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Post by Dutch on Mar 25, 2024 20:16:44 GMT -5
I'm for eliminating it. Pay in and hope you live long enough. Some do some don't and they still mismanage it. They never mismanage their bank accounts though. They can only invest in US government bonds. Not sure how it's mismanaged as that's all they can do
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Post by stroupy on Mar 25, 2024 20:35:50 GMT -5
They mismanage everything they touch look at our debt.
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Post by bushmaster on Mar 26, 2024 5:14:24 GMT -5
Well,no one seems to want to answer the question, do we raise the retirement age, increase taxes, or a little of both?? You don't do any of that till after I'm dead. LOL
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Post by CoureurDeBois on Mar 26, 2024 5:52:40 GMT -5
We close the boarder and give all the money we’ve been giving to illegals to SS.😁
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Post by davet on Mar 26, 2024 6:44:01 GMT -5
Well,no one seems to want to answer the question, do we raise the retirement age, increase taxes, or a little of both?? Hard for me to answer that on at least the "extended age" piece. I was so sick in my late 40's that I couldn't work. OTOH, my late father didn't retire until he was 71....and he could have kept going then. As for the tax increase, I don't know what the numbers would be if they just went to an unlimited income of SS tax on earned income. Right now the OASDI limit is $168,600. So if they eliminated the income limit of the SS tax of 6.2%, how much more would that bring in? They have very smart Actuaries who have already calculated these amounts. But I have no issue with an unlimited SS tax on earned income. Then again, i can easily spend other peoples money!!!!
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Post by CoureurDeBois on Mar 26, 2024 12:53:57 GMT -5
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Post by davet on Mar 26, 2024 14:01:29 GMT -5
In reading the qualifications, the first one is the person must be "Lawfully Admitted". There are other test to meet in order to be a "Qualified Alien", but you can read that if you want. The second, and most interesting is, once the person meets the "Qualified Alien" test, that's not an automatic ticket to SS benefits. The next condition that must be met is they must have 40 quarters of employment where they have paid into the SS fund. 40 quarters is ten years. I read another article where Alien's who actually draw SS rarely draw out more than they have paid into the system. So I think the answer to your question is no.
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Post by Dutch on Mar 26, 2024 19:17:31 GMT -5
They mismanage everything they touch look at our debt. The Trump tax cuts and the COVID excesses contribute to the debt situation. Also, SS is now drawing out the money it lent to the government, which makes for higher deficits. The Trump tax cuts expire in 2025, I believe. My guess is they will not be renewed, if we have Dems in control.
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Post by rusty on Mar 26, 2024 19:50:46 GMT -5
If everyone paid a part of every dollar they take in, the percentage would be much lower for those who pay from every dollar now and it would be funded for ever.
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Post by davet on Mar 27, 2024 5:17:16 GMT -5
Speaking of taxes, Trumpers seem to forget that Trump assesed the largest tax increase on Americans ever via increasing tariffs on imports.
What this does is hurt the lowest income people in the USA. Doesn't have much of an effect on billionaires though.
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Post by stroupy on Mar 27, 2024 5:24:13 GMT -5
Speaking of taxes, Trumpers seem to forget that Trump assesed the largest tax increase on Americans ever via increasing tariffs on imports. What this does is hurt the lowest income people in the USA. Doesn't have much of an effect on billionaires though. Why did I have more money in my pocket when Trump was in?
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Post by davet on Mar 27, 2024 5:26:59 GMT -5
Speaking of taxes, Trumpers seem to forget that Trump assesed the largest tax increase on Americans ever via increasing tariffs on imports. What this does is hurt the lowest income people in the USA. Doesn't have much of an effect on billionaires though. Why did I have more money in my pocket when Trump was in? I don't know.....you had more customers until you put that Trump 2024 sticker on your bumper?
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Post by stroupy on Mar 27, 2024 5:29:25 GMT -5
Why did I have more money in my pocket when Trump was in? I don't know.....you had more customers until you put that Trump 2024 sticker on your bumper? Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump.
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Post by davet on Mar 27, 2024 6:17:56 GMT -5
I don't know.....you had more customers until you put that Trump 2024 sticker on your bumper? Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. You can look it up I'm sure.
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Post by rusty on Mar 27, 2024 6:26:04 GMT -5
I don't know.....you had more customers until you put that Trump 2024 sticker on your bumper? Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. You increased your income, or the tax you paid by that amount? Either way, it seems the biden years are being good to you.
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Post by stroupy on Mar 27, 2024 6:27:58 GMT -5
Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. You increased your income, or the tax you paid by that amount? Either way, it seems the biden years are being good to you. My costs have gone up almost $12,000... and so has everyone else's. Yep those Biden years have been the best years of my life. But hey the economy grew last quarter...
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Post by rusty on Mar 27, 2024 6:38:38 GMT -5
Costs for what?. Your parts, your help, your lunches? A percentage increase in your expenses for the same work might be a clearer way to understand what you're blaming on Biden.
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Post by stroupy on Mar 27, 2024 6:42:21 GMT -5
Almost $12,000 for people's essentials. That little inflation thing is sure a whole big much to do about nothing.
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Post by bake545 on Mar 27, 2024 6:53:59 GMT -5
If everyone paid a part of every dollar they take in, the percentage would be much lower for those who pay from every dollar now and it would be funded for ever. If this happened it would be spent immediately just like it is now. SS would be no better off and you'd have less money. Doesn't seem like much of a solution to me.
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Post by Dutch on Mar 27, 2024 8:16:00 GMT -5
I don't know.....you had more customers until you put that Trump 2024 sticker on your bumper? Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. Well, if I was paying $12K more than 18 months ago, I'd be underwater with my finances. I'm not.
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Post by stroupy on Mar 27, 2024 8:33:50 GMT -5
Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. Well, if I was paying $12K more than 18 months ago, I'd be underwater with my finances. I'm not. For the person with a wife and 2 or 3 kids can they say the same? Credit card debt at record levels may give us a clue. Maybe it isn't being spent on just luxeries and toys.
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Post by bake545 on Mar 27, 2024 8:57:03 GMT -5
Groceries are really insane. I go to Giant Eagle and buy a handful of things and it's like $80. Big shopping trips are $300 easy.
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Post by dougl on Mar 27, 2024 9:47:23 GMT -5
Almost $12,000 more then 18 months ago, but tell us about that tax increase under Trump. Well, if I was paying $12K more than 18 months ago, I'd be underwater with my finances. I'm not. Here's the thing Dutch,you didn't buy a house or vehicle.Retired people without kids at home can just hunker down and curb spending much easier than a young family trying to raise kids.I can tell you for a fact,if I cuurently had dependents,their lives would be much different today compared to when they were being raised.I bought a new Ram 2500 in 2016 for 37k out the door.You can't touch that truck for under 72k now.Houses have also doubled in price and the interest rates have tripled.Everything is more and when your older,you just do without.That's what I do.I go to work and go home.From Friday night til monday,my vehicle rarely leaves the driveway.When we grocery shop,a lot less goes into the cart than used to.
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Post by fleroo on Mar 27, 2024 10:14:27 GMT -5
Truthity Ri'chere. It has to be REAL tough raising a family of youngin's in 2024. My wife never had to work, basically because I spent a year of my life building my own home. If we had a young family (5) in 2024, I think "pumpkin" would be plying her trade in the workforce.
Every time I see a 50-60K truck pass by me, I can't help to think what kind of debt some people are in nowadays.
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Post by moosemike on Mar 27, 2024 10:38:31 GMT -5
Having a $50K truck is a lot more fun than not having one 😀
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