How America Killed Its Middle Class

[Pio1980]

Originally Posted by piece-itpete

It was so the program (SS) had enough funds to cover the inevitable time when it would be paying out more than it took in - when the boomers started to retire. Just reality.

I'm not saying I like you guys, don't get the wrong idea. Nowhere near cute enough

Pete

Hey! C'mon, you saw my cute mug in the other thread.

Sent from my SCH-I605 using Tapatalk

[Tom Joad]

Originally Posted by piece-itpete

I realize in some cases parents have bought new modest cars for their kids, fine.

Pete

Sure Pete.

Single mothers waiting tables at I-Hop just buy their kids new Honda Civics to go off to college in.

[merrylander]

Near as I recall when I started work down here no one said "Hey Rob, we have this neat thing called SS, want in?" No they just grabbed a big chunk of my salary and said it was for FICA. Then they said if you can stay employed for over forty weeks (or was that months?) we will give you some money at 65. Well I worked until 73 ut they insisted that I take the payout at 65 which of course put me in the highest tax bracket so they got it all back and a bigger chunk of my regular salary as well..

So you don't want to pay for someone's college education? Well I don't like paying $3500 a year for other people's kids to go to school but I don't get a choice. Two year 2000 Impalas in the garage if a 14 year old car is a luxury. So am I going to keep taking my SSI- damn right I am and Paul Ryan can go perform an impossible sex act

[donquixote99]

Originally Posted by piece-itpete

Reagan fixed SS by (in my case 'cause I remember) tripling FICA withholding to cover you guys (the boomers). Of course being Congress they took the extra money and used it like it was permanent income, being idiots, or am I repeating myself. Now they've got to cover the boomers AND the increased permanent spending they used it for in the first place. Idiots - would be us for letting it happen. That's a bipartisan screwing btw.

Dave it's the time in my case. I save a boatload doing repairs and I wouldn't mind if it wasn't every single flerkin spare moment!

John, are we going to come up with 400k for every person in the US to cover what often appears to be continuing high school?

Pete

What Congress, and Reagan (or at least some smart people who worked for him) knew, but you don't: that trippled FICA was just a highly-regressive income-tax hike. The big 'surplus' generated by FICA tax over all thiose years wasn't gonna do shit for social security.

By law, since day one of the social security program, any receipts not needed for current benefits have gone into the general fund and been instantly spent. Any party that blames the other for this is blowing smoke. It's the way the program is. The federal government does not have any long-term savings accounts (and it would make no sense if it did, given the debt being carried.)

All benefits will always be paid out of current FICA taxes, or out of other current taxes, or borrowing. As the SS 'trust fund' is 'cashed-in,' the cash must come from one of these sources.

The claim that increases in FICA taxes were to 'fund future benefits' was a lie.

[bobabode]

No more weekends off for Pete. I think he sneaks in a dose of Faux News when his SO isn't looking...

[Tom Joad]

Originally Posted by donquixote99

What Congress, and Reagan (or at least some smart people who worked for him) knew, but you don't: that trippled FICA was just a highly-regressive income-tax hike. The big 'surplus' generated by FICA tax over all thiose years wasn't gonna do shit for social security.

That's pretty obvious when you look at the timeline.

The Gipper pushes through big increases in the Social Security Taxes in 1983:

http://www.ssa.gov/history/1983amend.html

and then immediately starts working on big tax cuts for the rich which he gets passed in 1986.

http://en.wikipedia.org/wiki/Tax_Reform_Act_of_1986

A classic transfer of the tax burden from the top to the bottom.

It doesn't take a Rocket Scientist to figure that one out.

[Tom Joad]

Originally Posted by piece-itpete

Tom the Dems I grew up around were anything but girly men, union types mostly.

And therein lies a lot of the problem Pete. We no longer have enough Dudes like that. Check this chart out:



Union membership is way way down.

And who are todays Union members?

Mostly Civil Service types.

School Marms and dweebie little cube rats.

We need old school union types.

Guys with slab muscle arms, tattoos, and lead filled ball bats ready to go in and bust some heads. Guys that will put the fear of God into the Robber Barrons.

[4-2-7]

Originally Posted by Tom Joad

And therein lies a lot of the problem Pete. We no longer have enough Dudes like that. Check this chart out:



Union membership is way way down.

And who are todays Union members?

Mostly Civil Service types.

School Marms and dweebie little cube rats.

We need old school union types.

Guys with slab muscle arms, tattoos, and lead filled ball bats ready to go in and bust some heads. Guys that will put the fear of God into the Robber Barrons.

How do we know anything is going way way way down. No link and a unsearchable chart. Did you break out you color crayons today.

[Tom Joad]

Originally Posted by 4-2-7

How do we know anything is going way way way down. No link and a unsearchable chart. Did you break out you color crayons today.

Per your request.

http://www.huffingtonpost.com/2013/0...n_3948543.html

[4-2-7]

Originally Posted by Tom Joad

Per your request.

http://www.huffingtonpost.com/2013/0...n_3948543.html

https://twitter.com/CFair1

Ok