Tax Rates, Spending, Recessions and the Reagan Myth

[Conservative]

You did not even know that medicaid was a 50 50 contribution btwn a State and the Feds. So who are to talk?

Nice diversion, when you "invested" into SS where did you think the money went?

 

[Donc]

QUOTE Conservative

You really don't understand SS, do you?

My understanding is that by law, SS has to be invested in government securities and not stocks or bonds. I believe the reason for that was to protect the money from those that want to invest it in the stock market.

How would you like to be drawing your SS from the last 10 years of the stock market today? For that matter the last 20 years, if you were into …gasp,gag…conservative investments, which SS and pension funds call for,kinda sucked too.

When you contributed to the SS fund where do you think the money went?

Where it should be, In government securities, collecting interest,. This is money the government didn’t have to borrow from the Chinese, unlike the tax cuts for the wealthy.
:2wave:

 

[Conservative]

My understanding is that by law, SS has to be invested in government securities and not stocks or bonds. I believe the reason for that was to protect the money from those that want to invest it in the stock market.

How would you like to be drawing your SS from the last 10 years of the stock market today? For that matter the last 20 years, if you were into …gasp,gag…conservative investments, which SS and pension funds call for,kinda sucked too.



Where it should be, In government securities, collecting interest,. This is money the government didn’t have to borrow from the Chinese, unlike the tax cuts for the wealthy.
:2wave:

So you believe the money you "invested" in SS is there for you when you retire? My investment in SS certainly wasn't there when I retired so I am probably collecting what you are putting in. Brilliant ponzi scheme, isn't it? Try to stay focused, SS is supposed to be paid for by FICA taxes that you and I paid over our careers. it has nothing to do with the Chinese or any other entity other than OUR govt. putting SS on budget and spending the money. SS was never set up to be put on budget but actually SS was never set up to be collected. That is our govt. at work.

 

[Donc]

So you believe the money you "invested" in SS is there for you when you retire? My investment in SS certainly wasn't there when I retired so I am probably collecting what you are putting in.

Is you check their every month? If so it’s working.:2wave:

 

[Conservative]

Is you check their every month? If so it’s working.:2wave:

Right, thanks for working so you can pay me. I really appreciate it. Think anyone will be there to pay yours? That is the way it was set up, wasn't it?

 

[Donc]

Right, thanks for working so you can pay me. I really appreciate it. Think anyone will be there to pay yours? That is the way it was set up, wasn't it?

Hey, U.S. Treasure bonds, backed by the full faith and credit of the United States of America.

Yeh, I kinda have faith in my country. It’s a shame that you don’t though.

 

[Conservative]

Hey, U.S. Treasure bonds, backed by the full faith and credit of the United States of America.

Yeh, I kinda have faith in my country. It’s a shame that you don’t though.

So you have faith that the money you invested in SS that has been spent on something other than what it was intended for will be there when you retire? You really don't seem to understand SS either. Maybe you ought to learn. Hopefully your grocery store will take U.S. IOU's

 

[Donc]

You really don't seem to understand SS either. Maybe you ought to learn. Hopefully your grocery store will take U.S. IOU's

Hhmm…that’s the second time that you said that, the first time was in post #374 to which I replied with this.

My understanding is that by law, SS has to be invested in government securities and not stocks or bonds. I believe the reason for that was to protect the money from those that want to invest it in the stock market.

Do you have anything that contradicts what I have posted?

You surely didn’t with your reply, in post #378,all you did then was deflect.

 

[Conservative]

Hhmm…that’s the second time that you said that, the first time was in post #374 to which I replied with this.




Do you have anything that contradicts what I have posted?

You surely didn’t with your reply, in post #378,all you did then was deflect.

No deflection, SS is on budget, why? SS funds have been used for on budget line items, why? SS has a deficit when IOU's are removed and you don't have a problem with that? Investing in govt. securities is great when the funds are there to do it. Using funds on budget doesn't make funds available for govt. securities. It is you that deflects from reality.

 

[Donc]

No deflection, SS is on budget, why? SS funds have been used for on budget line items, why? SS has a deficit when IOU's are removed and you don't have a problem with that? Investing in govt. securities is great when the funds are there to do it. Using funds on budget doesn't make funds available for govt. securities. It is you that deflects from reality.

The surplus is there.Add up the iou,s,it is in goverment securities, where it should be.Just needs a bit of tweaking...maybe,in about thirty years. Hence my post when i said said take the cap off the millionaires and trust funders.

 

[Conservative]

The surplus is there.Add up the iou,s,it is in goverment securities, where it should be.Just needs a bit of tweaking...maybe,in about thirty years. Hence my post when i said said take the cap off the millionaires and trust funders.

IOU's have to be repaid with cash, where does the cash come from and what does that do to the value of the dollar or the debt? As I thought, you don't understand SS and intergovt. holdings at all.

 

[Conservative]

The surplus is there.Add up the iou,s,it is in goverment securities, where it should be.Just needs a bit of tweaking...maybe,in about thirty years. Hence my post when i said said take the cap off the millionaires and trust funders.

It is about time you learned a little about SS. Anyone that thinks IOU's aren't a problem especially when they amount to 2.5 trillion dollars better take heed to reality.

Social Security IOUs stashed away - Washington Times

 

[Donc]

It is about time you learned a little about SS. Anyone that thinks IOU's aren't a problem especially when they amount to 2.5 trillion dollars better take heed to reality.

