Easy cure for the Social Security issue..This is a no brainer.

[Texacon]

https://www.democraticunderground.com/100212041384

Peacetrain (16,833 posts)


Easy cure for the Social Security issue..This is a no brainer.

 
. lift the caps... and stop cutting the taxes for the top 1/2 of 1 percent..no need to limit anyone's benefits.. and to all who are younger than me.. we went through this same issue in the 80's and I was in my 20's... and we lifted the caps to 110,000 I think.. is the top.. could be wrong about that.. but it is not that high.. any money you make after that cap top you pay no SS taxes.. just lift the damn caps.. because you sure as hell do not want Grandma and Grandpa moving in with you because their benefits got cut.. and the one group we are all destined to become a part of if no illness or accident or crime takes us away is that of the elderly.. that gray haired old fart that is driving you crazy in the line at the store etc.. that is your future.. it sure sneaks up on you fast too.. trust me.. I am flabbergasted about how fast time went..

moose65 (956 posts)

1. I think the ceiling increases a little each year

For 2019, it's almost 133,000.

I support lifting that, but we also have to remember the reason the cap is there - we didn't want millionaires to be collecting Social Security checks of 10,000 a month or more. If the cap is lifted, we also have to ensure that the maximum possible benefit isn't tens of thousands of dollars a month!

Ok, here is the reason I brought this over.  From the SMARTEST people on the internet ...

Peacetrain (16,833 posts)

2. I understand what you are saying.. but if you contribute you should be able to

get your SS.. its a defined benefit program, its something we choose to pay for.. You do not have to pay into SS if you are self employed etc.. its great program..never meant to be the entire retirement but for some it is.. that is just a fact.. so I am okay with it if the ultra rich pay in with a percentage of their income they get their SS .. we need to get away from the idea that it is a charity like the republicans are trying to promote.. thank you for the update on the amount.. 133 thousand..good to know

Wow!  I begged SS to let me out in the 90's and there was no way to get out unless I could prove I was Amish!  I was self employed for 20 years and not only do you have to pay in, you have to pay BOTH sides of it.  Damn near 15% of your taxable income.  I don't know who told this DUmmie self employed people don't have to pay in, OR that it is something we CHOOSE to do, but I can promise the DUmmie that just ain't so.

New thread ... wonder if it will grow.

KC

[franksolich]

Well, a primitive corrected the record.

pangaia (20,813 posts)      Tue Apr 23, 2019, 02:33 PM

6. " You do not have to pay into SS if you are self employed etc. " "its something we choose to pay for

Oh, really?

Unless I misunderstand what you are saying---

- you are self-employed you have to pay the entire amount instead of half.
- it is not something someone can CHOOSE to pay for...

[Texacon]

Well, a primitive corrected the record.

Be interesting to see where that goes.

KC

[Texacon]

And another genius joins the fray.

denbot (7,275 posts)

8. If corporations are people too..

They should also pay into social security.

KC

[Texacon]

These people.  The liberals.  Always, ALWAYS, their solution is to get someone else to pay more money rather than looking to what the real problem is.  People who are scamming the system are a huge drain, and they won't admit it.

I propose something quite different.  Let the government hire me and a group of my choosing to audit those who are drawing SS for reasons other than retirement.  We will work for a percentage saved thereby costing the taxpayer nothing.

I would do the same with food stamps and welfare.  I have zero issue working on a 'commission' type basis and I think this would be quite lucrative for me and my merry band.  Let the DUmmies argue against that.  If there isn't much fraud, as they like to claim, I would think I would be broke in short order and they wouldn't have to worry with me anymore.

KC

[thundley4]

I support lifting that, but we also have to remember the reason the cap is there - we didn't want millionaires to be collecting Social Security checks of 10,000 a month or more. If the cap is lifted, we also have to ensure that the maximum possible benefit isn't tens of thousands of dollars a month!

These DUmmies really want SS to become another form of welfare which it would be if some people are forced to pay more, yet not get a larger benefit.

DUmmies always want something for nothing at someone else's expense.

[Old n Grumpy]

Maybe quit giving it out to those who never paid in would be a good start as well.

[USA4ME]

When you don't pay taxes (looking at you, primitives), it's not unusual to learn that you also don't know the current tax codes.

.

