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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 61159  
Subject: Social Security & Income Inequality Date: 12/29/2012 1:16 PM
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Interesting observation by Krugman in his blog yesterday:

"Remember, back in the 1980s the Greenspan Commission supposedly fixed Social Security’s finances for 75 years, that is, until 2060. Why, then, do most projections show the trust fund running out well before then? Not because life expectancy is rising — that was already built into the projections. No, the big reason is rising inequality, which has led to a growing share of income coming above the payroll tax cap, so that SS revenue lags behind overall compensation. And yet the conventional wisdom is that we should respond to a financing issue caused by rising inequality by slashing benefits, further increasing inequality."

http://krugman.blogs.nytimes.com/2012/12/28/policy-implicati...
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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47115 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/29/2012 9:41 PM
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It's cratering because of all the people that Obama and the drones have put on SS disability.


Getting on the rolls at age 50 or 35 or whenever they can fake it...and collecting for life...maybe 50 more years...


that's what is killing the system.


t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47119 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/29/2012 10:54 PM
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there are now 8.7 million people on SS disability..up 50% in the last couple years.

Thanks to Obama and the liberal drones.

Almost everyone qualifies for SS disability. Get yourself a ambulance chasing type SS lawyer....and you got about 90% chance of getting it after your appeal (and you will almost always have to appeal and almost always win the appeal)..



t.

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Author: alchook Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47122 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 1:18 PM
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It's cratering because of all the people that Obama and the drones have put on SS disability.

It wasn't Obama. It was the law firm of Binder & Binder, carefully marketing to people watching Fox News from the comfort of the scooters they got at The Scooter Store, which "didn't cost me a dime" because Medicare paid for it in full!

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47123 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 1:30 PM
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"t wasn't Obama. It was the law firm of Binder & Binder, carefully marketing to people "


It's on all the channels...and of course, the lawyers get 1/3rd of your first years SS disability payments or more....for their 'work' in getting it to you.

it's a racket...but, if the government is so intent upon sloshing out the welfare funds, you've got to be an idiot to not take advantage of it.....and the weenies do in record numbers.

Same for food stamps.

the states love it....free income for the state residents....


t.

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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47124 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 2:28 PM
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telegraph calculates.

It's on all the channels...and of course, the lawyers get 1/3rd of your first years SS disability payments or more....for their 'work' in getting it to you.

Actually lawyers fees in SS disability cases are limited to 25% of the recovery up to a maximum fee of $6,000.

http://www.disabilitysecrets.com/question16.html

Is there any topic on which you are not a fountain of Fox-fed misinformation?

intercst

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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47125 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 2:36 PM
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Interesting observation by Krugman in his blog yesterday:

"Remember, back in the 1980s the Greenspan Commission supposedly fixed Social Security’s finances for 75 years, that is, until 2060. Why, then, do most projections show the trust fund running out well before then? Not because life expectancy is rising — that was already built into the projections. No, the big reason is rising inequality, which has led to a growing share of income coming above the payroll tax cap, so that SS revenue lags behind overall compensation. And yet the conventional wisdom is that we should respond to a financing issue caused by rising inequality by slashing benefits, further increasing inequality."


I bet we could actually lower the FICA tax rate and secure Social Security for hundreds of years if we applied the tax to all income (even hedge fund managers earning billions of dollars in one year) dividends, interest, and capital gains.

intercst

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47126 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 2:36 PM
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Numbers of SSDI recipients have indeed increased since the onset of the Bush recession. It has nothing to do with "liberals," since SSDI administration and the court system have, of course, seen no material change as a result of the change in the White House.

The SSDI story is entirely about the economy. When people who once worked, despite disability, are laid off and can no longer find work, it should surprise no one that the numbers of SSDI applications goes up. When the employment situation improves, the numbers will stop going up (beyond the trend explained by purely demographic factors).

The income ceiling for Social Security taxation is presently at the 86th percentile of income. It used to be at the 90th percentile. That may seem like a small difference, but, in fact, putting the cut-off back to the 90th percentile would all by itself eliminate approximately one-third of the long-term actuarial shortfall in the Social Security system.

These numbers and conclusions come directly out of recent SS Trustee and CBO reports, available to anyone who cares to look them up.

