Kudlow: US Will 'Bond Out' to Cover Social Security, Medicare Gaps Read Newsmax: Kudlow: US Will 'B

[Luther]

raise taxes and pay for them. easy enough.

Yet again?

That sounds so American(satire)

 

[BlueTex]

Yet again?

That sounds so American(satire)

Although I certainly appreciate it and have for decades, I stop paying social security taxes on my income when it reaches the social security tax maximum ($137,700 in 2020). We don't need to raise taxes at all, just eliminate the maximum taxable income...

 

[Helix]

Yet again?

That sounds so American(satire)

FFS, a right wing cult leader is trying to dismantle the postal service to prevent voting even though he votes by mail himself. that sounds so "American." not.

 

[Luther]

Although I certainly appreciate it and have for decades, I stop paying social security taxes on my income when it reaches the social security tax maximum ($137,700 in 2020). We don't need to raise taxes at all, just eliminate the maximum taxable income...

just eliminate the maximum taxable income

.

Explain

 

[Luther]

FFS, a right wing cult leader is trying to dismantle the postal service to prevent voting even though he votes by mail himself. that sounds so "American." not.

to dismantle the postal service

They were doing that all by themselves

prevent voting even though he votes by mail himself

Aren't absentee ballots a whole another animal?

Speaking of voting by mail?(LOL)


Fauci Says 'No Reason' In-Person Voting Can't Be Done If Guidelines Followed | Newsmax.com

 

[BlueTex]

.

Explain

When you pay the social security tax on income, you only pay the tax on income up to $137,700 (this year). Once your income hits $137,700, you no longer pay the social security tax.

For instance, let's say your income is $300,000 a year. You only pay social security tax on the first $137,700 of that income. The last $162,300 in income has no social security tax withheld.

 

[Luther]

When you pay the social security tax on income, you only pay the tax on income up to $137,700 (this year). Once your income hits $137,700, you no longer pay the social security tax.

For instance, let's say your income is $300,000 a year. You only pay social security tax on the first $137,700 of that income. The last $162,300 in income has no social security tax withheld.

Okay, so you're really saying you want the rich to pay for SS they don't even need?

 

[Razoo]

Kudlow is full crap and has been for at least 40 years ....... Newsmax is a right wing PAC

How will the rest of the U.S. economy be affected if any other plan is enacted?

Put simply, moving to a system of private accounts would not only put retirement income at risk--it would likely put the entire economy at risk.

The current Social Security system generates powerful, economy-stimulating multiplier effects. This was part of its original intent. In the early 1930s, the vast majority of the elderly were poor. While they were working, they could not afford to both save for retirement and put food on the table, and most had no employer pension. When Social Security began, elders spent every penny of that income. In turn, each dollar they spent was spent again by the people and businesses from whom they had bought things. In much the same way, every dollar that goes out in pensions today creates about 2.5 times as much total income. If the move to private accounts reduces elders' spending levels, as almost all analysts predict, that reduction in spending will have an even larger impact on slowing economic growth.

The current Social Security system also reduces the income disparity between the rich and the poor. Private accounts would increase inequality--and increased inequality hinders economic growth. For example, a 1994 World Bank study of 25 countries demonstrated that as income inequality rises, productivity growth is reduced. Market economies can fall apart completely if the level of inequality becomes too extreme. The rapid increase in income inequality that occurred in the 1920s was one of the causes of the Great Depression.

Won't having people invest in stocks strengthen the business sector?

There is a commonly accepted myth that buying stock in the stock market provides funds directly to businesses that they can use for new investment. This is completely incorrect. Only when someone buys stock that is part of an initial public offering (IPO) does the money go directly to the firm. If you were to buy a share of General Motors stock tomorrow, the money you pay would go to the stockowners and not to General Motors. If a large number of people were to suddenly enter the stock market, it would drive up the selling price of stock and create a windfall for those who currently own stock, but it would not provide a penny to the firms whose stock is traded. Economists Dean Baker and Bob Pollin did a study a decade ago during the IPO boom that illustrates this distinction. They found that for every $113 in stocks traded, only $1 actually went to businesses to finance real investment.

