I can tell you exactly how it will be fixed. Right now, receipts exceed disbursements. When disbursements exceed receipts (predicted to be some 40 years from now), taxes will be raised, most likely on the wealthy. Problem solved.
Bush's attempt, though it had its problems, was a courageous attempt. He tried to do something now, as opposed to just leaving it to future generations, as the above scenario I mention.
raising taxes doesnt solve problems. it creates them
raising taxes doesnt solve problems. it creates them
I agree. Our government isn't dependable enough to tax without over taxing/spending/wasting. I also agree that Bush's plan had merits to it. Wait, isn't agreeing with Bush like signing your own death sentence around here?
I agree. Our government isn't dependable enough to tax without over taxing/spending/wasting. I also agree that Bush's plan had merits to it. Wait, isn't agreeing with Bush like signing your own death sentence around here?
yes, that or defending Israel, or saying El Queda was behind 9/11.
You are right in that it will be saved; it would be political suicide for anyone to allow it to stop paying out benefits after people pay into the system for 40+ years. It won't happen.
Right now, SSI is in the black. The receipts exceed disbursements and so it continues fine. As I mentioned above, the way SSI funds is that SSI taxes are paid into the General Fund and the receipts receive payments from taht same fund. To increase SSI taxes now would only increase the perceived "surplus," to be spent/squandered elsewhere. Since the gov't is today in deficit, we already see this happening.
What will happen is that when SSI's disbursements exceed receipts, taxes will be raised. It's the way it funds and the way it works. Today's payign employees pay for today's receiving entitlements.
in addition - Social Security was profitable for many many years - and the proceeds could have been invested.. but rather were used on other government priorities.
perhaps the time has come to pay it back.
It it time to jettison it. Time to quit throwing good money after bad. As of now, we'll pay for people who were born before 1960. Everyone else needs to smarten up and manage their own futures. If the government hadn't created an entitlement class under FDR we wouldn't be in this fucking mess. One of the many things FDR fucked up. If people had put the same investments into private equity vehicles that they were forced to put in to the SS system, they'd be able to comfortably retire. Now, their SS pmt will barely cover toilet paper and a six-pack of Natty Light each week.
"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
in addition - Social Security was profitable for many many years - and the proceeds could have been invested.. but rather were used on other government priorities.
perhaps the time has come to pay it back.
Anyone who thought the gov't could be trusted with their money was fooled. Anyone who freely and happily gives is delusional. Pay it back? With what? I'm part of the cut and run camp. For the same reason we should be done in Iraq, we should be done with Social Security. We can't win this war.
"I'll use the magic word - let's just shut the fuck up, please." EV, 04/13/08
in addition - Social Security was profitable for many many years - and the proceeds could have been invested.. but rather were used on other government priorities.
perhaps the time has come to pay it back.
This demonstrates a misunderstanding of how SSI works. SSI is not an investment, it's a tax. We pay taxes today to fund the recipients of today. That's it, that simple. Any "surplus" is political talk of how receipts are currently exceeding disbursments.
Comments
I agree. Our government isn't dependable enough to tax without over taxing/spending/wasting. I also agree that Bush's plan had merits to it. Wait, isn't agreeing with Bush like signing your own death sentence around here?
in addition - Social Security was profitable for many many years - and the proceeds could have been invested.. but rather were used on other government priorities.
perhaps the time has come to pay it back.
Fuck an A!
Anyone who thought the gov't could be trusted with their money was fooled. Anyone who freely and happily gives is delusional. Pay it back? With what? I'm part of the cut and run camp. For the same reason we should be done in Iraq, we should be done with Social Security. We can't win this war.
This demonstrates a misunderstanding of how SSI works. SSI is not an investment, it's a tax. We pay taxes today to fund the recipients of today. That's it, that simple. Any "surplus" is political talk of how receipts are currently exceeding disbursments.