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All-In [48078]
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Trump says he now will cut entitlements.
Mar 6, 2020, 5:24 AM
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That means Social Security and Medicare obviously. What do you guys think about that? I don't care either way, but last month he tweeted he will not. Now he says he will. Also, he says we will be seeing growth like we have never seen coming up. There is supposed to be really weak growth over the next couple of years, which is not his fault. That said, he just seems to say anything. Do you mind him cutting your SS and Medicare? Here is a biased link, but it was on tv as well and I watched. How do you read the situation?
https://www.thedailybeast.com/dems-pounce-after-president-trump-says-in-fox-news-town-hall-that-he-intends-to-cut-entitlements
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Legend [15763]
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I didn’t read the link but just going off of your post,
Mar 6, 2020, 6:38 AM
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Not only am I okay with it but I highly encourage it...IF it means balancing the budget and chipping away at our debt. The amazing thing is that it probably wouldn’t.
Last year, with about the lowest unemployment ever and the best stock market ever, we had nearly a trillion dollar deficit. That is absurd. Infuriating really. There are no sacred cows and everything should be on the chopping block.
Since I was in high school, my generation has been told, cynically, that SS wouldn’t even be around by the time I retire, and I’m 45.
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Heisman Winner [112484]
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Re: I didn’t read the link but just going off of your post,
Mar 6, 2020, 7:02 AM
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but I thought all of the extra economic activity and growth would raise revenue enough to offset the tax cuts. Haven't we been hearing this for the last 40 years?
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Legend [15763]
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Everything I read shows federal revenues going up every year.
Mar 6, 2020, 9:06 AM
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But not as much as spending.
The tax cuts, in my opinion, were a great thing for the country. The spending is out of control.
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Heisman Winner [112484]
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Re: Everything I read shows federal revenues going up every year.
Mar 6, 2020, 6:40 PM
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You cut off food stamps, welfare, social security, etc, Walmert lays off 1/3rdof its employees because that is a huge chunk of their revenue, as it is with a lot of retailers. I mean it is one to one in so far as what is given in entitlements, and what is circulated back through the economy in consumer spending. The same can not be said for tax cuts to wealthy people who already have more than they can spend in their life times.
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CU Guru [1164]
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Tigerbalm... stop lumping SS in with entitlements
Mar 6, 2020, 7:12 PM
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Are you really that stupid? Sometimes I think so. This is beyond ignorance... the facts have been laid out in front of you and still you just don't get it... or don't want to. Read the above again. Try to have your feeble mind comprehend. SS is apart from tax. It has its own money in its own account. It is not broke. It does not add to the national debt. If you want to make a point about the wealthy being undertaxed then fine... but leave SS out of it. If anything, the salary limit on SS should be increased.
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All-In [48078]
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Legend [15763]
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I have posted my bewilderment at our military spending
Mar 6, 2020, 8:53 AM
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numerous time. In is indefensible (ironically) to spend almost triple the next largest spender on military and about as much as the next eight countries combined.
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CU Medallion [73570]
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He's been saying this since he ran
Mar 6, 2020, 7:14 AM
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At least I remember.
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All-In [48078]
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Re: He's been saying this since he ran
Mar 6, 2020, 7:16 AM
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He tweeted last month that he would not. He has gone back and forth. Last month, like stated, he tweeted that he would not.
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Commissioner [948]
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Re: Trump says he now will cut entitlements.
Mar 6, 2020, 7:19 AM
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He needs to stop SS disability abuse, which costs us $billions per year. My wife's niece got breast cancer when she was 25 and left her teaching job after getting OK'd for SS disability. She's been on it for 20+ years and currently receives $2k per month, yet she travels the country, does high adventure stuff, motorcycle trips, etc. Can you say abuse? And Medicare needs to be seriously "means tested", where enormously wealthy folks should receive some, but not all benefits. Do you think Joe Namath needs a ride to the doctor ... or meals brought to his house. As "sleepy Joe" would say, "C'mon, man!".
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All-In [48078]
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Re: Trump says he now will cut entitlements.