Your question does point to a change that could greatly strengthen Social Security in the future. Many economists, both conservative and liberal, support the idea of a tax on speculation in the stock market. This is often called a "Tobin tax" after one of its proponents. The tax rate would not have to be very high to have a big impact. Using data from 1992, a tax rate of just 0.5% on stocks that are held for less than five years would generate revenues of more than $15 billion per year. If this revenue were allocated to the Social Security trust fund, the shortfall projected by the trustees would be completely eliminated.

 

[bongsaway]

Where did you get the idea that Trump is a conservative?

Sent from my SM-G965U using Tapatalk

From all the so called conservatives who voted for him. I wonder where the base of the gop got the idea trump is a conservative?

 

[Razoo]

Okay, so you're really saying you want the rich to pay for SS they don't even need?

Never known a rich person to decline $1000 or more a month ............. nor do they turn away medicare insurance!!!

What we want is everyone to pay the same rich or not....... wtf!!!!

 

[Helix]

They were doing that all by themselves




Aren't absentee ballots a whole another animal?

Speaking of voting by mail?(LOL)


Fauci Says 'No Reason' In-Person Voting Can't Be Done If Guidelines Followed | Newsmax.com

both King Tangface and Renfield vote by mail.

 

[Luther]

Although I certainly appreciate it and have for decades, I stop paying social security taxes on my income when it reaches the social security tax maximum ($137,700 in 2020). We don't need to raise taxes at all, just eliminate the maximum taxable income...

Hey, there's hypocrisy in that

We don't need to raise taxes at all

just eliminate the maximum taxable income..

 

[Luther]

both King Tangface and Renfield vote by mail.

Absentee ballots

What kind of voting do the dims want?

 

[Helix]

Absentee ballots

What kind of voting do the dims want?

i don't speak for the Democratic party. if i did, they'd have a better message.

 

[Luther]

From all the so called conservatives who voted for him. I wonder where the base of the gop got the idea trump is a conservative?

I wonder where the base of the gop got the idea trump is a conservative?

So with that said, you can use him in your progressive ways?

 

[Luther]

i don't speak for the Democratic party. if i did, they'd have a better message.

That was an excellent water down job Helix

 

[Luther]

Never known a rich person to decline $1000 or more a month ............. nor do they turn away medicare insurance!!!

What we want is everyone to pay the same rich or not....... wtf!!!!

Never known a rich person to decline $1000 or more a month

Perhaps its because they were forced to pay into it?(sigh)

nor do they turn away medicare insurance!!!

see above

What we want is everyone to pay the same rich or not.....

What you want is for the rich to pay for everyone else?

 

[Helix]

That was an excellent water down job Helix

thank you. however, if you recruit for fox, i'll have to turn down the job. i won't give them another Chris Wallace for them to say "but hey, look over there!"

on second thought, maybe i'll accept. i'll only record my show live, though. and oh, what a second show we'll have.

 

[trouble13]

From all the so called conservatives who voted for him. I wonder where the base of the gop got the idea trump is a conservative?

I dont think anyone who voted for him thought they were voting for a conservstive.

Sent from my SM-G965U using Tapatalk

 

[BlueTex]

Absentee ballots

What kind of voting do the dims want?

Simple, no excuse absentee voting nationwide...

 

[bongsaway]

So with that said, you can use him in your progressive ways?

Use trump? Unlike so many on the right, I recognize trump for the con man he is and have no use for him. I hope he goes to jail.

 

[Luckyone]

Look at the fiscal conservatives at work?







Kudlow: US Will 'Bond Out' to Cover Social Security, Medicare Gaps Under Trump's Tax Order | Newsmax.com

 

[VySky]

2008 all over again

 

[VySky]

Obama robbed 700 billion from SS and medicare for his Obamacare

 

[Variant]

Reality frequently gets in the way of ideology. Do you favor pragmatic problem solving or iron-clad obeisance to ideology?

No one is talking about iron clad ideology here. Neither Trump nor the republican party have done anything resembling fiscal conservatism for the life of his presidency.