The Republican nominee-in-waiting said that “there’s a lot you can do in terms of cutting” when pressed on CNBC about the solvency of Social Security, Medicare and Medicaid.
Presumptive Republican presidential nominee Donald Trump opened the door Monday to “cutting” spending under Social Security and Medicare, drawing swift pushback from President Joe Biden and elevating a key policy battle in the 2024 election.
Phoning into CNBC’s “Squawk Box,” Trump was pressed on how he plans to resolve the long-term solvency problems of Social Security, Medicare and Medicaid.
“So first of all, there is a lot you can do in terms of entitlements, in terms of cutting,” Trump responded. “And in terms of, also, the theft and the bad management of entitlements — tremendous bad management of entitlements — there’s tremendous amounts of things and numbers of things you can do.”
If social security is cut, can I get all the money I put into it back? Because I’d have a sizeable retirement rather than losing all that money to the ether.
Fucking stupid.
Best we can do is a tax break to corporations.
Your money is already gone. It’s one giant Ponzi Scheme. They take the money from you to pay all the old fucks currently living off of Social Security.
If you want to have any money - you have to hope that in 20 years everyone else puts in enough to cover you.
It’s not a Ponzi scheme because withdrawals and deposits are scheduled and mandatory. You don’t get into a situation where investors lose faith and ask for money that you don’t have because that’s not allowed. You get your money when you reach the requisite age. You also don’t get into a situation where you run out of investors because it’s a mandatory payroll tax.
Essentially the only issue facing social security is the fact that since 1974, wage growth has become decoupled from productivity gains, meaning the payroll tax that funds social security captures a smaller proportion of business revenue over time - because businesses spend less of their revenue on payroll than they used to.
Social security doomerism of the type on display here is a tacit acceptance of conservative propaganda on the subject. The government is fully capable of indefinitely maintaining a pension fund, we just have to stop accepting the lie that it isn’t.
Ponzi scheme or adequately funded resource for no longer employable non-rich people? The difference is in the management and contributions, both of which need to increase up here.
We literally print the money. It isn’t gone. There is always more money in the banana stand.
We have an entire province in Canada who thinks the same.
They also think they get way more than their share because they’re soooo much more important – and it’s not the region where Toronto is!
The social security cut will be coupled with a tax cut. And you’ll be told to invest the difference in the stock market
The social security cut will be coupled with a tax cut for the rich. And you’ll be told to just be grateful the “job creators” blessed you with technically-slightly-better-than-slave wages you can spend renting your home from them
FTFY
Nah, Republicans aren’t quite that stupid. They’ll throw out a $200 increase to the child tax credit for six months or an increase in the standard deduction. Everyone (who isn’t already zeroed out by the last round of tax cuts) will get a taste.
This record low unemployment is, unironically, the right-wing technocrat’s wet dream. Everybody kicking and clawing for a seat at the table in a market that’s very easy to enter and very unsteady to climb. It really is the War Of All Against All out there. Survival of the
WhitestFittest. Real Social Darwinism Hours.You, too can gamble on Bitcoins / Sports Betting, win big, and pull together enough money to become a landlord, so you can tell the next generation to pull themselves up by their own bootstraps.
Or gamble and lose and just fucking die, to thereby decrease the surplus population.