> What will democrats do about social security cuts once they take control in January?Previous | First | 1 | 2 | Last | Next
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Diarrhetrius BrownWhat will democrats do about social security cuts once they take control in January?
Four to five years down the road.
Should I be concerned?
"Current Social Security benefits will not be cut immediately, but payments face a potential 22% to 24% reduction in 2032 if Congress does not take legislative action before the retirement trust fund runs out of reserves."
Wife and I have a combined social security benefit of $5,030 a month and if they cut $1,207 the wife and I would be fine but many Americans will be devastated.
If social security was totally chopped up we have enough saved where we could live comfortably enough for the rest of our lives.... say another 10 to 12 years.
Are younger democrats simply going to tell the boomers to go fuq off or what?
In my opinion this is one of the most important things to fix
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Re: What will democrats do about social security cuts once they take control in January?
Shut up and die already fuqer
We'll take all the fuqing money being squandered in a pointless war and monuments and fund the trust
Satisfied?
Fuq off...
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Re: What will democrats do about social security cuts once they take control in January?
wrote:
Shut up and die already fuqer
We'll take all the fuqing money being squandered in a pointless war and monuments and fund the trust
Satisfied?
Fuq off...
How are you planning on doing that?
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VP_Spiro_T_CheneyRe: What will democrats do about social security cuts once they take control in January?
Working people are taxed enough already.
Some oldsters will just need to tighten their belts. Means test, cap benefits, etc. Rather than crying about it, they should be thankful for the lifetime of living beyond their means that they’ve already enjoyed.
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Tom LeykisRe: What will democrats do about social security cuts once they take control in January?
wrote:
How are you planning on doing that?
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Phillip_McCavityRe: What will democrats do about social security cuts once they take control in January?
Both generations should contribute.
SS could phase in a higher retirement age to 70 or 71 over 30 years (nobody today affected), like they did before.
SS could also could reduce per year initial benefit growth, starting in 5 years. This is not COLA for people already on SS, its for people who haven't gotten SS yet.
They could increase the tax cap on SS income a modest amount.
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anon user #3Re: What will democrats do about social security cuts once they take control in January?
A 5% per year wealth tax on anyone with a net worth over $2 million ought to do the trick.
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Re: What will democrats do about social security cuts once they take control in January?
They can do away with survivor benefits i.e spousal continuation.
Nobody pays their taxes imagining that it's going to pay the bills for some rich guy’s wife long after he's passed away.
They can also do away with those who've made good money getting significantly more in retirement. Cut payouts relative to location.
Essentially, everyone is treated as an individual, and the cutoff for payouts is reduced for the wealthy. No more $ 7K a month because you made more money. The payouts should be the same for everyone with a location consideration.
Your pay-in rate should be determined by the age of your parents at their death. Example: everyone in your family dies before the age of 74, your tax is reduced. Everyone in your family lives to be 90? Your tax is increased.
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Re: What will democrats do about social security cuts once they take control in January?
Let the boomers die!
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Re: What will democrats do about social security cuts once they take control in January?
Tax raises are coming, no way around it.
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Re: What will democrats do about social security cuts once they take control in January?
Boomers have found a way to take their money with them.
young qunts
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Re: What will democrats do about social security cuts once they take control in January?
wrote:
Tax raises are coming, no way around it.
The libfilth should love that.
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Re: What will democrats do about social security cuts once they take control in January?
wrote:
Boomers have found a way to take their money with them.
young qunts have their 401K's
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Phillip_McCavityRe: What will democrats do about social security cuts once they take control in January?
If the Republicans were smart, they would propose that SS benefits can't be paid to anyone not living the US.
No more moving to Thailand and collecting a US Social Security check.
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Boomer HaterRe: What will democrats do about social security cuts once they take control in January?
wrote:
Let the boomers die!
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Fuq Boomers
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Re: What will democrats do about social security cuts once they take control in January?
