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dsc

(52,187 posts)

31. For decades SS ran a surplus which the rest of the government has gladly spent and used to keep deficits

Mon May 6, 2024, 06:17 PM

May 6

lower than they otherwise would be. But now, when SS needs to get money back it is tough shit no money for you. Well forget that.

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Well this is just great..... Social Security and Medicare will run out of money in just over a decade [View all] a kennedy May 6 OP

Republican crooks like Rick Scott Arne May 6 #1

The very age I turn 67. Wow. The timing on this. jimfields33 May 6 #2

Congress? Or the Republicans in Congress? dpibel May 6 #11

I am in the middle of everything. jimfields33 May 6 #12

If that's what you meant, you should have said it. dpibel May 6 #18

I have seen millions of people talk about congress. jimfields33 May 6 #22

You follow DU very closely dpibel May 6 #59

I will be more aware of my posting from now on. jimfields33 May 6 #61

You have patience and grace, thank you. n/t North Shore Chicago May 7 #106

Have a great day! jimfields33 May 7 #107

The important thing here is that once again reports about SS and Medicare Marthe48 May 6 #43

I heard that some cutbacks might be needed by 2035 Ritabert May 6 #3

It's already been spent MichMan May 6 #41

Just like all other Treasuries have "already been spent" dpibel May 6 #58

People who demand congress pay back all the money owed to SS or wanting a 'lockbox" don't understand it. MichMan May 6 #63

The bonds are sitting there dpibel May 6 #64

Thus why I posted that it has already been spent MichMan May 6 #65

Like credit card debt, right? dpibel May 6 #66

That's a myth NanaCat May 6 #73

Amazing isn't it? dpibel May 6 #91

They been saying this shit for 50 years. Emile May 6 #4

This. NewHendoLib May 6 #9

Yes they have. Just a trick to gin things up Srkdqltr May 6 #10

‼️ LakeArenal May 6 #16

+1 leftstreet May 6 #85

Yes, they have. In 1975, my boss said, "SS won't be worth a damn when we retire." raccoon May 7 #108

I heard the same thing around 1981 or so. CBHagman May 7 #113

Congress knows what to do RANDYWILDMAN May 6 #5

Give the Democrats a majority in both houses and the WH, otherwise JohnSJ May 6 #6

Not if they take the cap MOMFUDSKI May 6 #7

thank you... bahboo May 6 #13

There we go! SarahD May 6 #44

Social Security is an easy fix. Just raise the limit of income that can be taxed. patphil May 6 #8

It is not an easy fix. former9thward May 6 #40

It's not a straight-line formula, as I'm sure you know dpibel May 6 #55

People who contribute more have far more benefits than the average SS recipient. former9thward May 6 #75

Bend points, man dpibel May 6 #80

I know a number of people in this category and what they collect. former9thward May 6 #83

Gotta admit dpibel May 6 #87

Here is their conclusion: former9thward May 6 #88

Any evidence they don't? dpibel May 6 #90

You are the one who brought up the issue of whether the trustees former9thward May 7 #98

This message was self-deleted by its author dpibel May 7 #111

This would be a nifty dodge dpibel May 7 #112

This assumes they would get significnatly greater benefits from the contributions. Gore1FL May 6 #84

They would. former9thward May 6 #86

Assuming we don't extend the top benfits past what they are now other than on a COLA basis Gore1FL May 6 #92

Kind of like if you put money in a 401k VMA131Marine May 7 #102

Tax corporate capital gains, siphon from inheritances, and tighten corporate tax avoidance schemes. PufPuf23 May 7 #95

Well, SS has never been set up that way. former9thward May 7 #99

But what I suggest is more egalitarian than status quo and solves any funding problems. nt PufPuf23 May 7 #110

I'm not sure what you mean. VMA131Marine May 7 #103

Th benefit is capped because the upper income which is taxed is capped. former9thward May 7 #104

I say put a hole in the tax. Captain Zero May 7 #101

What is the logic for exempting all income from $135k to 500K? MichMan May 7 #105

