Some Republicans want Medicare and Social Security to Sunset

Concart said:
Privatizing social security would be a disaster There is a reason they have to buy Treasuries. We’ve never defaulted on them. But imagine today that we made the decision to privatize. First you need to keep paying benefits to those already receiving them. They obviously cannot participate. So how do you do that with no further funding from working people. There would certainly be a shortfall. Then you have to establish accounts for everyone so they can invest. So you replace one bureaucracy with another. What happens when people reach retirement after having blown all their money? Tell them ‘tough shit’? Because it will happen to lots of people. Can you imagine the sharks with all that new blood in the water? The afternoon tv ads? GUARANTEED 15% RETURN ON YOUR RERIREMENT MONEY!!! It’s a disaster waiting to happen and the logistics are a nightmare. SS provides at least SOME guaranteed income and can be adjusted. I should not receive Social Security at least not as much as I get. People who make millions should pay at least some extra ss tax. Boehner and Obama had a massive deal that would have started that process but the freedom caucus killed it and forced Boehner to step down. Because the deal included tax increases in the rich. Can’t have that.
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SS was designed to prevent millions from being broke in retirement. If one happens to be lucky enough to still make a lot of money in retirement then they should be told congratulations, you don't qualify for any.

Also when it comes to income taxes there should not be a maximum percent. If you make 100 million per year your tax rate should be upwards of 90%. That sounds like a lot but that means you are taking home after taxes 10 million dollars/yr. Just what can one not afford making that kind of money? That is about $200,000 per week after taxes. Nobody worked hard enough to make that sort of money, they were lucky. Lucky enough to have lived in a country that afforded them the ability to do such a thing, they need to thank that country by returning some of it. Back in the days of Eisenhower and Kennedy there was no maximum tax rate, many paid upwards of 70, 80, or 90%. I would just love to pay 99% of my pay in taxes because I know that means I would have enough available cash to own a half dozen houses, a dozen boats and eat steak and lobster every day if I wanted to. We have a debt of over 30 trillion and we will never be able to get on top of that debt without collecting more taxes.

I read somewhere that to compare the cost to Bill Gates of buying a $150,000 Ferrari is equivalent to the average American family having to fork over a nickel. The Jeff Bezos and Elon Musks of the world could heat their homes burning $100 bills and they still could afford anything they want. Capitolism is great but it should have it's limits.
 
Althea said:
IMO, it's the disability side of SS that is causing the problems. The retirement checks are based on what you paid in. People who paid little or nothing get disability checks, and that is where there is monumental fraud taking place as well.
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yeah, we can kill and eat the invalids and people born with mental disabilities. Fraud in SS? It is an extremely well-run organization that has not missed a check in over 80 years. It runs on a tiny part of its budget.
 
PostmodernProphet said:
probably not......only the most ignorant would make the same mistake twice........
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Nominate him, make things easy for the democrats.

Republicans want to dump Trump.
Republicans inside and outside Washington fear Trump will cost the party the White House – again. He has continued to promote false conspiracy theories about the 2020 election, is under federal investigation and routinely trails President Joe Biden in national polls. He's a formidable candidate that history proves cannot win the November election.
https://www.usatoday.com/story/news...-2024-president-primary-election/11148386002/
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Concart said:
I recently moved off of hers when I reached full retirement which for me was 66 years and four months. That was last October. It was only half of what I get now but it still made sense. I retired at 64.

When the Roth first became available you were allowed to move all of your retirement to it and you had FIVE YEARS to pay the taxes. Just the best deal ever. I moved all of mine and then contributed the max. So the
Income I receive from that is zero taxed. generating principle is tax free. Really kind of absurd when you think about it. That income doesn’t count toward my income based Medicare penalty either. The rich get all the breaks.
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I'm 66+ and have no intention of retiring any time soon. I'm a scientist in the field of chemistry/toxicology and love what I do, why leave. I come in late and leave early and have more leave time than I know what to do with. I will wait until I can collect the maximum and then just bank it and keep working.
 
Nordberg said:
yeah, we can kill and eat the invalids and people born with mental disabilities. Fraud in SS? It is an extremely well-run organization that has not missed a check in over 80 years. It runs on a tiny part of its budget.
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There is not an insurance company in the world run with the efficiency of the Social Security Administration...nor with the economy of management.
 
Port Tack said:
I'm 66+ and have no intention of retiring any time soon. I'm a scientist in the field of chemistry/toxicology and love what I do, why leave. I come in late and leave early and have more leave time than I know what to do with. I will wait until I can collect the maximum and then just bank it and keep working.
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It was as tough for me to quit working too. But money wasn’t a factor so I’m just doing all the stuff I talked about when I was working. I lost my wife to lung cancer at 55 years old. I was lucky enough to find my soulmate late in life bu nothing is promised so I’m living my best life. Just bought a 27 foot Catalina and we’re also doing Italy in the fall and New York at Christmas. My best friend and I are playing around with VR rendering tools whether we ever make any money is beside the point. I miss the people more than I miss the work but I don’t regret pulling the trigger. It isn’t for everyone but I haven’t looked back.
 
Concart said:
It was as tough for me to quit working too. But money wasn’t a factor so I’m just doing all the stuff I talked about when I was working. I lost my wife to lung cancer at 55 years old. I was lucky enough to find my soulmate late in life bu nothing is promised so I’m living my best life. Just bought a 27 foot Catalina and we’re also doing Italy in the fall and New York at Christmas. My best friend and I are playing around with VR rendering tools whether we ever make any money is beside the point. I miss the people more than I miss the work but I don’t regret pulling the trigger. It isn’t for everyone but I haven’t looked back.
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I sold my J29 a few years ago. I raced sailboats practically my entire life from the Jersey shore all the way to St Martin in the Carribean but I'm done with that kinda work. I live on the Chesapeake, have a fishing boat and I'm thinking of pulling the trigger on this one or one like it. https://www.yachtworld.com/yacht/1988-monk-36-trawler-8589239/ This is the sort of think that might cause me to pull the trigger on that job and head for the islands mon.
 

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Port Tack said:
SS was designed to prevent millions from being broke in retirement. If one happens to be lucky enough to still make a lot of money in retirement then they should be told congratulations, you don't qualify for any.

Also when it comes to income taxes there should not be a maximum percent. If you make 100 million per year your tax rate should be upwards of 90%. That sounds like a lot but that means you are taking home after taxes 10 million dollars/yr. Just what can one not afford making that kind of money? That is about $200,000 per week after taxes. Nobody worked hard enough to make that sort of money, they were lucky. Lucky enough to have lived in a country that afforded them the ability to do such a thing, they need to thank that country by returning some of it. Back in the days of Eisenhower and Kennedy there was no maximum tax rate, many paid upwards of 70, 80, or 90%. I would just love to pay 99% of my pay in taxes because I know that means I would have enough available cash to own a half dozen houses, a dozen boats and eat steak and lobster every day if I wanted to. We have a debt of over 30 trillion and we will never be able to get on top of that debt without collecting more taxes.

I read somewhere that to compare the cost to Bill Gates of buying a $150,000 Ferrari is equivalent to the average American family having to fork over a nickel. The Jeff Bezos and Elon Musks of the world could heat their homes burning $100 bills and they still could afford anything they want. Capitolism is great but it should have it's limits.
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The wealthy fight means testing. They never have enough.
 
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