Phillip_McCavity wrote:
If the Republicans were smart, they would propose that SS benefits can't be paid to anyone not living the US.
No more moving to Thailand and collecting a US Social Security check.
Why? What you get is based on paying in? The us collects income taxes from those people.
In principle, I kind of agree, but with the caveat that benefits in cash are reduced and [partially replaced with a housing credit whose value is determined locally, with the government matching funds and what not for the very poor.
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Re: What will democrats do about social security cuts once they take control in January?
Son, your pathetic 401k ain’t gunna be worth shyt come your retirement.
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Re: What will democrats do about social security cuts once they take control in January?
wrote:
Son, your pathetic 401k ain’t gunna be worth shyt come your retirement.
SS is the gov holding your money in a bond for 30 years, and if you're lucky you get half of what you pay in back.
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Hell_Is_Like_NewarkRe: What will democrats do about social security cuts once they take control in January?
Probably go more extreme on the Woke.
Defund ICE, police, etc.
I expect a fresh round of gun control, gun bans, gun registration, CCW restriction bills to show up in the first 100 days.
On a positive note, there is a slight chance the full Epstein docs will get released. Given Epstein's ties to Israeli intelligence and AIPAC's influence on both sides of the aisle, "slight" might be an over-statement.
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Hell_Is_Like_NewarkRe: What will democrats do about social security cuts once they take control in January?
anon user #3 wrote:
A 5% per year wealth tax on anyone with a net worth over $2 million ought to do the trick.
Today that is everyone with a paid off home and a modestly funded IRA / 401k. A $ million ain't what it used to be.
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Hell_Is_Like_NewarkRe: What will democrats do about social security cuts once they take control in January?
Diarrhetrius Brown wrote:
Four to five years down the road.
Should I be concerned?
"Current Social Security benefits will not be cut immediately, but payments face a potential 22% to 24% reduction in 2032 if Congress does not take legislative action before the retirement trust fund runs out of reserves."
The "reserves" is IOUs being cashed in via funds from general revenues and the issuances of new debt. Given the 1st world is heading towards sovereign debt defaults, SS benefits may go well before 2032. The "default" may work this way: You still get your $2,200 a month but because how inflation is calculated a stuff like a dozen eggs cost $20 and your COLA never kept up.
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Re: What will democrats do about social security cuts once they take control in January?
Phillip_McCavity wrote:
SS could phase in a higher retirement age to 70 or 71 over 30 years (nobody today affected), like they did before.
Why not say what you mean:
AI Overview
White male life expectancy in Southern U.S. states is lower than the national average for white males, typically ranging from about 72.7 to 75.5 years depending on the specific state.
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Phillip_McCavityRe: What will democrats do about social security cuts once they take control in January?
wrote:
Why? What you get is based on paying in? The us collects income taxes from those people.
In principle, I kind of agree, but with the caveat that benefits in cash are reduced and [partially replaced with a housing credit whose value is determined locally, with the government matching funds and what not for the very poor.
You don't pay into social security, its not a savings or investment account.
The money that SS collects in taxes is paid to retired people. Any extra buys US bonds.
However, with the retiring boomers, all those bonds have been sold. That means, all that is left are taxes. And in a few years, those will not be enough. Since the law doesn't allow general government revenue to pay SS benefits, everyone on SS is going to have to take an immediate 20% cut. Ask any retired people, hey, if your monthly pay is cut 20% can you survive okay? The answer will be no.
Now, there are various ways out of this. Congress could fund sending general revenue to SS, and they did something like this once before.
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Re: What will democrats do about social security cuts once they take control in January?
wrote:
SS is the gov holding your money in a bond for 30 years, and if you're lucky you get half of what you pay in back.
Anyone under 50 won't get anything, on the current trajectory. Republicans will happily let it die, and rename IRA's as Trump Retirement Accounts.
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Re: What will democrats do about social security cuts once they take control in January?
Everyone laughed at my Social Security Lockbox.
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:algore:
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