McCarthy says it out loud - cut SS and Medicare

homer · Jun 1, 2023

GatorRade said: ↑

I know how you feel. Indeed, the last thing we should want is one group of people being allowed to exploit everyone else. I don’t know that this is what’s happening though. It’s not really the boomers fault that their generation in larger than those that came later, any more that it’s gen z’s fault that it’s smaller than the boomers. And I’m guessing the boomers personally wouldn’t gain much personal satisfaction by learning Gen X will get lower retirement benefits.

I’m not arguing that we should cut SS and Medicare, but I think it shouldn’t be closed off for discussion. If we decide that it’s essential, or unacceptable to cut benefits to only younger people, then I think we need to just find a way to fund it. The trouble is, of course, that this “we” isn’t a single voice.
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Covid took a lot of elderly lives. Had to help SS.

No one should collect SS if they have an additional income of a set amount. Should that change as time goes by it can kick back in.

BobK89 · Jun 1, 2023

citygator said: ↑

As someone a long way from SS I could argue that if you haven’t paid your 35 trillion dollar debt before you retire why should you be able to collect a piece of the 5 trillion you supposedly put away? You are leaving the rest of us 30 trillion in the hole. I swear you boomers.

Having said that, SS is just a few tweaks from being solid for a long time.
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Not a Boomer…Gen X.

ncargat1 · Jun 1, 2023

G8trGr8t said: ↑

Do you think people with assets in excess of $10M need to collect SS? Is there any net worth where the individual could sacrifice for the common good? I see people living in $5M+ homes driving Bentley's getting botox shots monthly acting like they are going to keel over if their SS is threatened
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If they paid into SS for 30 plus years, why not?

I would propose an additional tax credit for those people willing to waive their SS benefit for that year.

ncargat1 · Jun 1, 2023

slayerxing said: ↑

It's just so frustrating, because it's the existence of the large generation of boomers in the first place that is essentially breaking the system. So they get all the benefits, but then break it, so now the next generations get screwed. Just one last F U from the boomers before they fade away. So frustrating.
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You know, there is a lever that can easily be thrown to mitigate some of the imbalance caused by the large "boomer" generation being paid for by the smaller generations that followed.

Add more people paying into the system now. You know, like the people Trump/DeSantis/MAGA all hate.

In addition to tax return filings, officials estimate that undocumented immigrants also contribute billions to Social Security annually through payroll tax deductions. In 2010, for example, the Social Security Administration estimated that payments from unauthorized workers accounted for about $12 billion in tax revenue for Social Security.
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Undocumented immigrants are paying their taxes today, too | CNN

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