reefraff
Active Member
Originally Posted by Rylan1
Well his plans are to increase medicare through his health plan and I believe he has a plan for social security... We need to get out of Iraq. Do you know how much we spent on the new embassy in Badghad? And the overall cost of this war?
So do you want to privatize Social Security like Rebubs want to do? I think that is a bad idea, especially given the state of the markets right now and the devalue of the dollar.
One other question... What happenend to our gold? Is it true that our dollar is no longer backed by gold in "Fort Knox"?
It doesn't matter who wrote the plan. Do you think Bush writes his speeches... let alone any policies his admin comes up with?
That's my point about McCain. He uses people who are experts in the field, just like every other candidate including Romney who has probably forgotten more about economics than the rest combined know.
The only part of Obama's plan that deals with social security is to eliminate income taxes on anyone collecting social security earning less than 50 grand a year. That removes even more revenues from a failing system. Can't be done. Paroll taxes are going to have to move up a tad a benefits are going to go down a tad to keep the system solvent.
20 years ago private accounts would have been a great solution. Too late now. I could see allowing people to do a partial opt out into approved mutual funds for any worker younger than say 45. Long term returns from the market are way better than SSI.
People don't realize a couple things about Social Security.
#1 was never meant to be the sole source of retirement income and
#2 it is more than just a retirement account. If you have minor children it's a life insurance policy. It's a disability policy as well.
My idea (like anyone is gonna listen to me) Would be to create a system where people could create an IRA type account. For every dollar they place in the account the government will match it dollar for dollar up to 20% of the Social Security taxes they aid for the year and of course their benefits would be cut. Not only does it encourage personal savings it will increase rate of return on Social Security.
I would also change the law so that any person who has reached the age to collect full Social Security benefits has the option to delay collecting benefits and continue working but expempt them from income tax and the employee portion of the payroll tax. You could maybe put time and income levels on that but it seems to mee it would do a lot to prop up the System and give people a chance to save up some extra money before retiring. You fugure just the payroll tax is 7.5% with no deduction. Someone earning decent pay could put away quite a bit in a few years.
But like I said, whos gonna listen to me
Well his plans are to increase medicare through his health plan and I believe he has a plan for social security... We need to get out of Iraq. Do you know how much we spent on the new embassy in Badghad? And the overall cost of this war?
So do you want to privatize Social Security like Rebubs want to do? I think that is a bad idea, especially given the state of the markets right now and the devalue of the dollar.
One other question... What happenend to our gold? Is it true that our dollar is no longer backed by gold in "Fort Knox"?
It doesn't matter who wrote the plan. Do you think Bush writes his speeches... let alone any policies his admin comes up with?
That's my point about McCain. He uses people who are experts in the field, just like every other candidate including Romney who has probably forgotten more about economics than the rest combined know.
The only part of Obama's plan that deals with social security is to eliminate income taxes on anyone collecting social security earning less than 50 grand a year. That removes even more revenues from a failing system. Can't be done. Paroll taxes are going to have to move up a tad a benefits are going to go down a tad to keep the system solvent.
20 years ago private accounts would have been a great solution. Too late now. I could see allowing people to do a partial opt out into approved mutual funds for any worker younger than say 45. Long term returns from the market are way better than SSI.
People don't realize a couple things about Social Security.
#1 was never meant to be the sole source of retirement income and
#2 it is more than just a retirement account. If you have minor children it's a life insurance policy. It's a disability policy as well.
My idea (like anyone is gonna listen to me) Would be to create a system where people could create an IRA type account. For every dollar they place in the account the government will match it dollar for dollar up to 20% of the Social Security taxes they aid for the year and of course their benefits would be cut. Not only does it encourage personal savings it will increase rate of return on Social Security.
I would also change the law so that any person who has reached the age to collect full Social Security benefits has the option to delay collecting benefits and continue working but expempt them from income tax and the employee portion of the payroll tax. You could maybe put time and income levels on that but it seems to mee it would do a lot to prop up the System and give people a chance to save up some extra money before retiring. You fugure just the payroll tax is 7.5% with no deduction. Someone earning decent pay could put away quite a bit in a few years.
But like I said, whos gonna listen to me
