patrick.net

There is a plan, but it's all SOOPER-SEKRET. Shhhhh!

To be fair, it is a temporary cut.

Don't worry though, next December Republicans will be talking about how we can't go back to the 6.2% rate because it'll kill jobs and you don't want to "raise taxes" during a recession.

These motherfuckers don't have any plan, other than dismantling the united states of america.

Whoooo Change!!!

Yes we can screw it up better than THEM.

The Democrats, because they aren't Republicans...

Transparency, has never been more convoluted...

If it weren't for Republicans it would all be the fault of Chinese.

What's the Difference between Obama or the Crazy lady running the country?
They had to send the Crazy lady to China to kiss their ass, from the wiki leaks, while chief ass kisser stayed home to kiss the Republicans butt.

Yes we can... ya'll been played!

Actually SS is going cash-negative right now, there's not enough FICA coming in to cover current payments.

But this is OK because FICA payers have overpaid by $1.5T and have another $1T of accrued interest, and this $2.5T is collecting $60B or so each year in interest from the Treasury, so the fund won't actually be declining.

This 2% FICA change will be covered by additional Treasury debt issues, I guess ones printed straight from the Treasury like the interest on the SSTF is printed.

Right now the FICA surplus is scheduled to be exhausted around 2037 or so. This 2% thing doesn't change that, but what it does do is substitute $120B of bona fide wage-earner FICA contributions (ie SAVINGS) with IOUs from the Treasury. This is not a very good way to run a railroad.

Anyway, the SSTF isn't a current issue at all. If I were running things around 2020 I'd start raising the contribution about .2% each year to around 16% of wages, so that Gens X, Y, and Z will be able to decent retirements like the BBers.

Troy says

If I were running things around 2020 I’d start raising the contribution about .2% each year to around 16% of wages, so that Gens X, Y, and Z will be able to decent retirements like the BBers.

Probably 16% at a min. We don't save adequately. SS is a forced savings. That sounds elitist. But, part of it is that some don't earn enough to save adequately. If it comes off the top, businesses do have to up their pay to make a living wage. Right now, insisting people consistently save is spitting in the wind ... things are tight. Save what?

Kevin says

To be fair, it is a temporary cut.
Don’t worry though, next December Republicans will be talking about how we can’t go back to the 6.2% rate because it’ll kill jobs and you don’t want to “raise taxes” during a recession.
These motherfuckers don’t have any plan, other than dismantling the united states of america.

LMAO....love it. However, wouldnt you say the DEMS also use the same tactics to stay in power. I think our politics are so polarized that we cant get many effective bills passed so the easy wins get oversensationalized. I mean, really, who gives a damn about giving a rich man an additional 2%.

artistsoul says

Troy says

If I were running things around 2020 I’d start raising the contribution about .2% each year to around 16% of wages, so that Gens X, Y, and Z will be able to decent retirements like the BBers.

Probably 16% at a min. We don’t save adequately. SS is a forced savings. That sounds elitist. But, part of it is that some don’t earn enough to save adequately. If it comes off the top, businesses do have to up their pay to make a living wage. Right now, insisting people consistently save is spitting in the wind … things are tight. Save what?

You folks are geniuses...I am gonna go make another CIROC martini and smoke another cigar baby!!!

Clarence 13X says

artistsoul says

Troy says

What happened to your interest in increasing your debate skills? Insult is not effective in debate. Why don't you and Shrek try some consistent logic, some facts and some degree of emotional appeal to your audience. Insults might cause some to react or even overact. To the mainstream, we totally dismiss you. No kidding. Maybe you bury some nugget I might even agree with....but we'd never know b/c we scroll right past. I'm still trying to figure out the blogosphere. It's like a mini Glenn Beck, Rush and Ed Schultz try to chime in. Where, oh, where is a voice a reason??? Give me the website link of a higher caliber debate please.