Assumptions are a little like the weather, you never know until it gets here. But ponzi schemes always collapse. - - - Updated - - - Oh but they will but not in the fashion of your assumptions.
LOL!!! You object that my post "has no bearing whatsoever to the discussion" and then you ask 3 questions that have no bearing whatsoever on the discussion. And your wording of the 4th question reveals that you have no idea what you're talking about. And this is not the first time. So you post previously and again here a pile of irrelevant questions and statements all dripping with intolerance in hopes of intimidating me into backing down and letting you off without a challenge. And why? -because you have no idea what you're talking about. It is obvious that you don't know how S.S. works or what the Trust Funds are. And you are incurious. Like Trump, you can't seem to bring yourself to ask questions and try to learn something because it might show there is something you don't know. You are now on "ignore".
http://www.pbs.org/newshour/making-sense/what-impact-would-eliminating/ Eliminating the SS tax cap that effectively exempts m/billionaires from this tax would make SS completely solvent indefinitely.
If Trump doesn't know what would make you think I would? - - - Updated - - - Thank you for clarifying you haven't a clue. Ignore all you want, means nothing to me.
PBS, all opinions paid for by the government. And no it would resolve nothing, nothing at all. What I love about statistics is you start with the conclusion, worthless otherwise no matter what you would like to have true.
No it wouldn't. The SS portion of FICA only applies to earned income, and without a cap the dude who made a million dollars a year consistently will be getting paid $200,000 a year in SS benefits. Private accounts are the only way to make SS solvent indefinitely. Completely eliminates income/wealth inequality, addresses just about every social justice there is, and we already have the perfect model of the government doing something more effectively than the private sector.
i agree that the way to solve it is to allow the private sector gains be allowed for SS and keep it private.
Why would the rich agree to provide us a living? We lived our lifes in the same conditions they did. Take Fred Shaheen for instance. I think he died so this is to Fred. Fred was the first very rich man who discussed this with me. i was then maybe 21. Fred was very generous. Fred had one son and the son grew up and also got rich. The son made it big building commercial buildings So how did Fred get rich? Fred's parents were immigrants. When in either grade school or early high school, his dad died. Fred was forced to start working since his mom was not then working. As a kid, Fred had to support his own family. Fred graduated at the top of his class. Fred was in the deep depression and was forced to work. To make a living, Fred and a relative opened a cabinet shop. Making cabinets for home owners. Fred grew up in Oakland CA before the blacks moved in. Fred eked out a modest living but the relative wanted Fred to buy him out. Fred bought him out and put him on the payroll as a worker. i met him as well and he was not rich. Safeway stores was Fred's path to wealth. When he became a millionaire in the 1950's, it was due to contracts he had with Safeway stores. Safeway bought shelving for the aisles from Fred and when i knew Fred, he had around 50 workers. Those who claim he was made by his workers do not know the suffering Fred endured for some years to make his company viable for Safeway to count on to buy shelving from. Fred told me his story at his company offices. I was at his home several times since i converted his sons brand new corvette to a very fast drag racer. His son had no business driving such a fast car on the highway and he wrecked the car. Nobody died when Roger crashed. Fred caught me by surprise by asking why i was determined to be in business. His story was to explain to me the rich do not get rich instantly when they work their way up the ladder. Fred explained his story when i as a then young guy asked him why he started his company. Fred at times treated me almost like his son. i am grateful he had so much to teach to a then young and ambitious guy. But there is more. i later met other rich people and they shared with me too. I thank all of them. Now you know why a then Democrat later made part of my life to study why be in any party. i was born a Democrat but studied to become a republican.
Why would the rich agree to provide us a living? We lived our lifes in the same conditions they did. Take Fred Shaheen for instance. I think he died so this is to Fred. Fred was the first very rich man who discussed this with me. i was then maybe 21. Fred was very generous. Fred had one son and the son grew up and also got rich. The son made it big building commercial buildings So how did Fred get rich? Fred's parents were immigrants. When in either grade school or early high school, his dad died. Fred was forced to start working since his mom was not then working. As a kid, Fred had to support his own family. Fred graduated at the top of his class. Fred was in the deep depression and was forced to work. To make a living, Fred and a relative opened a cabinet shop. Making cabinets for home owners. Fred grew up in Oakland CA before the blacks moved in. Fred eked out a modest living but the relative wanted Fred to buy him out. Fred bought him out and put him on the payroll as a worker. i met him as well and he was not rich. Safeway stores was Fred's path to wealth. When he became a millionaire in the 1950's, it was due to contracts he had with Safeway stores. Safeway bought shelving for the aisles from Fred and when i knew Fred, he had around 50 workers. Those who claim he was made by his workers do not know the suffering Fred endured for some years to make his company viable for Safeway to count on to buy shelving from. Fred told me his story at his company offices. I was at his home several times since i converted his sons brand new corvette to a very fast drag racer. His son had no business driving such a fast car on the highway and he wrecked the car. Nobody died when Roger crashed. Fred caught me by surprise by asking why i was determined to be in business. His story was to explain to me the rich do not get rich instantly when they work their way up the ladder. Fred explained his story when i as a then young guy asked him why he started his company. Fred at times treated me almost like his son. i am grateful he had so much to teach to a then young and ambitious guy. But there is more. i later met other rich people and they shared with me too. I thank all of them. Now you know why a then Democrat later made part of my life to study why be in any party. i was born a Democrat but studied to become a republican.
