Socialism for the rich

[WTF]

[QUOTE=bb1961;1061262356]

Originally Posted by WTF

So you're doing the happy dance about counting the years before it becomes insolvent.Yes..if it been managed correctly from the start THERE would be no worries EVER. It had a similar problem in the 1980, there was an adjustment made and almost 50 years in the black..there is no money invested what ever comes out goes directly to pay the recipients..Yes there is , you are showing your ignorance on how the system works.The surplus is invested in TBills. .IT'S a ponzi scheme...there is no pension fund!! wtf are you talking about?
Like I said the BIGGEST % of the debt is SS.. How can you have a driver of debt if it is in the black? . NOT MILITARY spending. Military spending does not have a dedicated tax revenue. So in regards to deficit spending you take the % of discretionary Which Defense spending is and find out the portion is related to Defense. You then assign the same % to what the interest one has paid over the years to that. ..A BIG 3.5% of GDP...another one of you fabrications!!
It would only work with your logic...people working to 100..There are some simple solutions , Raise the cap from 127k , raise the retirement age. .since their living longer...EINSTEIN!!
And SS would never go insolvent...great idea!!
Run it by Bullosey

The SS debt is the biggest % of the debt and you go on about how it isn't in trouble...please explain that with economic rationalization??

SS and Medicare are not in debt.

Let me try and break it down for the simple minded.

Say there were three brothers.

WTF, tiny and special ed who we'll call bb1961.

Special Ed and tiny saved money since 1986 putting their surplus in the bank for a rainy day. They both had a business that had great cash flow.

WTF liked to buy guns and shoot up shit. His business always came up in the red but he would borrow from the savings of his brothers tiny and bb1961s . Leaving an IOU.

Recently , after almost 50 years of WTF not paying his fair share the IOU were huge. WTF started crying about tiny and bb1961 were not saving enough for him to borrow from ( remember business of Federal tax had not been in the black in a long long time).


Now who the fuck would YOU blame for the budget deficits over all these years? ting? special ed? Or that fucking spend more than he makes WTF?

Why should tiny and special ed have to cut their spending so that WTF can continue to spend like nothing was wrong?

Why not have all three make an adjustment to their respective incoming cask flows and expenditures?

[bb1961]

So the biggest portion of the national debt BEING SS... that is fucking DEBT(money owed)...I guess if you have a credit line of trillions of dollars and can't touch the principle because you can only pay the interest...you're in great financial shape!!
You sound like a Paul Krugman...

[WTF]

Originally Posted by bb1961

So the biggest portion of the national debt BEING SS... that is fucking DEBT(money owed)...I guess if you have a credit line of trillions of dollars and can't touch the principle because you can only pay the interest...you're in great financial shape!!
You sound like a Paul Krugman...

The biggest portion of the nations debt is from Defense spending. Had we had higher taxes or spent less...we would not have this huge debt. SS has not contributed a dime to the current debt.

SS is not in debt. It has 16 years before it goes negative according to your own link!....even then without adjustments, you'd get a large portion of what you had hoped .


If you had a business and you 'd make adjustments to your inflow....which can easily be done by three things. Taking the cap off the SS tax, increasing the rate and increasing the retirement age.

You are obviously confused with how the system works. No one could purposefully be this obtuse.

[themystic]

Originally Posted by bb1961

So the biggest portion of the national debt BEING SS... that is fucking DEBT(money owed)...I guess if you have a credit line of trillions of dollars and can't touch the principle because you can only pay the interest...you're in great financial shape!!
You sound like a Paul Krugman...

bb you don't know your stuff Brother. lets have lunch sometime and ill explain it to you. Take notes

[Tiny]

Originally Posted by bb1961

When is just paying the interest on the debt, let alone the principle going to overwhelm the tax payers of this country??

Yes, we're fucked. In WTF's article, Robert Reich complains about the banks benefiting from low interest rates. What if they were higher, say 5%? The interest expense on 20 trillion in federal debt would be $1 trillion per year. Compare to the amount raised by the income tax, $2.2 trillion a year. The tax on death and gifts (the punish the rich tax) raised $29 billion in 2017.

[WTF]

Originally Posted by Tiny

Yes, we're fucked. In WTF's article, Robert Reich complains about the banks benefiting from low interest rates. What if they were higher, say 5%? The interest expense on 20 trillion in federal debt would be $1 trillion per year. Compare to the amount raised by the income tax, $2.2 trillion a year. The tax on death and gifts (the punish the rich tax) raised $29 billion in 2017.

Me thinks he was complaining about the banks and its slow return to Moral Hazard.

If you were at a Casino and you knew that if you spent more than you had and the government was going to bail you out that is welfare of sort.

The government has been able to do this at the expense of people who save...this in turn has boosted the stock market and benefitsinvestment banks.

Maybe that is what he was talking about...the moral hazard of the transfer of wealth.

Maybe we should ask him

[Tiny]

Originally Posted by WTF

Me thinks he was complaining about the banks and its slow return to Moral Hazard.

