7mo ago

Outside first DOGE caucus meeting, Republican says ‘there will be some cuts’ to Social Security

www.commondreams.org

Outside First DOGE Caucus Meeting, Republican Says 'There Will Be Some Cuts' to Social Security | Common Dreams

Summary

At the first meeting of the DOGE Caucus, a new congressional group focused on government efficiency, Republican Rep. Greg Lopez stated that cuts to Social Security and Medicare are likely “on the table” as part of debt reduction efforts.

The caucus, led by Elon Musk and Vivek Ramaswamy, aims to slash government spending, raising concerns among advocacy groups about potential attacks on anti-poverty programs.

Critics, including Social Security Works, warn the caucus may push for privatization and benefit reductions.

This comes despite Trump’s prior commitment to protect these programs.

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inclementimmigrant @lemmy.world

7mo ago

Outside First DOGE Caucus Meeting, Republican Says 'There Will Be Some Cuts' to Social Security | Common Dreams

www.commondreams.org /news/doge-caucus-social-security

113 comments

Friendly reminder that Social Security is a separate government program that funds itself.
What Musk is talking about is stealing from Social Security in order to cut taxes elsewhere (namely cutting taxes for people like Musk).
- That's not completely true. Social Security is supposed to fund itself, however it's currently facing a funding shortfall with current estimates that it will be depleted in 2035. There are many suggestions on how make this program solvent, including bolstering it with general funds.
  
  I think a good start would be to stop allowing Republicans to raid Social Security for quick cash, like they've been constantly doing since the Reagan administration.
  
  That's not completely true. Long ago they put it into the general fund. There is always a shortfall in the general fund. Before they put it in there it was solvent, and if they wouldn't have it would be completely solvent today.
  It was already stolen. They want the rest.
- How does it fund itself? What's the income? Just Social Security Tax?
  
  Yes, it's a payroll tax. Your paycheck may show how much you are paying into Social Security. This is money meant to help you and others after retirement. Musk wants to take that money and instead use it to fill unrelated gaps in the federal budget, gaps caused by Trump's tax cuts for the very wealthy.
  
  Another thing about the tax is that there is a cap on the amount you pay into it https://money.usnews.com/money/retirement/social-security/articles/what-is-the-social-security-tax-limit. Meaning it's a regressive tax where lower income people pay more than wealthy people (not to mention that many wealthy people may not have traditional income and pay no taxes for this).
  
  https://www.ssa.gov/pubs/EN-05-10024.pdf
  
  It doesn't fund itself, but it's a completely separate fund [bucket of money] than the rest of the government budget, with a specific tax that goes directly to it and nothing else.
- Right now, it is looking like we have missed our chance to do much about it. The only other options on the table are pretty grim.
Wow! Who woulda guessed they would immediately reneg on a campaign "promise" and immediately attack the side of the population that most reliably votes for them?
- And they still will!
  
  At least until the next pandemic
- Surprisingly enough, retired people were close to evenly split. Trump mostly won due to Gen X'ers.
Remember, we fucking paid for social security. It’s not government pork. It’s ours.
- Don't worry, you'll continue to pay for it. You'll probably even pay more.
  The cuts are just for the people receiving it. They'll lose money. Which means you'll lose even more in the future.
  A majority of young people agree on what the right course of action is here. Remember to leave your phone at home. Don't talk to the police.
  
  Don't worry, you'll continue to pay for it. You'll probably even pay more.
  You know what? Im already this fucking close anyway:
  Spins up my semi-industrial mushroom and weed farm again
  Time to make some untracked moolah I guess
- Up, it has a surplus. Government 'borrows' from the pool to pay for stuff. When they say they're making cuts, what they mean is they don't intend to pay the debt.
- No, it's theirs. They're going to take it and we're just going to let them because we are cowards.
  You, me, the next guy that posts a meme, complete and total cowards who are going to bend over and let him fuck us.
  Y'all let it get this far, are you waiting on something? Bend over, then.
‘Member when Dark Brandon called republicans out on this in his state of the union address, and they all booed and denied it?
Pepperidge Farm ‘members
- Too bad "dark" Brandon couldn't appoint a competent attorney general. Or stand up to the Israeli genocide. It so any of the important things that could have prevented voters not caring to turn out, having felt abandoned and ignored... But at least he said some things
  
  Wonder if voters will realize how much they fucked up after a few years of this.
- But Kamala just wasn’t inspiring enough. So…
"But they won't take away MY social security…"
- For most boomers, this is true. It’s genx and younger that will suffer.
  
  older millennial, checking in.
  I've been hearing since the 90s that social security would be bankrupt by the time I'm eligible for it, so i haven't included it in my retirement calculations at all.
  