Every time privatization is brought up and liberals scream about Wall Street looting the SS Trust Fund I have a little chuckle. Of all the things government does extremely poorly, managing personal retirement investments is no one of them. I like to consider myself well above average when it comes to investing my money, yet the 8% my Thrift Savings Plan has consistently returned since 2009, in extremely conservative investments(mostly bonds) always keeps me humble. And the expense ratio is only 0.24, the lowest in the industry.
Nothing is wrong with SS except that some folks hate the fact that it exists and always have. We just choose to occupy the planet militarily rather than invest in our own society like all other advanced post u=industrial nations do. Qs for control of the fate of the citizenry? WE turned that over to the Wall Street/donor/"job creator" class with our representative government and our media machine once Clinton deregulated the FCC.
Bullshyte. FIGURE A Growth of real hourly compensation for production/nonsupervisory workers and productivity, 1948–2011 Note: Hourly compensation is of production/nonsupervisory workers in the private sector and productivity is for the total economy. Source: Author's analysis of unpublished total economy data from Bureau of Labor Statistics, Labor Productivity and Costs program and Bureau of Economic Analysis, National Income and Product Accounts public data series FIGURE B Growth of hourly productivity, real average hourly compensation, and real median hourly compensation (overall and by gender), 1973–2011 Note: Compensation is for production/nonsupervisory workers in the private sector, and productivity is for the total economy. Source: Author's analysis of unpublished total economy data from the Bureau of Labor Statistics, Labor Productivity and Costs program and Bureau of Economic Analysis, National Income and Product Accounts public data series http://www.epi.org/publication/ib330-productivity-vs-compensation/
The DoD budget is a substantial investment in our society. Largest employer in the world? DoD Largest employer of disabled Americans? DoD Largest purchaser of US made goods? DoD Not to mention that 18 year olds with a 100% disposable income are the economic basis for millions more, and in the poorest areas of the country. Defense spending increases employment, manufacturing, home ownership, education, the local prevailing wage, and unionization.
The DoD is non-productive investment. If that money were instead spent on infrastructure, clean energy, internet equal to that of other countries, etc., just as many people could be employed, and in the end we would have product that increases America's economic power. As is, from a productivity standpoint one could drag that stuff we build for the DoD (including stuff they didn't even want) and dump it in the ocean to create breakwaters.
I judge you Democrats by what you did, not what you say you will do You allege to have plans. Since 1932, for a fact you have controlled government for most of our lives. YES. Democrats using congress plus the presidency have long enjoyed the advantage of ruling government. Seldom has the republicans had enough power to fully craft laws. We are in charge today and though we try to get rid of the ACA it is not done with Democrats totally resisting us. Bear in mind that the OP does not state the enormous 90 trillion dollar deficit came instantly. It was a deficit long prior to 2090. It changes to the deficit i believe in the 2030s. But by 2090 it will smack you down. So please, enough telling me you have plans when it was your turn, you sat back and did nothing at all.
This reminds me of the bank robber that used up all of the money he stole saying to his gang, return to the bank and steal more money. Sure, if you think of the Bank as an endless sucker. We taxpayers see what is coming.
For those who see humans as discardable, maybe so. However, as long as we ensure there is really no chance of those born into poverty escaping that poverty, we're also creating a legacy that YOU (and I) will pay for throughout our lives.
By 2090, your android will be going to work for you and you won't have to retire. No - I'm not kidding.
Well, your android will be retiring you so you don't have to retire yourself. If someone can make a machine to work for you, there really isn't any need for you.
if Republicans want to kill Social Security, that is on them, but trust me, Americans like Social Security and will vote them out of office
which sadly is the view of many of the rich nowadays, they no longer have loyalty to employees or society it's not just being profitable.... it's being more profitable then the year before, even at the expense of employees and consumers Corporations will be our downfall in the long run, Corporate greed knows no bounds