View Full Version : Pay more - get less.....
"Hoyer: Permanent middle class tax cuts too costly"
http://www.breitbart.com/article.php?id=D9GGCVE00&show_article=1
".......Republicans argue that many of the high earners who would face tax increases under Obama's plan are small business owners struggling to stay afloat in a tough economy.............."
"High earner" is a family over $250,000 - that includes many, many small business owners who file with a schedule C.
and down at the bottom
".....On the spending side, Hoyer said Congress should consider raising the retirement age for full Social Security and Medicare benefits, and making those benefits progressive so that wealthier recipients get less than the needy ...."
6.8SPC_DUMP
06-23-2010, 20:31
With this job market, even raising the retirement age to receive benefits and cutting off the people who don't come close to relying on the SS Trust Funds to pay their bills, won't solve the problem indefinitely. At least it's an effort and IMO one of the less harsh options. Politicians have avoided the issue because it's not going to make ANYONE happy.
FDR and every President since have dipped into SS Trust Funds. In 1968 LBJ/Congress started listing SSTF revenues as general revenues to pretty up the budget deficit total. Currently we are left with a 2.5 Trillion IOU and more is paid out than collected on benefits. Anyone, 3 years ago, who accurately predicted the drop in revenues from FICA and SECA would have been considered an alarmist.
.......Very unfair, unfortunately, what he is saying may be true, the only way to shore it up might be to turn it into a form of welfare program (higher earners pay in money they don't get back to subsidize the poorer who paid in less because the system is too lacking in money)......................
Under the table cash payments.
Lots of people taking cash payments are not reporting all their earnings to the Government and the IRS. The waitress paid in tips, the lawm care guy paid in cash or checks made out in his name, the handy man doing odd jobs.
But yet when they hit retirement age they'll step up and want "their fair share" of the SS Fund - the same fund they've been cheating the last 40 years.
So, as you say, it is a welfare program already. Look for the cap on earnings to go away next - because the evil rich don't need all that extra money THAT THEY WORKED FOR .
craigepo
06-24-2010, 07:43
"On the spending side, Hoyer said Congress should consider raising the retirement age for full Social Security and Medicare benefits, and making those benefits progressive so that wealthier recipients get less than the needy."
Very unfair, unfortunately, what he is saying may be true, the only way to shore it up might be to turn it into a form of welfare program (higher earners pay in money they don't get back to subsidize the poorer who paid in less because the system is too lacking in money).
Maybe in the future SS will be gradually phased out and replaced with something that does the same job, but more efficiently.
As you will note from the attachment, the evil "rich" people already receive less on their social security benefits than the poor. Also, interestingly, in 1945 the ratio of workers paying into social security to those receiving was 41:1; today it is approximately 3:1. http://www.justfacts.com/socialsecurity.asp
At least once per week, I watch either the state or federal government come in and lock down an old person's assets, to ensure repayment for governmental expeditures that keep the old person in the nursing home until death. I would surmise that the idea of retiring at age 65, then sitting on one's butt for 20 years, will soon be untenable.
However, I defer to Nmap on all things economic.
"California welfare cards can be used in many casino ATMs"
http://www.latimes.com/news/local/la-me-welfare-casinos-20100624,0,6190326.story
".....The cards, provided by the Department of Social Services to help recipients feed and clothe their families, work in automated teller machines at 32 of 58 tribal casinos and 47 of 90 state-licensed poker rooms, the review found...."
This is just one of many reasons why I think the whole welfare system is a sham.
Anyone who used an EBT card in a casino should be dropped from all welfare programs for life.
Just my opinion - of course.
The Reaper
06-24-2010, 15:04
"California welfare cards can be used in many casino ATMs"
http://www.latimes.com/news/local/la-me-welfare-casinos-20100624,0,6190326.story
".....The cards, provided by the Department of Social Services to help recipients feed and clothe their families, work in automated teller machines at 32 of 58 tribal casinos and 47 of 90 state-licensed poker rooms, the review found...."
This is just one of many reasons why I think the whole welfare system is a sham.
Anyone who used an EBT card in a casino should be dropped from all welfare programs for life.
Just my opinion - of course.
Concur.
TR