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Republicans, Eyeing Majority, Float Changes to Social Security and Medicare

Hmmmm @Conservative I TOLD YOU SO...now what you going to do? Still vote for those who will take your money and laugh at you while you starve? Are you going back to work?
 
Hmmmm @Conservative I TOLD YOU SO...now what you going to do? Still vote for those who will take your money and laugh at you while you starve? Are you going back to work?
You keep buying the rhetoric, where is the legislation or do you just read the headlines? Stunning loyalty to rhetoric and such ignorance of legislation and reality
 
You keep buying the rhetoric, where is the legislation or do you just read the headlines? Stunning loyalty to rhetoric and such ignorance of legislation and reality
It's no longer rhetoric...take off the blindfold before you lose your income and it's too late
 
It's no longer rhetoric...take off the blindfold before you lose your income and it's too late
First of all unlike you I understood that SS was a supplement and a poor one at that but still a supplement. Second it has to be submitted as a bill and has to be approved by Congress. If that happens, I will feel sorry for you but still won't support the D party of today that has become the entitlement party that has created people who are dependent on the taxpayers to fund their personal responsibility issues. Let me know when that bill passes Congress. Further I think you read the headlines but never posted the content of the rhetoric
 
Ask him.

The SS fund will, at some point, be taking in less than is going out, as the article states.

It also points out that absent tax increases reductions in benefits will be necessitated.
It's not going bankrupt now, which is what he said. ??????????????????????
 
It's not going bankrupt now, which is what he said. ??????????????????????
Perhaps we are defining "bankrupt" differently.

At some point in the relatively near future, more $$ will be flowing than coming in to SS. Do we agree on that?
 
Perhaps we are defining "bankrupt" differently.

At some point in the relatively near future, more $$ will be flowing than coming in to SS. Do we agree on that?

There could be a reduction in benefits (76% of current payout) beyond 2033, not bankrupt. The article states as long as there are workers paying into it, there will be benefits. They should raise the taxes on the top wealthiest that really control things and reap record profits, and who are responsible for the costs we have to pay now. Sounds like a fair exchange to me.
 
Totally true.
If you look at federal revenue growth over time
and then compare it to what federal revenue growth WOULD HAVE BEEN.. if taxes had not been reduced.

And compare THAT to federal spending. then you will see.

https://www.crfb.org/papers/tax-cuts-dont-pay-themselves

Here's the problem with those sort of analyses. They fail to properly account for detrimental impacts of higher tax burdens. When you have higher taxes, you generally see less growth, which leads to less revenue.

Federal general revenues have consistently and steadily been climbing, at roughly the same rate of GDP growth. Spending however has grown much faster than the economy as a whole, that's the core problem.
 
First of all unlike you I understood that SS was a supplement and a poor one at that but still a supplement. Second it has to be submitted as a bill and has to be approved by Congress. If that happens, I will feel sorry for you but still won't support the D party of today that has become the entitlement party that has created people who are dependent on the taxpayers to fund their personal responsibility issues. Let me know when that bill passes Congress. Further I think you read the headlines but never posted the content of the rhetoric
For me? Whose the one claiming he paid in si it's his? If they get rid of it your check stops right then and so does your Medicare
 
For me? Whose the one claiming he paid in si it's his? If they get rid of it your check stops right then and so does your Medicare
are you really this financially challenged? You have no problem contributing to SS and Medicare for 35 years and getting nothing in return? Maybe that explains the loyalty to the left, no consequences for poor personal decisions.
 
Don't worry about social security unless you're rich becuase if & when they start taking away stuff it'll be means tested and the rich will lose it first.
 
Here's the problem with those sort of analyses. They fail to properly account for detrimental impacts of higher tax burdens. When you have higher taxes, you generally see less growth, which leads to less revenue.

Federal general revenues have consistently and steadily been climbing, at roughly the same rate of GDP growth. Spending however has grown much faster than the economy as a whole, that's the core problem.
Well no.. it does account for the potential detrimental impact of higher tax burdens. If say growth was going along at 4% at x tax burden.
And after taxes are lowered.. growth goes along at 4%.. well then you pretty much can;t say that x tax burden was tremendously detrimental.