  It's like we exist, as a generation, to subsidize the lifestyles of boomers.
Yes, they want to roll back the entire New Deal and have corporate serfdom again. They have been saying it for years and now they have their chance.
- More and more I feel we are seeing the pendulum swing. Normally we see 5-10 year cycles of push and pull along the political spectrum, but I'm becoming increasingly convinced we're in a century long cycle too.
  We no longer have those with living memory of the gilded age, losing those who remember the saving grace that was the New Deal, and fewer and fewer left who were sent to war to fight fascism. Meanwhile the wealth gap is worsening in developed nations across the world, democratic republics are electing more far right parties and authoritarian leaders with populist messages, and the incoming administration is floating the idea of scrapping the FDIC and deregulating anything else on his favorite billionaire's wishlist.
  Seems like we're right on track for a repeat of the 1930s.
  
  Removing the FDIC or when putting money under the mattress is safer than a bank......
- Hope everyone remembers to not negotiate with capitalists next time we have a labor movement like we had in the early 20th century.
A huge, mouth watering steak walks up to you and says, "There's no more food."
- That’s rich.
  ^ill ^see ^myself ^out
- Thank you, I couldn't think of a better analogy
It's funny at this point. Either the rich pay their share or we Mangione them. Tick tock musky. Tik fuckin tok.
- I'm legit surprised some big stock brokerage or finance firm hasn't loaded up to the tits on Tesla short positions and then sent in a couple of Luigi's.
  
  Wouldnt the company be more profitable without his interference and huge salary/bonus?
- Interestingly enough, social security's disability trust fund has enough money to continue paying out until 2098; it's the old person part that's running out.
  
  It should also be mentioned that it wouldn't be running out if they didn't cap the taxable income at $168,000. If you make $168,000 a year you pay the same social security tax as every millionaire and billionaire. BuT iTs InSoLvEnT
doesn't need to be, of course. they just want to cut social security because 'the poors' rely on it more.
debt reduction efforts
deep-six every loophole used mostly or only by the wealthy to avoid paying their share of taxes.
increase funding for irs, streamline enforcement actions, give them the resources needed to go after the big fish.
eliminate the cap on social security contributions, lower the ceiling on benefits for the very wealthy retirees, while raising the minimum benefit.
single payer tax funded health care, paid by higher taxes on the wealthy.
raise the capital gains rates. raise the estate tax, lower the assets value needed to trigger it.
raise the marginal rates for high income earners (by a lot. i want reagan screaming from beyond)
budget problem fixed. well over $2 trillion a year pumped into the economy by people who are now no longer padding insurance companies' bottom lines with it. but we aren't done yet....
$12/hr min wage (wait wut?!?!?! wait for it....)
$24,000 universal tax credit for everyone. the higher taxes up^there on high income earners would negate this for them, and they fund it for the others that do receive it.
this is a compromise between the $15 (or higher) crowd and small businesses. a little lower fed min wage than what's being pushed, but then essentially doubled based on full time work via the tax credit all receive.
- The wealthy, who have had help all their life but imagine they did it all on their own, see needing help when you're poor as a disgusting moral failing. Many of them will also call themselves Christians.
- This could end badly for them. Old people without a means to continue surviving either have to continue working till they die, or die fighting the government.
  
