubby hands off the money and stop "borrowing" from it to fund some other programs.

ganjoa

a reply to: CB328

Where was your outrage OP over Obamacare? It taxed the young people heavier to pay for medical care they most likely wouldn't need?


This is just more fake outrage because the Republicans are doing it. The fact of the matter is BOTH parties have destroyed the fund by raiding it and using it as a slush fund at their whim. People who work, pay into that fund every pay check for what, the government to steal from it? Not for nothing, but people on Medicaid get better health care than the elderly who depend on a system they paid into their whole life, yet people on Welfare, get better health care?

MAGA