Tenhigh Posted February 9, 2023 Share Posted February 9, 2023 27 minutes ago, SoCal Deek said: All of which Senator Biden understood before he evolved into full pander mode. It's gross, both sides do it. Link to comment Share on other sites More sharing options...
JDHillFan Posted February 9, 2023 Share Posted February 9, 2023 2 hours ago, SoCal Deek said: All of which Senator Biden understood before he evolved into full pander mode. "President Biden, while still a senator for Delaware, introduced legislation to sunset all federal programs, including Social Security and Medicare.... Biden doubled down on his legislation in the '90s, saying on the Senate floor that his bill would affect Social Security.... 'When I argued that we should freeze federal spending, I meant Social Security, as well,' Biden said. 'I meant Medicare and Medicaid. I meant veterans’ benefits. I meant every single solitary thing in the federal government.... And I not only tried it once, I tried it twice, I tried it a third time, and I tried it a fourth time." https://news.yahoo.com/flashback-biden-introduced-bill-sunset-181857869.html It was different back then. Rick Scott is the next Paul Ryan pushing granny off a cliff. 2 Link to comment Share on other sites More sharing options...
SoCal Deek Posted February 9, 2023 Share Posted February 9, 2023 17 minutes ago, JDHillFan said: "President Biden, while still a senator for Delaware, introduced legislation to sunset all federal programs, including Social Security and Medicare.... Biden doubled down on his legislation in the '90s, saying on the Senate floor that his bill would affect Social Security.... 'When I argued that we should freeze federal spending, I meant Social Security, as well,' Biden said. 'I meant Medicare and Medicaid. I meant veterans’ benefits. I meant every single solitary thing in the federal government.... And I not only tried it once, I tried it twice, I tried it a third time, and I tried it a fourth time." https://news.yahoo.com/flashback-biden-introduced-bill-sunset-181857869.html It was different back then. Rick Scott is the next Paul Ryan pushing granny off a cliff. I have almost zero recollection of anything Joe Biden did while a Senator but I distinctly remember being VERY impressed by him in a long ago forgotten Democratic Primary debate when he proposed gradually raising the retirement age to get in front of the looming Baby Boomer Retirement Tidal Wave. (One of his many runs for the White House.) Alas… His idea fell flat back then and I’m guessing he figured there’s no personal political reward for being honest with the voters, so now we get the new and enriched “What’s in it for me” version of Joe Biden. 1 Link to comment Share on other sites More sharing options...
BillStime Posted February 9, 2023 Author Share Posted February 9, 2023 8 hours ago, SoCal Deek said: Social Security is not socialism. As constructed, it’s actually a Ponzi scheme. Link to comment Share on other sites More sharing options...
sherpa Posted February 10, 2023 Share Posted February 10, 2023 1 hour ago, BillStime said: And it is, by any objective measure. What is your point? 1 1 Link to comment Share on other sites More sharing options...
sherpa Posted February 10, 2023 Share Posted February 10, 2023 2 hours ago, SoCal Deek said: I have almost zero recollection of anything Joe Biden did while a Senator.... He was the head of the Senate Foreign Relations Committee and used that position to advocate and jawbone others to support the second Iraq war. I don't blame him for that, but it is what it is. Link to comment Share on other sites More sharing options...
B-Man Posted February 10, 2023 Share Posted February 10, 2023 Of course I wouldn't repeat the same lie when proven wrong, who am I , BillStime ?? . . 1 Link to comment Share on other sites More sharing options...
ALF Posted February 10, 2023 Share Posted February 10, 2023 What is the Social Security tax cap for 2023? $160,200 We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2023, this base is $160,200. The OASDI tax rate for wages paid in 2023 is set by statute at 6.2 percent for employees and employers, each. Earners making minimum wage pay SS tax those over $160,200 pay zero SS tax , sounds fair right ? Those on SS disability many from a young age draw from SS. It's no wonder it is underfunded. 1 1 Link to comment Share on other sites More sharing options...
Tenhigh Posted February 10, 2023 Share Posted February 10, 2023 (edited) 2 hours ago, ALF said: What is the Social Security tax cap for 2023? $160,200 We call this annual limit the contribution and benefit base. This amount is also commonly referred to as the taxable maximum. For earnings in 2023, this base is $160,200. The OASDI tax rate for wages paid in 2023 is set by statute at 6.2 percent for employees and employers, each. Earners making minimum wage pay SS tax those over $160,200 pay zero SS tax , sounds fair right ? Those on SS disability many from a young age draw from SS. It's no wonder it is underfunded. Earners making over 160k pay 6.2% ss tax on their 160k, not zero. Because when they eventually draw they have a cap on their benefits. Is your argument that they should be paying more in? Edited February 10, 2023 by Tenhigh 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted February 10, 2023 Share Posted February 10, 2023 56 minutes ago, Tenhigh said: Earners making over 160k pay 6.2% ss tax on their 160k, not zero. Because when they eventually draw they have a cap on their benefits. Is your argument that they should be paying more in? I believe what Alf was trying to say is that after you earn $160k they no longer take SS tax off of your paycheck. He is correct. That figure has been going up over the years. 1 Link to comment Share on other sites More sharing options...
