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jmowreader

(52,539 posts)

24. Actually, Social Security was never designed to live off Social Security taxes

Reply to Tom Rinaldo (Reply #20)

Fri Dec 28, 2012, 01:26 PM

Dec 2012

Your SS scenario: The Social Security Administration takes in $1 billion. They need $750 million of it to pay benefits and put the rest into bonds.

Teabaggers' scenario: Greedy Congressmen grab all the Social Security tax revenue and spend it, and the Federal Reserve prints money to give to senior citizens.

Reality: $1 billion in Social Security taxes come in. All of it is invested. When the bonds are repaid, any of the proceeds which are not needed for benefits are reinvested.

Any money manager and 95 percent of Republicans tell you to invest. When the government does it, they think it's a bad thing.

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Highlight:

It Sure As Hell IS A Revenue Problem [View all] Tom Rinaldo Dec 2012 OP

Congress is NOT ... 1StrongBlackMan Dec 2012 #1

Without resorting to speculation about the future; the Republican House is. Tom Rinaldo Dec 2012 #2

Tom, I want to ask you the same question I just asked RKP. Just a yes or plethoro Dec 2012 #3

No, I don't. Maybe if the debt ceiling isn't raised something could happen to S.S. checks Tom Rinaldo Dec 2012 #5

Thanks...........nft plethoro Dec 2012 #13

I think you are correct because Social Security, Medicare and Veterans Benefits are exempted Samantha Dec 2012 #21

Not ... 1StrongBlackMan Dec 2012 #6

Thanks........nft plethoro Dec 2012 #14

NO Angry Dragon Dec 2012 #18

Thanks. It's your caveat that concerns me.......nft plethoro Dec 2012 #29

The republican House is not congress ... 1StrongBlackMan Dec 2012 #4

Not to be a stickler, but Pelosi already called Chained CPI "strengthening Social Security" Tom Rinaldo Dec 2012 #10

Mind if I send this to my Congressman? obxhead Dec 2012 #7

Absolutely. n/t Tom Rinaldo Dec 2012 #11

You can't deny that we have spending problems socialindependocrat Dec 2012 #8

Sure, but humans are rarely capable of absolute efficiency. Tom Rinaldo Dec 2012 #12

Of course it is n2doc Dec 2012 #9

Actually, I think we have a deficit problem... Lefty Thinker Dec 2012 #15

This is why we need COMPLETE CAMPAIGN FINANCE REFORM! We need OUR representative Dustlawyer Dec 2012 #16

Cost of Running a Great Country Left Turn Only Dec 2012 #17

This should be it's own OP. Tom Rinaldo Dec 2012 #20

Actually, Social Security was never designed to live off Social Security taxes jmowreader Dec 2012 #24

That's exactly what I said: ProfessionalLeftist Dec 2012 #19

but to believe it is a revenue problem... mostlyconfused Dec 2012 #22

So Your Argument Is DallasNE Dec 2012 #25

No, not arguing that, just trying to have a realistic conversation mostlyconfused Dec 2012 #30

But You Are The One Making That Argument Then DallasNE Dec 2012 #31

Starting Point: Those who defend permanetly giving tax cuts to the rich can't demand austerity... Tom Rinaldo Dec 2012 #27

Of Course It Is A Revenue Problem DallasNE Dec 2012 #23

Excellent. Thanks. freshwest Dec 2012 #26

of course it's a revenue problem. that's why they keep denying it. unblock Dec 2012 #28