Quote
Originally posted by: DonDiego
F'rinstance,
Solution 1 (addressing the shortage by altering one tax/expenditure):
" . . . starting today, raise Federal Income Taxes (individual and corporate) by 69%. Or we could, starting today, raise payroll taxes by 95%. Or we could immediately and permanently cut federal discretionary spending by 106%, which, of course, is infeasible. Or we could immediately and permanently cut Social Security and medicare benefits by 45%."
Solution 2 (addressing the shortage by altering several taxes/expenditures:
". . . we could simultaneously raise income taxes by 17%, raise payroll taxes by 24%, cut Federal purchases by 26%, and cut Social Security and Medicare benefits by 11%."
Ref: The Coming Generational Storm
DonDiego does not anticipate members of the present Congress or Administration to enact either of these solutions or a comparable variant.
DonDiego does not expect any Congress or Administration to enact any effective solution.
“The problem with socialism is that you eventually run out of other people's money.”
__Margaret Thatcher
Originally posted by: DonDiego
QuoteAhh, . . . but there are possible solutions:
Originally posted by: hoops2
Pj is referring to the system that along with SS has a $50t long term deficit
F'rinstance,
Solution 1 (addressing the shortage by altering one tax/expenditure):
" . . . starting today, raise Federal Income Taxes (individual and corporate) by 69%. Or we could, starting today, raise payroll taxes by 95%. Or we could immediately and permanently cut federal discretionary spending by 106%, which, of course, is infeasible. Or we could immediately and permanently cut Social Security and medicare benefits by 45%."
Solution 2 (addressing the shortage by altering several taxes/expenditures:
". . . we could simultaneously raise income taxes by 17%, raise payroll taxes by 24%, cut Federal purchases by 26%, and cut Social Security and Medicare benefits by 11%."
Ref: The Coming Generational Storm
DonDiego does not anticipate members of the present Congress or Administration to enact either of these solutions or a comparable variant.
DonDiego does not expect any Congress or Administration to enact any effective solution.
“The problem with socialism is that you eventually run out of other people's money.”
__Margaret Thatcher
There are other solutions. We could bring in millions of illegal workers and make them pay into the system but don't pay them any benefits and make them go home when they can't work anymore.
