|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
ballsalsa said:
Quote:
hostileuniverse said: Sure, if social security taxes were allowed to be invested, instead of put into the general fund of greedy politicians, the elderly would come out much better off.
You can yap all day about the failures of "charity" but what you'll never admit to is the failure of govt in this instance. The money that was supposed to be used for social security, was raided and spent. It was a betrayal of the American people. The money being given out today is being borrowed from the taxpayers who haven't even been born yet.
Jesus christ, how many times do we have to go over this? SSI has a trust fund that is REQUIRED to invest in US Treasury products. The money isn't just put into a "general fund". The money being paid out today is being paid from that trust fund, not by borrowing anything from anyone.
How much is in that "trust fund"?
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
ballsalsa said: at the end of FY2014, the OASI trust fund balance was ~2.7 trillion dollars
https://www.ssa.gov/oact/STATS/table4a1.html
You're hilarious.
Are you interested in purchasing any bridges?
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
ballsalsa said: i assume that you are implying that the government accounting is fraudulent. do you have some other numbers to dispute them with?
You do realize that the "trust fund" only exists in theoretical terms?
It's a pay as you go system. http://www.newsmax.com/Finance/StreetTalk/alan-greenspan-national-debt-social-security-trust-fund/2015/06/07/id/649228/
http://fee.org/articles/the-myth-of-the-social-security-trust-fund/
"any leftover SS revenue finances general government operations"
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
The point being is that SS is a pay as you go system, it works as long as people continue to work and contribute to the SS payroll tax.
The surpluses from years past has already been spent, that's OK, even when SS has a negative cash flow year like it did 5 years ago, the government just goes into the general funding to make up the difference. Or at the end of the day, the government will just issue debt to pay for the shortfall.
There is no real "trust fund" of $2.3 trillion dollar, politicians of the past 50 years were never that fiscally responsible.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
Falcon91Wolvrn03 said:
Quote:
hostileuniverse said: http://taxfoundation.org/article/details-and-analysis-donald-trump-s-tax-plan
Quote:
Trump’s tax plan would substantially lower individual income taxes and the corporate income tax and eliminate a number of complex features in the current tax code. Mr. Trump’s plan would cut taxes by $11.98 trillion over the next decade on a static basis. However, the plan would end up reducing tax revenues by $10.14 trillion over the next decade when accounting for economic growth from increases in the supply of labor and capital. The plan would also result in increased outlays due to higher interest on the debt, creating a ten-year deficit somewhat larger than the estimates above. According to the Tax Foundation’s Taxes and Growth Model, the plan would significantly reduce marginal tax rates and the cost of capital, which would lead to an 11 percent higher GDP over the long term provided that the tax cut could be appropriately financed. The plan would also lead to a 29 percent larger capital stock, 6.5 percent higher wages, and 5.3 million more full-time equivalent jobs. The plan would cut taxes and lead to higher after-tax incomes for taxpayers at all levels of income.
Was your post in support of Donald Trump or against?
"the plan would end up reducing tax revenues by $10.14 trillion over the next decade" "The plan would also result in increased outlays due to higher interest on the debt, creating a ten-year deficit somewhat larger than the estimates above."
So Trump wants to raise the Federal deficit by over $10 trillion. NO THANKS.
That's not Trump's analysis of the outcome of his tax plan. So it's disingenuous to suggest "Trump wants to raise the Federal deficit by over $10 trillion".
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
Falcon91Wolvrn03 said:
Quote:
qman said: The point being is that SS is a pay as you go system, it works as long as people continue to work and contribute to the SS payroll tax.
Do you think people will stop working and paying into SS? 
It may need additional money at some future point in time, which can easily be found by eliminating the cap for the wealthy that allows them to pay zero into SSI after they earn $118,500.
I never said SS payments or solvency was going to be a problem, and yes the cap should be moved much higher.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
ballsalsa said: so we're all in agreement then?
I don't believe there's a "trust fund" with $2.3 trillion worth of value, it's stuffed with nothing more than IOU's.
I guess one the long term problems SS is going to face is the changing demographics and the increasing life expectancy. So it's a fact that SS will run into major funding deficits, at that point it's up to the government on how to solve it.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
starfire_xes said: I thought this thread was about BLOWHARD? 
You mean the next US President.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
ballsalsa said: When you say that the Federal Reserve buys the notes from banks, what kind of banks are we talking about? Also, if treasury notes are being claimed as assets to create money, doesn't that mean that these types of securities are essentially the same as cash? Both the money, and the securities represent U.S. debt do they not? If that is the case, and congress spends the "money" and issues bonds in its place, what is the difference? the cash was just a marker in place of a treasury note (or some fraction thereof) in the first place and as such will have to be paid for with interest by taxpayers anyway.