[landofconfusion80]

It's easy to see if a "retirement " program is viable. Just let people decide if it's in their financial best self interest to stay in it or not. Just put a little check box on those w2s to let you opt out or not. Pretty easy.

[Texacon]

It's easy to see if a "retirement " program is viable. Just let people decide if it's in their financial best self interest to stay in it or not. Just put a little check box on those w2s to let you opt out or not. Pretty easy.

Man the things I could have done with that money for MY retirement!  Nope. I had to give it to people who know better “what’s in MY best interest”, yet I have zero control over my money.

I’ll tell you the money I’ve invested on my own has performed FAR better than what the government will give me in return.

KC

[fatboy]

I just upped my contribution to my 401k and opened up a ROTH IRA. So if I continue to work another 10 years, until I'm 70 then I should have enough to squeak by. That along with Mrs. fatboy teachers pension, her 403b and another IRA that I've had a while plus the max SS benefits that the kids of todays DUmmies will finance.

Hopefully the market stays strong and inflation stays in check.

[landofconfusion80]

I just upped my contribution to my 401k and opened up a ROTH IRA. So if I continue to work another 10 years, until I'm 70 then I should have enough to squeak by. That along with Mrs. fatboy teachers pension, her 403b and another IRA that I've had a while plus the max SS benefits that the kids of todays DUmmies will finance.

Hopefully the market stays strong and inflation stays in check.

Theres a fantastic milton Friedman discussion about inflation out there. Of course hes talking Carter era stuff, but the rules still apply. As for the strong market wish, that's a double edged sword. You need soft markers (and the capital) to grab those bargains. It takes some serious intestinal fortitude but buying low really gives that investing rubber band a much greater distance to stretch. Hope you're moving some of those recent gains into some diverse ETFs as well

[SVPete]

So, raping the rich will fund:

* Social Security;

* AOC's GND;

* Fauxcahontas' free-college-for-all;

* Medicare-for-all;

* Reparations;

* Guaranteed minimum income and other social programs.

IOW, the $$ extracted from The Rich would be spent 6 times - one-time $$ for six ongoing programs. And DU-grade Libs 'n' Progs can't and won't see the multiple reasons why that cannot work! Because ENVY.

[FiddyBeowulf]

I propose something quite different.  Let the government hire me and a group of my choosing to audit those who are drawing SS for reasons other than retirement.  We will work for a percentage saved thereby costing the taxpayer nothing.



KC

Government would find a way to bloat it up and make it a permanent bureaucracy that costs more money than it saves. 

[FlaGator]

An easy cure for Social Security issue, everybody pays in and then we kill all undesirables right before they reach retirement age.

[Texacon]

So, raping the rich will fund:

* Social Security;

* AOC's GND;

* Fauxcahontas' free-college-for-all;

* Medicare-for-all;

* Reparations;

* Guaranteed minimum income and other social programs.

IOW, the $$ extracted from The Rich would be spent 6 times - one-time $$ for ongoing programs. And DU-grade Libs 'n' Progs can't and won't see the multiple reasons why that cannot work! Because ENVY.

No truer words.  Not to mention talking about 'Taxation without representation!'  Damn. 

But wait!  Look at this, from another thread on the SS boondoggle (Ponzi Scheme);

Hoyt (37,264 posts)

28. Raise the cap, there goes another 12 percentage points of taxes that we need for things

Last edited Tue Apr 23, 2019, 09:46 PM - Edit history (1)

like healthcare, education, job retraining, guaranteed income for those displaced by technology, Deficit reduction, Debt reduction, infrastructure, safe net, etc.

Taxes need to be increased on wealthy, no question. But this belief that all we need to do is keep increasing taxes on the wealthy is a fallacy. There are not enough of them to tax.

https://www.democraticunderground.com/100212041751#post28

Hoyt better watch it, he's on thin ice with thinking like that.

KC

[Wineslob]

DUmmies, the real reason(s)  People take SS for longer than the amount they pay into it.  Example DUmdasses:  If you paid into the system to get, we'll say $1500 a month, but there's only enough in your account to maintain that for 10 years. However you live 10 years beyond that, guess what, YOU STILL GET THE MONEY.
      AND
Dems have been raiding it.

[Ralph Wiggum]

And another genius joins the fray.



KC

Wow.  The stupidity burns with that DUmmy.