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Re: What American Wants Their Social Security Cut?

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Message 11 of 33

@mickstuder wrote:

@NOTHAPPENING wrote:

@mickstuder wrote:

Ever since Social Security came into existence, Republican politicians and their billionaire donors have attempted to destroy it. As an effective and incredibly popular government program, it is anathema to the GOP's anti-government ideology.

 

But precisely because it is so popular, including with Republican voters, attacks on our nation's Social Security system have failed time and time again.

 

Now Republican politicians are ramping up for a new, sneaky assault: Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits

 

The first iteration of this scheme came from Rep. Tom Garrett (R-Va.) who recently introduced the so-called Student Security Act of 2017. This bill would allow young people to pay off a portion of their student loans with their future Social Security benefits. It would force them to choose between financial security in young adulthood and financial security in retirement.

 

In a recent Wall Street Journal op-ed, Kristin Shapiro and Andrew Biggs proposed a similar plan to fund paid parental leave. This plan has all of the same pitfalls as Garrett’s, but thus far it has gotten more attention. Two major figures in the Republican Party, Sen. Marco Rubio (R-Fla.) and Ivanka Trump, are reportedly fans of the idea.

 

Like Garrett’s bill, the Shapiro-Biggs plan is an attack on young people. Our country faces a looming retirement crisis caused by the decline of traditional pensions, the inadequacy of 401(k)s, and decades of stagnant wages. The younger you are, the more serious the crisis.

 

Today, two-thirds of seniors rely on Social Security for most of their income; one-third rely on those modest earned benefits for virtually all of their income. Those percentages will go up as today’s young people age.

 

We are the wealthiest country in the world at the wealthiest moment in our history. The United States of America can afford tuition-free public college, paid family leave (as well as medical and caregiving leave, which Shapiro and Biggs do not mention), and expanded Social Security benefits. We just need to require the wealthiest among us to contribute their fair share.

 

Over the last 50 years, workers have generated enormous increases in productivity.

 

But it’s their bosses who have reaped the gains. Billionaires, along with their bought and paid-for politicians, have rigged the system to benefit themselves instead of working people. The resulting explosion of wealth and income inequality is both immoral and destabilizing. Our country should fight that inequality by (1) expanding Social Security both to increase benefit levels and add paid family and medical leave, and (2) making public colleges tuition free. Citizens in other, less wealthy nations already enjoy these benefits.

 

Source - https://thehill.com/blogs/congress-blog/politics/373490-the-latest-devious-republican-attack-on-soci...

 

 


Your third paragraph said it all: "Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits. ".

 

Notice the word "Offering" and the word "if"? This bill IF PASSED, would offer choice - something the left hates.  It did NOT require any to give up future benefits!


I did NOTICE THAT -

 

Social Security and Medicare trustees confirm: GOP policies have hurt both programs

 

The tax cuts enacted by Republicans and signed into law by Trump in December also will have a negative effect on Social Security in the near term, chiefly by reducing the program’s income from the taxation of benefits. “As a whole, the law has a significant net negative effect on the financial status of the OASDI program [that is, the retirement and disability components together] the trustees said.

 

Source - http://www.latimes.com/business/hiltzik/la-fi-hiltzik-social-security-20180605-story.html

 

 

 

 


I read the entire article because I was curious how Trump's income tax cuts would effect Medicare & SS and I have concluded that you are correct, that the article says it would have an adverse effect but I still can't figure out how? Trump just cut taxes and didn't change the percentages for SS/Medicare so "where's the beef"?

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Re: What American Wants Their Social Security Cut?

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Message 12 of 33

@NOTHAPPENING wrote:

@mickstuder wrote:

Ever since Social Security came into existence, Republican politicians and their billionaire donors have attempted to destroy it. As an effective and incredibly popular government program, it is anathema to the GOP's anti-government ideology.

 

But precisely because it is so popular, including with Republican voters, attacks on our nation's Social Security system have failed time and time again.