T-bonds are not assets for the government, they're are liabilities. Cash (assets) and debt (liabilities) are NOT the same thing when it comes to accounting.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
fivepointer said: Trump's record at business:
Trump Taj Mahal, 1991, filed for bankruptcy Trump Castle Associates, 1992, filed for bankruptcy Trump Hotel & Casino Resorts, 2004, filed for bankruptcy Trump Entertainment Resorts, 2009, filed for bankruptcy
How will he make us great again? Spy on our cell phones, take away our healthcare, destroy world trade, drive huge deficits, maybe drive the US to bankruptcy?
Who wants to look at that guy's face for 4-8 years and put up with his clownery? No sane person.
News update- "world trade" doesn't work for the US worker, but Obama and Republicans don't give a fuck.
"drive the US to bankruptcy"
We have $19 trillion of debt, we are already bankrupt.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Putting up tariffs and returning the jobs back home to the US will bring real economic growth back to the economy.
Did you see 4th quarter GDP today? 1% !!!! What a joke.
How does shipping Ford and GM manufacturing down to Mexico help the US worker? It fucks them over, this is basic economic sense.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
fivepointer said:
Quote:
qman said: Putting up tariffs and returning the jobs back home to the US will bring real economic growth back to the economy.
Did you see 4th quarter GDP today? 1% !!!! What a joke.
How does shipping Ford and GM manufacturing down to Mexico help the US worker? It fucks them over, this is basic economic sense.
You need to study history, the Smoot-Hawley Tariff in the 1930's was a key in making the Great Depression as horrible as it was. Tariffs are bad policy, but Blowhard is too stupid to figure that out.
Total nonsense, why do you think that the US, EU, UK, and Japan have been in the shitter the past 20 years? You can't trade with third world economies without killing the middle class.
Please tell us how great NAFTA has been for the US workers? I'm waiting.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
zappaisgod said:
Quote:
Falcon91Wolvrn03 said:
Quote:
fivepointer said: You need to study history, the Smoot-Hawley Tariff in the 1930's was a key in making the Great Depression as horrible as it was. Tariffs are bad policy, but Blowhard is too stupid to figure that out.
Other countries suffered because they didn't sell nearly as much to the US, and eventually "retaliatory" tariffs reduced US exports as well.
Today, even if international trade went to zero due to tariffs, the increase in our domestic production from what we used to import would be a lot more than the decrease from what we used to export, because we import a hell of a lot more than we export.
Hence, tariffs would result in a net gain in domestic production.
And prices through the roof. Guess why the phony has his clothing line manufactured in China and Mexico.
I think the US could live with higher prices if we get higher employment and wages, that's a no brainer.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Romney is a joke, Trump crushed him.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
Penelope_Tree said:
Quote:
starfire_xes said: The truth is starting to come out about this foul piece of garbage....
http://www.newyorker.com/news/john-cassidy/donald-trumps-business-record-demands-more-scrutiny
anti-establisment my ass.
I also read someone that a financial analyst had crunched the numbers, and if he would've just put the million dollar loan his dad gave him into an index fund, he'd be worth significantly more (not to mention staying out of bankruptcy 4 times). Intelligent businessman my ass.
Article with net worth citation: http://fortune.com/2015/08/20/donald-trump-index-funds/
Yeah, anybody can be a Monday morning quarterback when it comes to investments, are any of these quarterbacks billionaires or just whiny bitches?
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Trump has been hammered everyday for months, it's too late. His supporters don't care and are essentially immune to the media and it's games.
In one week he will have it won, it's over.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
Bigbadwooof said:
Quote:
Tipote said:
Quote:
fivepointer said: It is laughable to see Trump make pretend he is a Christian. Everyone can see that he is not. He should just stop it, it is horrible thing to witness.
i'm kind of amazed he says it with a straight face.
It's almost as funny as watching Hillary pretend to be a Christian! lol
Bernie always skirts the question. He won't say that he is any particular religion, and I think he is an atheist.
My guess is that the majority of members of Congress are atheists, we need to start having them acknowledge it for once.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
Re: Trump [Re: falcon]
#22995311 - 03/11/16 08:35 AM (7 years, 10 months ago) |
|
|
Quote:
falcon said: Ha,maybe the venues he rents will want more, and the cops that do temp work at them will want more and the secret service will, I don't know what their protocol was but the reply fom the cop's spokeman it sounded like they thought it was OK what they did, maybe the secret service briefing s for his rallys will clear this confusion up next time.
What did the cops do wrong?
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
starfire_xes said: Trump actually acted mature in the debate last night. Maybe there is hope.
He did and that pretty much sealed the deal, I think by next week there won't be much to debate.
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 1 day, 1 hour
|
|
Quote:
Bigbadwooof said: Here you go Trump supporters. You'll enjoy this one:
|
|