If you were at a Casino and you knew that if you spent more than you had and the government was going to bail you out that is welfare of sort.

The government has been able to do this at the expense of people who save...this in turn has boosted the stock market and benefitsinvestment banks.

Maybe that is what he was talking about...the moral hazard of the transfer of wealth.

Maybe we should ask him

Agreed about the casino bank analogy. If the government is going to supply FDIC insurance on deposits, then insured banks should be run in a manner such that they're not going to go under and the banks collectively should pay sufficient money for the insurance to cover failures. This means they should be more-than-adequately capitalized for the risks they take. Historically and even today you see banks with net tangible equity as a percent of assets of a few percent. This means that a few percent of their assets go bad, through bad loans or whatever, and they're wiped out. The ratio needs to be more like 10%.

As to Reich, he's arrogant, sanctimonious, and wrong about most things. "Moral hazard of the transfer of wealth" sounds like an excuse for the government to steal.

[bb1961]

Originally Posted by themystic

bb you don't know your stuff Brother. lets have lunch sometime and ill explain it to you. Take notes

You don't know your stuff...you parrot to much because you have no idea other that to listen to WTF and he don't know his stuff.
He is stuck on the 3.5 fucking% GDP defense spending when SS is in deficit spending...he can't comprehend that...but when someone knows everything they really know NOTHING!!https://www.usatoday.com/story/opini...umn/914488002/
WTF tell these people you know more than you do...but keep you head in the sand because we don't have to worry about it for a few years yet...before catastrophe hits...pretty reckless thinking!!

[Tiny]

[QUOTE=WTF;1061262447]

Originally Posted by bb1961

SS and Medicare are not in debt.

Let me try and break it down for the simple minded.

Say there were three brothers.

WTF, tiny and special ed who we'll call bb1961.

Special Ed and tiny saved money since 1986 putting their surplus in the bank for a rainy day. They both had a business that had great cash flow.

WTF liked to buy guns and shoot up shit. His business always came up in the red but he would borrow from the savings of his brothers tiny and bb1961s . Leaving an IOU.

Recently , after almost 50 years of WTF not paying his fair share the IOU were huge. WTF started crying about tiny and bb1961 were not saving enough for him to borrow from ( remember business of Federal tax had not been in the black in a long long time).


Now who the fuck would YOU blame for the budget deficits over all these years? ting? special ed? Or that fucking spend more than he makes WTF?

Why should tiny and special ed have to cut their spending so that WTF can continue to spend like nothing was wrong?

Why not have all three make an adjustment to their respective incoming cask flows and expenditures?

This is my last post for a while. I need to bust my ass for a while and make some money or sell something so I can pay my taxes by April 15, to pay for WTF's reckless spending.

[WTF]

Originally Posted by bb1961

https://www.usatoday.com/story/opini...umn/914488002/
WTF tell these people you know more than you do...but keep you head in the sand because we don't have to worry about it for a few years yet...before catastrophe hits...pretty reckless thinking!!

I have one important question for you...if SS and Medicare have so far paid for themselves. You do agree that our current debt is not the result of either of those programs right?

You're not that ignorat right?

There is nobody in the world who thinks that.

Here is the important question


What has been the biggest driver of of the current 22 Trillion dollar deficit?

You can not blame SS or Medicare. Remember that.

And here is a simple fix for SS...which stoll does not address the Defense deficit spending
https://www.fool.com/retirement/2018...d-fix-soc.aspx

[WTF]

[QUOTE=Tiny;1061263535]

Originally Posted by WTF

This is my last post for a while. I need to bust my ass for a while and make some money or sell something so I can pay my taxes by April 15, to pay for WTF's reckless spending.

LOL...I knew I should have designated Special Ed as the underfunder Defense spender!

[adav8s28]

Originally Posted by WTF

Are you nuts?

You do realize that SS and Medicare are in the black.

Those programs have a dedicated tax.

The biggest driver of our debt is unfunded military spending.

If we had a dedicated tax on military spending like we do on SS and Medicare that is required to stay in the black....this country would have very little debt.

I agree with you that Medicare is in the black right now. However, it is projected to run out in 2035.

I also agree with you that they need to change the formula for how one contributes. The birth rate in the USA has declined and the old formula needs to be changed.

I disagree when bb161 says its a Ponzi Scheme. Bernie Madhoff was running a true Ponzi scheme. With Social Security what you get back is based on how much you put in. The person who's income averages 70,000 a year is going to get a lot more than the person who averages 50,000 a year. A ponzi scheme does not work that way at all.

[dilbert firestorm]

1935??? lol!

[adav8s28]

Originally Posted by dilbert firestorm

1935??? lol!

Typo's aren't as bad as reading comprehension.

1&2, 9&0 are right next to each other on the keyboard. 1 and 9 were typed instead of 2 and 0.

[Yssup Rider]

Don’t worry about that, bro. When it’s all about the typos, it’s obvious the poster can’t defend his/her position.

Of course, as you pointed out, there’s a big difference between a typo and a lack of coherent thought.

Give me the typos any day. We’ve got way too much of the other.