Mike Johnson is coming for the Boomer generation
- Thread starter PabloNole
- Start date
War and Trump's ballroom what pay for themselves.
He's making a hell of an assumption that the GOP will still be in power.
not to be obstinent, but I heard him say "fix" not cut. And this is not new nor should it be a surprise. We've known for years that the SS trust needs to be fixed or there will be cuts to payout in 2032 (date might have changed since the last time I saw it). It should also not be a surprise that Medicare needs more funds or adjusted somehow. We're now coming into the "Big" years for boomers to reach Medicare age..That means more doctors visits and more expenditures...
We've had some discussions about ways to fix the social security trust on this board. So at least that shouldn't be new information.
How many of these do you think the GOP is willing to enact?
To prevent automatic benefit cuts when the Social Security trust fund faces depletion, lawmakers are focusing on raising revenue. Because the system is entirely funded by payroll taxes, the primary solutions aim to bring more money into the program rather than reducing monthly checks. [1, 2, 3, 4]
The most prominent tax and revenue-based fixes include:
- Lifting the Taxable Earnings Cap: Currently, there is a maximum limit on how much of a worker's income is subject to Social Security payroll taxes (e.g., $168,600 in 2024, which adjusts annually). Proposals suggest raising or entirely eliminating this cap so high earners pay taxes on all their wages. [1, 2, 3]
- Raising the Payroll Tax Rate: Another straightforward revenue boost is to slightly increase the overall Social Security payroll tax rate. This increase is typically proposed as a fractional percentage split equally between both the employer and the employee. [1, 2]
- Applying Taxes to Investment Income: Lawmakers have proposed applying a modest Social Security contribution to high-income earners' investment earnings or unearned income, which is currently exempt from Social Security taxes. [1]
How do you think that the Speaker plans to fix the issue? And why does he have to wait until next year?
Holy sh't, thank you. Why TF do we have to do this virtue signaling all the damn time? If they have a plan to actually fix it (they don't) then freaking do it already.
Any truly effective fix will not be popular with the general population,.. Will have to wait until after the midterms.
Because he knows he can’t get his own party in order so can’t do anything now, and next session he won’t have the House and can just blame Democrats.
GOP will return to the party of deficit reduction and balanced budgets and spending the moment they are out of power.
Certainly won't be tackled by Great Value Obama and his assortment of Dem clowns...
Yes, cutting military funding to fix Medicaid, Medicare, and Social Security will be unpopular to some.
Again, we have told them this would eventually happen, but people continue to ignore what’s in front of their faces. These aren’t entitlements. We have all paid for this our entire working lives and wealthy Republicans want to steal even more of our tax dollars. Giving it away to foreign countries like Israel and Argentina, billionaires. They don’t give 2 craps about any of us.
This guy has to be both sides bins from the Iowa board. The wealthy thank you for your service. Let’s just keep taking from the middle class. We have to sacrifice things that the wealthy NEVER have to worry about. People like you carry water for them. They love people like you.
I bet they roll it out in two weeks
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It’s been this way my entire adult life, and the base will believe all of it. Democrats MIGHT get 4 years to fix this damage and that won’t be fast enough. Independents will jump right back to people like Ted Cruz. It will take 2 decades to fix what Trump has done. SCOTUS has to be revamped because they are a tool for Trump and The Heritage Foundation.
Social Security shortfall expected to accelerate, with funds at critical low in 2032
The shortfall will be driven in part by a drop in immigration and Trump’s tax cuts, trustees say, resulting in trimmed benefits.He doesn't have to wait until next year.. The issue about social security was brought up by Senator Al Gore in 1989, I believe. So we've had numerous congresses that have failed to act.
I don't know how he plans to propose it, But for sure (IMO) we're going to have to raise funds - I'd imagine they'll try to keep a "donut hole" between the current salary amount, $184,500, and "$400,000. Then pick it up again.
They have discussed raising the age for the full retirement age amount.
The might also limit the maximum payout amount to retirees, I've heard $100,000 being bandied....
Maybe increase the payroll tax amount
There's enough for everyone to hate, but something needed to be done a long time ago and we've just kicked the can down the road. Of course, Johnson, could do the same and just let the new Democrat Congress be the bad guys
well listen to the recording. He uses the word "fix". There's nothing two sides about it....Boy do you just like to be opposite what I post or are you just disagreeable.
I have been poor and I have been wealthy, wealthy is better...I started a s a private E1, watched every penny, saved everything we could....so if I could do it everybody can....stop feeling sorry for yourself, take control...so I've also been on "both sides" of the wealth gap...
I take nothing from the middle class...in fact the middle class benefits from all the taxes I pay each year..
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If dems had won the election, it wouldn't have been made worse because they would have allowed the tax cuts for the richest people to expire and they wouldn't have deported millions of undocumented workers who contribute 26 billion to the fund for benefits they're legally barred from receiving. So let's just end the **** talk that Republicans do it better. They only make things worse and then hand it off to the Dems, who have to make the unpopular decisions so Pubs have something to blame them for.
Thank gawd. Newsom, Ferguson, and Kotek are going to fix the scourge of homelessness this year!
Hopefully we find a way to cut spending on these programs without additional fleecing of the American taxpayer.
If we do need additional funds, I re-raise my obesity surcharge tax to fund Medicare. Fats cost Medicare far more than non-fats. They should pay their fair share, both during their contribution years and benefit years.
Additional focus on age adjustments, benefit adjustments, healthcare delivery efficiency, fraud elimination, delinquent father financial enforcement, etc.
We should avoid additional taxes on responsible Americans using whatever creative solutions are at our disposal.
If we do need additional funds, I re-raise my obesity surcharge tax to fund Medicare. Fats cost Medicare far more than non-fats. They should pay their fair share, both during their contribution years and benefit years.
Additional focus on age adjustments, benefit adjustments, healthcare delivery efficiency, fraud elimination, delinquent father financial enforcement, etc.
We should avoid additional taxes on responsible Americans using whatever creative solutions are at our disposal.
Do you think that would be enough to bite into a 40 trillion dollar debt that was made infinitely worse by the tax cuts you previously received? Because whether you want to face it or not, it will have to be taxes that make it more manageable, not more tax cuts or increasing premiums for fats.
So, you’re in favor of non-vaccinated people paying higher premiums as well?
THIS IS THE CORRECT ANSWER.
He doesn't have to screw the Boomers, those old guys in congress can easily screw the younger generations because they won't be impacted for decades, until they try to retire.
Touché. Someone is definitely getting ****** by Dirty Mike.
We could have eliminated the $2 trillion deficit and keep the SS & Medicare trust funds solvent by simply avoiding $50 billion in Iran?
You and I have agreed on things in the past, so I’m curious (not looking to pick a fight) how we would determine “obese”. I could support a surcharge, but I don’t want to get sucked into the black hole of BMI.