i dont want to hear from the great economic minds. we learned in the last two years that the great economic minds come from the land of OZ and they are full of shit

"i dont want to hear from the great economic minds. we learned in the last two years that the great economic minds come from the land of OZ and they are full of shit"

ER, don't look now but you don't know what you're talking about. The one person who can honestly claim to have been right has been Paul Volker.

Wow Danni, I didn't think you'd hold a lifelong wall street banker in such high regard.

More of my generation believes in the existence of UFOs than the thought that social security will be there for us when we retire...

i'm beginning to wonder if they'll just leave the estate tax as is. let some beneficiaries get lucky in 2010, but then have a ratcheted down exemption number with a high marginal rate.

I'll take a wall street banker anyday over the D.C. assclowns who robbed social security in the first place. I don't see any of the politicians going to jail for their theft.

Paul Volcker is one of those rare individuals I would at least listen to----he's never used his position to enrich himself that I'm aware of.

"Social Security can be reformed to secure Americans' retirement"

That will never happen...ever!

"Is Congress Looting Federal Employees' Retirement Funds?
February 17, 2010

"Are the retirement funds federal employees contribute to the CSRS or FERS annuity trusts being used by Congress to pay down the national debt?
An expert in the field of geographic economics says it is true.
As of January 1, 2010, the amount of money owed to federal civilian and military pension trust funds passed the $1 trillion mark as Congress continues to loot all of the federal government's trust funds to pay for deficit spending."

dave walker agrees, he should know, and has proposed lie 5 changes to make it viable. NONE of which will be easy to agree upon.

However dems were saying 'hands off' social security for years, bush was scorned for any and all suggestions. Only in DC does "trust fund' mean NOTHING!

Oh gawd,

He really didn't say that did he? He certainly can't believe it.

have you forgot that he protected corrupted man from UN who still money, takes briebes and etc.
P.V. was chief investigator for this case from UN and did not disclose his financial ties with this man and others.

"As of January 1, 2010, the amount of money owed to federal civilian and military pension trust funds passed the $1 trillion mark as Congress continues to loot all of the federal government's trust funds to pay for deficit spending."

I believe it's true, when you cut all the taxes and reduce the income of the government what do you expect???
Reagan increased the amoung to income subject to SS tax but I don't hear any of the people complaining about SS insolvency talking about that OBVIOUS fix. It's as if it isn't right there staring them in the face. America's economic crisis is built on one thing, the belief that Americans are too stupid to figure out that rich people need to pay taxes.
The right has sold this idea that taxes on rich people will somehow reduce growth, stifle employment, destroy America, none of which is even close to the truty. Whole cable networks have been created to keep this fantasy alive. Right wing talkers have made careers out of continuing this fantasy. America's demise is purely the result of electronic media being used to convince unsophisticated people that what is good for rich folks is also good for them. Unfortunately, it's pure bull shit.

buzz,

those Washington assclowns are working for the Wall Street Bankers, by providing propaganda cover and extra special legal protection. The bankers get the money and the politicians get to touch the money and feel powerful.

The Wall Street Bankers are organized criminals who offshore jobs, never support small-medium business, and tax an unwitting public by slimming their 401Ks. Goldman-Sachs makes 76% of their profits through "proprietary trading " aka defrauding the marketplace. When their illegal schemes backfire our fucking Government bails them out.

Danni,

Taxing the rich is not the only answer, the market place needs to be made fair and I know this pains you to hear but more regulations are not the answer. More regulations hurt the small business much more than he multinational who will just offshore to avoid them. Meanwhile your mom and pop shop will be buried by attempts at compliance. I worked for one company that was killed by 2 factors.

1) Well meaning regulation that cost 30% of the annual payroll to meet.

2) Delayed and non-existent payments by the state health plan, ironically enough they taxed the company on the billed amount in the billed year. The owner the last I heard was still trying to get 50k back that she had to pay when she went to sell her house and found she couldn't cause there was a 50k lien on it.

However taxing the rich at a higher percent will not kill us.

no one shoulds be permitted to gamble with, let alone defraud taxpayers money.

that is what is going on.

it will not stop without reinstituting regulations that worked for 80 years.

otherwise everyone except the Paulsons and their ilk are fucked

the market place needs to be made fair
Define fair.

more regulations are not the answer.
Regulations that can prevent another Great Recession are the only answer. Also, to big to fail is to big to exist. If the government has to come in a bail out a company, the government has an OBLIGATION to ensure that the company is following sound business practices. And, since following sound business practices is no guarantee of success, under no circumstances should any company be allowed to obtain such a dominant market position that they pose a systemic risk to our economy eg. AIG.

More regulations hurt the small business much more than the multinational who will just offshore to avoid them. Meanwhile your mom and pop shop will be buried by attempts at compliance.

