Cut employee's contribution to SS?

[chutem 0]

Looks like we may cut the employee contribution to Social Security for a year.

Is this a good idea?

Of course the claim is that the reduction will be paid for from other money the gov does not have.

http://news.yahoo.com/s/ap/20101207/ap_on_bi_ge/us_tax_cuts

James

[futuredivot 0]

It's not like I think I'll ever see a return on that investment, my parents don't depend on SS (Dad is retired railroad). Personally, it makes sense to me-but I'm willing to keep the employee contribution at present level or even a slight increase to honor the commitment the country made to our older citizens while we were taking a chunk of their paycheck.

See, Amazon, I care about your generation

You are only as strong as the prey you devour

[winsor 186]

Quote

Looks like we may cut the employee contribution to Social Security for a year.

Is this a good idea?

Of course the claim is that the reduction will be paid for from other money the gov does not have.

http://news.yahoo.com/s/ap/20101207/ap_on_bi_ge/us_tax_cuts

James

Don't be silly. The Government can print all the money necessary for anything.

Actually, it only takes a keystroke to create $trillions anymore. It's PFM (the Mandrake Mechanism, to be specific).


BSBD,

Winsor

[wayneflorida 0]

Any money I don't have to give the government is good.

[Amazon 7]

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It's not like I think I'll ever see a return on that investment, my parents don't depend on SS (Dad is retired railroad). Personally, it makes sense to me-but I'm willing to keep the employee contribution at present level or even a slight increase to honor the commitment the country made to our older citizens while we were taking a chunk of their paycheck.

See, Amazon, I care about your generation

Yeah I and I going to squeezin every Lincoln I can till he screams when I retire.

Actually I am hoping for the end of the world scenario.... I want to go huntin the assholes who stole everything... if they manage to survive that first month.

Its for the good of the species ... remove the useless dregs

[kelpdiver 2]

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Looks like we may cut the employee contribution to Social Security for a year.

This was a bit strange - I hadn't heard any talk of it, and suddenly it seems to be a done deal. Worth $200/mo to me, I think.

Politically, this tax cut sells well because everyone that works benefits. The bracket reductions only benefited those who pay income tax. The flat $400 if you earn less than X benefited the other half.

SS ran in the red last year, but I believe it was thought it would go back to black again for a few more years till the expected turning point around 2017. If true, it would have been deficit masking again, which has been a problem for a while. Taking this away is good for framing the budget question properly.

But of course at the essence, we're underfunding SS next year for political reasons, rather than economic ones. I'll be depositing that money straight into my brokerage account.

[masterrig 1]

If, other Govt. Agencies would leave Social Security alone, we wouldn't have a problem. They continue to 'borrow' from SS and jeopardizing it by not paying back.


Chuck

[mnealtx 0]

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If, other Govt. Agencies would leave Social Security alone, we wouldn't have a problem. They continue to 'borrow' from SS and jeopardizing it by not paying back.


Chuck

Congress has been dipping into the SS till for years.

Mike
I love you, Shannon and Jim.
POPS 9708 , SCR 14706

[masterrig 1]

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If, other Govt. Agencies would leave Social Security alone, we wouldn't have a problem. They continue to 'borrow' from SS and jeopardizing it by not paying back.


Chuck

Congress has been dipping into the SS till for years.

Yup! We were told that in my high school government class a long time ago. Congress dipped into it because it was the only place that ever had an abundance of money.


Chuck

[champu 1]

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Looks like we may cut the employee contribution to Social Security for a year.

This was a bit strange - I hadn't heard any talk of it, and suddenly it seems to be a done deal. Worth $200/mo to me, I think.

$178/mo.

The article doesn't mention contract workers that have to pay the self-employment tax. hmm...

[rehmwa 2]

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Congress has been dipping into the SS till for years.

Yup! We were told that in my high school government class a long time ago. Congress dipped into it because it was the only place that ever had an abundance of money.

government - find something that appears to work and then break it. With this type of philosophy, we should grow government.

...
Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants

[Butters 0]

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Congress has been dipping into the SS till for years.

Yup! We were told that in my high school government class a long time ago. Congress dipped into it because it was the only place that ever had an abundance of money.

government - find something that appears to work and then break it. With this type of philosophy, we should grow government.

If it's not broke than how are you suppose to fix it?

"That looks dangerous." Leopold Stotch

[masterrig 1]

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Congress has been dipping into the SS till for years.

Yup! We were told that in my high school government class a long time ago. Congress dipped into it because it was the only place that ever had an abundance of money.

government - find something that appears to work and then break it. With this type of philosophy, we should grow government.

It's been broke so long... there ain't no fixin' it. Too many long term congressmen and senators living off the 'cash cow'.


Chuck

[Nightingale 0]

How about trimming fat elsewhere and funding social security?

[billvon 2,393]

>How about trimming fat elsewhere and funding social security?

Let's just trim the social security fat!

[Nightingale 0]

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>How about trimming fat elsewhere and funding social security?

Let's just trim the social security fat!

Well, yeah, but I didn't think people would go for that right away, and we have to start somewhere, right?

[Southern_Man 0]

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>How about trimming fat elsewhere and funding social security?

Let's just trim the social security fat!

What social security fat?

"What if there were no hypothetical questions?"

[billvon 2,393]

>What social security fat?

You know, "the fat." It's a generic term used to describe all that government waste that people imagine is easy to just cut right off without disturbing anything else. It's as easy to do with SS as it is with any other government program.

[popsjumper 2]

Bill, I've noticed that people just aren't used to you posting humor. They don't recognize it when they see it coming from you.


Personally, I like it.

Don't you DARE cut any fat off SS just when I'm about to start collecting and get to go rolling in the dough.

My reality and yours are quite different.
I think we're all Bozos on this bus.
Falcon5232, SCS8170, SCSA353, POPS9398, DS239

[mirage62 0]

S.S. payouts will end up like a progressive tax rate. It will be means tested and if you have "X" amount of other retirement and assets your S.S. will be lowered by "Y" therefore funding the people that don't have as much as the goverment thinks is fair.

It will start small because we all know that it really isn't fair UNLESS your one of the screaming far left that believe that EVERY PERSON that made something only got it by screwing everyone.

The program was fair, it has been ruin by the gov making it a piggy bank and "we the people" do not have the strength to fix it.

But hey how about that taxes not going up?

Kevin Keenan is my hero, a double FUP, he does so much with so little

[DougH 270]

I would also guess that in addition to making it "progressive" they will also raise that cap for the amount of wages subject to the payroll tax.

So in the end people funding the system the most will get the least out of the system.

"The restraining order says you're only allowed to touch me in freefall"
=P