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  1. #1
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    Obama and Social Security

    Barick Obama is considering eliminating the social security tax cap to fund social security. This would continue the transformation of social security from an insurance program to a welfare program.

    Link: ABC News: Obama Floats Social Security Tax Hike



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    Re: Obama and Social Security

    Ohh come on! I love the social security freedom day. Just when I was thinking he would not be that bad of a pres, he pulls out the class warefare card. The rich get to pay for the ponzi scheme, and get no benefits from it.


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    Re: Obama and Social Security

    How are the old people going to survive without a welfare program - move in with their one boy or one girl They should have had more kids so they could family hop more kids' homes and survive on peanuts.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Obama and Social Security

    UGH! I just read that article, I think I am more ****** off than I was after the game last night. $97,000 in america is considered rich now? I call that middle class. Why do we force a 25% tax on americans because they are too stupid or ignorant to fund their own retirement? And then the people who do plan well, and save, invest in their 401k's, etc. get a penealty in the form of decreased benefits because they are responsible?


    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Obama and Social Security

    Quote Originally Posted by Wesley View Post
    How are the old people going to survive without a welfare program - move in with their one boy or one girl They should have had more kids so they could family hop more kids' homes and survive on peanuts.
    Fine let the people who are on it now stay on, but give me the chance to invest my 25% on my own. I would opt out in one second if I could. They can keep the 10's of thousands stolen from me already. Just let me out NOW!


    Last edited by brianhos; 09-23-2007 at 02:10 PM.
    They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety. - Benjamin Franklin 1775

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    Re: Obama and Social Security

    well said brianhos well said


    dan k

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    Re: Obama and Social Security

    Quote Originally Posted by brianhos View Post
    Fine let the people who are on it now stay on, but give me the chance to invest my 25% on my own. I would opt out in one second if I could. They can keep the 10's of thousands stolen from me already. Just let me out NOW!
    On the other hand, the money that is deducted from your paycheck has never been earmarked as "your cut". It has always been a program where the current working generation paid for the retirement of their parents' generation. For 70 years, people have been willing to pay so that their elders can retire with some security. Do we really want to be the generation that abandons this principle?

    I don't doubt that you could invest your social security taxes better than the SSA (who couldn't?), and I'm glad that I have my own private retirement plan so that I will not have to rely on social security, but if we change the system now we also have to come up with a way to fund the current retirees. Their money has already been spent on the people coming before them, so regardless we would be stuck with paying double.



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    Re: Obama and Social Security

    Quote Originally Posted by iceclone View Post
    On the other hand, the money that is deducted from your paycheck has never been earmarked as "your cut". It has always been a program where the current working generation paid for the retirement of their parents' generation. For 70 years, people have been willing to pay so that their elders can retire with some security. Do we really want to be the generation that abandons this principle?
    .
    You don't think that extra $$ would be pay? Companies structure that into the cost of hiring an employee, so if they dropped that 12.5% cut of their salary as a tax, much of it would go to the employee in the form of benefits or regular pay.


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    Re: Obama and Social Security

    Quote Originally Posted by brianhos View Post
    You don't think that extra $$ would be pay? Companies structure that into the cost of hiring an employee, so if they dropped that 12.5% cut of their salary as a tax, much of it would go to the employee in the form of benefits or regular pay.
    Sure, the extra money for you would be nice for you. Just like I could think of many uses for my social security payroll tax. But how will we pay for the current retirees?



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    Re: Obama and Social Security

    Like all ponzi schemes, SoSo Security is doomed to failure.



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    Re: Obama and Social Security

    Quote Originally Posted by neo View Post
    Like all ponzi schemes, SoSo Security is doomed to failure.
    Agreed, but I would like us to try to bring it to a soft landing.



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    Re: Obama and Social Security

    Quote Originally Posted by iceclone View Post
    On the other hand, the money that is deducted from your paycheck has never been earmarked as "your cut". It has always been a program where the current working generation paid for the retirement of their parents' generation. For 70 years, people have been willing to pay so that their elders can retire with some security. Do we really want to be the generation that abandons this principle?

    I don't doubt that you could invest your social security taxes better than the SSA (who couldn't?), and I'm glad that I have my own private retirement plan so that I will not have to rely on social security, but if we change the system now we also have to come up with a way to fund the current retirees. Their money has already been spent on the people coming before them, so regardless we would be stuck with paying double.
    But every successive generation pays more - it is not possible to maintain unless we start kicking out babies like crazy.

    Its may be the way it is, but its far from a "principle"



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    Re: Obama and Social Security

    Quote Originally Posted by iceclone View Post
    On the other hand, the money that is deducted from your paycheck has never been earmarked as "your cut". It has always been a program where the current working generation paid for the retirement of their parents' generation. For 70 years, people have been willing to pay so that their elders can retire with some security. Do we really want to be the generation that abandons this principle?

    I don't doubt that you could invest your social security taxes better than the SSA (who couldn't?), and I'm glad that I have my own private retirement plan so that I will not have to rely on social security, but if we change the system now we also have to come up with a way to fund the current retirees. Their money has already been spent on the people coming before them, so regardless we would be stuck with paying double.
    Yes we need to be abandon the current social security structure. We need to be the generation that faces up to what social security is; a giant ponzi scheme.



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    Re: Obama and Social Security

    Quote Originally Posted by brianhos View Post
    $97,000 in america is considered rich now? I call that middle class.
    According to the 2006 census, only 6.18% of income earners make $95,000 or more, so, yes, someone with over $97,000 of personal compensation income is somewhat more affluent than "middle class."

    This is no argument to repeal the exemption, and we could debate all day the benefits and detriments of the regressive social security tax system (that certainly benefits lower-income people at a higher rate, though, as well,) but six-figure personal compensation income is by no means middle class.



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    Re: Obama and Social Security

    Quote Originally Posted by alaskaguy View Post
    Yes we need to be abandon the current social security structure. We need to be the generation that faces up to what social security is; a giant ponzi scheme.
    I don't really disagree with you about the ponzi scheme comment. (Although I usually refer to it as a pyramid scheme.) In any case, social security is clearly not sustainable. But on the other hand, I don't think it is fair to cut off people who paid into the system for 40 years and worked all their lives under the assumption that they would receive social security. Thus, the only solutions that I see involve me paying double



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