For the love of god or whoever … VOTE!

[eljr]

Here's a re-cap of Biden's plan for Social Security:

Retirement Resources | Bankrate

Make your retirement plan solid with tips, advice and tools on individual retirement accounts, 401k plans and more.

www.bankrate.com

His plan really is to just remove the cap on FICA withholding, but have a "donut hole" between the 2021 cap ($142K) and $400K per individual. If he does this that means some people could get some very impressive benefit checks.

There is a benefit cap which there will be no reason to raise.

 

[Irvrobinson]

There is a benefit cap which there will be no reason to raise.

Show me in the law where there's a benefit cap that isn't based on the FICA income cap.

Social Security Act Table of Contents

Compilation of Social Security Laws

www.ssa.gov

 

[Irvrobinson]

You are where you belong, in the GOP, the party of victimization.

And you know this how? Never mind, I forgot. Anyone who isn't a progressive democratic socialist is a Trump supporter on AH.

 

[eljr]

And you know this how? Never mind, I forgot. Anyone who isn't a progressive democratic socialist is a Trump supporter on AH.

or a god-awful, ignorant libertarian, which in their won way are as bad a a trumpist

 

[Irvrobinson]

or a god-awful, ignorant libertarian, which in their won way are as bad a a trumpist

I'm not a Trump supporter or a libertarian. I'm an independent, like Comrade Sanders, but I have somewhat different ideas about how the economy should be managed, to say the least. I register as either a Democrat or a Republican depending on the place I live, so I can have a vote in the most important primary elections of the state I live in.

 

[Irvrobinson]

Grow up, and ditch the misogyny!

So I hate women because I think you might be one? I was just giving you the benefit of the doubt.

 

[Trell]

So I hate women because I think you might be one? I was just giving you the benefit of the doubt.

As I wrote, you know very well I'm not a woman nor gay, but perhaps you think being a misogynist is better than an anti-gay bigot, at least publically for whatever reputation you have left?

Edit: Grow up, ditch the misogyny along with the (subtle )bigotry!

 

[lp85253]

Yet again resorting to personal insults instead of arguments, which is your modus operandi.

So here is your "answer" in full, your post #905. Instead of answering a simple yes/no if Warren Buffet lied you wrote:

"You are being stupid. That's not an insult, it's an observation. I did not say Buffett lied, but he didn't talk about his secretary's tax rate or her income, or sources of her income. We know the sources of Buffett's income do not include much in the way of salary, because he only earns $100K/yr from BRK. His secretary probably earns more in salary than he does. Wages above a certain level, which isn't all that impressive, are taxed at a higher rate than income from long-term capital gains, and dividends. Also, gains can be offset by losses from previous years, while wage income can only be offset by about $3K of losses per year. (@Trebdp83 can check my facts.) So the bottom line is that Buffett's secretary probably makes most of her annual income from wages, while Buffett doesn't, and she is unlikely to have the same rate of other credits and deductions as he does either.
"

ding.. ding..ding.. somebody who gets real world application ....well done....

 

[Mikado463]

ding.. ding..ding.. somebody who gets real world application ....well done....

I like Warren, he owns the biggest railroad in then land !

 

[lp85253]

As I wrote, you know very well I'm not a woman nor gay, but perhaps you think being a misogynist is better than an anti-gay bigot, at least publically for whatever reputation you have left?

Edit: Grow up, ditch the misogyny along with the (subtle )bigotry!

he hates us whiny "takers" too(even though this "taker" worked blue collar jobs he couldn't hack , for 25 years *with cerebral palsy*) .. don't feel bad.. he doesn't care about much besides his bottom line..

 

[lp85253]

I like Warren, he owns the biggest railroad in then land !

dude is the only billionaire i wouldn't want to punch in the forehead .. the rest of them are pretty much trump with less orange makeup....edit: i'd give Karl Warden a pass too.. he was always a pretty down to earth guy back in the day...

