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Why Social Security is not adding to the deficit

1 by TrueTexan
A very good article on why Social Security is NOT adding to the deficit and the Reptilian lies about it.
The GOP has been intent on destroying Social Security since 1934 when its creation was first proposed by the Roosevelt administration. This, however, remained always a rather remote possibility … until now. With Trump and Congress transferring even more wealth to the rich and large corporations in the form of tax cuts that will land the country $10 trillion deeper in debt, the party of pseudo-fiscal hawks is campaigning hard for legislation that will lead to sharp cuts in Social Security and other entitlements.

In this context, the 2018 midterm elections could be the most consequential midterm election in years, according to Teresa Ghilarducci, an internationally known economist on labor and retirement. In this exclusive interview, Ghilarducci — a professor at The New School for Social Research, as well as the author of numerous books including Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans and When I’m Sixty-Four: The Plot Against Pensions and the Plan to Save Them — shares her analysis of the GOP attack on Social Security.
https://truthout.org/articles/the-gop-t ... -security/

Before congress and the Orange Stain cuts any social benefits like Social Security or health benefits like Medicare they should cut all retirement benefits to Elected Federal Employees both past and present except for self funded retirement like 401K without matching funds and Social Security. Let them live like many of their constituents back home. They shouldn't really miss their retirement since the majority of the congress critters are millionaires.
Facts do not cease to exist because they are ignored.-Huxley
"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." ~ Louis Brandeis,

Re: Why Social Security is not adding to the deficit

2 by YankeeTarheel
Going at least back to Enron, and much of how the vulture capitalists work, money that goes for people's retirement is money "lost and stolen" from the super-rich's pockets.
Remember: Enron LITERALLY stole the $1.5 billion in their retirement fund and put it in their own pockets! Thomas Lee Partners took over Simmons Beautyrest and loaded the company with debt, which is used to pay itself exorbitant "Management Fees", then forced employees to use their retirement fund to buy a company SO loaded with debt it couldn't survive--and unlike Enron, that gross robbery was totally legal!

Remember when the Republicans back after Bush was re-elected tried to "privatize" Social Security by giving the money to stock brokers to "invest" in the market and flat-out lied and cooked numbers to show it would work? Paul Ryan was at the very center of that attempted big grab. But, lest we forget, George W. Bush never saw a bolus of money held by a government or pseudo-government agency that he didn't seek to transfer to private hands. As Governor, he changed how UofT's endowment reported...and it shrank from over a billion to about $400 million! He did it again with Medicare (Part D actually worked but took years). Finally, tried it with SocSec but the uproar and GOP cold feet (they knew they had be lied to on Med Part D by Bush) killed it.

ANY money that goes to poor people as transfers, or to retirees that they contributed to, is seen as "properly" belonging in corporations and billionaires' pockets. It's the story of the shit-stain's life, his father's life and his pimping grandfather's life--ripping people off makes you "smart", not the crook you are.
"Even if the bee could explain to the fly why pollen is better than shit, the fly could never understand."

Re: Why Social Security is not adding to the deficit

3 by highdesert
The blame for the increase in the projected deficit falls on the tax cuts of 2017 that were a result of the Republican control of the federal government — almost all Republicans voted for the tax cuts and almost all Democrats did not. The cuts added $1 trillion to the federal deficit and the nonpartisan Joint Committee on Taxation did not support Republican arguments that the $1.5 trillion tax cut would pay for itself with economic growth. Senator McConnell’s announcement today makes clear political elites will use Social Security, Medicare and Medicaid as bargaining chips in budget negotiations and call for cuts in government spending.
Rob the Treasury and blame Social Security, Medicare and Medicaid for the deficit, that's chutzpah.
Our country made a commitment during the Depression to make sure that everyone and their families would be protected as they aged and if they became disabled. But national commitments don’t renew themselves. Voting does.
I hope Gen Xers and Millennials understand the importance of Social Security and voting. Good article.
"Everyone is entitled to their own opinion, but not their own facts." - Daniel Patrick Moynihan