Growth is not that sensitive to taxes for the most part. Especially income and corporate taxes. Excise taxes? Possibly depending on the tax.
But income taxes not so much especially if the burden is on the highest earners.

I mean if I can expand my business and make 1 million more in revenue.. BUT you tell me that instead of getting 375,000 in after tax profit. I am just going to get 350,000 in after tax profit. Its highly unlikely that I am going to decide that I would rather not make any of that extra money because " gosh if I cannot get 375, 000 then I would rather get nothing."

If you look at the federal receipts as a percentage of GDP.. you get what basically the nations effective tax rate is
https://fred.stlouisfed.org/series/FYFRGDA188S

As you can see.. In 2015.. federal receipts as a percentage of GDP was 17.85.. by 2019 it was 16.2.
Federal outlays as a percentage of GDP in 2015 were 20.2%.. and in 2019 they were 20.8.

So the reality is that yes spending increased as a percentage of gdp during that time frame.. but not much.. meanwhile the federal receipt as a percentage of gdp fell much more. thus increasing the deficit.

the fact is.. that spending is not just the issue. Its also revenue cutting. Which frankly, anyone in business understands.
 
Don't worry about social security unless you're rich becuase if & when they start taking away stuff it'll be means tested and the rich will lose it first.
And when that happens its over. The rich will not tolerate not getting social security.
 
are you really this financially challenged? You have no problem contributing to SS and Medicare for 35 years and getting nothing in return? Maybe that explains the loyalty to the left, no consequences for poor personal decisions.
What do you mean getting nothing in return.? You would not have health insurance if not for medicare. You are a terrible risk as an older person.
 
For me? Whose the one claiming he paid in si it's his? If they get rid of it your check stops right then and so does your Medicare
Yes and thankfully SS and Medicare are supplements to my retirement income and healthcare. Sorry you didn't see it that way, contributed and then expected nothing in return including interest. Imagine what you could have done with that extra income for you and your family if not forced to contribute to SS and Medicare?
 
And when that happens its over. The rich will not tolerate not getting social security.
The rich already pay more for medicare premiums. And that's not 'over'.
 
The rich already pay more for medicare premiums. And that's not 'over'.
Yep ..we do. But facts remain that Medicare is the only insurance that would cover you when you are 90 with a heart condition.
90 with a heart condition is kit a money maker for private insurance.
 
Growth is not that sensitive to taxes for the most part. Especially income and corporate taxes. Excise taxes? Possibly depending on the tax.
But income taxes not so much especially if the burden is on the highest earners.

LOL.

This statement is so absurd as to not even require a rebuttal.
 
LOL.

This statement is so absurd as to not even require a rebuttal.
In other words you have no cogent rebuttal to the facts I have pointed out.

It's pretty well established that tax cuts do not pay for themselves and simply increase the debt and deficit.

If you make 500,000 a year bave ..
And your taxes go up 10% so now you only take home 450000..
You gonna stop working bave and make nothing?
 
In other words you have no cogent rebuttal to the facts I have pointed out.

It's pretty well established that tax cuts do not pay for themselves and simply increase the debt and deficit.
There are no facts you presented and anyone who believes that keeping more of what you earn is an expense to the gov't isn't a conservative. You don't pay for tax cuts, tax cuts mean you need less gov't spending and liberals like you cannot stand that
 
In other words you have no cogent rebuttal to the facts I have pointed out.

It's pretty well established that tax cuts do not pay for themselves and simply increase the debt and deficit.

If you make 500,000 a year bave ..
And your taxes go up 10% so now you only take home 450000..
You gonna stop working bave and make nothing?

Your position is so absurd it is hard to imagine where to even begin.

Capital flight is real. When you tax and regulate capital, it leaves. Have you ever heard of the expression "money goes where it is treated best"?

If you want some real world examples look at France, Sweden, and the UK. They have extremely aggressive tax policy aimed specifically at the rich and it hurt their economies very badly. So much so that all of those nations reversed course dramatically.