PS: I have no intention of responding on any regular basis to gibberish emanating from the looney-tunes trolls. But I thought I'd offer this clarification, this time.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47127 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 2:44 PM
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intercst:"I bet we could actually lower the FICA tax rate and secure Social Security for hundreds of years if we applied the tax to all income (even hedge fund managers earning billions of dollars in one year) dividends, interest, and capital gains."

but would you be willing to compensate them when they retire, with say, 3 million a year in SS benefits?

If they contribute 10,000 times more than the average, then they should be able to collect at least 1000 times more in retirement, right?

Say a measely 3,000,000 a year in SS payments?

Oh....you're for wealth redistribution? see money, want money.

I doubt you'd be retired if you had to pay all the taxes you are talking about yourself.

and now look at you. Sold your 'dividend stocks' so you won't get socked with higher rates on dividends. Trying to make yourself have the least 'income' next year to get the cheapest rate possible. Trying to fly 'under the radar'....gotcha....

Typical lib saying 'tax the guy standing next to me, but not me!'....

If you are so envious of hedge fund managers, go be one yourself!....make your billions if you can.



t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47128 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 2:48 PM
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"The income ceiling for Social Security taxation is presently at the 86th percentile of income. It used to be at the 90th percentile. That may seem like a small difference, but, in fact, putting the cut-off back to the 90th percentile would all by itself eliminate approximately one-third of the long-term actuarial shortfall in the Social Security system. "

they keep jacking it up year after year.


Worse, the income tax rates never seem to be indexed, so you keep pushing folks into higher income brackets.....

and then you want to tax tax tax them with SS and Medicare (FICA 1 and FICA 1) 'taxes' or 'contributions'..makes no difference....

Always seemed that even when I got a raise, I'd be lucky to reach the end of the SS grab by DEc 1 if I was lucky....sometimes mid December, and I was a 'upper middle class' income earner.

The next year, I'd get a little raise, but the SS tax hike went up even faster.....so I'd still barely 'max out'......right at the end of the year.

In return, I'd get less and less money from SS when I retired when I looked at my statement. It wasn't going u as fast.


t.

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Author: alchook Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47129 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 4:35 PM
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Same for food stamps.

Food stamps are a bit different in that they are actually intended as corporate welfare for big agriculture, which is why they are part of those bloated farm bills so popular with Republicans.

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47130 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 5:00 PM
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"they keep jacking it up year after year."

Pretty much. It's based on the national average wage index. But the formula is the same as the one for indexing SS initial benefits. Details here: http://www.ssa.gov/OACT/COLA/AWI.html

Tele, I agree with you that payroll taxes hit upper-middle wage earners (roughly, 60th to 80th percentile) hard. That's not merely an opinion, it's a fact. And the reason for that is because the threshold needs to be adjusted UPWARDS.

When income earned on working is penalized to provide benefits to folks whose income comes from owning stuff (cap. gains, dividends, "carried interest," etc.), it results in exactly the squeeze to which you refer.

I am finally at the stage in my life at which most of my income stream will come from owning stuff rather than working. But that doesn't suddenly make it fair that folks like me (let alone Romney) pay taxes at a lower effective rate than bus drivers do.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47131 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 6:46 PM
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"Food stamps are a bit different in that they are actually intended as corporate welfare for big agriculture, which is why they are part of those bloated farm bills so popular with Republicans. "

Great...then lets chop that 'corporate welfare' by half. I'm all for it.

Are you?

and no...it's just buried in the farm bill each year.....it was 'small' but now it is the biggest part of the farm bill.

ANd 90% of the rest of the subsidies for not growing this or that, or for bonuses for growing this or that.....should be ENDED. Totally.

Now....

And every congress critter from farm states votes for bigger and bigger farm bills. Dem, independent, liberal, or Repub.




t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47132 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 6:56 PM
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"I am finally at the stage in my life at which most of my income stream will come from owning stuff rather than working. But that doesn't suddenly make it fair that folks like me (let alone Romney) pay taxes at a lower effective rate than bus drivers do. "

well, maybe you should be paying 13% tax on your retirement income? Why should you pay less tax that a bus driver does?

and why should your dividends in retirement and interest on your bonds and distributions from your 401K, on which you didn't pay SS (ie, the gain, or that which was over the threshold way back when).....not have the 13% SS tax taken out each year? Even if you are getting SS?


Hmmm..why why why?

