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GOP: Social security retirement payments to the rich should be cut to pay for AfPak war

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Filed: Timeline

Boehner had praise ... for Obama’s troop surge in Afghanistan and stepped-up drone attacks in Pakistan.

Ensuring there’s enough money to pay for the war will require reforming the country’s entitlement system, [House Minority Leader] Boehner said. He said he’d favor increasing the Social Security retirement age to 70 for people who have at least 20 years until retirement, tying cost-of-living increases to the consumer price index rather than wage inflation and limiting payments to those who need them.

"We need to look at the American people and explain to them that we’re broke," Boehner said. "If you have substantial non-Social Security income while you’re retired, why are we paying you at a time when we’re broke? We just need to be honest with people."

http://www.bostonherald.com/news/us_politics/view.bg?articleid=1264679

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Filed: Timeline
Boehner had praise ... for Obama’s troop surge in Afghanistan and stepped-up drone attacks in Pakistan.

Ensuring there’s enough money to pay for the war will require reforming the country’s entitlement system, [House Minority Leader] Boehner said. He said he’d favor increasing the Social Security retirement age to 70 for people who have at least 20 years until retirement, tying cost-of-living increases to the consumer price index rather than wage inflation and limiting payments to those who need them.

"We need to look at the American people and explain to them that we’re broke," Boehner said. "If you have substantial non-Social Security income while you’re retired, why are we paying you at a time when we’re broke? We just need to be honest with people."

http://www.bostonherald.com/news/us_politics/view.bg?articleid=1264679

He's got a point. To a point. This really is the dismantling of SS. Except for paying into the system, that is.

Good Luck with that campaign in November, John.

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One needs to look at what Social Security is without all the emotion and just stick to facts.

  • It's a lifetime annuity program which you have to contribute to. Even if you're 30 years old and have terminal cancer. You still have to contribute to it.
  • It's an annuity program which has zero choice in how and where to save money for future use. You have to use the government's social security system.
  • It's a regressive tax on wages to a maximum limit. Therefore it's hardest on the poor.
  • The poor and middle class pay taxes to support everybody else including the rich. Donald Trump can collect a SS check paid for by the rest of us in the future (assuming we're younger than he is)
  • It has nothing to do with saving for your future and everything to do with the young who are working subsidizing the old, who are not working.
  • Curing cancer would be the worst thing that could happen to Social Security.

Now having said that, is there anybody out there who thinks we should get rid of IRA's and Roth IRA's? Get rid of 401k plans too. And instead pay more into Social Security? I don't think so.

Let's face it. The revenue for SS is going down and the future costs are going up. We have to raise the age rate or we have to pay people less in the future. The third option is to pay certain people less or none at all. Ask which one is the fairest and you'll get three different answers. The 75 year old would say raising the age rate to 70 is the best option and to leave the payment amount schedules as is. The young person wants the payment amounts lowered but the age rate the same. The poor person wants the rich person to be exempt from collecting but not exempt from paying.

I see no good way of fixing while maintaining the system as it stands. Could raise the income rate at which people are taxed to unlimited like Medicare is. But this brings up the question of why would you tax million dollar salaries for a supposed retirement program aimed at that particular person's benefit? In Canada, the Canada Pension Plan stops taxing you around $42,000 of income/year. It's already $100,000 in the US. Raising this changes it from a redistribution of income not just from young to the old. But also from the rich to the poor.

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Filed: Timeline

If you have no US income for one. Also I believe you can opt out if your an employee of a local government and they have a similar system.

i can see the no US income. but, i've never heard of the opt out. i thought it was mandatory for everyone working in the US... idk you might though. if someone didn't pay in but, does the voluntary for 10 qtrs...what kind of benefits would they be entitled to at retirement age?


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Filed: K-3 Visa Country: Russia
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It isn't Social Security itself, but the Medicare and Medicaid trust funds that are in the biggest trouble. We took a baby step toward healthcare reform in the face of the most unpatriotic, vitriolic, often outright untrue attacks and lies perpetrated by the GOP and their allies. We'll need to revisit this issue again in order to really control healthcare costs.

