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kentuck

(111,037 posts)

39. I don't see people saying they "don't care"...

Mon Jan 7, 2013, 05:24 PM

Jan 2013

I see people saying we need to fix it if we want it for your generation and beyond. We can spend our taxes on a defense industry or tax breaks for billionaires or we can spend just a small amount to fix Social Security. That is the argument I hear.

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Elementary Social Security. [View all] kentuck Jan 2013 OP

That's it, isn't it? That's why they hate it. LisaLynne Jan 2013 #1

Maybe you need to re-read a definition of insolvency. dkf Jan 2013 #2

The argument is that it is "no big deal" that younger workers won't collect in full. Romulox Jan 2013 #4

Well if a 25% cut is fine, then sure. dkf Jan 2013 #6

Bingo democrattotheend Jan 2013 #24

I don't see people saying they "don't care"... kentuck Jan 2013 #39

Which Democrats are advocating for even a small change in social security? dkf Jan 2013 #55

From some people, yes democrattotheend Jan 2013 #58

There will be plenty in the trust fund if we increase the amount of income subject to payroll taxes. JDPriestly Jan 2013 #54

Indeed... kentuck Jan 2013 #5

The fund would have whatever the FICA tax can generate. dkf Jan 2013 #8

It has never been a savings plan... kentuck Jan 2013 #11

It was created as an insurance plan that had hardly any paid beneficiaries at the time. dkf Jan 2013 #22

That may be true... kentuck Jan 2013 #25

They are supposed to put their money into the stock market or some other type of dkf Jan 2013 #31

This is an illusion... kentuck Jan 2013 #34

Again, you are kind of making the point why you might want to change it. dkf Jan 2013 #37

If you have ever been without food or shelter... kentuck Jan 2013 #41

If we want to talk about investment how's that $4 spent for the elderly and disabled for $1 for kids dkf Jan 2013 #47

What are you talking about? kentuck Jan 2013 #49

Our priorities are that the elderly and disabled are 4x as important as our kids as evidenced by our dkf Jan 2013 #56

Good idea on raising the cap. I oppose a chained CPI. JDPriestly Jan 2013 #63

dkf, many of the baby boomers have 401(K)s and other pension plans that invest in the JDPriestly Jan 2013 #60

It not only had fewer paid beneficiaries, it had fewer paying into it. JDPriestly Jan 2013 #59

Here is a more complete picture. dkf Jan 2013 #61

Major changes were made during the Eisenhower administration. JDPriestly Jan 2013 #69

What do you mean by equalizing the payout based on FICA contributions? democrattotheend Jan 2013 #27

That is how the program actually works. dkf Jan 2013 #33

Not sure I follow democrattotheend Jan 2013 #35

Yes you got it. dkf Jan 2013 #40

What level of benefit do you think you were promised, dkf? JDPriestly Jan 2013 #57

I don't think you understand the significance of the solvency of the SS fund. dkf Jan 2013 #72

You did not answer my question. JDPriestly Jan 2013 #73

You can check online for the estimate. But really SS isn't guaranteed. dkf Jan 2013 #75

Also, as I stated... kentuck Jan 2013 #7

You really want to argue a 25% cut is insignificant when people are devastated by 2% payroll taxes? dkf Jan 2013 #10

I did not say it was insignificant but... kentuck Jan 2013 #13

And it gets worse every year. dkf Jan 2013 #18

What promises made?? kentuck Jan 2013 #26

In writing based on the formulas used to calculate benefits. dkf Jan 2013 #44

How would they fund minimal living expenses for the elderly if they did not have the Social Security JDPriestly Jan 2013 #64

Who is proposing cutting it to 0%? democrattotheend Jan 2013 #36

Simpson Bowles proposed changing the bend points to make it more progressive. dkf Jan 2013 #45

"if Democrats didn't have a 'cold dead hands' approach." JDPriestly Jan 2013 #65

I'm talking about Democratic politicians. dkf Jan 2013 #70

When the economy improves as it will, more money will flow into the trust fund. JDPriestly Jan 2013 #74

Yikes. This is a BAD argument. "Only" a 25% cut for me is no large matter? Really? nt Romulox Jan 2013 #14

Would you prefer a 100% cut? kentuck Jan 2013 #19

As a millenial, that gives me little comfort democrattotheend Jan 2013 #32

I hope your mother lives to be 105. kentuck Jan 2013 #38

I think it would be cut 14% in 2036 if nothing is done democrattotheend Jan 2013 #42

"How did you go from 25 years to 60 years?" kentuck Jan 2013 #43

My mom is 55 now democrattotheend Jan 2013 #53

Don't worry. There is no crisis in Social Security. This is just Republican wishful thinking. JDPriestly Jan 2013 #66

Thanks for your comments, JDP.. kentuck Jan 2013 #67

That is not what the SS trustees say. former9thward Jan 2013 #76

Long-term, we need to raise the cap. JDPriestly Jan 2013 #77

So raise the cap and the trust fund balloons. JDPriestly Jan 2013 #52

It thought the extra funds were for the baby boomers Mojorabbit Jan 2013 #62

This message was self-deleted by its author truebluegreen Jan 2013 #71

Wages have been *stagnant* for over 30 years. People keep on talking about cases for SS that Romulox Jan 2013 #3

If you have 120 million people paying into the fund, instead of 130 million...? kentuck Jan 2013 #9

Right, but what we used to define as "full employment" may not be again achieved any time soon. Romulox Jan 2013 #12

Yes, we will need to adapt to new economic realities. kentuck Jan 2013 #16

You are very pessimistic. Just wait. Those of us who have lived a long time JDPriestly Jan 2013 #68

What do you think "broke" means? dkf Jan 2013 #15

If you were to be overcome by the outcome of your income...? kentuck Jan 2013 #17

And you have just made the argument for why Social Security needs to be changed. dkf Jan 2013 #20

It depends on your definition of "changed"... kentuck Jan 2013 #21

Anything with the word "change" is different from "leave it alone". dkf Jan 2013 #23

Many of us baby boomers are going to die off sooner than most peope think.. kentuck Jan 2013 #29

The only thing wrong with Social Security is that the Republicans didn't create it liberal N proud Jan 2013 #28

Well said! kentuck Jan 2013 #30

Well as long as you are not around when the trust funds deplete you may get your wish. dkf Jan 2013 #46

It's lasted for 75 years. kentuck Jan 2013 #48

Yep, that's part of the rethug plan. alberg Jan 2013 #50

You pay into the fund, I pay into the fund liberal N proud Jan 2013 #51