Here's how Elizabeth Warren would change Social Security

There were a lot of Democrats who were so happy that Trump was the nominee ... things have a way of bitting you in the ass.

 

baby boomers are temporary rise in those collecting, raise the caps on the rich temporarily, problem solved

most of us pay the social security tax for every dollar we earn, the rich could pay it on a few more dollars too

I like Warren's economic patriotism push too, let's reduce foreign outsourcing and foreign imports

 

Here's the thing about Social Security. It's one of the Kevin Bacons of the economy. Yes you have paid into it, but that money is turned right around and spent by the receipts on the goods or services you provide. So you have benefitted over the years in other ways than just what you receive when you retire. It's not a zero sum game.

 

most Americans of both parties support Social Security, the right is making a mistake if they try to kill this program

 

Social Security was not supposed to be used for goods and services but rather a savings account for retirees who have paid into it for decades and survived like me. All of the money paid into by people who died before they ever collected a cent is in there too. If Warren raised the benefits a couple thousand a month, it would be well deserved. I am 65 and have been paying since I was 16. I still have not applied and still pay a bunch into it. Within the next 5 years, I will apply and It would be nice to get what I deserve. Warren’s plan is a great idea.

 

Young people should understand that the Social Security System they pay into is a Ponzi scheme. Also, that they will be holding the bag (so to speak) with respect to the debt.

 

Who exactly do you claim is trying to kill Social Security?

 

You deserve others to pay without a cap but have benefits capped? To pay higher rates than you did?
You deserve this?

 

Thats not what I'm saying at all.

 

If you want the tax uncapped and the benefit capped, that's exactly what you're saying.
Those folks already pay a progressive tax on their income.

 

So you don't want to eliminate the cap on the tax and cap the benefit ?

 

I’ve been robbed and extorted by the Federal Government for almost half a century now. Anything I can get back, I want. Like I said. If all the money I and my employers paid into the system were put in a simple savings account starting in 1970 it would be worth at least $5000 a month for 20 years.

 

I am very far away from retirement, so removing the tax cap is about helping the elderly who are about to retire, and stopping another middle class tax hike. Also, conservatives tend to like flat taxes, and removing the tax cap will make it a flat tax, which doesn't sound so progressive to me. If you want to complain about progressive taxes, complain about the income tax, not the social security tax.

 

Exactly. I calculated that had all the SS money I (and my employers) have paid been put in a money market account, I'd have $4.5 million when I retired at 65. That's money that I will not see but maybe 10% of at most.

 

I don’t want your money.

My taxes would increase and I am not eligible for social security for another 30 years, if it even exists at all at that point...

I just think we need to stop giving other countries all of our money either through defense spending or direct payments and direct that towards improving our nation and the lives of Americans.

 

Why do you consider this robbery?
Are your fellow citizens not suffering the same "robbery"?
So now you want to rob others ?

 

I would rather the nominee be Warren and trump be arrested after he is out of office. Impeachment, even on legal and not moral grounds, will just drive his base out to vote.

 

But you want some to be uncapped on the tax yet have their benefit capped, in addition to paying the same rate increase as you.

That is wanting other people's money

 

Exactly. Most of those making millions a year pay a fraction of what I have paid percentage wise in income tax. Forcing them to pay an equal percentage into Social Security would only help to balance the scales for all of the phony deductions they get our congressional whores to hand them for campaign contributions.

 

And you want others to pay for this, instead of yourself

 

Who?
The guy earning above the SS income cap ($136k)pay less income tax percentage wise than you?
Please demonstrate this.
Some returns would suffice

 

No, I don’t want to rob anyone. I just would like to get back as much of what I have been robbed of from those who robbed me. I believe Income Tax is and always has been extortion, but I know I will never see any of that. However the Social Security System I paid into and still am is a savings account which was and is controlled by the Federal Government. Any attempt by a public servant or legislative body to give me and others a more fair and just return on their investment is certainly welcome. See what I mean now

 

Ok, I will show mine which over the past 30 years average about 24% of net income and compare them with Trump’s over that past 30 years.

 

A billionaire can afford a tax increase a lot more than you and I can, so yes. There are also millions of workers who are barely making ends meet who would get killed by this tax hike.

 

What he and everyone else deserved was to have their money invested in a real trust fund and not invested in a Ponzi scheme.

The current system is not sustainable which is a major problem. At least Warren, the angry schoolmarm, is putting this on the table. So I give her credit for doing so.