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All-TigerNet [12113]
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All-In [25498]
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Now figure in the illegals...***
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May 25, 2024, 8:09 AM
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All-TigerNet [13407]
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lost cause. Cannot be saved.***
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May 25, 2024, 8:13 AM
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All-TigerNet [13099]
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Yes, maybe or no?
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May 25, 2024, 9:01 AM
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The can will continue to be kicked down the road as neither Trump nor Biden have any plan to alter the status quo.
A crisis will needlessly arise and will be dealt with ultimately because so many seniors depend on SS for the majority of their income which is absolutely astounding to me.
The triad of SS, pensions and personal savings has rapidly given way to SS alone and some paltry savings.
Senior poverty is a real thing and will explode in the future if nothing is done.
Change in SS will come, but it will be much more painful.
Younger folk will probably have reduced benefits in the future. Payroll and personal taxes will eventually increase and probably dramatically.
Seniors vote, so they will probably be all right. Others will face the consequences of continued and reckless inaction.
The third rail needs to not only be touched, but firmly grasped.
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All-Conference [416]
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Trump has said hes open to cutting entitlements
May 25, 2024, 12:25 PM
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and while president he put forth a budget that included cuts to parts of social security, albeit not the retirement piece which is the biggest. I would not trust that he would not do anything to change the status quo. He will sign whatever his MAGA allies tell him to sign.
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110%er [5028]
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Re: Can social security be saved?
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May 25, 2024, 9:03 AM
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Sure it can but every time in the past Republicans, who used to care about such things even suggested reforms we had to hear left wing trash tell everyone they wanted old people eating dog food. Now they don't even bother so enjoy it while it lasts.
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Heisman Winner [113140]
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Re: Can social security be saved?
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May 25, 2024, 9:16 AM
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OF course, it can. Eliminate the cap so that money over 120K gets taxed for SS, and collect SS from the .1% who own over 30% of the wealth in this county and don't pay payroll tax. These people contribute next to nothing, except for donations to politicians.
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Legend [17761]
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You are SO wrong, they can buy judges too!***
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May 25, 2024, 11:26 AM
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All-In [32108]
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How does raising the cap save SS? The payout would also have to be...
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May 26, 2024, 3:10 PM
[ in reply to Re: Can social security be saved? ] |
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increased in-kind. If not, it would not be a retirement program but another wealth transfer.
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110%er [7639]
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Re: How does raising the cap save SS? The payout would also have to be...
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May 26, 2024, 4:15 PM
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Most truly wealthy people are, at the least, reasonably savvy.
They know that SS is not run as a savings plan, but rather as a Ponzi scheme. Our govt won’t admit this, same as they don’t admit to the truth for miriads of other govt programs and policies. Our govt does, however, put enough window dressing with how they run and administer SS to passify much of the voting populace.
I’d wager that everyone here on the TNet politics board knows this.
Back to your question. Because the truly wealthy are so few (which = very few votes), and because the SS benefits to which they are entitled will be a very small % of their retirement budget, the ‘truly wealthy’ demographic can be legislatively forced to ‘eat it’ and pay taxes on SS far far beyond what they’ll eventually receive in SS benefits.
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All-In [32108]
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The 2024 cap is $168,600. I think it's fair to say that a LOT of ppl...
May 28, 2024, 8:22 AM
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that don't consider themselves truly wealthy people would be impacted if the cap is raised and corresponding payout is not increased in-kind.
If the cap is raised and all but the uber wealthy have their benefits increased, there would be little-to-no impact on the long-term solvency of the program.
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Oculus Spirit [98614]
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Sure it can. Just roll it back to what it was when conceived
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May 25, 2024, 9:30 AM
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And then it would be nothing like we consider it to be or have been told it is.
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Orange Blooded [2303]
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SS can easily be saved. The math is simple....
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May 25, 2024, 12:17 PM
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The real question is "can it be improved?"
I would hope that both parties sit down and have good faith talks about how to strengthen SS for the long haul.
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All-In [25498]
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Most intelligent response I recall from you since your arrival... TU.***
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May 26, 2024, 12:04 AM
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Orange Blooded [2303]
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I'll take that as a compliment :-)....
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May 26, 2024, 8:15 PM
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Every now and then, the two parties get together and do the right thing. We need more of that, not less.
Social Security, like it or not, is an extremely popular program with the broader public. It should be preserved, protected, and improved.
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All-In [34429]
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Interesting ideas in there. One comment:
May 26, 2024, 3:59 PM
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The proposal projects the $100k increasing by 3.5% over 65 years, but that's only slightly more than the historical inflation rate over the past 100 years. Which means that the beneficiary will end up with far less than the $900k payout, in real dollars. Instead, it would be something like 0.2% per year adjusted for inflation, which (someone tell me if I screwed up this math) about $362k.
Not terrible but not the 9x payout described.
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All-TigerNet [11153]
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no and it shouldn't be. Commie program from the start.***
May 26, 2024, 7:32 PM
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110%er [9300]
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Re: Can social security be saved?
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May 27, 2024, 11:53 AM
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yes, taxes will be raised to pay for it
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110%er [7639]
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Re: Can social security be saved?
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May 27, 2024, 9:26 PM
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- - - whether the taxpayers like it or not.
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All-In [48473]
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If I just had the option to be refunded what I've paid into it I would
May 28, 2024, 8:30 AM
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be thrilled.
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