COLA

Discussion in 'Offtopic Lounge' started by basicstrategy777, Oct 13, 2021.

  1. basicstrategy777, Oct 13, 2021

    basicstrategy777

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    Social Security recipients to get cost-of-living raise of 5.9%, biggest since 1982. This raise pretty much affects all government pensions, military, VA, federal employees, etc.


    777
     
    #1
  2. Dave G Ct, Oct 13, 2021

    Dave G Ct

    Dave G Ct Member

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    Yes I heard that. Rank and file who voted for this Halfwit are getting a nice surprise. High gas - good- retail prices.
     
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  3. von duck, Oct 14, 2021

    von duck

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    So what is the total cost of this action, and, where will the money come from?
     
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  4. basicstrategy777, Oct 14, 2021

    basicstrategy777

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    the treasury....

    777
     
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  5. von duck, Oct 14, 2021

    von duck

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    Which was too tough, the question, or an honest answer? :)
     
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  6. twodicebilly, Oct 14, 2021

    twodicebilly

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    777

    the treasury ????????? [​IMG]


    Dicesetter
     
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  7. basicstrategy777, Oct 14, 2021

    basicstrategy777

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    so who prints cash for circulation ?

    777
     
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  8. Mssthis1, Oct 14, 2021

    Mssthis1

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    The money is supposed to come from the Social Security Trust Fund. In reality the money has already been spent and exchanged for debt instruments.

    SS is in deep doo doo. Between inflation and all the unexpected early retirements the past 2 years, I expect it to go busto around 2025.

    SS is not a part of my retirement planning.
     
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  9. MisterInside, Oct 14, 2021

    MisterInside

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  10. von duck, Oct 14, 2021

    von duck

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    The federal reserve, whoever they are.
     
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  11. MisterInside, Oct 14, 2021

    MisterInside

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  12. Mssthis1, Oct 15, 2021

    Mssthis1

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    #12
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  13. Mssthis1, Oct 15, 2021

    Mssthis1

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    #13
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  14. basicstrategy777, Oct 15, 2021

    basicstrategy777

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    this is incorrect.

    777
     
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  15. Mssthis1, Oct 15, 2021

    Mssthis1

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    The Treasury prints it but they have no control over it.

    https://www.donaldwatkins.com/post/...ld-s-money-supply-for-more-than-two-centuries

    "In 1913, the Rothschilds established their last and current central bank in America -- the Federal Reserve Bank. This independent bank regulates and controls America's money supply and monetary policies. Even though the Federal Reserve is overseen by a board of governors appointed by the President of the United States, the bank's real control still resides with the Rothschild family"
     
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  16. twodicebilly, Oct 15, 2021

    twodicebilly

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    777

    Time to wake the hell up already. SS is a double tax on the american
    people, however like everything else the government does they make sure
    they get the American people dependent on it so it cant be stopped and
    in the mean time government takes its vig out of all the money.

    The thing is since there is no trust fund, every dime that is paid comes out of the
    general fund which means that for any one over 62 that is working, say you own a small
    business like i do, your paying for ss again, in addition for every dime you make over a certain
    amount, you pay a penalty for every dollar you get back of the money you already paid
    in.

    Since we are broke, we just add to the debt which China holds to give Americans
    back their own money. Every 11 days we give China enough money in interest to
    build another 1 billion war ship, so whats the difference if we borrow more and they
    can build one every 10 days.

    This idea that government is good depending on who runs it is pure folly.

    dicesetter
     
    #16
    Last edited: Oct 15, 2021
  17. badddoin, Oct 15, 2021

    badddoin

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    https://www.thebalance.com/who-owns-the-u-s-national-debt-3306124
     
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  18. twodicebilly, Oct 15, 2021

    twodicebilly

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    BADDDOIN


    [​IMG]



    ANOTHER LOOK

    since you dont worry about the debt i will give you another piece of information
    to chew on. Federal income tax total collections are expected to be about 1.9
    trillion, of which the top 6% pay 59.20 % which means the bottom 94% of
    workers pay 775 billion in tax.

    YOU take the debt at only 3% interior is 860 billion. Maybe you dont think to much
    of the debt, but i wonder if Biden has the guts to tell the American people that are in the
    bottom 94% that all taxes they will ever pay on all the income they are yet to earn has
    already been spent, and all the income any high school kid will ever earn is already spent.

    That changes things a TAD

    Dicesetter
     
    #18
  19. Settingcanthurt, Oct 15, 2021

    Settingcanthurt

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    I used to worry about this too until the Dems started spending Trillions and stealing billions. There is obviously a lot more in tax revenue then we know about. Higher prices brings in what??? Higher tax revenue.
     
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  20. Settingcanthurt, Oct 15, 2021

    Settingcanthurt

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    #20
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