POTUS 45.22 - The Genius of Donald Trump

[mookie1995]

Step 2: privatize Social Security.

Norway does this and they are heaven on earth

[mookie1995]

Is it insurance or a retirement plan? And what happens if my wife and I get killed by a drunk driver when we are getting close to retirement age? All that money was paid in for nothing. Everyone has a different situation and there are some who would be better off with a 401k type setup.

It is a transfer payment

Nothing more, nothing less. That is all it ever was.

End of story

[FadeToBlack&Gold]

Re: POTUS 45.22 - The Genius of Donald Trump

And what happens if my wife and I get killed by a drunk driver when we are getting close to retirement age? All that money was paid in for nothing.

Your SS tax money was used to pay the benefits of your parents' generation. That's how it works.

[joecct]

Re: POTUS 45.22 - The Genius of Donald Trump

If you replaced the dependent, itemized deduction, health insurance, and every other deduction with 1 flat amount (I keep picking $45K), would that be a bad idea??

FYI - My wife and I had $31K in deductions on an AGI of $155K.

Oh - everyone files single.

[trixR4kids]

Re: POTUS 45.22 - The Genius of Donald Trump

The Laffer Curve is totally applicable when the top tax rate < 50%.

The laffer curve lol, a theory that a guy came up with by drawing it on a napkin and some people still believe to this day somehow.

[Drew S.]

Your SS tax money was used to pay the benefits of your parents' generation. That's how it works.

This is one of the most accurate things ever posted on USCHO. Not to be a whiny millennial but I fully expect our generation to get completely screwed. We're also going to be expected to pick up the tab for all of the taxes my parents generation didn't pay.

[Kepler]

Re: POTUS 45.22 - The Genius of Donald Trump

The only one who might blink is Corker because he (claims that) doesn't want the budget to explode more.

McCain made an argument for regular order, which if he was consistent would mean he'd vote against this so The Heist could not be passed under reconciliation.

It would be great if they were a vote short and one of them (say, Flake, because he is the most malignant of them) just sent a letter to the wealthiest 600 families and said "my price is one trillion dollars." It would be worth the investment to them since they stand to steal ten times that much with this bill.

I'd just like to see it done that nakedly. I'd even have a sort of grudging respect for it.

[trixR4kids]

Re: POTUS 45.22 - The Genius of Donald Trump

This is one of the most accurate things ever posted on USCHO. Not to be a whiny millennial but I fully expect our generation to get completely screwed. We're also going to be expected to pick up the tab for all of the taxes my parents generation didn't pay.

Well sure, if you keep voting for Republicans these things will probably happen.

[Kepler]

Re: POTUS 45.22 - The Genius of Donald Trump

We're also going to be expected to pick up the tab for all of the taxes my parents generation didn't pay.

The taxes your party deliberately evaded for their donors and dumped into the national debt. Yes. Funny how that worked out.

[ScoobyDoo]

Re: POTUS 45.22 - The Genius of Donald Trump

Is it insurance or a retirement plan?

Did I stutter?

What happened to all the insurance money I've paid over the years?

[Drew S.]

Did I stutter?

What happened to all the insurance money I've paid over the years?

True insurance premiums you hope never to have to collect on, obviously. With retirement though, it is something most people hope to obtain and it is certainly a reasonable expectation.

[ScoobyDoo]

Re: POTUS 45.22 - The Genius of Donald Trump

True insurance premiums you hope never to have to collect on, obviously. With retirement though, it is something most people hope to obtain and it is certainly a reasonable expectation.

Any fool who thinks Social Security is a retirement plan is an idiot. Social Security is poverty insurance for the elderly. Always has been. Always will be. It also has the disability insurance piece of it.

And social security has been very successful in preventing people at retirement age from being poverty stricken. VERY SUCCESSFUL.

[Drew S.]

Any fool who thinks Social Security is a retirement plan is an idiot. Social Security is poverty insurance for the elderly. Always has been. Always will be. It also has the disability insurance piece of it.

And social security has been very successful in preventing people at retirement age from being poverty stricken. VERY SUCCESSFUL.

25 years ago you would have been right. Most of us in the private sector don't get pensions anymore though. I would assume for probably 90% of people social security is their biggest source of income in retirement.

I agree with you on the disability piece. Perhaps that could be separated from the retirement component?

[Kepler]

Re: POTUS 45.22 - The Genius of Donald Trump

Any fool who thinks Social Security is a retirement plan is an idiot. Social Security is poverty insurance for the elderly. Always has been. Always will be.

This would have been ideal but if so it should have been means tested from the start. And, obviously, contributions should never have been capped. That was a horrific mistake.

[St. Clown]

Re: POTUS 45.22 - The Genius of Donald Trump

25 years ago you would have been right. Most of us in the private sector don't get pensions anymore though. I would assume for probably 90% of people social security is their biggest source of income in retirement.

I agree with you on the disability piece. Perhaps that could be separated from the retirement component?

SSI is separate from SSA.