The Numbers Prove V***r F***d (Page 3): All true. I am a Federally Certified Social Security Adviser. Social Security is one big box of I.O.U.'s. I have always thought younger workers...

JFlorio Loc: Seminole Florida

Kickaha wrote:

The problems with Social Security are that over ti... (show quote)

All true. I am a Federally Certified Social Security Adviser. Social Security is one big box of I.O.U.'s. I have always thought younger workers should be able to contribute a portion into a variable fund that automatically reduces risk as the worker gets older. I do this for my clients. It could be done, but the govt. likes having control over your income, hence, you.

Seth

jimpack123 wrote:

Trump has done nothing for the working man for one, Two Trump would have dismantled Social Security by stopping the payroll tax at least Biden is gonna try to fix the problem. And three trying to trying to end the ACA without having another health plan ready to replace it is laughable. Four the GOP under Trump has become the laughing stock of the world. Hopefully the GOP comes to it's senses, and tells Trump to go and stay gone for the good of this nation

That's funny. Trump's tax cuts helped every one of many small business owners I know personally, to expand their businesses, buy more equipment, give their employees more money and hire more people.

Corporate client contacts have given me pretty much the same information.

I don't know which working class people you know, but it sounds more to me like you're just one of those low information "orange man bad" types who get all your information from Democrat party line bumper stickers, that or you're yet another troll who doesn't know any actual facts but posts partisan bulls**t just the same.

DASHY

Kickaha wrote:

The problems with Social Security are that over ti... (show quote)

There are plenty of private investment opportunities (IRA, 401-K, etc.) to supplement Social Security when we retire. Current workers pay for current Social Security payouts to retired Americans. When current payments are suspended, the SS fund dries up. Any excess in the Social Security Trust funds are invested entirely in U.S. Treasury Securities, the safest investment instrument available today. The U.S. Government has never defaulted on its IOUs.

JFlorio Loc: Seminole Florida

First off, not all jobs offer 401K’s. IRA’s have funding limits and tax consequences. The S.S. Fund is in trouble because of math. Not near as many contributing as taking out. The fund is estimated to not pay full amounts due around 2033 without changes.

DASHY wrote:

There are plenty of private investment opportunities (IRA, 401-K, etc.) to supplement Social Security when we retire. Current workers pay for current Social Security payouts to retired Americans. When current payments are suspended, the SS fund dries up. Any excess in the Social Security Trust funds are invested entirely in U.S. Treasury Securities, the safest investment instrument available today. The U.S. Government has never defaulted on its IOUs.

DASHY

Seth wrote:

That's funny. Trump's tax cuts helped every one of... (show quote)

I am a tax preparer. My small business clients benefitted very little from the tax cuts. Owners of some LLCs and some pass through business entities did get a substantial tax break if they qualified for the Qualified Business Income Deduction (QBI). Corporate clients got the greatest benefit. Most are holding on to the bonanza of cash waiting for consumer demand to cause them to expand. Not one boasted they were increasing wages to their employees.

DASHY

JFlorio wrote:

First off, not all jobs offer 401K’s. IRA’s have funding limits and tax consequences. The S.S. Fund is in trouble because of math. Not near as many contributing as taking out. The fund is estimated to not pay full amounts due around 2033 without changes.

That is exactly why the Biden Administration is considering changes that will extend the life of the Social Security fund.

JFlorio Loc: Seminole Florida

The tax preparer I work with said individual working class (middle and lower) benefited from increased deductions and credits. I know plenty of working people whose wages went up and or found a better job.

DASHY wrote:

I am a tax preparer. My small business clients benefitted very little from the tax cuts. Owners of some LLCs and some pass through business entities did get a substantial tax break if they qualified for the Qualified Business Income Deduction (QBI). Corporate clients got the greatest benefit. Most are holding on to the bonanza of cash waiting for consumer demand to cause them to expand. Not one boasted they were increasing wages to their employees.

JFlorio Loc: Seminole Florida

DASHY wrote:

That is exactly why the Biden Administration is considering changes that will extend the life of the Social Security fund.

All administrations have proposed changes. Usually kicked down the road.

DASHY

JFlorio wrote:

The tax preparer I work with said individual working class (middle and lower) benefited from increased deductions and credits. I know plenty of working people whose wages went up and or found a better job.

I agree the QBI deduction did help many business owners who qualified. Most W-2 wage earners i work with say they hardly even noticed the small increase in take home pay.

DASHY

JFlorio wrote:

All administrations have proposed changes. Usually kicked down the road.

Hopefully the new Democratic Administration with a majority in the House and perhaps a tie breaker majority in the Senate, some good proposals will lead to some good legislation.

lindajoy Loc: right here with you....

JFlorio wrote:

There is no doubt there was massive v***r f***d. If you find an honest progressive (oxymoron) they would admit it. I'm not surprised at fraud by any party. However; I am disappointed in the number of t*****rs to the Constitution and Republic that just do not care.

👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻

lindajoy Loc: right here with you....

JFlorio wrote:

All administrations have proposed changes. Usually kicked down the road.

For far too long...

Stonewalling in the finest Nixon tradition, along with the mentality of no rather than compromise is it no wonder we have what we have now???

Do you want any of us really believe it will change?

DASHY

lindajoy wrote:

For far too long...

Stonewalling in the finest Nixon tradition, along with the mentality of no rather than compromise is it no wonder we have what we have now???

Do you want any of us really believe it will change?

Joe Biden and I think it will change, especially with a Democratic majority in the House and perhaps a Democratic tie-breaker in the Senate. If Mitch can be stifled progress is possible.

Seth

DASHY wrote:

I am a tax preparer. My small business clients benefitted very little from the tax cuts. Owners of some LLCs and some pass through business entities did get a substantial tax break if they qualified for the Qualified Business Income Deduction (QBI). Corporate clients got the greatest benefit. Most are holding on to the bonanza of cash waiting for consumer demand to cause them to expand. Not one boasted they were increasing wages to their employees.

You must have a pretty stingy or not very bright clientele, but then, I tend to develop friendships with good people, and that includes a number of business owners I grew up with and with whom I've maintained contact for over half a century.

A sensible businessman doesn't let his capital sit there, he grows his business and he takes care of his assets.

JFlorio Loc: Seminole Florida

DASHY wrote:

I agree the QBI deduction did help many business owners who qualified. Most W-2 wage earners i work with say they hardly even noticed the small increase in take home pay.

Says who? Income rose for middle and lower classes as a whole than in recent history.