 

Now Republican politicians are ramping up for a new, sneaky assault: Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits

 

The first iteration of this scheme came from Rep. Tom Garrett (R-Va.) who recently introduced the so-called Student Security Act of 2017. This bill would allow young people to pay off a portion of their student loans with their future Social Security benefits. It would force them to choose between financial security in young adulthood and financial security in retirement.

 

In a recent Wall Street Journal op-ed, Kristin Shapiro and Andrew Biggs proposed a similar plan to fund paid parental leave. This plan has all of the same pitfalls as Garrett’s, but thus far it has gotten more attention. Two major figures in the Republican Party, Sen. Marco Rubio (R-Fla.) and Ivanka Trump, are reportedly fans of the idea.

 

Like Garrett’s bill, the Shapiro-Biggs plan is an attack on young people. Our country faces a looming retirement crisis caused by the decline of traditional pensions, the inadequacy of 401(k)s, and decades of stagnant wages. The younger you are, the more serious the crisis.

 

Today, two-thirds of seniors rely on Social Security for most of their income; one-third rely on those modest earned benefits for virtually all of their income. Those percentages will go up as today’s young people age.

 

We are the wealthiest country in the world at the wealthiest moment in our history. The United States of America can afford tuition-free public college, paid family leave (as well as medical and caregiving leave, which Shapiro and Biggs do not mention), and expanded Social Security benefits. We just need to require the wealthiest among us to contribute their fair share.

 

Over the last 50 years, workers have generated enormous increases in productivity.

 

But it’s their bosses who have reaped the gains. Billionaires, along with their bought and paid-for politicians, have rigged the system to benefit themselves instead of working people. The resulting explosion of wealth and income inequality is both immoral and destabilizing. Our country should fight that inequality by (1) expanding Social Security both to increase benefit levels and add paid family and medical leave, and (2) making public colleges tuition free. Citizens in other, less wealthy nations already enjoy these benefits.

 

Source - https://thehill.com/blogs/congress-blog/politics/373490-the-latest-devious-republican-attack-on-soci...

 

 


Your third paragraph said it all: "Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits. ".

 

Notice the word "Offering" and the word "if"? This bill IF PASSED, would offer choice - something the left hates.  It did NOT require any to give up future benefits!


I did NOTICE THAT -

 

Social Security and Medicare trustees confirm: GOP policies have hurt both programs

 

The tax cuts enacted by Republicans and signed into law by Trump in December also will have a negative effect on Social Security in the near term, chiefly by reducing the program’s income from the taxation of benefits. “As a whole, the law has a significant net negative effect on the financial status of the OASDI program [that is, the retirement and disability components together] the trustees said.

 

Source - http://www.latimes.com/business/hiltzik/la-fi-hiltzik-social-security-20180605-story.html

 

 

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Re: What American Wants Their Social Security Cut?

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Message 13 of 33

@mickstuder wrote:

Ever since Social Security came into existence, Republican politicians and their billionaire donors have attempted to destroy it. As an effective and incredibly popular government program, it is anathema to the GOP's anti-government ideology.

 

But precisely because it is so popular, including with Republican voters, attacks on our nation's Social Security system have failed time and time again.

 

Now Republican politicians are ramping up for a new, sneaky assault: Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits

 

The first iteration of this scheme came from Rep. Tom Garrett (R-Va.) who recently introduced the so-called Student Security Act of 2017. This bill would allow young people to pay off a portion of their student loans with their future Social Security benefits. It would force them to choose between financial security in young adulthood and financial security in retirement.

 

In a recent Wall Street Journal op-ed, Kristin Shapiro and Andrew Biggs proposed a similar plan to fund paid parental leave. This plan has all of the same pitfalls as Garrett’s, but thus far it has gotten more attention. Two major figures in the Republican Party, Sen. Marco Rubio (R-Fla.) and Ivanka Trump, are reportedly fans of the idea.

 

Like Garrett’s bill, the Shapiro-Biggs plan is an attack on young people. Our country faces a looming retirement crisis caused by the decline of traditional pensions, the inadequacy of 401(k)s, and decades of stagnant wages. The younger you are, the more serious the crisis.

