There Will Be No Postponing Social Security Taxes Among the items that President Trump issued an “executive action” about three weeks ago was that for people earning less than around $104.000 per year, their fica taxes were to be postponed until Jan. 1, not cut, merely postponed, although Trump made noises that if he is […]
by Dale Coberly The Social Security Trustees Report is out. SS now in “short term actuarial insolvency” Much (lies) will be made of this. The Report does not lie, but it does obscure the fact that a 2% increase in the payroll tax will still solve the problem. the one tenth percent per year gradual […]
by Dale Coberly; CORONA VIRUS AND SOCIAL SECURITY, ANOTHER GRAND BARGAIN? Republicans are showing what they are made of. After claiming that the Corona Virus was not serious, or was well contained, or was Democrat fake news; they are now admitting it is serious and calling it a Chinese virus. Fox News explained to a reporter […]
by Dale Coberly A few years ago, now getting to be many years ago, I solved a crime. Not because I was a Great Detective, but because I happened to be standing across the street where I saw it committed and took the number of the getaway car. Since then I have tried to tell […]
(Dan here…reposted due to discussion in a previous thread) CRS: Social Security: What Would Happen If the Trust Funds Ran Out? Bruce Webb | July 21, 2015 Very interesting paper that I missed in real time. Social Security: What Would Happen If the Trust Funds Ran Out? Almost everyone who addresses this question assumes that the answer […]
Connecticut Representative John Larson Proposes Plan To Destroy Social Security In Order To Save It, by Dale Coberly Connecticut Congressman John Larson introduces H. R. 860, Social Security 2100 Act which will cuts taxes, strengthen benefits, prevents anyone from retiring into poverty, and ensure Social Security remains strong for generations. larson.house.gov It sounds good, but […]
(Dan here….) Via the New York Times comes an article on the Social Security shortfall. No explanations given for what the shortfall context is, and not till the end was a fix suggested. In comments calling SS a ponzi scheme (with no explanation) was common, or with the fix mostly was about lifting the cap. […]
by Dale Coberly The bad news is that we have slipped past the day when we could have saved Social Security from ever reporting “short term actuarial insolvency” by raising the payroll tax one tenth of one percent per year (about a dollar per week). This is only sorta bad because it doesn’t really matter […]
by Dale Coberly KOTLICOFF ON THE HILL with Social Security Larry Kotlikoff wrote an editorial that appeared May 14 in “The Hill:” “Social Security Just Ran a $9 Trillion Deficit and Nobody Noticed“ He cried, “Wolf! Wolf! Social Security ran a 9 Trillion Dollar Deficit last year and nobody noticed!” He went on to explain […]
(Dan here…Social Security is an issue that seems to generate a lot of firm beliefs and passion, as witness recent threads. It is rare that people refer to actuary material. On the other sides of the issue are people like Andrew Biggs, who is knowledgeable and smart in his arguments. I am posting this as […]