Let's see...today, if you have dividends and interest....from your nest egg that you accumulated AFTER taxes..... to fund your retirement, you aren't taxed again for SS, and since it is YOUR money at risk, you pay lower cap gains and dividend rates.

Now, the guy working as a bus driver has a 100% guaranteed income......every month it comes regardless of the stock market or Ben Helicopter Bernanke running interest rates to zero and your income plummeting on CDs and bonds. He's guaranteed his 80K a year in NYC..maybe 120K /yr with overtime.

Now, you aren't...unless, of course, you're a retired NYC bus driver who will likely get a 100K/yr pension from the taxpayers.

And pensions do not have to pay SS either, right?


REmember, SS is a tax while WORKING to pay for your retirement.

It is on 'earned income'.....from working.....not from investing. You can't write off expenses against 'investment income'.

if you could, I'd be the first to have my 'home office' for 'investing' and take a nice $5000/yr home office deduction! ha!......So likely would intercst, and probably you too!..... but you can't.

ANd I'd deduct $20,000 a year in expenses as I go to 'stock holder' meetings around the country. California vacation -oops business trip to participate in stock holder meeting. And to Wash DC.....I'd stop by my sister's house. New England? good place to go.....and wow...FL.....nice place to visit. I could easily write off $20K a year.

But it's not....investment income is treated totally different from 'earned income'.......

and you'd be able to sock away money in a ROTH IRA too.....escaping taxation on the gains...forever....and ever.....


so give up your 'income envy'. You want to be a Romney...go into the investing business big time. Become a capital venture type. YOu've got enough to start. Why not risk it all? YOu could make billions!....

ah.....you don't want to? That's the difference between a Romney and someone with 'income envy'.


t.

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Author: alchook Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47133 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 7:05 PM
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Great...then lets chop that 'corporate welfare' by half. I'm all for it.

Are you?


I'm just here for the performance art.

You guys are all over Obama because of food stamps, apparently oblivious to the fact that five or six years ago the other side was making the attack on Bush. "Look what he's done! More people on food stamps than ever."

Meanwhile producers of wheat, corn, and soybeans are laughing all the way to the bank, knowing they're keeping America fat and sassy.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47134 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 7:12 PM
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"Meanwhile producers of wheat, corn, and soybeans are laughing all the way to the bank, knowing they're keeping America fat and sassy. "


And putting cruddy ethanol into gasoline, polluting it, reducing your fuel mileage by at least 10%, and spewing millions of tons of run off nitrogen fertilizers into the gulf of Mexico creating giant 'dead zones'.


And congress votes for more and more ethanol subsidies, and higher and higher engine killing percentages of polluting ethanol into fuel supplies.

greenie dreams and nightmares for the owners of AMerican engines of all types..from airplane engines to cars to outboard motors to weed whackers.....to generators.....all being ruined step by step by ethanol crap.


t.

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Author: JoshRandall Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47135 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 9:01 PM
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Krugman is a nutcase.

Income equality: Person A works hard in school, puts his nose to the grindstone and succeeds in his studies and works to be in the top 5% of his class, often sacrificing parties and other forms of entertainment. He gets a well-paying job.

Person B, a democrat, decide to skate through school, party and go out on OWS protests condemning the rich. He feels entitled to some of what they earn. He neglects his studies and is a "C-" student. He can't find a job because he rarely looks for work and when he does, he does not impress his potential employer as having any personal initiative or someone who would be an asset to their firm. He blames the university for not providing a good education and for his inability to find work. He looks for all the possible freebies he can get from the compassionate party of free stuff.

Income inequality. Such an injustice. That's why social security doesn't return what it promised.

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Author: putnid Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47139 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 11:23 PM
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MisterFungi is already one of your Favorite Fools.

I am finally at the stage in my life at which most of my income stream will come from owning stuff rather than working. But that doesn't suddenly make it fair that folks like me (let alone Romney) pay taxes at a lower effective rate than bus drivers do. - MisterFungi

Indeed yes.

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Author: alstroemeria Big gold star, 5000 posts Top Recommended Fools Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47140 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/30/2012 11:31 PM
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It wasn't Obama. It was the law firm of Binder & Binder, carefully marketing to people watching Fox News from the comfort of the scooters they got at The Scooter Store...
alchook


I'm in love...I'm alchook up!

