Re: Whoopi Snaps At Trump, Says If He Touches Entitlements, "We Could Put You In Jail"

shawn <nanoflower@notforg.m.a.i.l.com> wrote:

Sat, 16 Mar 2024 12:59:41 -0700, The Horny Goat <lcraver@home.ca> wrote:

Fri, 15 Mar 2024 04:30:52 -0400, Ubiquitous <weberm@polaris.net> wrote:

Ubi the shithead is plagarizing. He didn't write this. He doesn't write
shit.

There are a few simple facts of the matter with regard to Social
Security.  One, we don’t have the money for it: it’s a Ponzi
scheme. We don’t have enough young people to pay for it, and life
expectancy has increased. This means that by 2033, we will in fact be
forced to cut benefits or raise taxes.  There is no third option.

Except there is a third choice that has been proposed for a long time
which is to raise or eliminate the limit on what income can be taxed
for Social Security. So currently the base limit is $168,600 so any
money earned over that amount doesn't get taxed for Social Security.
Eliminate that limit and there's more than enough money to pay out the
benefits going forward without hurting anyone.

That's simply not true. Uncapping the earned income tax base while not
raising the pension benefit -- which is what you are suggesting -- is
politically infeasible and changes the way Social Security is set up.

Of course there is a third way, and it was suggested by the Problem
Solvers Caucus in Congress: Take a new pot of money and invest it
according to sound principles, and after repaying the federal treasury,
pay out its income in increased retirement benefits that the Social
Security Tax won't cover.

The example of the sound investment strategy is the Alaska Permanent Fund.