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Social security fix
2001400ex
Member Posts: 29,457
in Tug Tavern
Trigger warning. And yes huffpo is my source.
Democratic Reps. John Larson (Conn.), Conor Lamb (Pa.) and Jahana Hayes (Conn.) are introducing the Social Security 2100 Act on Wednesday, legislation that would expand Social Security benefits across the board and prolong the program’s solvency for the next 75 years and beyond. The legislation finances a more generous benefit and cost-of-living adjustment formula, a reduction in income taxes on benefits and the closure of Social Security’s long-term funding gap by lifting the cap on income subject to payroll taxes and raising those tax rates.
https://m.huffpost.com/us/entry/us_5c50f4fee4b0f43e410c06e9
Democratic Reps. John Larson (Conn.), Conor Lamb (Pa.) and Jahana Hayes (Conn.) are introducing the Social Security 2100 Act on Wednesday, legislation that would expand Social Security benefits across the board and prolong the program’s solvency for the next 75 years and beyond. The legislation finances a more generous benefit and cost-of-living adjustment formula, a reduction in income taxes on benefits and the closure of Social Security’s long-term funding gap by lifting the cap on income subject to payroll taxes and raising those tax rates.
https://m.huffpost.com/us/entry/us_5c50f4fee4b0f43e410c06e9
Comments
Simpletons will love it.
That way I actually have a tangible asset that I can borrow against. Make it more like a 401K and allow people to borrow against it for a first time home purchase. But then that wouldn't allow the Rats to scare monger and keep people dependent on them.
Not possible.
The SS as Investment meme was GOP political rhetoric largely in hurried response to Mr Global Warming oil trust fund kid and his Lawkbawx debate bullshit stupid simpletons fell for.
Actually, SS isn't really broken. Those who can latch their mitts onto the money is what is broken.
Set up an iron-clad wall against the Federal government 'borrowing' against Social Security trust funds. Just stop it. Might have to phase that shit in over 10 year or so but whatever....stop the flow of funds out to pay for shit like
wallsname whatever the fuck wasteful fed spending you'd like. Ween the Fed Gubmint off that shit. LIke living on someone else's credit card.Then, set up SS like pretty much every municipal and state pension plan out there. Make sound investments as much as possible into solid-return municipal bond projects like new roads, new bridges, new affordable internet. Lock in a guaranteed return on like, 80% of the trust funds. Cities and states aren't likely to default in record numbers on public works projects. Use the remaining 20% to invest in blue chip solid stocks. Exert influence on corporate behavior as needed. The SS trust administrator would be the baddest motherfucker out there in cleaning up shit like Wells Fargo's shady ass practices.
Stay away from college athletic departments/universities. They need to clean up their own shit.
Solves the issue of how to fund long-ignored public works projects, get the fucking Feds to live within their means and everybody gets a nice little chunk at the end when they are wearing bibs and slobbering in their 80's.
Easy.
Your solution is a non starter. Baked into the Cake from inception.
Invest the money back into things that are capital assets, not operating expenses.
Really simple financial concept. Spur construction and technology employment. Evereybody wins.
Except the money wasters in the Fed gubmint who want to support their own bureaucracies.
guuluk
You really sure you wanna do that??
I bought my home here in the Bay Area doing exactly this. Next time just shut your ignorant mouth you don't know what the fuck you're talking about.