How are we going to pay for all this shit?

[Why_Yes_I_Do]

Originally Posted by WTF

... Q probably told him SS was a Ponzi scheme...

Let check the definition of Ponzi Scheme at Wikipedia:

A Ponzi scheme (/ˈpɒnzi/, Italian: [ˈpontsi]) is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors...

In case actual facts matter; it use to take 3 workers to pay the way for a single retiree. My last read is that it is now 9+ persons per retired worker.

Obviously, one (not a bright one) could argue that the "investors" are not 'lured' but 'mandated' to participate. But the math still holds true and the definition fits.

In other news, ya might wanna check on that transparency. How many IOUS are on record from agencies borrowing the money. And if'n you think we can't default, like most of the rest of the world these days, you would be wrong. You just can't keep spending money on stupid shit, say like Ukraine, while your own country is heading down the shitter.

[texassapper]

Originally Posted by Why_Yes_I_Do

You just can't keep spending money on stupid shit, say like Ukraine, while your own country is heading down the shitter.

Democrats: Hold my beer....

[WTF]

Originally Posted by Why_Yes_I_Do

Let check the definition of Ponzi Scheme at Wikipedia:
In case actual facts matter; it use to take 3 workers to pay the way for a single retiree. My last read is that it is now 9+ .

You evidently do not understand how SS works and what a Ponzi scheme is.

SS has been fully funded.

I could lift the cap on wages and add another 20 years to it tomorrow.

They will fix it like Reagan did...when it gets close to not to be fully funded. So somewhere in the 2030's. Don't get your panties in a wad over SS.

Just try and make sure you do not depend on it for your entire retirement

[The_Waco_Kid]

Originally Posted by WTF

You evidently do not understand how SS works and what a Ponzi scheme is.

SS has been fully funded.

I could lift the cap on wages and add another 20 years to it tomorrow.

They will fix it like Reagan did...when it gets close to not to be fully funded. So somewhere in the 2030's. Don't get your panties in a wad over SS.

Just try and make sure you do not depend on it for your entire retirement

this is a historic moment! WTF actually said Reagan did something good. let's savor this moment.



bhahhhaaaa

[WTF]

Originally Posted by The_Waco_Kid

this is a historic moment! WTF actually said Reagan did something good. let's savor this moment.



bhahhhaaaa

He could have done something great had he separated SS from discretionary spending.

You realize I'm bragging on him for RAISING taxes?

The ying to that yang is that it gave the illusion of smaller deficits than actually were.

[The_Waco_Kid]

Originally Posted by WTF

He could have done something great had he separated SS from discretionary spending.

You realize I'm bragging on him for RAISING taxes?

The ying to that yang is that it gave the illusion of smaller deficits than actually were.

he raised payroll tax for social security, one specific tax for a specific purpose.


when he was Governor of Kaliformica he raised taxes for more money for public schools. his advisors told him it would be unpopular and might hurt his re-election chances. Reagan told them "I'm doing this because it's the right thing to do".


as we all know the public realized Reagan was right and he won a second term in a landslide victory.


Kaliformica could use a guy like Ronald Reagan again.


bahahaaa

[Trumptester]

just you have To pay.

[WTF]

Originally Posted by The_Waco_Kid

he raised payroll tax for social security, one specific tax for a specific purpose.





Kaliformica could use a guy like Ronald Reagan again.


bahahaaa

None of that nonsense addressed my point and evidently you haven't a clue with how much surplus taxes Cali is going to jave!

[The_Waco_Kid]

Originally Posted by WTF

None of that nonsense addressed my point and evidently you haven't a clue with how much surplus taxes Cali is going to jave!

son, you are proof there is no arguing with stupid.


Is the state of California in debt?

In the fiscal year of 2021, California's state debt stood at about 143.73 billion U.S. dollars. By the fiscal year of 2027, this is expected to increase to about 188.54 billion U.S. dollars.May 31, 2022


California's Fiscal Outlook
We find the budget situation has improved considerably relative to the June budget act with an estimated $26 billion windfall in 2021-22. However, the state also faces an operating deficit beginning in 2021-22 and throughout the outlook period, growing to $17 billion by 2024-25.

[Why_Yes_I_Do]

Originally Posted by WTF

You evidently do not understand how SS works and what a Ponzi scheme is....SS has been fully funded...

Let us test your theory with math
If SS is fully funded (it ain't), that means we could drop all the youngin's from it entirely, i.e. no longer a contributor or participant or recipient and there would be enough $$ to cover the remaining retires for the next 20 years or so until the last one is dead.


Ya think that will work out?

[texassapper]

Originally Posted by Why_Yes_I_Do

Let us test your theory with math
If SS is fully funded (it ain't), that means we could drop all the youngin's from it entirely, i.e. no longer a contributor or participant or recipient and there would be enough $$ to cover the remaining retires for the next 20 years or so until the last one is dead.


Ya think that will work out?

LOL Fully funded for a libtard means "We promised to spend other peoples money". even if they haven't been born yet.

Fully funded is just another way of saying enslaved.

[Why_Yes_I_Do]

Originally Posted by The_Waco_Kid

...We find the budget situation has improved considerably relative to the June budget act with an estimated $26 billion windfall in 2021-22. ....

Anyone else curious to know how much of that is from PPP and other Federal covid related $?

[WTF]

Originally Posted by Why_Yes_I_Do

Let us test your theory with math
If SS is fully funded (it ain't),t?

I said "SS has been" it was running huge surpluses. The fact that you do not understand how that instead of having actuaries making periodic adjustments like a proper insurance company would....we instead wait until it will not pay full benefits. We then do what Reagan did....which was raise the tax and make adjustments. For instance recipients used to not pay taxes on this benefit.

Originally Posted by Why_Yes_I_Do

no longer a contributor or participant or recipient and there would be enough $$ to cover the remaining retires for the next 20 years or so until the last one is dead.


Ya think that will work out?

I do, read the above paragraph

[Why_Yes_I_Do]

[WTF]

Originally Posted by The_Waco_Kid

son, you are proof there is no arguing with stupid.


Is the state of California in debt?

In the fiscal year of 2021, California's state debt stood at about 143.73 billion U.S. dollars. By the fiscal year of 2027, this is expected to increase to about 188.54 billion U.S. dollars.May 31, 2022


California's Fiscal Outlook
We find the budget situation has improved considerably relative to the June budget act with an estimated $26 billion windfall in 2021-22. However, the state also faces an operating deficit beginning in 2021-22 and throughout the outlook period, growing to $17 billion by 2024-25.

So California is now able to run deficits? Hmmmmm....also Cali is projected to have almost a 200 billion surplus this year.

https://www.investopedia.com/ask/ans...l%20government.


State and local governments do not have the economic ability to run fiscal deficits to encourage aggregate demand like the federal government