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#1 Social Security To Go Into Red Due To Stimulus Plan
01-30-2009, 11:41 PM
- Join Date
- May 2008
- Locked in a Dungeon, being tortured and LOVING IT!
WASHINGTON, Jan. 29 /PRNewswire-USNewswire/ -- The Congressional economic stimulus plan would place the Social Security Trust Fund into deficit for the first time ever next year, if the current economic stimulus package is passed by both Houses of Congress.
Social Security is funded by payroll taxes that employees and their employers pay into the system. Money that comes into the Social Security Trust Fund is used to pay the Social Security checks retirees receive each month, and since the creation of the Trust Fund in 1983, the program has always had more money coming in than going out.
However, that may change as soon as next year, due to a proposed refundable payroll tax credit which would offer workers a refund on their portion of Social Security taxes, meaning there would be insufficient cash to pay benefits. The $145.3 billion refundable payroll tax credit proposal would give individual workers up to $500 and couples up to $1,000.
http://news.yahoo.com/s/usnw/2009012...ever_next_yearKlaatu barada nikto
01-30-2009, 11:50 PM
Let it. This is what America voted for. Let America reap what it sowed.
01-31-2009, 12:13 AM
My pension should be safe, so far.
01-31-2009, 12:29 AM
Well, I can look forward to working until I'm on death's door. Even my investments are going south now.
THANKS, GOVERNMENT A-HOLES!"Is life so dear or peace so sweet as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take, but as for me, give me liberty, or give me death! "
- Patrick Henry
01-31-2009, 12:45 AM
Rob Peter to pay Paul creates two losers.
The administration hasn't been in power 2 weeks and the socialists are screwing everyone except themselves, since they are exempt for SS."If every poor man is to come here and start requesting money for all his children, the applicants will never be satisfied and the nation's finances will collapse." Emperor Tiberius: Tacitus:Annals
01-31-2009, 02:37 AM
I never planned on using SS to retire anyway. I just turned 25; that pyramid scheme will be broke LONNNNNG before I'm old enough to retire."Don't vote. It only encourages the bastards." -PJ O'Roarke
01-31-2009, 10:37 PM
- Join Date
- May 2005
01-31-2009, 11:51 PM
- Join Date
- May 2008
The Social Security System was supposed to be a fund in which there was actual money. However, the Democrats decided over 40 years ago to rob, steal and spend it. There are only IOU's, worthless paper, in that fund. This is the biggest fraud ever perpetrated on Americans that pay S.S. taxes.
Buddy Roemer, ex- Governor and a Repub. convert, wanted to take all the money out of the LA Retirement System's Fund, spend it and put IOU's in it. Thank goodness, the legislature voted that crap down. The sorry bastard then tried to put one over on NY bankers/bond rating by telling them that 1 per cent of the sales tax was going to pay down the debt. The money was going in the front door and coming out the back into his slush fund. That did not work either cause I wised them up when they called for information. The state's bond ratings did not improve with his little crooked plan. I guess I could have gotten fired for that. My opinion of all politicians is about as low as you can go.
02-01-2009, 07:34 AM
Face it California is "under water" because of those illegals who pay nothing into the system and the refusal of those in control to do anything against them. The state is in the red because of the services it provides in which they do not have the money to pay for.
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