Not if it is to become a VESTED system with assets backing liabilities.

Current Events » in reply to The system is currently overfunded as it is

Not if it is to become a VESTED system with assets backing liabilities.

David F Mayer — 2/7/2005 4:11:01 AM (archived)

You wrote: 1. SS payouts are based in the taxes one has paid into the system. Removing the cap on SS taxes will only increase the amount that has to be paid out unless the payout plan is modified.

Absolutely CORRECT! Means testing must be used. In addition, the payout can NOT be based upon the contribution above some set level. It is a TAX. Converting SS to a vested system would take some 20 trillion dollars.

The whole thread (75 posts)

Serious Insecurities concerning Social Security 'Reform' - Davin L. - 2/4/2005 7:33:36 PM
- My plan to reform Social Security - David F Mayer - 2/6/2005 5:30:47 PM
  - Thats actually a pretty good idea, IMO - Davin :. - 2/6/2005 6:03:03 PM
    - If it "over-funds" the system, just cut the tax rate. Simple. (n/t) - David F Mayer - 2/7/2005 4:08:06 AM
      - The late Senator Moynahan proposed that several years ago - Larry J - 2/7/2005 7:08:41 PM
    - The system is currently overfunded as it is - Larry J - 2/6/2005 10:34:10 PM
      - Not if it is to become a VESTED system with assets backing liabilities. - David F Mayer - 2/7/2005 4:11:01 AM
        
        Question - where did you come up with your $20 trillion figure - Larry J - 2/7/2005 3:39:53 PM
        
        re: Question - where did you come up with your $20 trillion figure - Tom Brosz - 2/7/2005 7:08:06 PM
        
        As in the estate tax... - Larry J - 2/7/2005 8:09:19 PM
        
        re: As in the estate tax... - Tom Brosz - 2/7/2005 8:16:33 PM
        
        I agree about the homes - Larry J - 2/7/2005 8:39:49 PM
        
        But the simple solution still remains - Davin :. - 2/7/2005 8:57:33 PM
        
        I don't think it's a viable solution - Larry J - 2/7/2005 9:51:52 PM
        
        Interesting thoughts - can't help but think of global warming... (n/t) - LJ - 2/8/2005 4:39:23 AM
      - re: The system is currently overfunded as it is - Davin :. - 2/6/2005 11:31:08 PM
        
        re: The system is currently overfunded as it is - Larry J - 2/7/2005 7:03:18 PM
        
        good dates and numbers - Davin L. - 2/7/2005 10:23:27 PM
        
        A forecasts have to be taken with a grain of salt - Larry J - 2/8/2005 2:52:12 PM
        
        Analogies to personal finance are consistently misleading when talking about Gov't finance - Davin :. - 2/8/2005 3:26:57 PM
        
        Some good stuff. - Tom Brosz - 2/8/2005 5:19:09 PM
        
        Thanks - Davin :. - 2/9/2005 12:04:41 AM
        
        re: Dogma - Tom Brosz - 2/9/2005 6:55:19 AM
        
        re: Dogma - Davin :. - 2/9/2005 5:23:40 PM
        
        Dogma, or just reality? - Tom Brosz - 2/9/2005 8:34:08 PM
        
        re: The system is currently overfunded as it is - Davin L. - 2/7/2005 9:52:02 PM
        
        Interesting how politics works... - Tom Brosz - 2/7/2005 10:42:08 PM
        
        See Tom, See Tom Spin - Davin L. - 2/7/2005 11:40:25 PM
        
        re: Spin - Tom Brosz - 2/8/2005 12:50:47 AM
        
        corrected HTML - Davin L. - 2/7/2005 9:55:03 PM
    - I could live with that. - Tom Brosz - 2/6/2005 9:10:46 PM
- Not to mention the dark secret that people are only just realizing.. - Tony - 2/4/2005 9:08:14 PM
  - The only true fix for SS - ebnelson - 2/5/2005 12:39:55 PM
    - thats hogwash. - Davin :. - 2/5/2005 5:09:21 PM
      - If it is hogwash to point out that a system that confiscates 15% of US payrolls is unfair, so be it. - ebnelson - 2/6/2005 7:00:59 AM
        