Regulations can be written in such a way as to prevent mom and pop shops from being included in rules meant for multi-nationals. There are also ways to deal with multi-nationals that off shore jobs, manufacturing, etc. However, our corrupt and/or cowardly elected representatives aren't willing to act in the best interests of the American people; and, as much as it pains me to say this, this includes the current occupant of the Whitehouse. Taking a position that jobs will never come back to the US is a cowardly concession to the powerful forces that allowed the jobs to be off shored in the first damn place.

Trying to construct something brand new (a new energy economy built on new technology) is extremely difficult. The payoff can be very large or it could be non-existent if not done right. In the interim, our economy deteriorates because we are denied the good jobs (and tax revenues) available with existing technologies.

Its as if our elected representatives know that the jig (i.e. the American experiment) is up and are acting in their own self interests and/or what they perceive to be the national interests. They don't seem to understand that their self interests and the national interests are inextricably tied to the interests of the American people.

I don't know why people are so dense. Danni, you sound like a nice person, but I swear you are dumber than a box of rocks.

I believe it's true, when you cut all the taxes and reduce the income of the government what do you expect???

I expect that people will create jobs. However, when gov't sucks up all the money via taxes, and all the available loans by borrowing, then job creation doesn't happen.

Reagan increased the amoung to income subject to SS tax but I don't hear any of the people complaining about SS insolvency talking about that OBVIOUS fix.

The fix to SS should be obvious. It is a ponzi scheme and all such schemes fail when the number of people paying in no longer cover the payments. Their is no way to fix a fatally flawed system. You can delay the collapse, but the ONLY way to do that is to create lots of good paying jobs, and to have HUGE numbers of people immigrate to the US and pay taxes... and that only prolongs the collapse until those workers get ready to retire.

America's economic crisis is built on one thing, the belief that Americans are too stupid to figure out that rich people need to pay taxes.

No, the problem is that idiots have been told that it is the "evil rich person" that is keeping you down, just like they tell blacks that it is the "evil white man" and they tell the white guys it is the "evil black man" that is going to take their women, etc. Its called class warfare. It is used by pols to keep people like you blaming people who work for a living instead of blaming the parasites that work in DC.

The right has sold this idea that taxes on rich people will somehow reduce growth, stifle employment, destroy America, none of which is even close to the truty.

Actually, that is PART of the truth. Add to that a bunch of stupid regulations, massive amounts of interference and a global market place, and that is a sure-fire way to destroy this country.

Whole cable networks have been created to keep this fantasy alive.

Tons of them, PMS-NBC, Communist Newz Network, Already Bogus Newz, etc.

America's demise is purely the result of electronic media being used to convince unsophisticated people that what is good for rich folks is also good for them. Unfortunately, it's pure bull shit.

Yes, cause we all know that hiring 535 people to play robin hood has made us all FUCKING RICH!!!!!

So, seriously, please open your eyes and look at the real world. Take whatever money you have, and start a business. When you have been screwed by a few dozen different agencies, each giving you conflicting rules and regulations... you will wake up one day and ask yourself "Wow... when did I become a republican?"

Don't touch my -5%, it might turn around and make money.

However, when gov't sucks up all the money via taxes, and all the available loans by borrowing, then job creation doesn't happen.

I would agree with that statement if the money the government sucks up is not "reinvested" in the economy. This reinvested takes the form of spending or paying off the national debt. When spent, it has a stimulative effect for those companies / industries in which it is spent. Those companies / industries can use that money for hiring.

The real problem is when the money being sucked up is used to pay off the debts owed to foreigners. That money leaves the country and has a stimulative effect on the companies / industries in the foreign countries. That is why I believe that the most important thing to do is to STOP THE REDISTRIBUTION OF AMERICAN WEALTH to foreign countries.

First, I disagree that gov't taxes are a positive stimulous. What happens is the same size pie gets sliced a little thinner for everyone. If we had fewer gov't workers, less taxes, and more jobs, then there would be a growing pie. We need to begin to address the fact that we are no longer a nation of producers.

Second, we need to change the tax code to help level the playing field. We have an income tax, so if you build a car here you pay tax on the labor. The same car made in Japan (unless the policy has changed) is that cars exported get the taxes refunded. So, manufaturing goes to where it is less costly. If we switch to a sales tax, items made here and sold here would be tax neutral (in a perfect world), but goods made in foreign countries would be charged a sales tax, and goods made here and exported would not be charged any US taxes.

After that, maybe we can prevent crap-n-trade our jobs to china or something. Other gov't regulations that put business under or off-shore.

First, I disagree that gov't taxes are a positive stimulous.

Cap and Trade is supposed to discourage energy consumption, yet higher taxes are supposed to boost GDP. "Taxes" means whatever they want it to mean.

First, I disagree that gov't taxes are a positive stimulous. What happens is the same size pie gets sliced a little thinner for everyone.

