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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (516084)9/25/2009 11:22:13 AM
From: i-node1 Recommendation  Read Replies (2) of 1579195
 

FICA ain't going away Inode. The system operates as designed... with current workers partially supporting those that are retired.

You can play games with different accounting methods if you want but the fact is that SS funding has a small problem at the margin.

It certainly does NOT operate "as designed". It was designed to be FULLY FUNDED from the social security tax. FDR HIMSELF said that Social Security would have been a failure if it required funding from general tax revenues, which it most undoubtedly does.

$15 ($18T as of '09) Trillion is NOT going to be raised by some kind of tax increase "at the margin".

What you do apparently can't get through your skull is that $12 Trillion is what it would take TODAY. See unfunded liability summary below:



Now, here is the percentage of income tax revenue that will be required to fund these programs into the future:



As you can see, the programs become totally untenable by 2030 demanding HALF of the income tax revenue we can raise. This is not a problem "at the margin".

You don't understand the basics here. I've explained it 100 times in this thread and you still don't understand it. Or you choose not to (more likely).

It doesn't matter. The course is set and there is little to be done about it. But we COULD, at least, start showing some fiscal responsibility within our government.

Democrats and Republicans are killing the country by not looking at the problems we face realistically and addressing them. The demagoguery on the health care issue is but one example. Obviously, if we try to provide free health care to another 15, 30 or 45 million people, that is just going to shorten the amount of time which we have to deal with these major financial issues.

BTW - note that the only "unfunded liability" that actually DECREASED is Bush's Medicare Part D, which the Left (and you personally) have claimed doesn't work. The reality is that we can't afford it, but it works better than any of these other programs, at least it has thus far.
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