Social Security and Medicare
#7347070
09/03/21 07:37 PM
09/03/21 07:37 PM
|
Joined: May 2010
Posts: 10,485 MN
Steven 49er
OP
trapper
|
OP
trapper
Joined: May 2010
Posts: 10,485
MN
|
Projections are Medicare will be in the red in 2026 and Social Security trust fund will run out in 2034 necessitating a 20 percent cut in payouts.
Those numbers are projections, the reality is it will be sooner.
What is the "fix"?
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
|
|
|
Re: Social Security and Medicare
[Re: Bob_Iowa]
#7347081
09/03/21 07:47 PM
09/03/21 07:47 PM
|
Joined: Dec 2006
Posts: 1,140 Texas Hill Country
Cedar Hacker
trapper
|
trapper
Joined: Dec 2006
Posts: 1,140
Texas Hill Country
|
One fix would be for the general fund to pay the social security trust fund what it is owed.
The largest debt owed by the federal government is to the SSTF. They have been taking excess funds for years and writing IOU's to the SSTF.
Sit on your horse on top of a ridge, look out across the country and tell me there is no God.
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347082
09/03/21 07:47 PM
09/03/21 07:47 PM
|
Joined: Dec 2010
Posts: 11,205 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,205
Armpit, ak
|
Print money. The answer for all spending.
Who is John Galt?
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347085
09/03/21 07:49 PM
09/03/21 07:49 PM
|
Joined: Dec 2006
Posts: 21,716 Sandhills Nebraska
Gary Benson
trapper
|
trapper
Joined: Dec 2006
Posts: 21,716
Sandhills Nebraska
|
The Gubmint has been broke for years. They just can't kick the can down the road any futher. The grim reaper is arriving.
Life ain't supposed to be easy.
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347110
09/03/21 08:09 PM
09/03/21 08:09 PM
|
Joined: Jul 2016
Posts: 3,928 NY
Canvasback2
trapper
|
trapper
Joined: Jul 2016
Posts: 3,928
NY
|
Here is the REAL FIX, and NOBODY is going to like it !!!
First thing we all have to understand and accept, whether we like it or not, the Birth Rate is not keeping up with the Retirement rate. Less people being Born every year, and more people retiring every year. There are more people collecting Medicare and Social Security , than there are people paying into the system.
So, what is the fix ????
It's to have to include several different additions and changes to the System.
1. Increase in the Federal Income Tax.
2. Increase in the Payroll Tax.
3. Eliminate the ability to collect Social Security before full retirement age.
4. RAISE the Age to collect Social Security, to 5 YEARS PAST THE CURRENT AVERAGE LIFE EXPECTANCY. When Social Security was first started, most people did not live long enough to collect Social Security. Right now , the Current life expectancy in to the USA, is 77.8 Years. When the first people started to collect Social Security payments. in 1937; the average Life Expectancy was 58 years. The Birth Rate was also much higher back then. When Medicare was enacted in 1965, he ALE was 70.21 years. Again, the Birth Rate was higher back then.
I can see no other way to stabilize Medicare and Social Security for the long haul. Federal Income Tax, Payroll Tax, Eliminating the ability to collect before full Retirement Age, AND raising the age to collect Social Security to 5 years past the Current and any future Life Expectancy increases: are all going to have to be part of a HUGE change in how the Medicare and Social Security System pays out benefits.
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347115
09/03/21 08:10 PM
09/03/21 08:10 PM
|
Joined: Dec 2006
Posts: 29,894 williamsburg ks
danny clifton
"Grumpy Old Man"
|
"Grumpy Old Man"
Joined: Dec 2006
Posts: 29,894
williamsburg ks
|
ss comes out of the general fund. just like welfare. when do they project welfare to run out of money????????????????????
Those who would give up essential liberty, to purchase a little temporary safety, deserve neither liberty nor safety. Benjamin Franklin (1706-1790)
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347119
09/03/21 08:15 PM
09/03/21 08:15 PM
|
Joined: Sep 2010
Posts: 2,786 Northern lower Michigan
Feedinggrounds
trapper
|
trapper
Joined: Sep 2010
Posts: 2,786
Northern lower Michigan
|
How come Social Security is always running out of money, and welfare never runs out of money. NO!!!!! I don't go along with raising retirement age!! Move all disability cases on Social Security over to welfare. Pay back what is owed to SS trust fund. I have been paying into SS for well over 40 years!
you're only allowed so many sunrises... I aim to see every one of them!
|
|
|
Re: Social Security and Medicare
[Re: danny clifton]
#7347128
09/03/21 08:19 PM
09/03/21 08:19 PM
|
Joined: Dec 2010
Posts: 11,205 Armpit, ak
Dirt
trapper
|
trapper
Joined: Dec 2010
Posts: 11,205
Armpit, ak
|
ss comes out of the general fund. just like welfare. when do they project welfare to run out of money???????????????????? I think the word is fungible?
Who is John Galt?
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347169
09/03/21 08:46 PM
09/03/21 08:46 PM
|
Joined: Dec 2010
Posts: 34,923 Central, SD
Law Dog
trapper
|
trapper
Joined: Dec 2010
Posts: 34,923
Central, SD
|
They dropped the ball on SS years ago and nobody ever picked it up again must of been to hot of a item to touch. When is the last time they overhauled or updated it. Is it being setup to fail?
Was born in a Big City Will die in the Country OK with that!
Jerry Herbst
|
|
|
Re: Social Security and Medicare
[Re: Steven 49er]
#7347181
09/03/21 08:56 PM
09/03/21 08:56 PM
|
Joined: Aug 2011
Posts: 45,524 james bay frontierOnt.
Boco
trapper
|
trapper
Joined: Aug 2011
Posts: 45,524
james bay frontierOnt.
|
Simple fix to keep the system of never ending growth going. Since people are not breeding enough here-it will be necessary to bring in more immigrants from 3rd world countries who will work and breed lots. Its a up system.
Forget that fear of gravity-get a little savagery in your life.
|
|
|
|
|