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Mon Nov 26, 2012, 03:09 PM

Nothing will take Social Security off the table

Kevin and I have disagreed on this for years, but what the hell would pundits talk about if not the need for entitlement reform.

On Social Security, I continue to hold the unpopular view the liberals would be well served if they could make a deal. Raise the income cutoff to get more revenue, change the inflation formula to cut benefits a bit, toss in a few other smallish items that would be phased in over 20 years, and you're done. Social Security would be off the table for decades.


Nothing will take Social Security off the table for decades. They could cut benefits in half and extend the expected solvency of the program for 12 trillion years, and the Washington Post would be back the next day informing us that this was a good down payment, but much more "reform" needs to happen blah blah blah.

They really do want to starve your granny.

http://www.eschatonblog.com/2012/11/nope.html

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Response to phantom power (Original post)

Mon Nov 26, 2012, 03:15 PM

1. "cut benefits a bit" - like cut welfare corporate military ...a lot nt

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Response to phantom power (Original post)

Mon Nov 26, 2012, 03:18 PM

2. as time goes on, don't the demographics and politics get better for us?

there will likely be more seniors and more democrats ten years from now.

not that kicking the can down the road is always a great idea, but in this case we might get a better deal later.

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Response to phantom power (Original post)

Mon Nov 26, 2012, 03:18 PM

3. They don't want to pay it back!

The total attack on SS is because it's about to start contributing A LOT to the budget. As long as they could take the surpluses and spend them things were great. Now that reality has set in and SS will become outlays they want to end it. And doing so would be the greatest THEFT from the American people in history.

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Response to al_liberal (Reply #3)

Mon Nov 26, 2012, 03:38 PM

4. Yep. This upcoming and predictible theft will be bigger than the bailout for the banksters.

 

There's too much money at stake for them to not take it.

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Response to al_liberal (Reply #3)

Mon Nov 26, 2012, 03:59 PM

5. Indeed. As the securities in the SS trust fund get redeemed the money has to come from somewhere...

and that somewhere is higher taxes. The less Social Security has to pay out the less
trust fund securities have to be redeemed and the less revenue the government has to
raise.

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Response to phantom power (Original post)

Mon Nov 26, 2012, 05:14 PM

6. Change the inflation formula...

surely this jerk jests....The COLA increase this year will be 1.7% for 2013. They changed the formula years ago which is why food and fuel are not included. Funny how they think seniors neither eat nor drive.

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Response to Sekhmets Daughter (Reply #6)

Mon Nov 26, 2012, 05:37 PM

7. Years ago wasn't that when they "temporarily" raised our SS taxes to pre-fund

our Baby Boomer bulge in the retirement population?

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Response to Vincardog (Reply #7)

Mon Nov 26, 2012, 06:13 PM

8. No, they raised the taxes first, then changed the COLA later when they thought nobody was looking.

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Response to Vincardog (Reply #7)

Tue Nov 27, 2012, 09:52 AM

9. I don't know that anyone

expected it to be temporary. What they absolutely didn't expect is that corporate America would go on a mission to bankrupt the middle class by keeping wages stagnant for 30 years. The SS Trust Fund would be spitting $10. gold pieces if wages had kept up with productivity.

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