Per GOP: Social Security, Medicare & Medicaid up for cuts

[mugtang]

https://x.com/distillsocial/status/1864825587581292699?s=46&t=0rZccjxHnQ9umoQFPThY1g
 

I can’t embed the tweet but the video is a Fox News broadcast.  

[CoachKenFTW]

Social Security should be first on the chopping block. The return on investment is disastrous. Take that 13% away from the govt. and put it back into the economy, retirement plans, or both. Even something simple as high yield savings accounts, bonds or whole life insurance would be better than SSI. But we're a nation of financial illiterates, so it's never going to happen.

[mugtang]

On 12/5/2024 at 6:43 PM, CoachKenFTW said:

Social Security should be first on the chopping block. The return on investment is disastrous. Take that 13% away from the govt. and put it back into the economy. Even something simple as high yield savings accounts, bonds or whole life insurance would be better than SSI. But we're a nation of financial illiterates, so it's never going to happen.

Ok you go tell the old people they are going to get kicked off social security. It’s definitely a winning political strategy.  

[CoachKenFTW]

On 12/5/2024 at 7:26 PM, mugtang said:

Ok you go tell the old people they are going to get kicked off social security. It’s definitely a winning political strategy.  

There's no need to be an emotional simpleton. It can be phased out.

[Billings]

On 12/5/2024 at 4:43 PM, CoachKenFTW said:

Social Security should be first on the chopping block. The return on investment is disastrous. Take that 13% away from the govt. and put it back into the economy, retirement plans, or both. Even something simple as high yield savings accounts, bonds or whole life insurance would be better than SSI. But we're a nation of financial illiterates, so it's never going to happen.

You would have to force people to save or they won’t.  Also for SSDI and disability you would have a huge hole to fill with taxes.

[mugtang]

On 12/5/2024 at 7:34 PM, Billings said:

You would have to force people to save or they won’t.  Also for SSDI and disability you would have a huge hole to fill with taxes.

Screw the disabled!

[mugtang]

On 12/5/2024 at 7:29 PM, CoachKenFTW said:

There's no need to be an emotional simpleton. It can be phased out.

What about the disabled?  Are we also going to turn the elderly over to private health insurance?  Cause that’s going splendidly. 

[FresnoFacts]

On 12/5/2024 at 6:43 PM, CoachKenFTW said:

Social Security should be first on the chopping block. The return on investment is disastrous.

 

By law, Social Security can only invest in US Treasury securities. That limits the return. Plus it gives the government a deep-pocket competing with other investors for treasuries.

[BYUcougfan]

On 12/5/2024 at 8:26 PM, mugtang said:

Ok you go tell the old people they are going to get kicked off social security. It’s definitely a winning political strategy.  

Something has got to give at some point.  For 2024, total revenue was $4.9T and total spending was $6.75T.  Fine, raise taxes, but I don't think you can raise taxes by $1.8T per year.  DOGE certainly is not going to find $1.8T hiding somewhere.  We had all kinds of people advocating for debt when interest rates were virtually zero.  The cost to service the debt in 2024 was close to $900B.  There is some pain in our future.

[CoachKenFTW]

On 12/5/2024 at 8:20 PM, mugtang said:

What about the disabled?  Are we also going to turn the elderly over to private health insurance?  Cause that’s going splendidly. 

If you'd calm down and actually read what I wrote you'd see I was only advocating for SSI to be cut, not medicare.

[CoachKenFTW]

On 12/5/2024 at 7:34 PM, Billings said:

You would have to force people to save or they won’t.  Also for SSDI and disability you would have a huge hole to fill with taxes.

We're going to be forced into much harder decisions and predicaments if we continue pretending that a "safety net" with all the inherent flaws of a Ponzi scheme is somehow sustainable. Benefits are going to drop 25-30% once the SSI Trust Fund runs dry in the early 2030s, and it's all downhill from there.

