It really bothers me that I am paying in to something I will never benefit from.
The latest estimates are that SS is at a deficit of over three TRILLION dollars.
Neither one of the presidential candidates wants to tackle real refom, so SS will go bankrupt - or we will need to keep raising taxes astronomically.
Current indications are that, for SS to stay solvent, the three tax brackets would neeed to be raised as follows.
Low income would be taxed at 25% of income.
Middle class would be taxed at 66% of income.
Wealthy would be taxed at 80% of income.
Insane!
That ship done sailed!
Whutteryagonnadewaboutit?
It's the perfect storm. Everything is in crisis, and the bulk of the population is too stupid to realize that government caused most of the crisis, so they will beg government to give them a solution. Because they are too stupid to realize that the government solution will be worse than the current problems, plus it will add to their "dependency" (enslavement)
Study natural law and natural rights, and realize that the majority of the regulations governing our behaviors today are not legitimate law, and as such, a citizen has no obligation to obey them and a duty to correct the matter.
How to go about this without getting killed is another story altogether . . .
__________________
Engineering solutions for theological problems.
Despite today's rising cost of living, it remains popular.
"It has been said that democracy is the worst form of government except all the others that have been tried." - Sir Winston Churchill
"The best argument against democracy is a five-minute conversation with the average voter." - Sir Winston Churchill
"They who would give up an essential liberty for temporary security, deserve neither liberty or security." - Benjamin Franklin
It really bothers me that I am paying in to something I will never benefit from.
The latest estimates are that SS is at a deficit of over three TRILLION dollars.
Neither one of the presidential candidates wants to tackle real refom, so SS will go bankrupt - or we will need to keep raising taxes astronomically.
Current indications are that, for SS to stay solvent, the three tax brackets would neeed to be raised as follows.
Low income would be taxed at 25% of income.
Middle class would be taxed at 66% of income.
Wealthy would be taxed at 80% of income.
Insane!
I knowthe funding situation is dire but I have not seen tax statistics as bad as the ones you are citing.
When Social Security was conceived there were 16 people paying in for every 1 person drawing out of the fund. Now the ratio is about 3 or 2 paying in for every one drawing out and as Baby Boomers get ready to retire the ratio is probably going to be almost one on one in a few years.
That is why it not being adequately funded over the years is now coming home to roost (as Reverend Jeremiah Wright might say).
Republicans have at least tried to address the issue which is considered "radioactive" in politics but were blocked at every turn. Mostly because the socialist Democrats just can't wrap their socialist heads around the idea of us being able to invest a portion of our SS witholdings into the stock market. The private sector scares Dems as most of them have never held a real job (the Dems in power that is).
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
Look at the bright side. Us GenXers have made a lot of babies. More than the baby boomers. Babies who will be paying into the system soon. Maybe that will get things turned around. If not, your best bet will be to end up disabled before you reach retirement age.
This is about as correct as the liklihood that aliens from Mars are going to land and take the place of immigrant labor and not expect any pay.
I knowthe funding situation is dire but I have not seen tax statistics as bad as the ones you are citing.
When Social Security was conceived there were 16 people paying in for every 1 person drawing out of the fund. Now the ratio is about 3 or 2 paying in for every one drawing out and as Baby Boomers get ready to retire the ratio is probably going to be almost one on one in a few years.
That is why it not being adequately funded over the years is now coming home to roost (as Reverend Jeremiah Wright might say).
Republicans have at least tried to address the issue which is considered "radioactive" in politics but were blocked at every turn. Mostly because the socialist Democrats just can't wrap their socialist heads around the idea of us being able to invest a portion of our SS witholdings into the stock market. The private sector scares Dems as most of them have never held a real job (the Dems in power that is).
I was going to post something about SS, but you said it CC1. I'll go polish your star now.
I was going to post something about SS, but you said it CC1. I'll go polish your star now.
LOL!!! Good cause I think it has been tarnished a bit lately.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
The problem with those percentages is that they would bring FAR less money into the system than the current ones do!
Virtually all liberal economists base estimated income from taxation on a static model where behavior and wealth generation is unchanged based on tax percentages. They see the same amount of "wealthy" people and those becoming wealthy, who are paying 80% in taxes as does exist with the current 39% bracket. They don't realize that there would be FAR LESS wealth generation with such high taxation.
