tag:blogger.com,1999:blog-8537995.post110486810313198913..comments2023-10-29T10:54:58.681-04:00Comments on Vox Baby: Victor Does the Heavy LiftingAndrewhttp://www.blogger.com/profile/13514024573333057559noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8537995.post-1104989122672475102005-01-06T00:25:00.000-05:002005-01-06T00:25:00.000-05:00The Anonymous version of Maxspeak wrote:
"If the ...The Anonymous version of Maxspeak wrote:<br /><br />"If the Trust Fund is meaningless ... Tax increases, anyone?"<br /><br />Well, of course, that would be half the point – the other half being that "tax increases = benefit cuts".<br /><br />Politics and precedent says there is going to be *no* such increase of general revenue income taxes post-2020 to fund SS ($5 trillion worth, corresponding toJGhttps://www.blogger.com/profile/11164150812219689611noreply@blogger.comtag:blogger.com,1999:blog-8537995.post-1104938962949537072005-01-05T10:29:00.000-05:002005-01-05T10:29:00.000-05:00Jim is correct, the 'trust fund' is a red herring....Jim is correct, the 'trust fund' is a red herring. <br /><br />When the first of the Baby Boomers (born in 1946) begin to retire, the SS surplus will begin to be reduced. Meaning the govt will need to find another source of funds for spending that had been covered by the SS surplus. The problem increases with each year.<br /><br />The effect could be felt as early as about 2009. It's only Patrick Sullivanhttps://www.blogger.com/profile/14948365865741313524noreply@blogger.comtag:blogger.com,1999:blog-8537995.post-1104932342971695282005-01-05T08:39:00.000-05:002005-01-05T08:39:00.000-05:00[MaxSpeak] If the Trust Fund is meaningless, it c...[MaxSpeak] If the Trust Fund is meaningless, it cannot go broke. You could also argue that in this case the program imbalance (present value of contributions minus expenses) is undefined because one cannot include historic program in-go and out-go. That throws you into overall budget imbalance. Tax increases, anyone?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8537995.post-1104895664556701362005-01-04T22:27:00.000-05:002005-01-04T22:27:00.000-05:00I am at something of a loss as to why anybody care...I am at something of a loss as to why anybody cares like this about the trust fund.<br /><br />1) We know the trust fund provides zero ($0) in financing for future SS benefits. To quote the _Analytical Perspectives on the 2005 Budget_ on the subject of the trust fund bonds....<br /><br />"At the time Social Security ... redeems these instruments to pay future benefits not covered by future JGhttps://www.blogger.com/profile/11164150812219689611noreply@blogger.comtag:blogger.com,1999:blog-8537995.post-1104875212549347522005-01-04T16:46:00.000-05:002005-01-04T16:46:00.000-05:00Andrew,
Imagine that you are alive at the exact m...Andrew,<br /><br />Imagine that you are alive at the exact moment when the Social Security Trust Fund becomes exhausted.<br /><br />Just before exhaustion, a $1000 payment is funded by $800 in payroll tax receipts and a new Treasury public borrowing of $200 to redeem the last non-marketable special Treasury security held in the Social Security Trust Fund.<br /><br />Just after exhaustion, the Anonymousnoreply@blogger.com