 

Today, two-thirds of seniors rely on Social Security for most of their income; one-third rely on those modest earned benefits for virtually all of their income. Those percentages will go up as today’s young people age.

 

We are the wealthiest country in the world at the wealthiest moment in our history. The United States of America can afford tuition-free public college, paid family leave (as well as medical and caregiving leave, which Shapiro and Biggs do not mention), and expanded Social Security benefits. We just need to require the wealthiest among us to contribute their fair share.

 

Over the last 50 years, workers have generated enormous increases in productivity.

 

But it’s their bosses who have reaped the gains. Billionaires, along with their bought and paid-for politicians, have rigged the system to benefit themselves instead of working people. The resulting explosion of wealth and income inequality is both immoral and destabilizing. Our country should fight that inequality by (1) expanding Social Security both to increase benefit levels and add paid family and medical leave, and (2) making public colleges tuition free. Citizens in other, less wealthy nations already enjoy these benefits.

 

Source - https://thehill.com/blogs/congress-blog/politics/373490-the-latest-devious-republican-attack-on-soci...

 

 


Your third paragraph said it all: "Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits. ".

 

Notice the word "Offering" and the word "if"? This bill IF PASSED, would offer choice - something the left hates.  It did NOT require any to give up future benefits!

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Re: What American Wants Their Social Security Cut?

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Message 14 of 33

@cstotes wrote:

 No links required. lol


Funny!

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Re: What American Wants Their Social Security Cut?

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Message 15 of 33

Ever since Social Security came into existence, Republican politicians and their billionaire donors have attempted to destroy it. As an effective and incredibly popular government program, it is anathema to the GOP's anti-government ideology.

 

But precisely because it is so popular, including with Republican voters, attacks on our nation's Social Security system have failed time and time again.

 

Now Republican politicians are ramping up for a new, sneaky assault: Offering to provide young Americans some relief from crippling student debt and our country's shameful lack of paid family leave — if they forfeit some of their future Social Security benefits

 

The first iteration of this scheme came from Rep. Tom Garrett (R-Va.) who recently introduced the so-called Student Security Act of 2017. This bill would allow young people to pay off a portion of their student loans with their future Social Security benefits. It would force them to choose between financial security in young adulthood and financial security in retirement.

 

In a recent Wall Street Journal op-ed, Kristin Shapiro and Andrew Biggs proposed a similar plan to fund paid parental leave. This plan has all of the same pitfalls as Garrett’s, but thus far it has gotten more attention. Two major figures in the Republican Party, Sen. Marco Rubio (R-Fla.) and Ivanka Trump, are reportedly fans of the idea.

 

Like Garrett’s bill, the Shapiro-Biggs plan is an attack on young people. Our country faces a looming retirement crisis caused by the decline of traditional pensions, the inadequacy of 401(k)s, and decades of stagnant wages. The younger you are, the more serious the crisis.

 

Today, two-thirds of seniors rely on Social Security for most of their income; one-third rely on those modest earned benefits for virtually all of their income. Those percentages will go up as today’s young people age.

 

We are the wealthiest country in the world at the wealthiest moment in our history. The United States of America can afford tuition-free public college, paid family leave (as well as medical and caregiving leave, which Shapiro and Biggs do not mention), and expanded Social Security benefits. We just need to require the wealthiest among us to contribute their fair share.

 

Over the last 50 years, workers have generated enormous increases in productivity.

 

But it’s their bosses who have reaped the gains. Billionaires, along with their bought and paid-for politicians, have rigged the system to benefit themselves instead of working people. The resulting explosion of wealth and income inequality is both immoral and destabilizing. Our country should fight that inequality by (1) expanding Social Security both to increase benefit levels and add paid family and medical leave, and (2) making public colleges tuition free. Citizens in other, less wealthy nations already enjoy these benefits.

 

Source - https://thehill.com/blogs/congress-blog/politics/373490-the-latest-devious-republican-attack-on-soci...

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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Re: What American Wants Their Social Security Cut?

