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Ooops! Social Security on the Chopping Block


shintao
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I guess the GOP is fast approaching the republican voters pocket books. I can hear them squealing already, but you know what, the next election will see them supporting the republicans again. lol

 

A new GOP plan would throw the system in a blender, pour the resulting mush onto the countertop, and declare victory.

“It definitely doesn’t hold anyone harmless. People over 55, their benefits are getting cut too. The reality is that it is a massive cut to basically everybody, especially the middle class,” Social Security Works’ Alex Lawson told ThinkProgress. “This will push millions of older people into poverty.”

The proposal, from House Social Security Subcommittee Chairman Sam Johnson (R-TX), rips up the government’s current commitment to retiree dignity. It would slash benefits by as much as half for some workers over the coming decades, and by close to 20 percent for even the poorest workers in their dotage. On top of relying entirely on benefit cuts, the plan exempts benefits for wealthy retirees from taxation in order to further sabotage funding down the line.

Someone earning little enough to qualify would still see smaller benefits than under current law — as much as a 20 percent cut.

A worker who averaged $60,000 in annual income, better than the national median but hardly making a killing, would lose fully one third of the retirement benefits they’re due from the system today. Currently, the system’s 39 million retired workers draw average benefits of less than $16,000 per year.

Trump explicitly said he wouldn’t cut Social Security if elected. “I’m not going to cut it, and I’m not going to raise ages, and I’m not going to do all of the things that they want to do. But they want to really cut it, and they want to cut it very substantially, the Republicans, and I’m not going to do that,” he told a Wisconsin radio station during the primary.

https://thinkprogress.org/republicans-social-security-369dbd5223fe#.p4bskyq1c

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I guess the GOP is fast approaching the republican voters pocket books. I can hear them squealing already, but you know what, the next election will see them supporting the republicans again. lol

 

A new GOP plan would throw the system in a blender, pour the resulting mush onto the countertop, and declare victory.

 

“It definitely doesn’t hold anyone harmless. People over 55, their benefits are getting cut too. The reality is that it is a massive cut to basically everybody, especially the middle class,” Social Security Works’ Alex Lawson told ThinkProgress. “This will push millions of older people into poverty.”

 

The proposal, from House Social Security Subcommittee Chairman Sam Johnson (R-TX), rips up the government’s current commitment to retiree dignity. It would slash benefits by as much as half for some workers over the coming decades, and by close to 20 percent for even the poorest workers in their dotage. On top of relying entirely on benefit cuts, the plan exempts benefits for wealthy retirees from taxation in order to further sabotage funding down the line.

 

Someone earning little enough to qualify would still see smaller benefits than under current law — as much as a 20 percent cut.

 

A worker who averaged $60,000 in annual income, better than the national median but hardly making a killing, would lose fully one third of the retirement benefits they’re due from the system today. Currently, the system’s 39 million retired workers draw average benefits of less than $16,000 per year.

 

Trump explicitly said he wouldn’t cut Social Security if elected. “I’m not going to cut it, and I’m not going to raise ages, and I’m not going to do all of the things that they want to do. But they want to really cut it, and they want to cut it very substantially, the Republicans, and I’m not going to do that,” he told a Wisconsin radio station during the primary.

 

https://thinkprogress.org/republicans-social-security-369dbd5223fe#.p4bskyq1c

You knew Social Security was going bankrupt and you did NOTHING about it.

So you know what? Fuck you. It's your program and you ensured it would fail.

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Social security, the 3rd rail of politics, I hope they do it cause watching them and the dumb fuckers that voted for them suffer and lose what little they have left will be comical.

Yep, you don't give a shit about people's retirement except for how you can benefit politically.

You're a true piece of shit.

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UNTIL 1984 the system was set up as a pay as you go system which could be duplicated. As of the moment trillions of dollars are collected annually under the Socially Security Insurance umbrella. In essence Socially Security Insurance pays for itself.

 

A. Nutso right wingers need to be very careful. Lots of very smart people,very rich people, foreign governments and some financial institutions have invested in the bonds that cover social security insurance. If the USA GOV'T were to default on these obligations not only would some very powerful people get pissed off it would sink the USA economy.

 

B. To move Social Security Insurance into a privatized mode it would require $4 trillion of new debt which could place the USA in a rather risky credit rating.

 

ARE USA taxpayers prepared to be forced as the collateral backing up A & B?

 

Hopefully some kind of safety watch dog is snooping around the corner prepared to begin barking loud thus sounding the alarm.

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UNTIL 1984 the system was set up as a pay as you go system which could be duplicated.

 

A. Nutso right wingers need to be very careful. Lots of very smart people,very rich people and some financial institutions have invested in the bonds that cover social security insurance. If the USA GOV'T were to default on these obligations not only would some very powerful people get pissed off it would sink the USA economy.

 

B. To move Social Security Insurance into a privatized mode it would require $4 trillion of new debt which could place the USA in a rather risky credit rating.

 

ARE USA taxpayers prepared to be forced as the collateral backing up A & B?

 

Hopefully some kind of safety watch dog is snooping around the corner prepared to begin barking loud thus sounding the alarm.

You created a fiscally insolvent social program, now it's the republican's fault that it's failing.

Like always.

Hope them conholes have to eat cat food before they drop

Hope you drank the water.

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You created a fiscally insolvent social program, now it's the republican's fault that it's failing.

Like always.

 

 

Well you are absolutely correct. The American Legislative Exchange Council is leading the charge for privatization with Paul Ryan sucking their dicks......

 

Massive fraud and grand theft is being put forth.

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Well you are absolutely correct. The American Legislative Exchange Council is leading the charge for privatization with Paul Ryan sucking their dicks......

Massive fraud and grand theft is being put forth.

Someone has to clean up the mess you made. Bush tried, and was crucified for it.

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