 

[trochetier]

What does this have to do with what I posted?

See your post 951.
"Social Security was structured like it is to be a pension system for the working class, not a welfare system. No work, no pay. Congress changed that over the years, which is part of the problem. "

 

[trochetier]

IMO the whole SS law needs to be updated, NOT tinkered around the edges. If I were writing the Bill I would include at least the following -
1. SS tax should be paid for all sources of income not just earned wages. For example, many wealthy folks structure their earning with dividends, capital gains. As far as I know SS tax is not due on that income.
2. SS tax should be based on x% of income with no dollar limit. The current dollar limit is regressive a person earning <= SS tax limit pays the tax on 100% of income yet someone earning say 10 times that pays only on 1/10th of the income.
3. Invest a small portion (say no more than10%) of the SS trust fund in the Total stock market regularly so as to cost average the investment and not cause market turbulence.
4. Raise the MAGI for taxes on SS income to reflect the inflation rate since it was put in place in 1980's. This discourages seniors from being productive members of the society and penalizes them for supplementing their SS income.
http://www.easyretirementknowhow.com/articlecategories/SocialSecurityBenefits/sya131204tax-SSbenefittaxthresholdsPIC.htm

 

[Irvrobinson]

he hates us whiny "takers" too(even though this "taker" worked blue collar jobs he couldn't hack , for 25 years *with cerebral palsy*) .. don't feel bad.. he doesn't care about much besides his bottom line..

How do you know what I've done or what I "couldn't hack"? Is there some intersection in our histories I'm not aware of?

 

[Mikado463]

how about we get it out of the 'General Fund' so as all those Washington misfits can't manipulate it !

 

[Irvrobinson]

IMO the whole SS law needs to be updated, NOT tinkered around the edges. If I were writing the Bill I would include at least the following -
1. SS tax should be paid for all sources of income not just earned wages. For example, many wealthy folks structure their earning with dividends, capital gains. As far as I know SS tax is not due on that income.

You are correct. What you're describing is exactly what the conceivers of the SS system didn't want it to be. It was supposed to be and was structured to be a supplemental income retirement system for workers, and was highly biased to people below a certain income level. What you're describing is a wealth redistribution system.

2. SS tax should be based on x% of income with no dollar limit. The current dollar limit is regressive a person earning <= SS tax limit pays the tax on 100% of income yet someone earning say 10 times that pays only on 1/10th of the income.

This is essentially what Biden is proposing. He's just not mentioning the full story about benefits the high income people would get. I wish it would have been passed before I retired, because this is a great deal for people who earn more than the current income cap.

3. Invest a small portion (say no more than10%) of the SS trust fund in the Total stock market regularly so as to cost average the investment and not cause market turbulence.

This proposal has been made repeatedly by Republicans, though their proposal included individual accounts. What you seem to be proposing is a centralized, program-level investment.

4. Raise the MAGI for taxes on SS income to reflect the inflation rate since it was put in place in 1980's. This discourages seniors from being productive members of the society and penalizes them for supplementing their SS income.
http://www.easyretirementknowhow.com/articlecategories/SocialSecurityBenefits/sya131204tax-SSbenefittaxthresholdsPIC.htm

I agree.

 

[Irvrobinson]

ding.. ding..ding.. somebody who gets real world application ....well done....

Thank you.

 

[lovinthehd]

Check out the unstable genius sharing the Quaid stuff? What a pair !

 

[lovinthehd]

LOL or his press conference touting the stock market's reaction to the confirmation of Biden's wins in Nevada and Pennsylvania and taking credit for it.....altho in a way he did have something to do with that....by losing! LOL.

 

[lp85253]

LOL or his press conference touting the stock market's reaction to the confirmation of Biden's wins in Nevada and Pennsylvania and taking credit for it.....altho in a way he did have something to do with that....by losing! LOL.

i was thinking that earlier in the day.. the market is probably reacting to the news that trump is figuring it out and has 1 foot out the door..