Fixing Social Security

[Pastor Larry]

What do you think all of that new money is going to do to the financial markets?

Cause it to go up.

Do you realize that this would require that you pay a tax on every transaction at the point of sale? When I lived in Tennessee, we had an 8 3/4% sales tax. Now, imagine having an even higher percentage added to this. This wouldn't be deducted from your paycheck weekly/bi-weekly/monthly, it would be taken from you every single time you buy a good or service. That means you are paying more upfront.

Actually, I think paying "up front" is a better way. I think one reason why people don't understand how much they pay in taxes is because they never see it. Their employers just take it out. If every American had to write a check every week or month for their tax bill, I think there would be a revolt not unlike the Revolution. I don't think people realize how much they pay because they don't write the check for it.

Having said that, if we had a national sales tax, you would be paying more at the register, but you would be taking home more in your check. So everyone would get an instant raise.

 

[StraightAndNarrow]

Yje problem is that the money current workers pay into SS isn't their money. Iy belongs to retirees. I've paid into the sysyem for over 32 years and when I retire I expect to collect. Otherwise, I'd be glad to get everything I've paid in with 5% interest.

 

[swaimj]

I am glad that we have a president in office who has the GUTS to attempt to make fundamental changes in SS to make it solvent over the long-term and a true BENEFIT to future generations. If the president succeeds in establishing private accounts for just a small percentage of the current income into SS, when the generation that benenfits from those private accounts sees how RICH the accounts have made them and how much MORE WEALTHY they would have been if ALL the money had been invested, rather than just a portion, they will DEMAND that SS be completely privatized. Let us hope that Bush is able to take the first small step toward privatization and plant the seed for a reduction in the size of the federal government.

 

[billwald]

>How is not giving money to the government a government handout?

Because the net effect is the Govt borrowing money and giving to people to invest.

Without SS, the 25% of retired people who only have SS income and the 33% who substantially rely on SS would be on welfare.

Half of all credit card holders carry an average balance of $8,000. How can people this careless be expected to manage a retirement fund?

 

[Hardsheller]

Originally posted by billwald:
>How is not giving money to the government a government handout?

Because the net effect is the Govt borrowing money and giving to people to invest.

Without SS, the 25% of retired people who only have SS income and the 33% who substantially rely on SS would be on welfare.

Half of all credit card holders carry an average balance of $8,000. How can people this careless be expected to manage a retirement fund?

Well Bill we allow people who owe much more than this to run the country. It's not a sin or a crime to be in debt. You are to be commended for your personal thrift.

BTW, Who gets to spend it when you die?

 

[Pennsylvania Jim]

Fixing Social Security? No problem.

Shut down all other unConstitutional functions of the government, use the money saved to buy us out of the prorgram, and shut it down.

But, since the American people, including Christians, have turned to big-government socialism in their voting habits, it ain't going to happen any time soon.

 

[Pastor Larry]

Originally posted by billwald:
>How is not giving money to the government a government handout?

Because the net effect is the Govt borrowing money and giving to people to invest.

Without SS, the 25% of retired people who only have SS income and the 33% who substantially rely on SS would be on welfare.

But that is still not a government handout. And cancel welfare. People need to learn to manage their money. This is not a nursery school.

Half of all credit card holders carry an average balance of $8,000. How can people this careless be expected to manage a retirement fund?

IT is actually very easy. Require them to put away the 15%. There is no real money management involved. As anyone in this stuff knows, you put it in something and let it ride. You don't buy and sell and keep moving it around chasing the market. Many 401Ks are this way. The employer gives a selection of funds and investments from which the worker can choose. He chooses. The money goes there right from the check and Voila ... You have a retirement program for when you turn at least 59 1/2.

You complain that the government would be borrowing money. They are doing that already. They are giving more and more money that was never paid in. You cannot keep going that way.

 

[Hardsheller]

Originally posted by Pennsylvania Jim:
Fixing Social Security? No problem.

Shut down all other unConstitutional functions of the government, use the money saved to buy us out of the prorgram, and shut it down.

But, since the American people, including Christians, have turned to big-government socialism in their voting habits, it ain't going to happen any time soon.

Once again - no rational or realistic ideas. Just Radical CP Blather.

 

[Pennsylvania Jim]

Go stick your head in a bucket.

 

[Hardsheller]

Originally posted by Pennsylvania Jim:
Go stick your head in a bucket.

Good one!

 

[Pennsylvania Jim]

It was rather witty, wasn't it?!

 

[billwald]

Bottom line is there will be no substantial tax reform because a voting majority like things the way they are. Who?

1. The dope sellers, the Mafia, the gamblers, and all craftsmen who work sub rosa. Half the economy is under the table - tax free.

2. The retired people always vote and they like SS the way it is.

3. The young people almost never vote. When the 18 year olds got the vote I though they would lower the drinking age and vote in marijuana. They have had nomeffect on any election.

4. Public employees and people on the dole like things the way they are.

 

[Ed Edwards]

Originally posted by Pennsylvania Jim:
Go stick your head in a bucket.

Please write an essay on
the duty of the United States government
to provide each citizen (and all non-citizens
who care) the bucket

 

[Ed Edwards]

Cut to the chase, Brother Billwald:

The U.S. government should disband all entitlement programs
save the ones to which i am entitled.

 

[dianetavegia]

Originally posted by Pennsylvania Jim:
It was rather witty, wasn't it?!

Can you SAY that to a preacher and still go to heaven?

 

[Pennsylvania Jim]

 

[KenH]

Originally posted by billwald:
2. The retired people always vote and they like SS the way it is.

But if it isn't fixed, then come 2018 there will be drastic changes made to it and/or a major economic disaster.

Somehow, I can't fathom that retired people don't care what happens to their children's and grandchildren's finances, nor that they want their SS check to be cut in half starting in 2018.

 

[StraightAndNarrow]

Originally posted by swaimj:
I am glad that we have a president in office who has the GUTS to attempt to make fundamental changes in SS to make it solvent over the long-term and a true BENEFIT to future generations. If the president succeeds in establishing private accounts for just a small percentage of the current income into SS, when the generation that benenfits from those private accounts sees how RICH the accounts have made them and how much MORE WEALTHY they would have been if ALL the money had been invested, rather than just a portion, they will DEMAND that SS be completely privatized. Let us hope that Bush is able to take the first small step toward privatization and plant the seed for a reduction in the size of the federal government.

In your proposal, who pays Social Security for the Baby Boomers if it is completely privatized. As I've said before, just give me the monet I've paid in for 32 years with 5% interest and I'll be happy. Where is that going to come from?

 

[billwald]

1. Medicare has 10 times the unfunded liability of SS. Why the push to mess with ss and not Medicare?


The payroll tax goes into the same pot as the income tax and other taxes. Why will SS go broke and not the Army or the Navy?

 

[Scott J]

Who said the army and navy won't?

We are headed for significant problems. We are quickly becoming a non-manufacturing country. Private and government debt is tied to our expected ability to cover it. How long before someone wakes up and notices that we aren't generating wealth through value added processes anymore?