Mar 6, 2020, 7:25 AM
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I agree. I know an able bodied person who is 49 and they put him on disability for mental issues. He is totally fine. I am not even sure how he pulled it all off.
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All-In [32043]
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Why is that obvious? Don't entitlements also include...
Mar 6, 2020, 7:22 AM
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medicaid, welfare, fed unemployment, etc...?
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All-In [48078]
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Re: Why is that obvious? Don't entitlements also include...
Mar 6, 2020, 7:23 AM
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True. He said everything is on the table.
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Oculus Spirit [98219]
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Entitlements are the largest contributor to out deficits
Mar 6, 2020, 7:45 AM
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Our deficits for years from not cutting entitlements is what will prevent us from responding as well as other nations will to this virus. This isn't something that can be written off.
Debt is manageable until an external factor makes it crippling.
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CU Medallion [60469]
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Re: Trump says he now will cut entitlements.
Mar 6, 2020, 8:04 AM
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Raise the SS age while he is at it, that would spark some realy good controversy, but it needs to happen.
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All-In [47023]
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It needs to be done
Mar 6, 2020, 8:10 AM
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but would be political suicide in an election year since most of his base is older
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All-In [48078]
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Oculus Spirit [76015]
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I've got a problem with cutting social security and
Mar 6, 2020, 8:06 AM
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medicare. I also have a problem with social security wage base limit being only $137,700. We could probably run that up to about $300,000 or so.
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Orange Blooded [4628]
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I'd also like to see the SS Wage Base increased, as you said
Mar 6, 2020, 8:42 AM
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On the flip side, I'd also like to see SS payments be capped on income.
I've seen tax returns with over $1 million in income where the taxpayer is receiving SS benefits - that is ridiculous. F the argument that they've paid into the system and should receive the benefits. SS should be a safety net, not extra vacation money.
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All-In [32043]
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I've never understood why that would really help SS....
Mar 6, 2020, 8:48 AM
[ in reply to I've got a problem with cutting social security and ] |
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if you increase the contribution limit, you also increase the benefit payout, since the payout is based on what you pay in.
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Oculus Spirit [76015]
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Maybe you don't increase the payout.
Mar 6, 2020, 12:47 PM
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I don't think any of us would hate paying social security taxes if we knew we'd be getting back what we put in rather than $0.70 on the dollar (random figure)
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Rock Defender [54]
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George W tried to privatize and it was called
Mar 6, 2020, 12:58 PM
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All-In [26968]
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The President can't cut entitlements.
Mar 6, 2020, 8:15 AM
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He can ask Congress to do so.
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CU Medallion [60469]
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Re: The President can't cut entitlements.
Mar 6, 2020, 8:17 AM
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you are the worst....easily the worst.
completely insufferable. more than balm or fbcoach.
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All-In [26968]
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OK.
Mar 6, 2020, 8:17 AM
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If my posts displease you, I would recommend that you do not read them. I enjoy your posts, usually.
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110%er [6101]
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CU Guru [1164]
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Ok folks... time for a little fed budget lesson
Mar 6, 2020, 9:32 AM
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I am constantly amazed at the rampant ignorance about the federal budget(s)
There are essentially two of them. Discretionary and Mandatory. The government votes on the discretionary every year. Mandatory is more or less set in stone. The total of the two is the real budget. Discretionary is where the military is and, by separating Discretionary and Mandatory, it looks large because of the separation. Entitlements are totally... totally... in the Mandatory and dwarf military.
Social Security is a fund by itself and was paid for by people most of their lives. It was folded into the Mandatory budget to make it look like an entitlement (and from most comments I read here, that is believed) It is not an entitlement, it is paid into directly by every one of us who works... not taxes... on TOP of taxes. It is not funded by taxes... believing that is BS. It has its own account separate from everything else in both discretionary and mandatory budgeting. The payouts are completely funded by that account. Changing the age or payouts will NOT affect tax spending at all. It is currently estimated that the account will go broke in 2035. Changing payouts or age requirements are only designed to make that date go out further.
Frankly, Social Security is a huge chunk of money that the government wants to get its hands on and has for several decades been characterized as an entitlement so it could be grabbed. BS.
