How Would Democrats and Republicans Fix Social Security?

Anything to do with the Wall Street CASINO is NOT investing, it is GAMBLING!

Those GREED OBSESSED wealthy elitists would BRIBE Republicans to ENABLE them to STEAL those SS funds in a heartbeat.

 

The same way they "fix" everything else, give it a whole lot of lip-service then kick it down the road.

 

Should they also receive a proportionate return on their social security, or are you arguing that social security is a redistributionist welfare scheme?

Most of the wealth don't earn a whole lot of W2 income, anyway. I don't think you'd get the results that you want or that would assuage your outrage over people having more than you deem morally acceptable.

Speaking of greed-obsessed...

 

What money?

 

Consumption does not create wealth. If it were the case that spending money created wealth, why not just print it and give all the seniors a check for $1 million?

 

It's already been spent.

 

Whatever you label it, it's just a welfare scheme.

 

What SS funds? There have never been any funds.

 

You won’t feel that way when it’s your turn. If you worked for 40-45 years, it isn’t welfare. You paid into the system all those years.

In second and third world countries, the elderly work until they die, and when the elderly can no longer work, they move in with their children or just die.

 

WITHOUT consumption the economy COLLAPSES!

We live in a CONSUMER based economy!

Wealth is DERIVED from the PROFITS made from the manufacture and sales of CONSUMER products.

Basic economics 101

Thanks for establishing that you do NOT have sufficient subject knowledge to engage on this topic.

Have a nice day!

 

WRONG!

It is an INSURANCE plan that ENSURES income for RETIREES!

 

Removing the caps won't help that much because you are also uncapping the benefits that need to be paid out in the future. The easiest way is just to raise withholdings and leave things as they are.

 

Is it written in law that uncapping the Social Security tax must lead to increasing benefits?

 

raise the caps in the tax

that said, covid may of already solved the problem in a sad way

 

just like when two family incomes became a thing, at first it would be a plus, then as time went on, a requirement

you would get that money, employers would see one had enough to live on and pay less

people would age and have nothing, society would still have to address it then

 

laws can be changed, the retirement age changed

 

Benefits are based on your indexed monthly earnings. Remove the cap, then the earnings for social security tax purposes and you are increasing the indexed monthly earnings.

 

That would certainly shovel unearned trillions into the pockets of those who currently own the stock that the mutual funds would consequently have to buy....

 

~ Isn't that the idea behind stock/bond investment ..?

~ Good point - Sadly ...

 

Investment is supposed to yield an income return. If you are only looking for capital gains, that is more like speculation. Getting naive investors to buy your stock when you know it is overvalued is called, "pump and dump." You could Google it. Any scheme to invest SS contributions in stocks is mostly just a pump and dump scheme by those who currently own the stocks. Take it to the bank.

 

~ Long term investments are immune to "pump & dump" . SS investments would likely never dump. Banks are useless for investment income.

 

No they aren't, unless you can predict the future (hint: you can't).

They've already been dumped the moment they are bought at inflated prices that will never be justified by future dividend yields -- like the current prices of almost all stocks.

Yet they themselves manage to make plenty of investment income. Such a mystery.

 

IF there's no consumption, it's likely because people are not being productive. You put the cart before the horse. Consumption a byproduct of production. When people produce, they have the goods necessary to become consumers.
Saying that consumers create production is like saying Harry Potter can wave his magic wand and create abundance in the real world.

Money isn't wealth. If money were wealth, then printing it would create more wealth.

Apparently, I have quite a lot more than you. For you, the entire substance of all of your arguments is CAPITALIZATION OF WORDS. Does that make you feel smart?

Now, tell me about Say's Law.

 

KEEP CAPITALIZING THOSE WORDS. CLEARLY BY DOING SO IT MAKE YOU RIGHT. SINCE I CAPITALIZED MORE WORDS THAN YOU, YOU'RE WRONG AND I'M RIGHT.

It's like a Ponzi-scheme. All payroll money goes to the Treasury general fund, and the Congress allocates enough to Social Security to meet it's current obligations. It's nothing like insurance. There's no investment, there's no savings. It can end at any time. There's no fiduciary obligation, even. The Congress can change the terms at any time. It can end the taxes and still hand out SS welfare checks. It can keep the taxes, and end the welfare. To call it 'insurance" is a bastardization of the term.

 

My turn for what? To go on welfare.

Just because government makes people dependent, doesn't mean that it's a good thing when they finally get their meager checks with a -25% APR on their "investment".

No one "pays into" Social Security. There's no fund and never has been. They meet their current obligations from what is paid into it in the current year. Everything else goes to the general fund to be spent by the government.

Ok. What does that have to do with the U.S.?