right. and then because that won't get you enough (literally, it won't get you enough), what do you do after that?
there is only one way that we could fully fund Social Security. We would have to virtually get rid of Medicare. that's the only pile of costs big enough to cover that gap.have a good time choosing, boomers! I suspect you will F*$& this up the same way you have F*$&'d up everything else you have touched .
The surplus would not have to be paid back in one go now would it.
Outside of progam cuts and tax increases you can have the government replace debt owed to SS with public debt
no, just in increasing amounts going forward. depending on our growth rate from here on out, somewhere between 2020 and 2025 we will have to decide whether we wish to fully fund Social Security, Medicare, and Medicaid, or whether we wish instead to have a Federal Government - because we will only have the funds for one of them. and if (lord help us) we ever try to actually implement Obamacare, we probably have less time than that.
you aren't going to get more than 19% of GDP in revenue on any kind of a consistent basis. and (see above), that 19% of GDP will only pay for the entitlements. this means that the "programs to be cut" will include the entire DOD, the Department of energy, the Department of the Interior, Homeland Security, the Border patrol, the FBI, Department of Justice, Food Stamps, Welfare..... you get the idea.
You certainly could get more money then 19% of GDP for the federal government. Plenty of other countries do it, I am sure if the US put its mind to it, it could as well
Increase taxes and cut spending on general programs
According to economist, Robert Reich, raising the FICA cap to from the current $106,000 to $180,000 makes SS solvent for the foreseeable future.
I say kick the cap up to $300K for all the boomers entering their golden years.Kinda a belt and suspender thing.:2wave:
I think we should jack the payroll deduction up on those registered Democrats. Guys like you.I say kick the cap up to $300K for all the boomers entering their golden years.Kinda a belt and suspender thing.:2wave:
I think we should jack the payroll deduction up on those registered Democrats. Guys like you.
And don't forget to boost their benefits commensurately.
Democrats wouldn't want to stigmatize Social Security as a welfare program
and thus make it lose the little remaining legitimacy it has.
I think we should jack the payroll deduction up on those registered Democrats. Guys like you.
good idea. while we're at it, let's impose a 2-cent taxes on left-handed baseball gloves. It will work just about as well.
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