ROMAN..ahem, Sam wanted to know where the money comes from ANSWER:your paycheck....Simple right?
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ROMAN..ahem, Sam wanted to know where the money comes from ANSWER:your paycheck....Simple right?
True, he does not, he's right.
Is this a private conversation or can anyone join in?
That reminds me, where is Vega? Haven't seen him around.
Actually, it comes from my (and yours) future paycheck, when the US government inevitably has to raise taxes for 8 years of Bush's follies. As it is now, we're borrowing money. America is the number one debtor in the world. Did you know that? Per capita debt is like half of per capita income. We're practically a third world nation.
Roman just read the thread and stop kissing sam's ass.
oh jeez here we go.
Actually that is exactly what I was trying to say, but then I realised that both you and Baron had no idea what I was trying to get at and I was too lazy to lead you guys around.
You're exeedingly clueless for 28. Are you able to make it in the real world?
Why is that?
I was just irritating Baron, I love it when he goes into multiple exclamation points
The point I was getting at is that with all the hype about Social Security going into a future crisis at some point to balance out the longer lifespans, early retirement age and national debt, all the money is not even held in trust for the current or future recipients.
So if at some point the benefits outweigh the taxes, inspite of having paid for SS, some of the people getting it are essentially on "welfare". It was a subtle point and I guess I knew neither the Baron nor you would get it.
6.2% is how much the payroll tax is that goes towards SS.
And professionals (as well as other people) are only taxed on declared income
Yup important point here. Future workers will actually be paying the SS for the retirees. Better make sure that there are enough of them and that they make good money, i.e. pay attention to education and outsourcing.
I was just irritating Baron, I love it when he goes into multiple exclamation points
The point I was getting at is that with all the hype about Social Security going into a future crisis at some point to balance out the longer lifespans, early retirement age and national debt, all the money is not even held in trust for the current or future recipients.
So if at some point the benefits outweigh the taxes, inspite of having paid for SS, some of the people getting it are essentially on "welfare". It was a subtle point and I guess I knew neither the Baron nor you would get it.
6.2% is how much the payroll tax is that goes towards SS.
And professionals (as well as other people) are only taxed on declared income
Maybe we didnt "get" your point because your only raising it now. I know little aboout SS except what we explained to you in the other thread.
You dont even know what your talking about, you and Sam should sell used cars.
In the US, social security is a social insurance program. Unlike a regular trust fund the government uses current payroll taxes to pay current retirees and any excess is utilised for non-benefits related purposes (ie for government spending). So the money YOU pay today is paying the retirees today. Your income will come from future workers who will pay into the system and provide you with SS.