On Tue, 12 Jun 2018 00:22:47 -0700, El Castor
Post by El Castor
On Mon, 11 Jun 2018 18:52:42 -0700, Josh Rosenbluth
Post by Josh Rosenbluth Post by email@example.com Post by mg Post by PJay OD
SOCIAL SECURITY: Ultimate demise of long term unworkability of SOCIALISTIC Ponzi scheme manifests in 2018.
"...annual cost of Social Security is projected to surpass total income this year..."
"An unfunded liability is a debt that is not covered by the value of assets, savings or investments that have been allocated to pay the debt."
If nothing is done to change things, SS will continue to pay
retirement benefits at the current level until about 2034 and then,
after that, the benefit will be reduced to approximately 77% of
currently scheduled benefits.
The government could repay what it took out!
If nothing is done, the government will have fully repaid what it took
out in 2034.
The government would prefer not to do that, so when the stars are
aligned, and all is right in DC, the tweaking will begin.
I think you're totally right about that and, IMHO (well. perhaps not
entirely humble) mainstream political leaders in both parties will do
anything to avoid increasing payroll deductions on business, although
I would guess that removing the cap on SS earnings, and/or increasing
deductions would be favored by the majority of Americans.
Establishment politicians favor a plan which I think would turn the SS
system into a total welfare plan or if you prefer, a lot more of a
welfare plan than it already is. Both Bush and Obama established
commissions which essentially recommended the same general solution,
which is to take money from the top half of the income earners, which
would mean, in rough terms, cutting benefits for those who made over
$50K or $60K/yr and giving those benefits to people who made less than
that. One of the problems with that, in my opinion, is that once the
public come to fully understand what's going on, and they see SS as
purely a welfare program paid for by the wage earner, they're going to
want to kill the program.
The Tea Party has been one of the main obstacles to various "grand
bargain" ideas between Democrats and Republicans, which would cut SS
and Medicare benefits and so has the working class and some rebellious
Democrats, and candidates like Sanders and Trump. And as most people
will recall, I'm sure, Donald Trump won the election by being
anti-Establishment and, among other things, promising not to touch the
Medicare and Social Security programs, not to mention being against
Obamatrade, and trade agreements like NAFTA, and mass immigration.
I'm not sure, incidentally what Sanders position is/was on SS. So, as
far as I know, Trump might be the only friend the American people have
in regard to the SS and Medicare programs, which are arguably the most
popular government programs, ever.