Social Security IOUs stashed away - Washington Times

It might be a good time for you to quit drinking the CATO, Pete Peterson Koolaid. From your link, the first two paragraphs.

<The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.>

<It's time to start cashing them in.>

Instead of regurgitating what I have already posted, I suggest you go back and reread the the words…slowly, then maybe it will sink in the dome. But I have my doubts.

Pay attention particularly to post #385 <Add up the iou,s,it is in government securities,>

Then ask yourself what would happen to the worlds economy if the United States would default on United States Securities?

 

[Conservative]

It might be a good time for you to quit drinking the CATO, Pete Peterson Koolaid. From your link, the first two paragraphs.

<The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.>

<It's time to start cashing them in.>

Instead of regurgitating what I have already posted, I suggest you go back and reread the the words…slowly, then maybe it will sink in the dome. But I have my doubts.

Pay attention particularly to post #385 <Add up the iou,s,it is in government securities,>

Then ask yourself what would happen to the worlds economy if the United States would default on United States Securities?

Sounds like selective reading skills to me, you don't seem to understand that whether or not they are govt. securities they have to be funded. now go back and read the rest of the article. here, let me help you.

Sounds like a good time to start tapping the nest egg. Too bad the federal government already spent that money over the years on other programs, preferring to borrow from Social Security rather than foreign creditors. In return, the Treasury Department issued a stack of IOUs — in the form of Treasury bonds — which are kept in a nondescript office building just down the street from Parkersburg's municipal offices.

Now the government will have to borrow even more money, much of it abroad, to start paying back the IOUs, and the timing couldn't be worse. The government is projected to post a record $1.5 trillion budget deficit this year, followed by trillion-dollar deficits for years to come.

 

[Phoenix]

Where it should be, In government securities, collecting interest,. This is money the government didn’t have to borrow from the Chinese, unlike the tax cuts for the wealthy.
:2wave:

Not really because we just entered a phase where SS is cashing in their securities. We are major deficit in the Federal general fund budget. So where does the money some from to repay the securities? China. So now not only do we have to pay back the original moeny + interest for the security + interest to the China to pay the previous two items. Genius.

 

[Phoenix]

Where it should be, In government securities, collecting interest,. This is money the government didn’t have to borrow from the Chinese, unlike the tax cuts for the wealthy.
:2wave:

Not really because we just entered a phase where SS is cashing in their securities. We are major deficit in the Federal general fund budget. So where does the money some from to repay the securities? China. So now not only do we have to pay back the original money + interest for the security + interest to the China to pay the previous two items. Genius plan.

 

[Donc]

Not really because we just entered a phase where SS is cashing in their securities. We are major deficit in the Federal general fund budget. So where does the money some from to repay the securities? China. So now not only do we have to pay back the original money + interest for the security + interest to the China to pay the previous two items. Genius plan.

See post #371...should take care of it.:2wave:

 

[Conservative]

See post #371...should take care of it.:2wave:

you really live in a dream world, why do you think someone else should fund your retirement or anyone else's because of govt. mismanagement of SS? The worker didn't screw up, he was forced to contribute to a fund that the govt mismanaged, now you want to eliminate the cap so the govt. can collect more money to mismanage? Brilliant

 

[Phoenix]

See post #371...should take care of it.:2wave:

Social Security problems would be solved by eliminating the cap all together. Let the millionaires and trust fund babies pay it all year long. End of problem…..NEXT.

or we could raise the percentage that is taken from everyone to a level that would cover the SS expenses.

I was talking about how it IS currently.

 

[Donc]

you really live in a dream world, why do you think someone else should fund your retirement or anyone else's because of govt. mismanagement of SS? The worker didn't screw up, he was forced to contribute to a fund that the govt mismanaged, now you want to eliminate the cap so the govt. can collect more money to mismanage? Brilliant

I’m glad you approve; now excuse me, I have to hit the bunk and get my proper rest…gotta keep the ole nose to the grindstone and make some money for your February SS check. :mrgreen:

 

[Zyroh]

Not really because we just entered a phase where SS is cashing in their securities. We are major deficit in the Federal general fund budget. So where does the money some from to repay the securities? China. So now not only do we have to pay back the original money + interest for the security + interest to the China to pay the previous two items. Genius plan.

slight misconception here = china owns all of our debt. china stopped increasing the amount of US debt they hold about a year ago, mostly because inflation and rising rates is gonna ruin the value of the bonds, no reason to buy them. in less than 2 years the federal reserve has purchased more of US debt than the chinese have, and by the time QE2 is over the fed will have twice as much as the chinese. just something to keep in mind when you picture us as slaves to the chinese, it's actually an international banking cartel that we're slaves to.

gold is the currency of kings,
silver is the currency of gentlemen,
barter is the currency of peasants,
debt is the currency of slaves.

 

[Albert Di Salvo]

And the US Dollar is the currency of fools.

 

[Cecil James]

And the US Dollar is the currency of fools.

Please expand upon this. The world's oil is tied to the dollar.

 

[ricksfolly]

Please expand upon this. The world's oil is tied to the dollar.

Big business don't deal with cash, only bank credit, irrevocable letters of intent, and security or stock exchanges.

ricksfolly

 

[Conservative]

Big business don't deal with cash, only bank credit, irrevocable letters of intent, and security or stock exchanges.

ricksfolly

Seems you don't have a problem with the govt. confiscating income earned by another entity and don't realize what a slippery slope that is especially since you refuse to address govt. responsibility and govt. spending.