The RICH are costing Social Security $150 Billion a year.

7. Make paying into social security voluntary.

It's a garbage idea in the first place, but at least making it voluntary will allow the nitwits who claim it's a great idea to continue paying into it.

 

Ignoring the fact that you have errors in your post, THE POINT IS that Distraff didn't raise any of that and I was discussing his post. But you want to expand the subject that he covered so you can find something to argue over. Goodbye.

 

"So does it" WHAT? You seem to often lose track of what you're saying mid-sentence like that and it makes it hard to be sure of what you're saying.

No, you don't have to do anything in this life but die.

And your mother should make you some cookies.

 

You seem to have difficulty understanding several things

So you think SS should just screw other people so you can have yours?

I wish she could.

 

You ssid "wey, yet you want fellow taxpayers to subsidize your portion.

When you said "we" you really mean "you".

 

BS. You know exactly what he meant

 

Then the gov should invest it and gain interest, not spend it and owe interest

 

Because people deserve to live beyond their means, enjoying lots of luxuries, and get their hands on your money too.

 

Then you should have your citizenship revoked. That is not how our society works. The ONLY thing about taxation that should matter is how fair it is.

 

tenth amendment toots. Go beg your state government to pay for your upkeep. I couldn't care less about you.

 

As long as they get paid back at a comparable rate, and the remainder of what's left at their death goes to their family, then fine.

 

Mix of stuff except for employment income.

Tell me about it.

But, I don't get taxed AT ALL on the growth of my net worth.

This is GROSSLY oversated.

There is plenty of money to borrow. And, outside of some exceptions business expansion comes from borrowing rather than personal wealth.

Their profit is listed as more than $11B, up from $6B for 2017.

Finding enough writeoffs to eliminate taxes on $11B is a pretty darn good trick - especially since they aren't oil companies that get to write off new wells as if they are business startups - LOL.

 

Well, I didn't say anything about trust funds or T-Bills. And, I would suggest nothing but the most general concepts of money management.

I think you may be referring to a different poster - no big deal.

 

imo, SS should be run more like insurance, with how much one receives having more to do with need than it does today.

The system wasn't designed to solve the "problem" of people retiring to live on $150K / year income.

 

No, I'm not your congressman and I'm not your governor or your president - who declared a national emergency and then bugged out to Fllorida to add to hs already more than 200 presidential vacation days!!

It is congress that decides how much money various agencies get, with th president having somee latitude.

And, I have no ideat what it is about me that you think is being "subsidized".

 

As long as you get his money.
He needs his rates raised since you're such a big fan

Edited for correction

 

Every time someone pays higher rates than you, you get subsidized for every service the government provides. Further you like it this way and want folks to pay even more.

You love the services and you love the fact that others have to pay higher rates for the same services

 

One cannot invest in oneself.
The money belongs to the government. When the gov spends it's own money and pays itself back, there is no investment. There is a loss of revenues coming into the right pocket being transferred back to the left pocket from which it came, plus interest. Nothing is gained

That's like you spending fifty grand from a non interest bearing bank account, then paying yourself back plus interest, depleting your future revenues by that sum. Your revenues are depleted by your monthly payment back to your account until the principle plus interest are paid. In the end there is no gain.

Now if you gave that $50g to me(an outside entity) and I paid you back with interest, you would actually earn money through investment

 

The money we send in goes into the SS trust fund. There is reserve money and in 2017 there were surplus funds added to that, they broke about even for 2018 the preliminary reports say. So where should that money, almost $3 trillion, be invested? It's a relatively simply question. Or should they put cash on a pallet and store it in Ft. Knox? That's what retirement systems do they take the contributions and invest them, they don't sit on cash. So those trillions of reserves have to be somewhere........where? Where do you want to keep it?

 

An account of the of the government.

You cannot borrow from yourself and call it investment

 

Your complaining about how the government handles the SS money, the surpluses and reserves. I explained how they do it. What would you do different, what would you do with all that $3 trillion in cash, where would you put it?

 

So you don't pay FICA because you do not have earned income. But can you be more specific? Rental income, capital gains, if it's a small business you are paying yourself and you better be paying your FICA contributions.

Depends on how that net worth increases and will it be a realized gain. That's mostly everything.

It's reality but overstated how?

It comes from personal investment and capital formation.

Not sure which profit that is gross or net.

They don't "find" write offs. If they build a new distribution center the cost of the building and all the equipment is an expense and a write off against the gross profit. R&D is also an expense and therefore a write off. If those expenses and write offs exceed the gross profits there is no net income to tax. As I said I haven't read a detailed explanation of their tax situation. Newspapers and mags just like sensational headlines.

 

Well, once again you make groundless assumptions concerning my personal financial status. And though you are totally and consistenlty wrong, your point doesn't even matter.

Besides, you need to learn the difference between rate and amount. You will find that there are peoplee who don't pay at a higher rate, but do pay a higher amount.

 

No, I think some others were worried about how we do accounting for SS.

I have no comment on that at present.

 

Not understanding that statement. Could you explain what you mean by "more like insurance"?