House May Pass Social Security Tax Hike

https://www.economicpolicyjournal.com/2019/08/house-may-pass-social-security-tax-hike.html | August 12, 2019 | Robert Wenzel

[PPSman]

With Democrats in control of the House of Representatives, Congressman John Larson's, (D-CT) Social Security 2100 Act may pass the House.

There are a lot of whizbang increases in benefits for social security beneficiaries in the bill but don't believe for a minute that is the center of the bill.

The bill has been created to "fix" the growing deficit caused by outflows from the social security trust fund versus inflows.

[conservative_cyclist]

How about they quit GIVING my SSB to people whom have not paid a dime into our system and are in our country illegally robbing us of our future.

[ronnie raygun]

Scumbags abused the system like everything else

[gasport]

SS is a scam and a violation of A X.

[dp0622]

Dont worry. There’s a plan to balance the budget phased in slowly over the next 50 years :)

[Dr. Sivana]

Let’m pass it, stop it in the Senate, and make the Dems own the vote for the bill in 2020.

[CMailBag]

This will go equally as far as their stupid gun control laws.
They just as well wipe their butts with this stuff.

[Governor Dinwiddie]

What peeves me are the legions of grifters collecting "disability". For every person collecting honestly, there are a 3 or 4 frauds collecting because of their "lifestyle" choices. I'm sorry, but just because you weigh 400 pounds and are working on a case of smoking induced COPD doesn't make you disabled. It makes you a lazy, grifting sloth.
 

[wardamneagle]

Lockbox.....

[rktman]

But, payloads of cash for Iran and a bottomless bucket to pay for non citizens health and welfare. And "they" wonder why some of us are a little torqued. 😠

[Paladin2]

Seriesly, how can they tax you on what they already give you?

Where is Beatnik Bernie when you need him?

[knarf]

The democrats will officially die as a party if they pass this.

I'm quite sure they know this and will try to pass it anyway.

[SecondAmendment]

SS is a ponzi scheme made legal by fiat ...

[adorno]

House May Pass Social Security Tax Hike

That is not going to look good for those democrats running to retain their seats.

In fact, that headline should be the biggest ad/commercial that republicans run against democrats. Democrats talk about defending benefits for social security dependents, and that headline would bury that lie, once and for all.

[MichaelCorleone]

If the return on Treasuries would normalize at least a few percentage points billions would immediately accrue to SS.

As you know, Social Security monies are not kept in a ‘lockbox’ but loaned to the US Gove for general revenues.

Actually abnormally low rates for so long causes sever dislocations in the real economy, cheats savers, pension funds, insurance companies (life/annuity polities), and Social Security out of tens of billions per year.

Up those rates and no need to raise the FICA tax.

Finally, years of ultra low interest rates cause asset bubbles (that eventually burst), and same time reduce needed cash flow for those who traditionally depend on low or risk-free returns.

[South Dakota]

I had a huge argument with a lib over socialist security.

She told me, eith great glee, that the repubs and reagan stoled the trust fund.

My question to her was how did they get tip O Neal to go along with that.

[plain talk]

I agree. Politicians like artificially low interest rates because it reduces the interest on debt payments associated with our obscene annual deficits.

[wastedyears]

Communists never saw a tax increase they didn’t like.

[Cobra64]

Yup, and illegals are eligible... for some odd reason. Tagline says it all.

[Rembrandt]

The $ SS takes in and the $ paid out are two totally different things. The money paid into SS goes directly to the General Fund which all govt users draw from.

The money paid out is a separate animal, an agreed upon schedule of payments and is no longer connected to the $ paid in.