One way to say it:
The point is that the 204n 'bankrupt' date is not hard, and even after we reach the 'boogeyman' date, inflow can cover at minimum 70% of benefit.
70 percent minimum. Another way to put that is that at the end of that time, benefits will be cut by up to 30 percent.
Try and imagine a politician rolling a phrase like "policies would result in a 30 percent cut in Social Security benefits" around on his tongue. Oh, yeah. Can't WAIT to work that into my next campaign speech...
People juggle numbers so fast that they are almost invisible to the eye, but the fact is that a system founded on over 40 workers per retiree is heading for 3, and then 2 workers.
Nobody from either party even WANTS to look at Medicare. If you think cutting the monthly SS check is going to piss people off, wait until you tell them medical care is going to have to be rationed.
On top of that, a lot of politicians are still hell-bent on nationalizing ALL health care. To these people, the cornucopia of governent is limitless, and the only problem in their eyes is that taxes just aren't high enough.
Just as an aside, I think the bad news is that ALL government programs are like Larry's supertanker. Nobody really gets excited until the politicians can no longer throw the problem into their successors' laps.
Current Events » in reply to re: The system is currently overfunded as it is
Interesting how politics works...
The whole thread (75 posts)
- Serious Insecurities concerning Social Security 'Reform'
- My plan to reform Social Security
- Thats actually a pretty good idea, IMO
- If it "over-funds" the system, just cut the tax rate. Simple. (n/t)
- The system is currently overfunded as it is
- Not if it is to become a VESTED system with assets backing liabilities.
- re: The system is currently overfunded as it is
- I could live with that.
- Thats actually a pretty good idea, IMO
- Not to mention the dark secret that people are only just realizing..
- The only true fix for SS
- More to the point
- re: No big secret.
- Tom hit the BS buzzer
- So the fix is to simply confiscate more and more money?
- Further, they always claim that it must get worse and worse
- Bartleby the Scrivener
- Does anyone else see the political weirdness here?
- Not my problem, Tom, that you have a propensity for strawman arguments and distorting positions you disagree with
- More on the Amazing Vanishing Social Security Crisis
- 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)
- again
- correction, misread something Tom said
- More on the Amazing Vanishing Social Security Crisis
- Not my problem, Tom, that you have a propensity for strawman arguments and distorting positions you disagree with
- Tom hit the BS buzzer
- What Ed said.
- Very good points
- My plan to reform Social Security