After a person Rebl2 May 6 #14

Its $160k.... not $250k getagrip_already May 6 #19

Thanks for info Rebl2 May 6 #24

Its 168000 not 250. drray23 May 6 #20

You don't have to wait for congress. MichMan May 6 #42

To the extent that's an argument... dpibel May 7 #93

Evading taxes is illegal MichMan May 7 #109

It's Far Lower Than That ProfessorGAC May 6 #21

$168,000 Rebl2 May 6 #25

It Does, Indeed ProfessorGAC May 6 #30

Very good point. All compensation should be used for calculations. captain queeg May 6 #33

Earlier Today A Post About Wendy's... ProfessorGAC May 6 #34

The simple answer is that if we could raise taxes that much it needs to be distributed among many needs-- Silent Type May 6 #32

Repukes sure find it easy to lower taxes when they're in power. Hermit-The-Prog May 6 #36

They do, and us middle- and lower-class people took our share of tax cuts. Raising taxes ain't as easy. Silent Type May 6 #45

bothsiderism doesn't work Hermit-The-Prog May 6 #48

What does that even mean when it comes to the odds of getting a big tax increase? Silent Type May 6 #49

If Congress would repay those IOUs WhiteTara May 6 #15

Will never happen Rebl2 May 6 #26

I know WhiteTara May 6 #71

"Run out of money" and "benefit cuts." dpibel May 6 #17

Actually, SS Trustee says if we do nothing by early 2030s, all SS beneficiaries take a 20+% cut. Silent Type May 6 #50

You agree with what I said dpibel May 6 #60

Wasn't disagreeing with you, simply putting a number on the potential cut if we do nothing. Silent Type May 6 #62

It's not when the SS trust fund is drawn down to zero bhikkhu May 6 #78

This could be of interest to you dpibel May 6 #81

Remember Al Gore's LOCKBOX lynintenn May 6 #23

Ah, the dream of America's ruling class since the early 20th century misanthrope May 6 #27

They've been saying THAT all my life Warpy May 6 #28

Who is "they"? former9thward May 6 #38

Maybe they want to raise that ridiculuously low earnins cap Warpy May 6 #46

Biden appointees write for WaPo? dpibel May 6 #68

Well here it is since you seem to have a quarrel about how it was reported. former9thward May 6 #76

Search "belly-up" dpibel May 7 #94

Reagan had a Democratic House for the entirety of his presidency MichMan May 6 #79

Remind me the compositon of the Senate dpibel May 7 #96

Yes, Reagan had bipartisan support for all legislation signed into law MichMan May 7 #100

This has been known for over a decade. Obama tried to do something about it and was severly bashed by his own Party Silent Type May 6 #29

For decades SS ran a surplus which the rest of the government has gladly spent and used to keep deficits dsc May 6 #31

SO WAPO is suddenly the voice of reason? GreenWave May 6 #35

"We have to look at cutting it all, SS, Medicare and Medicaid" Marcus IM May 6 #37

Daily dose of FUD. littlemissmartypants May 6 #39

I find it ridiculous that there is a cap on wages that have to pay SSI dclarston13 May 6 #47

Easy. Lift the cap. Done. tinrobot May 6 #51

Simple solutions: Medicare for all/single payer healthcare and deletion of the SS salary cap Rocknation May 6 #52

Maybe if Congress stayed out of the piggy bank, and there was means testing so guys like ... marble falls May 6 #53

Cut the crap, raise the CAP! FalloutShelter May 6 #54

Every election we hear this. One of these days it will be true. Runningdawg May 6 #56

And Trump's health plan will be out in 2 weeks lame54 May 6 #57

Roll of paper towels Tree Lady May 6 #67

They'll probably do what they usually do. Xolodno May 6 #69

Greedy Oligarch Pirates will snatch oasis May 6 #70

I'll likely be dead. Oopsie Daisy May 6 #72

Been hearing this my entire life. edisdead May 6 #74

It doesn't have to be this way ecstatic May 6 #77

"will run out of money" dpibel May 6 #82

it would NOT "force benefit cuts"--- that is the decision of Congress! DemocraticPatriot May 6 #89

greenspan's biggest bubble. KILL THE CAP. pansypoo53219 May 7 #97

Reassuring news. I just applied. I figure that if Trump is elected, SupportSanity May 7 #114