Don't be ignorant people.
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All-In [47023]
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Don't believe that timeframe
Mar 6, 2020, 9:44 AM
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once the boomers die out it will relieve some stress on the account. Problem right now is you have this massive population group that is at SS age to withdrawal and you don't have enough of the population groups paying in to cover it.
Wait until the boomers die and some of that pressure will be relieved.
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CU Guru [1164]
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Re: Don't believe that timeframe
Mar 6, 2020, 9:51 AM
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You might be right about the die out of the boomers. I am reading projections that say the "senior" population will begin to decline after 2030.
Medicare and medicaid ARE entitlements. Social Security is not... and confusing those things is intentional and deeply troubling.
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Rock Defender [54]
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Why do you say Medicare is an entitlement but SS isn't?
Mar 6, 2020, 8:26 PM
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Rock Defender [54]
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Two more good articles
Mar 6, 2020, 8:40 PM
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CU Guru [1164]
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Absolutely not.
Mar 6, 2020, 8:43 PM
[ in reply to Why do you say Medicare is an entitlement but SS isn't? ] |
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SS has its own account and is not paid out of general fund of the US. Play the words any way you want... the 6.2 goes to a separate fund solely intended for SS. You are correct about medicare and I don't mind saying that I misspoke. Still, trying to include these with entitlements is a fallacious.
So... what difference does it make about the 15yrs out. If the salary limit is increased, then that would change rather quickly... an what happens then is pure conjecture... nothing else.
You can quibble about when and who can get SS all you want. Perhaps to satisfy your desire for exactness I should have said people paid in their working life. However, that does not change the fact that the funds have nothing to do with tax and are not entitlements.
Saying that the payment comes from the government as an expenditure is disingenuous because, in fact, the payments come from different sources. If my wife has her own account and so do I, the checks may come from our family but from different sources. Sorry, that argument holds no water at all.
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Rock Defender [54]
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Re: Absolutely not.
Mar 6, 2020, 9:11 PM
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CU Guru [1164]
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Re: Absolutely not.
Mar 6, 2020, 9:40 PM
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Have read that article and several like it before.
You said it yourself, it is not a part of the federal income tax. Separate "tax" entirely that does not go into the general fund.
Again, you say the "conjecture" is based on SS best "assumption". You suggest several possible changes that can be made to influence the projected outcome. What honestly makes you thinl that such changes... or ones that you or I have not considered... will come to pass. Fifteen years is a goodly amount of time for people to make changes. So what exactly makes their "assumption" any different from "conjecture"? And none of that makes any difference to whether or not SS is an entitlement. Do kindly stay with the subject.
Again you go down the road of quibbling about who and when can benefits come along and how much relative to their payments. Again, that makes no difference in terms of being an entitlement and how funded. Do kindly stay on topic.
As to your last point... its was NOT included in the federal budget until 1968 by LBJ. That's 33 years when it was not. It remains a trust intended solely for SS purposes... NOT an entitlement.
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Rock Defender [54]
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I really don't see how this is confusing
Mar 6, 2020, 9:52 PM
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CU Guru [1164]
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Re: Don't believe that timeframe
Mar 6, 2020, 10:20 AM
[ in reply to Don't believe that timeframe ] |
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Another interesting little fact.
In 1935 (when SS was started) the retirement age was 65. Average lifespan of a US male? 60 Female? 64
The intent was to not payout for more than half the population who contributed... at least that's the way the numbers look.
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Recruit [92]
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Re: Trump says he now will cut entitlements.
Mar 6, 2020, 10:51 AM
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This! This is a brilliant move. Since a lot of medicaid goes to pay for nursing homes, cutting it would close lots of nursing homes, sending grandma and grandpa, home. This saves them from being exposed to the coronavirus. What great mitigation technique AND we cut taxes. MAGA
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Rock Defender [54]
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Re: Trump says he now will cut entitlements.
Mar 6, 2020, 12:07 PM
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Oculus Spirit [94340]
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Did you watch Trump's town hall last night?***
Mar 6, 2020, 12:12 PM
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Replies: 39
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