Boehner complains that "we're broke" but his ally in the Senate from MA just balked at a relatively small tax on banks to make them pay for the regulation and oversight that everyone who lived through 2007 knows they need. The GOP is very happy, though, to borrow money to pay for that oversight rather than tax the perps.

The Polluter Pays Principle is sound and should extend to banks and other fat cats who made out like bandits under Bush II.


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Filed: Other Country: Afghanistan
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Here is the link to figure it out: http://www.ssa.gov/pubs/10070.html

A little way down it says this:

You are a government worker with a pension. If you also get or are eligible for a pension from work where you did not pay Social Security taxes (usually a government job), a different formula is applied to your average indexed monthly earnings. To find out how the Windfall Elimination Provision (WEP) affects your benefits, go to www.socialsecurity.gov/gpo-wep and use the WEP online calculator. You also can review the WEP fact sheet to find out how your benefit is figured. Or, you can contact Social Security and ask for Windfall Elimination Provision (Publication No. 05-10045).

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Filed: Other Country: Israel
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When I started working for the federal government in 1973, we were exempt from Social Security, so anyone who started before the cut off in the late 1970s, I believe, didn't pay in. If you were in the government retirement system, left the government and came back to it, you still have the option, like I do, to stay opted out of SS.

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Filed: AOS (pnd) Country: Canada
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Boehner is a fool. Hopefully no one buys this #######.

The idea and fact that SS funds are being used for anything other than SS is horribly wrong and something that should have never been taking place at all.

The problem with social security is it get lumped into the General fund (purposefully mind you as SS was not for "retirement" it was to pay the interest on our debt for WWII).

Things like this irk the hell out of me when politicians say stupid ####### that has no place if they understand the intent and purpose of the program.

If you're rich, poor, whatever, it should not matter. If you paid into it, you should get whatever you put in and not a penny more! PERSONAL RESPONSIBILITY has been tossed so far out the damn window it's ridiculous these days.


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Filed: Country: England
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It isn't Social Security itself, but the Medicare and Medicaid trust funds that are in the biggest trouble. We took a baby step toward healthcare reform in the face of the most unpatriotic, vitriolic, often outright untrue attacks and lies perpetrated by the GOP and their allies. We'll need to revisit this issue again in order to really control healthcare costs.

Boehner complains that "we're broke" but his ally in the Senate from MA just balked at a relatively small tax on banks to make them pay for the regulation and oversight that everyone who lived through 2007 knows they need. The GOP is very happy, though, to borrow money to pay for that oversight rather than tax the perps.

The Polluter Pays Principle is sound and should extend to banks and other fat cats who made out like bandits under Bush II.

The biggest factor in the healthcare "reform" scam was that the President didn't have a plan of his own and didn't use the majority he had in both Houses to steamroll through an undiluted single-payer system.

Instead, he let the Democrats' vested interests hamstring any chance of a decent proposal, all the while rigging so many opt-outs, paybacks and sweetheart deals just to pass the damn thing, that "healthcare" got lost in the mix.

And the GOP? They couldn't have stopped him if they had wanted to, before Ted Kennedy passed away. So quit blaming the GOP for something the Democrats managed to screw up all by themselves. And all the while, this country will suffer for the deals they made just to pass something. Just not the right thing. :angry:


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Filed: AOS (apr) Country: Philippines
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It isn't Social Security itself, but the Medicare and Medicaid trust funds that are in the biggest trouble. We took a baby step toward healthcare reform in the face of the most unpatriotic, vitriolic, often outright untrue attacks and lies perpetrated by the GOP and their allies. We'll need to revisit this issue again in order to really control healthcare costs.

Skip the unpatriotic ####### as I'm going to pay for your healthcare and others whether I want to or not. Blaming the GOP is beyond silly as they had no hand in crafting a crappy bill that didn't didn't do anything to control costs which most supporters assumed would be an outcome. The Dems talked about high healthcare costs to con the public then did nothing about it.


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