[renoskier]

On 12/5/2024 at 7:34 PM, Billings said:

You would have to force people to save or they won’t.  Also for SSDI and disability you would have a huge hole to fill with taxes.

unfortunately

 

and if folks don't like the "homeless" problem now, just wait until a million elderly folks are pushed to the streets

[Madmartigan]

On 12/6/2024 at 9:07 AM, renoskier said:

unfortunately

 

and if folks don't like the "homeless" problem now, just wait until a million elderly folks are pushed to the streets

You'd know all about pushing the Elderly given your time attending games at Mackay stadium wouldn't you? 

[NorCalCoug]

On 12/6/2024 at 9:07 AM, renoskier said:

unfortunately

 

and if folks don't like the "homeless" problem now, just wait until a million elderly folks are pushed to the streets

 

On 12/6/2024 at 9:50 AM, Madmartigan said:

You'd know all about pushing the Elderly given your time attending games at Mackay stadium wouldn't you? 

Oh shit….

[NorCalCoug]

On 12/6/2024 at 7:21 AM, BYUcougfan said:

Something has got to give at some point.  For 2024, total revenue was $4.9T and total spending was $6.75T.  Fine, raise taxes, but I don't think you can raise taxes by $1.8T per year.  DOGE certainly is not going to find $1.8T hiding somewhere.  We had all kinds of people advocating for debt when interest rates were virtually zero.  The cost to service the debt in 2024 was close to $900B.  There is some pain in our future.

Folks are completely out of touch if they don’t think massive cuts are coming to most programs at some point.  This isn’t a Republican vs Democrat thing, it’s just reality.  The American people have had it too good for too long.  Gotta pay the piper at some point.  $1.8T deficits aren’t sustainable.  Just get your own financial house in order.

[mysfit]

Maybe knock off those tax cuts for the ultra wealthy. The ones who could spend millions a week and not run out of money 

[NorCalCoug]

On 12/6/2024 at 10:16 AM, mysfit said:

Maybe knock off those tax cuts for the ultra wealthy. The ones who could spend millions a week and not run out of money 

 

[InnZoneU]

Boomers don't have to worry about their SS.  They got theirs.  Everyone else can go fck themselves.  The time to save wasn't 30 years ago when their SS was under attack.  Nope.  Their argument was that they worked hard for that and paid into the system.  Now their argument is simply that people need to do without and take the pain.  Suckers.

LMFAO.

[HR_poke]

On 12/6/2024 at 10:28 AM, InnZoneU said:

Boomers don't have to worry about their SS.  They got theirs.  Everyone else can go fck themselves.  The time to save wasn't 30 years ago when their SS was under attack.  Nope.  Their argument was that they worked hard for that and paid into the system.  Now their argument is simply that people need to do without and take the pain.  Suckers.

LMFAO.

I mentioned cutting SS or means testing to my boomer parents a few years ago.  They lost their shit.  They "Earned" that money and it's theirs!  

[mugtang]

On 12/6/2024 at 6:21 AM, BYUcougfan said:

Something has got to give at some point.  For 2024, total revenue was $4.9T and total spending was $6.75T.  Fine, raise taxes, but I don't think you can raise taxes by $1.8T per year.  DOGE certainly is not going to find $1.8T hiding somewhere.  We had all kinds of people advocating for debt when interest rates were virtually zero.  The cost to service the debt in 2024 was close to $900B.  There is some pain in our future.

I understand something has to give.  I also know we need across the board cuts but taxes also have to be increased.  We also need to properly fund the IRS (which I know isn't popular) because there's a tax gap of nearly $540 billion.  If you properly fund the IRS and don't make any additional changes that would cut the deficit by 30%.  And they aren't going after middle class workers, despite the talking points.  If you're not claiming the earned income tax credit or another credit it's highly unlikely you'll ever hear from the IRS.  

But we also need to raise revenue.  We are right now collecting 16.2% of GDP.  That number needs to be increased to somewhere between 18-19% of GDP.  And you need to cut spending to a similar level.  Again, it won't be popular but unless we address this now there's going to be severe austerity in our future.  The world will only continue purchasing our debt for so long.  After that the party is over.