Now, use your individual example. Say I was only making 500K a year and I was in California. What are the odds I would consider moving to Nevada or Arizona? Pretty high. What's the economic impact on California? We see this constantly in the US. Businesses and high net worth individuals fleeing high tax states to go elsewhere. You don't think that plays out on a national level? Ask the founder of Ikea.
 
Your position is so absurd it is hard to imagine where to even begin.

Capital flight is real. When you tax and regulate capital, it leaves. Have you ever heard of the expression "money goes where it is treated best"?

If you want some real world examples look at France, Sweden, and the UK. They have extremely aggressive tax policy aimed specifically at the rich and it hurt their economies very badly. So much so that all of those nations reversed course dramatically.

Now, use your individual example. Say I was only making 500K a year and I was in California. What are the odds I would consider moving to Nevada or Arizona? Pretty high. What's the economic impact on California? We see this constantly in the US. Businesses and high net worth individuals fleeing high tax states to go elsewhere. You don't think that plays out on a national level? Ask the founder of Ikea.
So you mean your federal income taxes are different in California than Nevada?
Come now. ..you just went from federal government which were talking about to state.
California has the largest economy in the us.
California's economy grew by 8% last year.
Arizona ? By 4%.

But but but taxes...right bave. ?

If taxes mattered so much bave? Why does California have tge largest economy and was third in economic growth..only beaten by Hawaii and Nevada?

It's not like California has not had higher taxes than many states for DECADES.
Please explain.
 
There are no facts you presented and anyone who believes that keeping more of what you earn is an expense to the gov't isn't a conservative. You don't pay for tax cuts, tax cuts mean you need less gov't spending and liberals like you cannot stand that
I see. So what would happen to the government deficit if we dropped taxes to 1% Conservative?
Would the deficit increase or decrease if spending stayed the same?

Tell me.. when Trump cut taxes.. did overall government spending go down? equal to the effect on revenue by the tax cut?"
Hint.. No it didn;t. The deficit increased.

REAL conservative understand that its about spending AND revenue.
 
I see. So what would happen to the government deficit if we dropped taxes to 1% Conservative?
Would the deficit increase or decrease if spending stayed the same?
I have answered the question but as usual you ignored the answer, learn what FIT and CIT fund before making unfounded claims. The drop in taxes increased FIT and CIT revenue but more importantly state and local revenue grew due to consumer spending
Tell me.. when Trump cut taxes.. did overall government spending go down? equal to the effect on revenue by the tax cut?"
Hint.. No it didn;t. The deficit increased.
No overall is the operative word There are two parts of the budget, mandatory spending(SS and Medicare) and discretionary spending(operating expenses of the govt} Interest rate increases boosted debt service and mandatory cost of living adjustments to entitlement spending both created the 2017-2019 deficits. Stimulus spending during the pandemic for the 26 million unemployed Americans gave us the 2020 deficit
REAL conservative understand that its about spending AND revenue.
That proves my point, you don't have a clue
 
I have answered the question but as usual you ignored the answer, learn what FIT and CIT fund before making unfounded claims. The drop in taxes increased FIT and CIT revenue but more importantly state and local revenue grew due to consumer spending
No you failed to answer. What would happen to the federal deficit if taxes were reduced to 1% and spending remained the same.
Would the deficit increase or decrease or stay the same. Its pretty easy answer. Give it a try instead of your usual diversion.
No overall is the operative word There are two parts of the budget, mandatory spending(SS and Medicare) and discretionary spending(operating expenses of the govt} Interest rate increases boosted debt service and mandatory cost of living adjustments to entitlement spending both created the 2017-2019 deficits. Stimulus spending during the pandemic for the 26 million unemployed Americans gave us the 2020 deficit
In other words the deficit increased. Because spending did not significantly decrease and revenue that would have been brought it,,,, didnt; come in.
That proves my point, you don't have a clue
Sorry.. it does not prove your point.
And real conservative understands revenue and spending matter.
Otherwise why not reduce taxes to ZERO? According to your warped view.. then the federal government would not run a deficit becuase of the resulting increase in revenue.. with a ZERO tax rate. LMAO.

"CONSERVATIVE",,, hah.
 
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