It is my belief the GOP aims to steal our Social Security fund and, just wait, the $60B Post Office retirement benefit fund to either balance their lopsided budget or just plain apply it to a pet project of their own such as the Southern Wall or the expansive military.

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Roland de Brabant's picture
Roland de Brabant 50 weeks 2 days ago
#1

Your fears are sound, Jessie, but there is more to it than that. Eliminating OASDI has been the Holy Grail of Republicans for eighty years. It bothers them because allowing serfs to have decent lives in old age offends their sense of propriety. They long for the Gilded Age when it was great to be rich and lousy not to be so. Of course, there is a real chance of their overshooting and taking us back to the Sixteenth Century if not the Eighth Century before they extinguish all human life.

Roland

zapdam's picture
zapdam 50 weeks 2 days ago
#2

Great answer Roland and as usual your spot on and eloquent.

gumball's picture
gumball 50 weeks 1 day ago
#3

There is nothing in the ss trust fund to "steal", it is comprised of debt. Also known as treasury bonds.

zapdam.'s picture
zapdam. 50 weeks 1 day ago
#4

Gimpbal typical comment from you ,hysterical lies.

" At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013." Wikipedia

"Excess funds are used by the government for non-Social Security purposes, creating the obligations to the Social Security Administration and thus program recipients. However, Congress could cut these obligations by altering the law. Trust Fund obligations are considered "intra-governmental" debt, a component of the "public" or "national" debt. As of June 2015, the intragovernmental debt was $5.1 trillion of the $18.2 trillion national debt."

Social Security is predicted to start running out of having enough money to pay all prospective retirees at today's benefit payouts by 2033.[102]

Lift the payroll ceiling. The payroll ceiling is now adjusted for inflation.[103] Robert Reich, former United States Secretary of Labor, suggests lifting the ceiling on income subject to Social Security taxes, which is now $118,500.[104]
Increase Social Security taxes. If workers and employers each paid 7.6% (up from today's 6.2%), it would eliminate the financing gap altogether. This 1.4% increase (2.8% for self-employed) has over 60% support in surveys conducted by the National Academy of Social Insurance (NASI).[105]
Raise the retirement age(s). Raising the early retirement option from age 62 to 64 would help cut down on Social Security benefit payouts.[citation needed]
Means-test benefits. Phase out of Social Security benefits for those who already have income over $48,000/year ($4,000/month) would eliminate over 20% of the funding gap. This is not very popular, with only 31% of surveyed households favoring it.[105]
Change the cost-of-living adjustment, COLA.[citation needed]
Reduce benefits for new retirees. If Social Security benefits were reduced by 3% to 5% for new retirees, about 18% to 30% percent of the funding gap would be eliminated.[citation needed]
Average in more working years. Social Security benefits are now based on an average of a worker's 35 highest paid salaries with zeros averaged in if there are fewer than 35 years of covered wages. The averaging period could be increased to 38 or 40 years, which could potentially reduce the deficit by 10 to 20%, respectively.[citation needed]
Require all newly hired people to join Social Security. Over 90% of all workers already pay FICA and SECA taxes, so there is not much to gain by this. There would be an early increase in Social Security income that would be partially offset later by the benefits they might collect when they retire. Wikipedia

gumball's picture
gumball 50 weeks 1 day ago
#5
Quote zapdam.:Gimpbal typical comment from you ,hysterical lies. " At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013."

Ummmm, you call it "hysterical lies" and then proceed to post a source that says the exact same thing I said?

Roland de Brabant's picture
Roland de Brabant 50 weeks 1 day ago
#6
Quote zapdam.:Gimpbal typical comment from you ,hysterical lies. " At the end of 2014, the Trust Fund contained (or alternatively, was owed) $2.79 trillion, up $25 billion from 2013." Wikipedia "Excess funds are used by the government for non-Social Security purposes, creating the obligations to the Social Security Administration and thus program recipients. However, Congress could cut these obligations by altering the law. Trust Fund obligations are considered "intra-governmental" debt, a component of the "public" or "national" debt. As of June 2015, the intragovernmental debt was $5.1 trillion of the $18.2 trillion national debt." Social Security is predicted to start running out of having enough money to pay all prospective retirees at today's benefit payouts by 2033.[102] Lift the payroll ceiling. The payroll ceiling is now adjusted for inflation.[103] Robert Reich, former United States Secretary of Labor, suggests lifting the ceiling on income subject to Social Security taxes, which is now $118,500.[104] Increase Social Security taxes. If workers and employers each paid 7.6% (up from today's 6.2%), it would eliminate the financing gap altogether. This 1.4% increase (2.8% for self-employed) has over 60% support in surveys conducted by the National Academy of Social Insurance (NASI).[105] Raise the retirement age(s). Raising the early retirement option from age 62 to 64 would help cut down on Social Security benefit payouts.[citation needed] Means-test benefits. Phase out of Social Security benefits for those who already have income over $48,000/year ($4,000/month) would eliminate over 20% of the funding gap. This is not very popular, with only 31% of surveyed households favoring it.[105] Change the cost-of-living adjustment, COLA.[citation needed] Reduce benefits for new retirees. If Social Security benefits were reduced by 3% to 5% for new retirees, about 18% to 30% percent of the funding gap would be eliminated.[citation needed] Average in more working years. Social Security benefits are now based on an average of a worker's 35 highest paid salaries with zeros averaged in if there are fewer than 35 years of covered wages. The averaging period could be increased to 38 or 40 years, which could potentially reduce the deficit by 10 to 20%, respectively.[citation needed] Require all newly hired people to join Social Security. Over 90% of all workers already pay FICA and SECA taxes, so there is not much to gain by this. There would be an early increase in Social Security income that would be partially offset later by the benefits they might collect when they retire. Wikipedia

Hey Zap, why waste time with the village idiot?

The Old Age and Survivors funds are sounder than the Dollar. The Disability fund has problems for two reasons. First, disability claims increase during periods of high unemployment and the US has experienced high unemployment for the past forty years, particularly the last thirty. Second, SSI has no dedicated funding. This is a common Republican tactic; they will allow a Welfare program only if we allow them to sabotage it first.`

Roland

Gibbon 50 weeks 7 hours ago
#7

Yes, the repub-Lick-an party (a party of licking their golden masters, while subservient and naked upon their knees. I count on these elements to procure my republican slave women for obedient sex…) is comprised of fools and ideologues who are incapable of extrapolating a concept toward the future. They kill themselves with ignorant suicide.

Before that I choose to ravish their hot young bodies (& save my good girls for a better future). C'mon Diane I know you'll love my whip.

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