Tenhigh Posted February 10, 2023 Share Posted February 10, 2023 6 minutes ago, SoCal Deek said: I believe what Alf was trying to say is that after you earn $160k they no longer take SS tax off of your paycheck. He is correct. That figure has been going up over the years. That's not how it read. 1 Link to comment Share on other sites More sharing options...
JDHillFan Posted February 10, 2023 Share Posted February 10, 2023 (edited) 10 minutes ago, Tenhigh said: That's not how it read. Alf has it right. Last year’s limit was 147,000 at which point you no longer paid the 6.2% SS tax (12.4% for self employed). Up to 160,00 this year. Edited February 10, 2023 by JDHillFan 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted February 10, 2023 Share Posted February 10, 2023 6 minutes ago, JDHillFan said: Alf has it right. Last year’s limit was 147,000 at which point you no longer paid the 6.2% SS tax (12.4% for self employed). Up to 160,00 this year. All of which shows the basic flaw in the concept of SS. As envisioned, you are thought to be putting money away for yourself. So the idea is that you should have put enough away once you’ve made $160k. Unfortunately the program is now so confused that most think you’re putting money away for other people. Link to comment Share on other sites More sharing options...
Tenhigh Posted February 10, 2023 Share Posted February 10, 2023 "Earners making minimum wage pay SS tax those over $160,200 pay zero SS tax , sounds fair right ? " To me that is implying that earners who make over 162k pay ZERO into ss, as opposed to 6.2% on tax up to 160k. But maybe I read it wrong. Regardless, it needs a real fix. Link to comment Share on other sites More sharing options...
JDHillFan Posted February 10, 2023 Share Posted February 10, 2023 8 minutes ago, Tenhigh said: "Earners making minimum wage pay SS tax those over $160,200 pay zero SS tax , sounds fair right ? " To me that is implying that earners who make over 162k pay ZERO into ss, as opposed to 6.2% on tax up to 160k. But maybe I read it wrong. Regardless, it needs a real fix. https://www.investopedia.com/ask/answers/081514/why-there-cap-federal-insurance-contribution-fica-tax.asp This explains it all pretty clearly if you want to know more. It definitely needs fixing and it seems like there are options. Of course fixing it would remove it as a scare tactic for our best and brightest in Washington. Link to comment Share on other sites More sharing options...
Tenhigh Posted February 10, 2023 Share Posted February 10, 2023 2 minutes ago, JDHillFan said: https://www.investopedia.com/ask/answers/081514/why-there-cap-federal-insurance-contribution-fica-tax.asp This explains it all pretty clearly if you want to know more. It definitely needs fixing and it seems like there are options. Of course fixing it would remove it as a scare tactic for our best and brightest in Washington. I understand both the cap and problems with the entitlement, apparently my issue today is communicating my point. Link to comment Share on other sites More sharing options...
SoCal Deek Posted February 10, 2023 Share Posted February 10, 2023 (edited) 13 minutes ago, Tenhigh said: I understand both the cap and problems with the entitlement, apparently my issue today is communicating my point. You’re fine. You simply misread Alf’s comment. It happens. The real problem with SS is the way it was originally constructed. You are not withdrawing your own money, as many people foolishly believe. You’re actually withdrawing other people’s money. This becomes a HUGE problem when the generation that’s withdrawing is much larger than the generation that’s depositing. Edited February 10, 2023 by SoCal Deek 1 Link to comment Share on other sites More sharing options...
JDHillFan Posted February 10, 2023 Share Posted February 10, 2023 https://www.cnn.com/2023/02/10/politics/biden-social-security-medicare-trust-funds/index.html Other than repeating his common refrain of making the wealthy and big corporations pay more, he has yet to outline a vision for securing the entitlement programs. Go figure. 1 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted February 10, 2023 Share Posted February 10, 2023 16 minutes ago, JDHillFan said: https://www.cnn.com/2023/02/10/politics/biden-social-security-medicare-trust-funds/index.html Other than repeating his common refrain of making the wealthy and big corporations pay more, he has yet to outline a vision for securing the entitlement programs. Go figure. This is because once some poorly constructed entitlement program is bleeding cash, the Left scrambles to find another source of cash instead of reforming the program to live within its means. Link to comment Share on other sites More sharing options...
BillStime Posted February 10, 2023 Author Share Posted February 10, 2023 They really do count on their viewers being brain dead Link to comment Share on other sites More sharing options...
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