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Cash flow has fallen from $63b to $7b from 2008 to 2010. One might take heart that the number for 2010 is still in the black. But that will not last long. The seasonality of the Fund produces big cash flow losses in the second half of a calendar year. For the full year 2009 the net cash flow was $3.4B. In other words the cash flow fell by $32 billion in the July-December in 2009. It is certain that cash will evaporate in 2010 as well. My number for the net cash flow drain in the second half of 2010 is $55b. This translates to a~$50b deficit for the full year.
It's not like we didnt know, I remember reading about the upcoming SS cluster**** in the beginning of Bush's second term. We can no longer kick the can down the road with this issue or perhaps it's probably too late.
Social Security Payouts Are Already Crippling The Government This Year
easy solution
take the ceiling off. now set at $106,800
tax the income above that level and social security becomes immediately solvent
easy solution
take the ceiling off. now set at $106,800
tax the income above that level and social security becomes immediately solvent
Right, let the rich foot the bill right? :rool:
Right, let the rich foot the bill right? :rool:
if the person making minimum wage is taxed on every dollar of that meager income
why would you then exempt those who earn very high incomes from being taxed aboved $106,800?
How about I just agree to pay dollar for dollar what the person earning minimum wage is putting in?
how about you just pay the same percentage on all of your income just like the minimum wage earner
Yeah, I got a paper telling me how much SS I've paid in so far and how much I'd get monthly if I started drawing now, or in 10 years, etc, etc.
I had to LOL at the idea that I'd EVER ****ing see a dime of my money I've paid in.
how about you just pay the same percentage on all of your income just like the minimum wage earner
Why would I want to do that?
to assure social security is solvent for your kids and grandkids
Social Security already offers a negative return rate (once I factor in inflation), why on Earth would I want to give my kids and grandkids an investment that losses them money? I would much rather help them set up a retirement savings account that can at least earn a positive return for them.
Social Security already offers a negative return rate (once I factor in inflation), why on Earth would I want to give my kids and grandkids an investment that losses them money? I would much rather help them set up a retirement savings account that can at least earn a positive return for them.
then you are opposed to having social security continue
you should posted that position and i would not bother to have responded
i thought this thread was initiated based on a concern about the solvency of the social security program
It's NOT solvent, that's the point. Why waste more resources on this money pit? Cut losses and save the country.
then you are opposed to having social security continue
you should posted that position and i would not bother to have responded
i thought this thread was initiated based on a concern about the solvency of the social security program
but there is an easy, equitable way to make it solvent, by eliminating the cap
either you want a solvent social security program or you do not
pick your poison
Neither. I want it eliminated and I want my money back so I can invest it the way I want to.
sorry, the option of getting your money back does not exist
unless you live long enough to receive it in small increments
unless you live long enough to receive it in small increments
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