Agreed, if the taxes aren't respent wisely i.e. infrastructure improvements, improvements in manufacturing technology, education, investments in science, technology, etc. If spent in growth areas, the pie gets larger and there will be greater opportunities for everyone.

As much as we would like to think it, the people running our government are not stupid. They see what is going on and know how to fix it. However, greed and powerful interests prevents our government from taking the necessary actions to correct the problems.

As much as we would like to think it, the people running our government are not stupid. They see what is going on and know how to fix it. However, greed and powerful interests prevents our government from taking the necessary actions to correct the problems.
#23 | POSTED BY FEDUPWITHPOLS

No matter how much government wastes. No matter how much they bankrupt the private sector. No matter how corrupt they are. No matter how much they tax. The votaries will not hold their god responsible. Maybe because they have no one to blame but themselves.

America's economic crisis is built on one thing, the belief that Americans are too stupid to figure out that rich people need to pay taxes.

You mean like nancy pelosi, who pays a 18% tax rate?

Fed if our gov knew how to fix it and wanted to fix it the "powerful interests" would have no more power. The gov either doesn't know how to fix it or the gov has no interest in fixing it.

Which is worse? Stupid politicians or Criminal politicians.

Social Security can be reforned if they raise the retirement age to 85. Then the politicians can go about robbing the fund for another few decades.

Which is worse? Stupid politicians or Criminal politicians.

Neither. Stupid and criminal voters.

Some folks are so tied to their ideology that they reject every fix for Social Security and make unfounded claims that it is impossible to fix.
Funny thing, they have been saying the same crap since SS was first started. They will still be saying if fifty years from now. People like Paul Volker are only about a million times more knowledgeable than anyone posting here, I think I'll listen to his advice before I consider that of any of the pop-economists who post here.

let some beneficiaries get lucky in 2010,

Beneficiaries my actually owe more tax now that the estate tax is gone, than if it were renewed with a $3.5 million exemption.

Lucky? Only the extremely wealthy will be lucky.

BTW, the estate tax will be renewed back to 1/1/2010, it is just the rate and expemption that is up in doubt.

People like Paul Volker are only about a million times more knowledgeable than anyone posting here, I think I'll listen to his advice before I consider that of any of the pop-economists who post here.
#29 | POSTED BY DANNI

Let me know when you see Obama take his advice.

Some folks are so tied to their ideology that they reject every fix for Social Security and make unfounded claims that it is impossible to fix.
Funny thing, they have been saying the same crap since SS was first started.

In 1982 the SS system had basically no funds left, and it was fixed then and it can be fixed again.

And not through some ponzi wall street scheme.

Obama said during the campaign that SS can be fixed easily.

Prescott Bush was so angry Roosevelt established this entitlement, that he joined JP Morgan and other fatcats in a plot to assassinate the President. Prescott approached an Army Colonel who immediately reported the conspiracy to Congress. None of those rich fucks were ever prosecuted, being major campaign donors and all.

Where was all the concern about budgets while taxpayer money was being thrown at Wall Street fraudsters in excess of the national debt?

Politicians are only respsonsive to special interests, unless their reelection is on the line.

I'll take a wall street banker anyday over the D.C. assclowns who robbed social security in the first place.

#6 | Posted by buzkiller

It was LBJ and his DF congress that put SS into the general fund. And then to top that, Jimmy Carter and the Democratic Party allowed illegal immigrants that moved into this country at age 65 to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!

It was LBJ and his DF congress that put SS into the general fund. And then to top that, Jimmy Carter and the Democratic Party allowed illegal immigrants that moved into this country at age 65 to receive Social Security payments! The Democratic Party gave these payments to them, even though they never paid a dime into it!

#34 | Posted by Sniper

Could Sniper be a bigger dumbfuck? Do you research any of the retarded emails you repeat here endlessly?

Another huge whopper in this e-mail is the claim that President Jimmy Carter and the Democratic Party "decided to start giving annuity payments to immigrants even though they never paid a dime into it." In truth, no illegal immigrant is allowed to get a penny of Social Security retirement benefits, as this message implies. (We address more false claims on that theme in another Ask FactCheck.) And any immigrant who has become a citizen or legal resident can qualify only to the extent that they have worked and paid into the system for years, on the same basis as everybody else.

The earlier version of this e-mail made this claim only about the SSI program the Supplemental Security Income program for the blind, disabled or elderly and destitute. But the truth is, that program was signed into law by Republican President Richard Nixon in 1972. Under Nixon's SSI law, legal immigrants were eligible for benefits from the start. It is a federal welfare program funded out of general tax revenues and is separate from the Social Security old-age pensions and disability insurance programs funded out of dedicated payroll taxes. While Social Security benefits are paid to those who have paid payroll taxes for a certain minimum period of time, SSI benefits were available to all citizens and legal residents alike regardless of whether they had "paid a dime into it" or not.

The 'bedrock' appears to be more like shifting sands.