=alstro, channeling Elvis

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47148 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 12:41 PM
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<<...today, if you have dividends and interest....from your nest egg that you accumulated AFTER taxes..... to fund your retirement, you aren't taxed again for SS, and since it is YOUR money at risk, you pay lower cap gains and dividend rates. >>

When I refer to income from "owning stuff," that does not include Social Security benefits. As you noted, SS benefits don't accrue from owning stuff.

As for the (tired) argument that dividends and cap gains shouldn't be taxed because the stuff that generates them was purchased with money that was already taxed once, I have always found that unpersuasive.

First, it's not always true ... at least not for the person enjoying the gains. A lot of it comes from inheritances, exec pay packages (stock options), and the like.

Second, wage income is also taxed multiple times. Last time I checked, most states have sales taxes. Gasoline has state and fed excise taxes. Etc. The key issue is not how many times something is taxed; it is what the total tax amounts to.

My preference would be consumption tax, not income tax. But Congress hasn't asked me yet to fix the mess.

And with that, I'm going for a New Year's Eve swim. (Hooray for semi-retirement!)

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47149 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 1:28 PM
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Fungi:"First, it's not always true ... at least not for the person enjoying the gains. A lot of it comes from inheritances, exec pay packages (stock options), and the like."

Yeah...tell me about how many Americans have CDs and stocks from 'inheritances'. You libs keep telling us about 'how broke most AMerians are when they die'.

Exec pay packages? Most stock options are taxed at full marginal tax rates when exercised. Full income tax. Zillions of dollars in tax. NO special deals on them.

and the like?


You've got a bad case of wealth envy.

Tell me, did intercst 'inherit' any stock? did he get fat stock options? and the 'like' Did he get any of it?

Of course not, and most early retirees did not either.


Just your silly wealth envy at work.



t.

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47150 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 2:08 PM
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<<Yeah...tell me about how many Americans have CDs and stocks from 'inheritances'.>>

The right question is not "how many." It is "how much" of total wealth gets passed on. And surely you know that the answer to that question is "tons."


<< You've got a bad case of wealth envy.>>

Obviously, you've never met my wife. Plus, we have a wonderful daughter, a paid-off house, a paid-off condo in paradise, our health, and more than enough money to live on for the rest of our lives. I envy no one. Really, truly.

And now, going for that swim, which was delayed briefly to await the non-news from the White House re fiscal "cliff."

Aloha.

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Author: Art53 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47152 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 2:58 PM
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"You've got a bad case of wealth envy." - tele


I definitely do. I'd love to know what it's like to be filthy rich. That's why I buy lottery tickets. Rich like Brad Pitt and Angelina Jolie or even Bill Gates rich. I'd love to know what it's like.


Art

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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47156 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 4:19 PM
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<<It's cratering because of all the people that Obama and the drones have put on SS disability.

It wasn't Obama. It was the law firm of Binder & Binder, carefully marketing to people watching Fox News from the comfort of the scooters they got at The Scooter Store, which "didn't cost me a dime" because Medicare paid for it in full!
>>


Sorry, but you can't blame the lawyers for taking advantage of a law that is now administered in a laz manner.


Social Security disability used to have quite tough standards that prevented abuse. That's now been abandonned.

Social Security disability has become another welfare scheme, providing long term unemployment benefits (for life).


Seattle Pioneer

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Author: SeattlePioneer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47157 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 4:22 PM
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<<I bet we could actually lower the FICA tax rate and secure Social Security for hundreds of years if we applied the tax to all income (even hedge fund managers earning billions of dollars in one year) dividends, interest, and capital gains.

intercst
>>



Oh, I think history would prove you wrong there, intercst.

No matter how much revenue was poured into the SS system, I think you could rely on Congress to expand benefits until the system was broke.

That is, after all, the history over the past seventy years or more.



Seattle Pioneer

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47164 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 8:11 PM
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Fungi:"And now, going for that swim, which was delayed briefly to await the non-news from the White House re fiscal "cliff.""

Obama blew up the deal with this demand for 'even more taxes' next year...

after a deal was just done and about to be signed off.


He pissed off so many that the deal unraveled. Ink not even dry and he was calling for more and more tax increases.

He just got a trillion ObamaKare tax increase starting in a few hours.


t.