Imagine if they decided to tax 100% of everyone! Every single dollar and cent that people made would be sent to the government. The government would enjoy a bonanza the first year! But zilch the second... and third... and forth.... The issue is the same with lower tax percentages, but just a bit more hidden.
Bingo!
But most liberals fail to see the connection --- how lower taxes keeps tax revenue high, and how increasing taxes decreases the movement of capital, decreases the creation of wealth, and decreases overall tax revenues.
__________________ http://endtimeobserver.blogspot.com
Daniel 12:3 And those who are wise shall shine like the brightness of the firmament; and those who turn many to righteousness, like the stars for ever.
If by some miracle I can work for my current company the next 16 years until retirement I will at least have some help. Almost six years ago when I was hired it was the last year my company offered both a 401k they match to a point and an old fashioned defined pension plan.
Starting five years ago new hires only get the matching 401k, no pension plan.
With only about 5 1/2 years at this company if they stopped funding my pension plan tomorrow I have already accrued enough for it to pay at retirement about 25% of what those SS letters advise me my estimated SS retirement will be.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
I knowthe funding situation is dire but I have not seen tax statistics as bad as the ones you are citing.
When Social Security was conceived there were 16 people paying in for every 1 person drawing out of the fund. Now the ratio is about 3 or 2 paying in for every one drawing out and as Baby Boomers get ready to retire the ratio is probably going to be almost one on one in a few years.
That is why it not being adequately funded over the years is now coming home to roost (as Reverend Jeremiah Wright might say).
Republicans have at least tried to address the issue which is considered "radioactive" in politics but were blocked at every turn. Mostly because the socialist Democrats just can't wrap their socialist heads around the idea of us being able to invest a portion of our SS witholdings into the stock market. The private sector scares Dems as most of them have never held a real job (the Dems in power that is).
I wonder what people would be saying about that plan had it been passed and huge numbers of people had switched over to the stock market, then lost a huge chunk of their money with what has been going on recently. An insurance agent I went to work for in 2002 had just decided to continue working, even though he had originally planned on retiring at 60, because the stock market troubles of 2000-2001 had basically wiped out his nest egg. Can you imagine that happening on a large scale with social security money? I was in favor of this stock market plan at one point, but I am not so sure any more. I don't know what the answer for the soon to be case of bankruptcy headed our way with social security, but I don't know that letting us put our money into the stock market would be the best route to go.
I wonder what people would be saying about that plan had it been passed and huge numbers of people had switched over to the stock market, then lost a huge chunk of their money with what has been going on recently. An insurance agent I went to work for in 2002 had just decided to continue working, even though he had originally planned on retiring at 60, because the stock market troubles of 2000-2001 had basically wiped out his nest egg. Can you imagine that happening on a large scale with social security money? I was in favor of this stock market plan at one point, but I am not so sure any more. I don't know what the answer for the soon to be case of bankruptcy headed our way with social security, but I don't know that letting us put our money into the stock market would be the best route to go.
Rico, the plan only allowed for a SMALL portion of your SS witholding to be invested in the stock market. That was to protect from what you just stated.
Of course much like you the Dems ignored that and gave the same red herring that you did here.
__________________ "I think some people love spiritual bondage just the way some people love physical bondage. It makes them feel secure. In the end though it is not healthy for the one who is lost over it or the one who is lives under the oppression even if by their own choice"
Titus2woman on AFF
"We did not wear uniforms. The lady workers dressed in the current fashions of the day, ...silks...satins...jewels or whatever they happened to possess. They were very smartly turned out, so that they made an impressive appearance on the streets where a large part of our work was conducted in the early years.
"It was not until long after, when former Holiness preachers had become part of us, that strict plainness of dress began to be taught.
"Although Entire Sanctification was preached at the beginning of the Movement, it was from a Wesleyan viewpoint, and had in it very little of the later Holiness Movement characteristics. Nothing was ever said about apparel, for everyone was so taken up with the Lord that mode of dress seemingly never occurred to any of us."
Quote from Ethel Goss (widow of 1st UPC Gen Supt. Howard Goss) book "The Winds of God"
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