Re: Why Social Security is not adding to the deficit

5 by highdesert
featureless wrote: Thu Nov 01, 2018 11:20 am I'm a gen x. I understand the importance of both. Don't really expect to get a dime out of social security even with a life of consistently voting Dem. Oh well. I'll go be poor somewhere else!
I strongly doubt you'll be poor, you're very intelligent and have a plan. Social Security for many of us is a supplement not all of our retirement income. Social Security has broadened since the original act of 1935 and that's what many Republicans don't like, things like SSDI unless of course they're a recipient of it. Fear and selfishness, hallmarks of Republicans. They're battling now about "Medicare for All", rationalizing that if everyone gets Medicare then there won't be enough for retirees and Republican politicians are out waving that flag.

https://www.ssa.gov/history/briefhistory3.html
"Everyone is entitled to their own opinion, but not their own facts." - Daniel Patrick Moynihan

Re: Why Social Security is not adding to the deficit

6 by YankeeTarheel
I'm 63, and at 66.5 I'll be eligible for full SocSecbenefits. At 65, I'll be eligible for MediCare But if the Dems lose Tuesday, all those hundreds of thousands I paid in over my working career will be....gone. Stolen. In Republican billionaires' pockets. I always figured by the time I was eligible, the ReThief-Agains would have figured out how to rob me of both--I figured THAT out, that it would happen back when Ronald Reagan was elected, and the Blue Dog DINOs gave him everything he wanted 37 years ago. I was 26 in 1981.
"Even if the bee could explain to the fly why pollen is better than shit, the fly could never understand."

Re: Why Social Security is not adding to the deficit

7 by featureless
highdesert wrote: Thu Nov 01, 2018 11:52 am
featureless wrote: Thu Nov 01, 2018 11:20 am I'm a gen x. I understand the importance of both. Don't really expect to get a dime out of social security even with a life of consistently voting Dem. Oh well. I'll go be poor somewhere else!
I strongly doubt you'll be poor, you're very intelligent and have a plan. Social Security for many of us is a supplement not all of our retirement income. Social Security has broadened since the original act of 1935 and that's what many Republicans don't like, things like SSDI unless of course they're a recipient of it. Fear and selfishness, hallmarks of Republicans. They're battling now about "Medicare for All", rationalizing that if everyone gets Medicare then there won't be enough for retirees and Republican politicians are out waving that flag.

https://www.ssa.gov/history/briefhistory3.html
Funny thing about Medicare for all, it's the same system we have now, just without the giant, sucking profit model in the middle....

Re: Why Social Security is not adding to the deficit

8 by TrueTexan
YankeeTarheel wrote: Thu Nov 01, 2018 11:57 am I'm 63, and at 66.5 I'll be eligible for full SocSecbenefits. At 65, I'll be eligible for MediCare But if the Dems lose Tuesday, all those hundreds of thousands I paid in over my working career will be....gone. Stolen. In Republican billionaires' pockets. I always figured by the time I was eligible, the ReThief-Agains would have figured out how to rob me of both--I figured THAT out, that it would happen back when Ronald Reagan was elected, and the Blue Dog DINOs gave him everything he wanted 37 years ago. I was 26 in 1981.
You mean when Reagan “saved” Social Security by making you have to work longer before you can retire instead of raising the cap on higher income. Also adding a Medicare Tax to your payroll, because the tax cut to Rich at that time caused a deficit and Medicare took the hit.
Facts do not cease to exist because they are ignored.-Huxley
"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." ~ Louis Brandeis,

Re: Why Social Security is not adding to the deficit

9 by TrueTexan
featureless wrote: Thu Nov 01, 2018 12:33 pm
highdesert wrote: Thu Nov 01, 2018 11:52 am
featureless wrote: Thu Nov 01, 2018 11:20 am I'm a gen x. I understand the importance of both. Don't really expect to get a dime out of social security even with a life of consistently voting Dem. Oh well. I'll go be poor somewhere else!
I strongly doubt you'll be poor, you're very intelligent and have a plan. Social Security for many of us is a supplement not all of our retirement income. Social Security has broadened since the original act of 1935 and that's what many Republicans don't like, things like SSDI unless of course they're a recipient of it. Fear and selfishness, hallmarks of Republicans. They're battling now about "Medicare for All", rationalizing that if everyone gets Medicare then there won't be enough for retirees and Republican politicians are out waving that flag.

https://www.ssa.gov/history/briefhistory3.html
Funny thing about Medicare for all, it's the same system we have now, just without the giant, sucking profit model in the middle....

