WTF.....Greenspan wants to cut Social Security benefits to reduce the deficit..... what about repealing the tax cut?? why should seniors shoulder the burden of balancing the budget?? http://www.msnbc.msn.com/id/4371103/
As a single non home owner making more than 50K and less than 100K I don't benefit at all from GWBs tax cuts. As a 49 yo boomer, I'm going to get screwed on my SS at retirement thanks to GWBs deficit. While I'm all in favor of incinerating potential terrorists, I am slowly getting that leftist kind of feeling.
Social Security has been in failure mode for years, a fact noted long before GWB became president. With an increasing number of payees and a decreasing number of payers, it is bound to fail eventually. If you want to blame someone, blame the post WWII generations who paid almost nothing into the system but received substantial benefits for years. Blame the politicians who put aside money on paper only, preferring to "borrow" those funds to be repaid later. Blame the politicians who bought votes by increasing and expanding benefits. If the system really worked as promised, there would be no need to raise taxes now to pay those who supposedly invested in the system during their working years. The funds that today's workers are paying into the system, supposedly for their own retirement years, are in fact being paid out now to the preceeding generations whose real contributions didn't begin to cover their actual disbursements. Even the current trends of increasing the retirement age and reducing benefits won't save the system. It's just a government-run pyramid scheme, which by nature is guaranteed to fail at some point. Blaming that failure on a small tax cut makes no sense. And actually, TA, seniors as a group are far more wealthy than the working generations of parents who are now feeding the SS system. Children living in poverty outnumber seniors living in poverty. The tax cuts were targeted toward those families with children.
BS.... there was a Social Security Surplus before Bush took office and guess who raided the cookie jar...."they're old they won't miss it"....
I was going to post something, but I just don't have the time to try and undo the collossal level of ignorance displayed in your two posts.
DEMOCRATS CAN'T HANDLE THE TRUTH FROM GREENSPAN Finally the truth has been spoken: Social Security, in its current form, cannot be sustained. Federal Reserve Chairman Alan Greenspan warned a House Budget Committee that because of the budget deficit and the retiring baby boomers, future cuts in Social Security and Medicare will be needed to prevent tax increases that would damage the economy. Since this is unacceptable to the Gimme Generation, Democrats immediately went into hysterics. But Greenspan is absolutely right. People need to get it through their thick skulls that Social Security is broke. There is no trust fund. The lockbox is empty. Current beneficiaries are paid off by later ones. In private business, this is called a Ponzi scheme, and they put people in jail for it. What is being perpetrated on the American people with Social Security is so fraudulent, it makes Enron look like a bike ride. Right now, as you read this, Social Security is $26 trillion in debt. President Bush has proposed allowing younger workers to invest part of their own Social Security money, but this is just a half-measure. The program needs to be privatized as soon as possible. Under a private system, beneficiaries would see a dramatically higher return on their investment than the current system. As it stands now, you will get far less from Social Security than you put in when you retire. Remember: there is no Social Security fund waiting for you when you retire. It's all a big lie
haha..the poor dude is just uninformed. I'll help you out by just sending him here so he can read up on it himself. http://www.mysocialsecurity.org/filters/currentproblems.html
Re: DEMOCRATS CAN'T HANDLE THE TRUTH FROM GREENSPAN Exactly, and we have Democrats and Republicans alike to blame for it. At least the Republicans are trying to the privatization idea working. Hell a tax hike needed to keep the bullshit program alive would kill most american workers.
Many companies are offering to not deduct SS. I would like to NOT pay it and defer the money into some type of CD's, stocks or somthing.
Re: Re: DEMOCRATS CAN'T HANDLE THE TRUTH FROM GREENSPAN No, we have a record number of people coming up on the collection age to blame for this. I've already come to the conclusion that the coffers will be empty by (and if) I hit 65. I need to prepare for myself for retirement age and not rely on the $1500 a month I presently qualify for from Social Security. My money is going to pay for my parents generation and I'm fine with that. They earned it. Greenspan is right but the politicians are just too chickenshit to say what he did for fear of not being reelected.
Re: Re: Re: DEMOCRATS CAN'T HANDLE THE TRUTH FROM GREENSPAN How the hell can you blame people for getting old. I guess we could just start killing people at a certain age. The damn government knew the system wouldn't work and just ignored it.
check this out...its really interesting...once again still don't know what the hell I'm talking about.... http://www.usatoday.com/news/opinion/columnists/wickham/2002-03-04-wickham.htm
You nailed that one right on the head! What does that have to do with your ignorant 1st post in this thread?