        Thats not what you said. - Davin :. - 2/6/2005 5:44:20 PM
        
        Please show the evidence that SS delivers 2-3% > inflation? - ebnelson - 2/8/2005 1:46:34 PM
        
        Please read what I wrote - Davin :. - 2/8/2005 2:03:08 PM
        
        Long term T rates - ebnelson - 2/8/2005 7:48:13 PM
        
        re: Long term T rates - Davin :. - 2/8/2005 8:08:41 PM
  - More to the point - Davin L. - 2/4/2005 10:29:21 PM
  - re: No big secret. - Tom Brosz - 2/4/2005 10:24:28 PM
    - Tom hit the BS buzzer - DL - 2/4/2005 10:34:13 PM
      - So the fix is to simply confiscate more and more money? - ebnelson - 2/5/2005 12:43:16 PM
        
        Why are you incapable of reading what I wrote? - Davin L. - 2/5/2005 4:54:54 PM
        
        If you don't understand how the system works, perhpas you should learn a bit before declaring it wonderful? - ebnelson - 2/6/2005 7:03:35 AM
        
        God, Eb, its pointless talking to you - Davin :. - 2/6/2005 5:27:29 PM
      - Further, they always claim that it must get worse and worse - alcaray - 2/5/2005 3:36:50 AM
      - Bartleby the Scrivener - Melville - 2/4/2005 11:04:28 PM
      - Does anyone else see the political weirdness here? - Tom Brosz - 2/4/2005 10:58:38 PM
        
        Not my problem, Tom, that you have a propensity for strawman arguments and distorting positions you disagree with - Davin L. - 2/4/2005 11:16:53 PM
        
        More on the Amazing Vanishing Social Security Crisis - Tom Brosz - 2/5/2005 1:34:21 AM
        
        The DNC choice to take the position that after all the years of claiming there was a crisis, now there isn't one, will not hold up. (n/t) - ebnelson - 2/5/2005 12:45:01 PM
        
        again - Davin :. - 2/5/2005 6:14:45 AM
        
        re: Social Security as welfare - Tom Brosz - 2/5/2005 8:30:01 PM
        
        "Wealth redistribution" - Mary Anne - 2/6/2005 4:27:51 AM
        
        re: "Wealth redistribution" - Tom Brosz - 2/6/2005 8:53:55 PM
        
        Money isn't everything. - Mary Anne - 2/6/2005 9:41:27 PM
        
        "Society owes them?" You really want to go there? - Tom Brosz - 2/6/2005 10:14:51 PM
        
        You show a complete lack of understanding that there is more to the social contract than money and property.. - Mary Anne - 2/6/2005 11:30:13 PM
        
        The church does not have a gun. - Tom Brosz - 2/7/2005 12:02:55 AM
        
        No. Only the threat of Hell. - Mary Anne - 2/7/2005 2:10:45 AM
        
        re: No. Only the threat of Hell. - Tom Brosz - 2/7/2005 2:32:20 AM
        
        OK: so according to you... - Mary Anne - 2/7/2005 3:41:19 AM
        
        re: OK - Tom Brosz - 2/7/2005 4:14:11 AM
        
        Also - Davin :. - 2/6/2005 11:33:00 PM
        
        "The best things in life are free." - Tom Brosz - 2/7/2005 12:05:51 AM
        
        correction, misread something Tom said - Davin L. - 2/4/2005 11:25:12 PM
        
        No problem. - Tom Brosz - 2/4/2005 11:55:04 PM
- What Ed said. - Tom Brosz - 2/4/2005 8:36:34 PM
  - re: What Ed said. - Davin L. - 2/4/2005 10:55:02 PM
    - Investment stuff - Tom Brosz - 2/5/2005 12:30:11 AM
      - more later, if I can, but - Davin L. - 2/5/2005 2:38:15 AM
    - What Bush said today: "Everything is on the table except payroll tax increases." - Tom Brosz - 2/5/2005 12:04:58 AM
- Very good points - ebnelson - 2/4/2005 8:00:36 PM

Recent posts

On this day in Current Events

The whole thread (75 posts)