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In reply to the discussion: Let's try this again: No, Social Security is NOT insolvent. [View all]wiggs
(7,788 posts)6. you are correct. Plus, where some of this meme came from was when FICA revenues fell short of
outlays last year....SS wasn't taking in as much as it was putting out. This was foreseen a long time ago, of course, but that didn't stop many from deceiving others about the state of SS.
What doesn't get enough mention is that SS planners in the 80's could not have foreseen that middle and lower income wages would become stagnant and that most of the income growth over the last 30 years would go to the upper 10%, where income is not taxed for SS past 106,000.
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It would have been helpful if the President hadn't idiotically made deficit hysteria..
girl gone mad
Dec 2011
#1
Who would trust the administration to protect Social Security at this point?
girl gone mad
Dec 2011
#20
No one has argued that? There have been DOZENS of assertions of that just on DU.
TheWraith
Dec 2011
#36
Thank you. It really irked me that every Republican presidential candidate said "we all know ...
Scuba
Dec 2011
#4
you are correct. Plus, where some of this meme came from was when FICA revenues fell short of
wiggs
Dec 2011
#6
Well, THAT should stop Republican demagoguery and fear-mongering on the subject
gratuitous
Dec 2011
#14
Our reserve currency status is not very important in the scheme of things.
girl gone mad
Dec 2011
#22
EXACTLY!!! It pure GOP bull shit JUST like the GOP under the Bush administration put the USPS
Justice wanted
Dec 2011
#23
At some point government income is going to have to exceed government expenditures..
Fumesucker
Dec 2011
#28
Investing the social security trust fund in government securities was a stupid move
Taitertots
Dec 2011
#29
Your plan has to assume that income taxes on the rich could have been raised instead
muriel_volestrangler
Dec 2011
#31
The money was taken from the workers to support huge tax decreases on the wealthy
Taitertots
Dec 2011
#39