Here's how Elizabeth Warren would change Social Security

No, but I can name two of them whose political careers got shot all to hell when they took political positions that attacked Social Security or tried to scheme ways to screw people out of their EARNED benefits: 1. "Buttertub" Chris Christie 2. "Crusader Rick" Santorum.

Christie wanted to apply "means-testing", which is just another way of screwing people out of what they have EARNED.

Santorum just wants to cut benefits, with no explanation other than it could possibly hurt "the children and the grandchildren" -- although none of these "children and grandchildren" have so far paid anything into Social Security OR Medicare....

These two morons were a part of the reason that I quit the Republican Party two years ago, even though I'm probably more Right-wing than either of these manipulating frauds.... Funny how you never hear anything about either of them any more....

 

Back in the 70s we had people smoking low grade marijuana and enjoying it. Since that time we have spent 1 Trillion in tax dollars fighting a war on drugs? For what?

 

"Buttercup" Chris Christie or "Bridge" Chris Christie?

 

Ok when Social Security contributions exceed benefits being paid out what should be done with those surplus funds?

And FICA is a reimbursement to lower income families, you have to have worked and paid FICA taxes to receive it. It is not an "if".

"The purpose of the Earned Income Tax Credit (EITC) is to reduce federal income and payroll taxes for workers with low to moderate incomes. "
https://bipartisanpolicy.org/blog/earned-income-tax-credit-facts-statistics-and-context/

What is the Earned Income Credit (EIC)?

The EIC is a tax credit provided to help offset the basic living expenses (including FICA taxes) of low income employees.
https://www.payroll-taxes.com/articles/earned-income-credit-infromation

 

It matters because our national defense and national security are the primary functions of the federal government and specifically mandated by the Constitution and therefore it gets the first dollars, everything else comes after that.

What do you think all those people who applied their human capital and labor to produce added value to a hunk of steel did with the money they were paid to do so, bury it in the backyard? What about the people who produced the steel? The plastic and rubber. The electronics, the weaponry?

 

To keep a bunch of garbage picking, phone tapping ******** sniffers employed and paying them 100k a year.

 

we spent over 7 trillion on Bush's two 10+ year wars to date per Trump, that could have been spent to nation-build at home and save social security easily

 

And it's not a property right.

 

As long as they are power, they will piss it away. And by that, I mean, anyone is in power.

 

That is why Capital Gains MUST be taxed as ordinary income.

 

One more reason why Warren should never be elected. I read about 50-75% of the post in this thread and I hate to say that I have little sympathy for the people with the view that "I have been paying in for 40+ years and just want to get back what I deserve". You guys were all in on the scam and you knew how it worked. You reap what you sowed. I started work much later that most boomers but I always knew like everyone else that social security payments went into general revenues. They are NOT put aside and stored in a nice little savings account for you. The idea is the FUTURE work force will pay into social security and you will get payments from them. So let see what happened. You boomers paid a bunch of money into social security which went directly into general revenues. Then the governments YOU guys voted for year after year took that money and spent it on stuff like military, social programs, wars, infrastructures, the wall that Mexico was suppose to pay for and everything else you guys wanted the politicians YOU voted for to give you with your tax payments. You guys are known as boomers but you all had less children and your children's children had less kids. You decreased the working population that was suppose to pay into your social security benefits. You bought cheap things from overseas and voted for politicians that shipped all of the jobs to cheap labor nations. Now with the diminished work force you want the full amount you think you are due. Well I hate to say it but you have been spending that money for the last 40 years. Only a fool would have not seen this coming but you continued to go on with the scam. You should have fixed it long ago.

 

My mistake, it is 35 years! Mea culpa!

Everything else that I posted was CORRECT!

 

Why not start by cancelling all tax cuts which is nothing more than WELFARE for the WEALTHY?

 

The AARP proposed some steps to stabilize the SS system in 2015. It includes the obvious pros and cons for each proposal. https://www.aarp.org/work/social-security/info-05-2012/future-of-social-security-proposals.html

 

No we didn't spend 7 trillion and no one had a better plan to remove Saddam and fight the terrorist who were attacking us.

 

And collect less capgains revenue and slow the economy. Why MUST we do that?

 

Who is "us" and what would you prefer the surplus SS contributions be out into?

 

In the U. S., as a 'normal' civilian in the 'normal' workforce (not a 'civil service' government or military employee) you are FORCED to let the government take money from your 'cheque' every single pay-day, from the day you begin working until the day you retire. This money is put into a retirement "trust fund" for YOUR retirement (you have an individual account). Civil servants, teachers, military personnel, etc., have their own separate retirement systems.

Anyway, as a 'normal' civilian citizen, you can begin collecting at age 62, but the smart thing to do (if your health is good) is to wait until age 70, because each year you wait to collect, the amount you receive goes up ~8%. BUT, if you ever fail to make your "contribution" to the system, you are breaking the law and the government will come after you with "hammer and tongs", as you say in Great Britain. There's nothing voluntary about it....

We've been saddled with this MANDATORY retirement system, for better or worse, since 1935....

 

It is taxed as ordinary income for investments < 1 year. But there is a balance where you don't want to hinder investments which are a good thing. The problem is separating investments that are used for personal income purposes and investments used to fuel economic growth.

 

So, you were surprised when it turned out that way.

 

When Social Security started making regular payments in 1940, the minimum was .30 cents. In 2019 America you can't buy a donut for .30 cents.

 

No since it didn't why did you assume it did?

 

Don't we give each Israeli about $15,000 each October? That is more than the typical person gets in SS for the year.

 

I get it ... thinking before the grave instead after.
The only viable change that can be made to Social Security which is
a Government promise and payed for in the form of FISA deductions
each and every paycheck.Is the COLA adjustment.Or Raising by an act
of Congress the amount of FISA % deducted each paycheck.
There is no other way.Meaning if FISA is raised in order to help
one group { The Baby Boomers } by having those currently in the
workforce have it taken out of their paycheck then it's yer standard
Politicians line of bull.Like ObamaCare has proved.ObamaCare promised to
reduce Premiums.It did the opposite.Raised on average healthcare
costs by 25 %.So Obama Lied.What else is new.
The Lie Chuckie boy Schumer used to instill confidence with his
Democrats by making sure it gets passed.He said Passing ObamaCare
would be an asset for the Democrats come fall and the 2010 Midterms.
He found out Different.His Democrats and Nancy Pelosi lost her
gavel in the following midterms.Because a Republican { Mitch McConnell }
said passing ObamaCare would be a referendum in the midterms.
Look for this Warren fraud If the Nominee to Moderate her positions
substantially over the months.Right now she is a Raving Maniac
barking out orders and threats and pointing her fingers around as
if a Female Mussolini.

 

That would be F.I.C.A. tax not FISA.