Health insurance Executives and Salespeople have to live. You expect them to go out and get honest jobs. :sarcasm:
Facts do not cease to exist because they are ignored.-Huxley
"We can have democracy in this country, or we can have great wealth concentrated in the hands of a few, but we can't have both." ~ Louis Brandeis,

Re: Why Social Security is not adding to the deficit

10 by featureless
TrueTexan wrote: Thu Nov 01, 2018 12:37 pm Health insurance Executives and Salespeople have to live. You expect them to go out and get honest jobs. :sarcasm:
As much as I dislike the insurance industry, that is a real problem. It employs a ton of people just like you and me (read: not rich). I'm sure many could push Medicare paperwork instead for approximately the same salary and less expensive benefits.

Re: Why Social Security is not adding to the deficit

11 by harriss
TrueTexan wrote: Thu Nov 01, 2018 9:51 am A very good article on why Social Security is NOT adding to the deficit and the Reptilian lies about it.
The GOP has been intent on destroying Social Security since 1934 when its creation was first proposed by the Roosevelt administration. This, however, remained always a rather remote possibility … until now. With Trump and Congress transferring even more wealth to the rich and large corporations in the form of tax cuts that will land the country $10 trillion deeper in debt, the party of pseudo-fiscal hawks is campaigning hard for legislation that will lead to sharp cuts in Social Security and other entitlements.

In this context, the 2018 midterm elections could be the most consequential midterm election in years, according to Teresa Ghilarducci, an internationally known economist on labor and retirement. In this exclusive interview, Ghilarducci — a professor at The New School for Social Research, as well as the author of numerous books including Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans and When I’m Sixty-Four: The Plot Against Pensions and the Plan to Save Them — shares her analysis of the GOP attack on Social Security.
https://truthout.org/articles/the-gop-t ... -security/

Before congress and the Orange Stain cuts any social benefits like Social Security or health benefits like Medicare they should cut all retirement benefits to Elected Federal Employees both past and present except for self funded retirement like 401K without matching funds and Social Security. Let them live like many of their constituents back home. They shouldn't really miss their retirement since the majority of the congress critters are millionaires.
This is why Mitch McConnell and his ilk have made a bargain with the devil in the guise of Humpty Trumpty.

Re: Why Social Security is not adding to the deficit

12 by highdesert
TrueTexan wrote: Thu Nov 01, 2018 12:37 pm
featureless wrote: Thu Nov 01, 2018 12:33 pm
highdesert wrote: Thu Nov 01, 2018 11:52 am
featureless wrote: Thu Nov 01, 2018 11:20 am I'm a gen x. I understand the importance of both. Don't really expect to get a dime out of social security even with a life of consistently voting Dem. Oh well. I'll go be poor somewhere else!
I strongly doubt you'll be poor, you're very intelligent and have a plan. Social Security for many of us is a supplement not all of our retirement income. Social Security has broadened since the original act of 1935 and that's what many Republicans don't like, things like SSDI unless of course they're a recipient of it. Fear and selfishness, hallmarks of Republicans. They're battling now about "Medicare for All", rationalizing that if everyone gets Medicare then there won't be enough for retirees and Republican politicians are out waving that flag.

https://www.ssa.gov/history/briefhistory3.html
Funny thing about Medicare for all, it's the same system we have now, just without the giant, sucking profit model in the middle.... Health insurance Executives and Salespeople have to live. You expect them to go out and get honest jobs. :sarcasm:
Yep, Nixon sold the country on "managed health care" that would control health care costs. Another myth like Trumps that he was going to give everyone health care that was better and cheaper than Obamacare. Those big sucking health insurance companies, managed by states so there can be a lot of variations. The Liar-in-Chief has no answers to anything especially not health care.
"Everyone is entitled to their own opinion, but not their own facts." - Daniel Patrick Moynihan
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