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Message 16 of 33

@Olderscout66 wrote:

Not a single Republican now supports raising the cap on FICA contributions.

 

Instead they want to increase the percentage of income collected UNDER the cap, increase the retirement age and reduce benefits by changing the COLA calculation.

 

So the 90% will pay more, work longer and receive less. That is CUTTING SOCIAL SECURITY.

 

Only solution to avoid the cut is to get rid of the GOPers who demand that be the solution and elect a Congress and Senate who will raise the cap to where it was (relative to total income) under Reagan - just a shade over $250,000 today.

Only people impacted at all are those earning over $119,000 who will contribute the same portion of income as those earning $19,000.

 

But the Uberrich will not get all the goodies, so GOPers will never agree, hence the necessity of getting them out of the path of progress and save the system for the 99%.

 

 


SS was not designed as a full retirement program. It was a "bare necessities" provider. And since the payout is based on the pay in raising the cap makes no sense.

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Re: What American Wants Their Social Security Cut?

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Message 17 of 33

@Olderscout66 wrote:

 

 

Every Republican elected in the last 30 years has believed Social Security was socialism AND WANTED IT ENDED.

 

Can you substantiate that outrageous claim? If not, it's just another one of "those" facts.

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Re: What American Wants Their Social Security Cut?

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Message 18 of 33

Not a single Republican now supports raising the cap on FICA contributions.

 

Instead they want to increase the percentage of income collected UNDER the cap, increase the retirement age and reduce benefits by changing the COLA calculation.

 

So the 90% will pay more, work longer and receive less. That is CUTTING SOCIAL SECURITY.

 

Only solution to avoid the cut is to get rid of the GOPers who demand that be the solution and elect a Congress and Senate who will raise the cap to where it was (relative to total income) under Reagan - just a shade over $250,000 today.

Only people impacted at all are those earning over $119,000 who will contribute the same portion of income as those earning $19,000.

 

But the Uberrich will not get all the goodies, so GOPers will never agree, hence the necessity of getting them out of the path of progress and save the system for the 99%.

 

 

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Re: What American Wants Their Social Security Cut?

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Message 19 of 33

What American Wants Their Social Security Cut?

 

Every American who votes for any Republican ever.

 

How so?

 

Every Republican elected in the last 30 years has believed Social Security was socialism AND WANTED IT ENDED. This is why they refuse to raise the cap on contributions to fix the system while retaining all the current benefits.

 

Instead they insist the bottom 90% must work longer, pay more and receive less.

 

Not sure why those who vote Republican would be surprised the system is in trouble - they elected a group that has opposed the whole idea of SS since it was created and have NEVER renounced their belief it was SOCIALIST.

 

Whenever GOPers had the power, they undercut SS under the guise of not raising taxes.

 

Want to keep your SS benefits past 2030?

VOTE OUT THE NRAGOP IN NOVEMBER 2018

There is no other way to save the system.

 

 

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Re: What American Wants Their Social Security Cut?

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Message 20 of 33

@rk9152 wrote:

@CriticalThinking wrote:

RK wrote, “ who blamed Obama??

 

CTOTES wrote, SS and Medicare have already been cut by the previous administration. No cost of living increases and increases in premiums for Medicare” ……..”The democrats are the ones responsible for robbing from the funds and for increasing premiums. No links required. Lol”


Well, it's true that there were some very low COLA years under Obama. And it was LBJ who put the SS reserve funds in to the general fund. 

 

But the issue is that this has been a continuing and forecast problem. If posters want to stick it totally to Trump, other Presidents have to be brought in to make it an honest discussion.


When one understands SS they know the cola is based on the economy which was tanked during the last years of Bush. We were in a recession so you do not get increases until there is a change for the better which is after we left recession status. Obama got us out of that so we now see increases again. Trump supports a change in the way the COLA is computed and we would all get less if he has his way. He needs the money saved to pay for the tax cut to the rich.

The SS funds can and are loaned to the US via notes which pay interest to the SS Trust fund. They have never been put into the general fund.

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