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Author: sykesix Big gold star, 5000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47165 of 61159
Subject: Re: Social Security & Income Inequality Date: 12/31/2012 9:19 PM
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Author: telegraph | Date: 12/31/2012 8:11:18 PM | Number: 47164

Obama blew up the deal with this demand for 'even more taxes' next year...

after a deal was just done and about to be signed off.



Posted by Paul Kane on December 31, 2012 at 8:48 pm

President Obama and Senate Republicans reached a sweeping deal late Monday that would let income taxes rise significantly for the first time in more than 20 years, fulfilling Obama’s promise to raise taxes on the rich and averting the worst effects of the “fiscal cliff.”


http://www.washingtonpost.com/blogs/post-politics/wp/2012/12...

A deal is announced exactly 30 minutes after tele posts that Obama "blew up the deal."

Pretty awesome analysis by tele, no matter how you split it.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47168 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/1/2013 10:19 AM
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skye:"A deal is announced exactly 30 minutes after tele posts that Obama "blew up the deal.""

That deal was in the Senate..still hasn't passed the hat......and of course, Obamawama's threat of 'seeking even more revenues next year' is still his agenda.

Oh....and at $400,000 and up, it just catches a lot of folks who make less than those 'millions and billions' a year.

You'll see that most of that planned revenue won't just appear. It will disappear as ObamaKare taxes of a trillion dollars take effect...plus this tax. IF it passes the HOuse as is.


t.

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47169 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/1/2013 10:22 AM
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"According to the Congressional Budget Office, the last-minute fiscal cliff deal reached by congressional leaders and President Barack Obama cuts only $15 billion in spending while increasing tax revenues by $620 billion—a 41:1 ratio of tax increases to spending cuts.

When Presidents Ronald Reagan and George H.W. Bush increased taxes in return for spending cuts—cuts that never ultimately came—they did so at ratios of 3:1 and 2:1."


http://www.breitbart.com/Big-Government/2012/12/31/Fiscal-cl...



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Not to worry...the debt ceiling is coming up, and the 'reality factor' of the world financial community is ahead.

If this is the 'best deal', expect the value of your dollar to keep plummeting, until the world community decides the US is 'Greece' and reacts accordingly.

I"m sorry for your kids and grandkids. They've just been doomed by Obama's failure to actually address the time bomb deficit and debt.

t.

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Author: MisterFungi Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47185 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/2/2013 1:12 PM
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Tele, there are so many things wrong with you post (beginning with its opening cite of a breitbart.com blog, which cites a "tweet" as its source) that I won't even attempt to set the record straight, except to say that the vast majority of the increased revenues (relative to extending the status quo ante as of Dec. 31) come from the ending of the tax holiday on Social Security withholding ... which the GOP insisted on ending, not the Dems.

And, of course, if one really wanted "fiscal responsibility," the thing to do would have been to go over the "cliff" rather than even try to bargain with the Tea Bag-dominated House Goppers.

Look to cbo.gov if you want the primary information rather than some right-wing prismatic mash-up of it.

My New Year's resolution is not to respond to your every misstatement or misinterpretation. That would be a full-time job, and I am beginning my first year of semi-retirement.

Having said that, I suspect that if you and I sat down at a pub and talked, we'd find that we have more than a few things in common, including our deep concern for the structural gap in the federal budget.

Happy 2013 to all! Aloha!

Fungi (as in "Fun guy")

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Author: Donna405 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47548 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/29/2013 5:41 PM
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We must remember that a good portion of newly eligible SS Disability recipients are Iraqi and Afghanistan vets. Do you feel they are not entitled?

Donna

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Author: telegraph Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47553 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/29/2013 7:36 PM
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"We must remember that a good portion of newly eligible SS Disability recipients are Iraqi and Afghanistan vets. Do you feel they are not entitled?"


What?

Something like five million have signed up for SS Disability!....and likely NOT A ONE a vet.

Veterans have their own disability program. Not related to SS.


t.

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Author: Donna405 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47556 of 61159
Subject: Re: Social Security & Income Inequality Date: 1/29/2013 10:07 PM
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Yes, Vets have their own program, but many of them are also eligible foe SSD. In addition, there are quite a number of vets who fought in Vietnam, who now find themselves eligible for SSD due to recently diagnosed PTSD as well as the effects of Agent Orange. How do I know? I have two friends, one recently vdiagnosed with PTSD and the other diagnosed with Parkinson's due to exposure to Agent Orange.

Donna

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