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2010-12-18 Economy

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Posted by Fred 2010-12-18 00:00|| || Front Page|| [11131 views ] Top

#1 1. Doesn't reduce fund income by a third, but by less than a sixth - only applies to the individuals' contributions, as I understand it.
2. May not affect solvency of the system, unless the payouts the next two years exceed the remaining 5/6+ of the taxes collected - any excess just gets spent elsewhere and an 'IOU' written against the same payer as would be on the hook without the IOU - us.

Posted by Glenmore 2010-12-18 08:24|| 2010-12-18 08:24|| Front Page Top

#2 So ~~Bush~~Obama is going to cut Social Security benefits. Same old song fro the same old people.

Posted by Deacon Blues 2010-12-18 08:34|| 2010-12-18 08:34|| Front Page Top

#3 The income and corporate taxes were in the 'deal' not FICA withholding. By linking Social Security to these regular taxed the redistributionists are acknowledging the fact that since the 1960s and the Donk creative bookkeeping acts enacted back then have simply treated the Social Security fund as just another pocket to rob, another tax to spend without restraints or obligations.

Posted by P2kontheroad 2010-12-18 08:42|| 2010-12-18 08:42|| Front Page Top

#4 ...the fact that since the 1960s and the Donk creative bookkeeping acts enacted back then have simply treated the Social Security fund as just another pocket to rob, another tax to spend without restraints or obligations.
Posted by: P2kontheroad 2010-12-18 08:42

This is somethinng I have been saying since the 70's.

Posted by WolfDog 2010-12-18 09:34|| 2010-12-18 09:34|| Front Page Top

#5 They still had a great opportunity to downgrade and stabilize SS, if they had not renewed the Bush tax cuts, but instead given tax deductions to SS beneficiaries with other sources of income, in exchange for them not taking money out of the SS system. Their choice.

It would have relieved a lot of pressure on the SS system, with a break even for the government about tax cuts.

Posted by Anonymoose 2010-12-18 09:41|| 2010-12-18 09:41|| Front Page Top

#6 Economists, however, believe

Are these the same unnamed "economists" who produce frequent headlines with the word "Unexpected" in them? Like "Unexpected increase in unemployment", and "Unexpected drop in growth"?

This is simply very poorly disguised propagandizing. Name names, cite sources, don't just spew opinion and try to present it as fact. Either back up your facts or clearly mark it as YOUR opinion. "Economists say" = BS.

Posted by OldSpook 2010-12-18 11:09|| 2010-12-18 11:09|| Front Page Top

#7 May as well be using the famous "Some Say" BS prefix.

Posted by OldSpook 2010-12-18 11:30|| 2010-12-18 11:30|| Front Page Top

#8 Party of Lies
http://www.youtube.com/watch?v=dSFR76CPjrE&feature=player_embedded

Posted by Play4Keeps 2010-12-18 14:35|| 2010-12-18 14:35|| Front Page Top

#9 US President Barack B.O. Obama's controversial tax cut deal with the Republicans "is an attack on Social Security," an online columnist says.

It would be far more accurate to say that Democrats' stark refusal to shrink government that is the real attack on social security.

Posted by gorb 2010-12-18 23:06|| 2010-12-18 23:06|| Front Page Top

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