[10]In 2012 a 'fix' for SS would have required an immediate and permanent tax increase of 1.95%. A year later the cost of the fix has risen to 3.36%. That's a 70% deterioration in twelve months. To right the SS ship a payroll tax increase equal to $180B would be required for 2014, and that higher tax rate would have to be sustained forever. A tax increase of this magnitude would sink the economy into a recession that the country would struggle to get out of.
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4 comments:
Funny as heck how people are still talking about when they're getting SS.When they ask me I tell them to wait until they are 100 to get it,but I'm collecting at 62.When the well has completely dried up maybe I will have gotten a few good years of it.11 months to go for me.
Interesting. I was a state employee for a number of years, punished continually by those democrats who like to control society. I receive my pension but as a state employee I was NOT ALLOWED to have a 401 or invest in TIAA CREf or anything that would be beneficial in the end for me.
Therefore, as my life has rolled on I do expect to receive my investment money of social security funds. I am still a few years away yet but am poised to sue if the dems renig on that.
I am one person among many who have earned it. If anyone wants reform they have to start with the young twenty somethings. And for any pinheads who are going to berate me for this I am in support of reform. But reform that doesn't hurt the elderly.
the real reason these programs are going broke is because the dumb politicos are letting people who never paid in and do not deserve to benefit from these programs receive benefits from them. in fact once you've drawn whatever amount you paid in you should be done! that would maybe just maybe get some people off their butts! and if you become the bane of society or like the animal who's been locked up 396 times we euthanize you! end of problem! everyone goes home happy except of course for the leeches and parasites!
I realized when I was 20 that it was all a scam, social security, retirement plans, and the like. everything was going towards zero interest, and just plain stealing from social security donations. Retirement plans were unaffordable, so my future was made, Here I am 59. Bad knees, unemployed for 5 years, and looking for work that is just not there.
Merry Christmas anyway, everyone. At least I have that.
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