  Bill reacted to his death and resurrection into the Entity's Realm by treating it like Valhalla
Sure sure. I'm game for moving social security, but now how about you give back all the fucking money I put in it WITH interest since ya know.... Inflation.
- This country isn’t for you, homie. It’s for the rich.
  The rich will get your money and your interest, and you’ll get nothing. Americans like it that way.
- We’re paying for current retirees. That’s one reason why governments are so concerned with dropping birth rates.
  If Trump pulls this shit, and those taxes get nixed, I get to put an extra 6.2% into my retirement accounts and likely make more than I would with SS.
  I’d rather keep things how they are and not have assholes using that money for anything else though.
WHUT? I thought Trump was just going to kick out all the illegals and fuck over China! No one told me there would be DOMESTIC consequences!! Why didn't anyone warn me? At all his rallies he said the next 4 years would be awesome. Now I'm starting to think I was misled!
- nooo trump will definitely make the country great again, you see, but just like every great empire, so does this one require slaves/victims. otherwise if you're not winning against someone, what is the point in greatness?
- kek
- Them leopards be eatin some faces
It's funny, I listened to Steve Bannon's war room the other day and he was demanding that they not touch social security and go after the elites and the NGOs instead. Can't imagine this will play well with the voters that swung towards the republicans
- oh i'm sure the voters will do the same thing they always do.
  Rabidly support it until its too late, then go full "I didnt think he was going to hurt MY social security! Its not me hes supposed to be hurting! Its the poors! and the minorities! Why is he hurting me?! I'm a loyal supporter!"
Lovely how this incredibly wealthy person is laser focused on making things worse for poor people. I suppose it's the usual ploy of making people as desperate as possible so people like him can prey on us more easily.
Don't worry, the cuts will drain social security just in time for when you go to collect. Current recipients will go un affected. I have no insider knowledge, I just understand that corporate America hates my generation.
All you guys who didn't vote for whatever reason... I hope you're happy.
- I think that anyone who didn't vote because they thought the two were equivalent are probably not the type of person to keep up with this type of thing. So, there is probably ignorance, not necessarily stupidity (although there is that too). Ignorance is bliss. They're probably in their own world worrying about other things, and they probably are happier for it.
  I am envious. It will be bad enough to suffer resulting from everything president dipshit will do, but suffering from frustration knowing it is coming is awful too.
- I'm watching the machine that's oppressed me and everyone I love accept a newly tossed wrench right into the gears.
  I'd be lying if part of me wasn't happy to see the first few sparks.
  Sure, Trump threw it. Were you throwing anything but memes? Soon you'll get to throw bricks and molotovs.
  
  I've actually been Black Bloc at protests going back to the Occupy movement, I've been throwing shit. Can I assume you're one of those dickhead accelerationists that's never actually done anything and just wants to stir shit up?
If DOGE doesn't touch US Military spending (they won't), it's more bullshit than the TSA
- What's going to happen is DOGE will cut $5 trillion from the programs, and then there will be a $4 trillion in tax cuts that impact only the rich in someway or another, and an additional $1 trilion for the military.
  0 money is actually going to be saved from this. Realistically it'll be negative and cost money, not even 0.
- My stance. We voted for this. Let them do it. Get it over with. Let it all burn
  
  OK, but we have to make it absolutely crystal clear who is doing this, who it's hurting, and who is benefiting. That's why reporting like this is important.
  Trump just won an election by blaming democrats for Trump's own terrible economy.
So so shocked. But but they said that they would never go after social security.
- well I mean, roe vs wade is not going anywhere.
- I don't know what's more intriguing- the lies or the fact that his base doesn't notice it or doesn't care.
EDIT:
cuts to Social Security and Medicare are likely “on the table” as part of debt reduction efforts.
Medicare for all? More like Medicare for none.
This is going to go down like a lead ballon, even with the 60+ year old MAGAs.
- They will blame immigrants, single mothers, non-whites and LGBTQ+ people, and ignore the facts.
- I hate to tell you but it won't. My in-laws fall into that category and I constantly watch them twist themselves into knots trying to justify this stuff. They would also rather do without insurance than watch someone "undeserving" get it for "free".
  
  I'm sure they say that now, but I wonder what happens when they actually have to live it.
- All they have to do is tell them the reason it has to be done is LIBRULS and boom. All anger directed at Nancy Pelosi, all is forgotten.
well i guess it's a good thing nobody really needed that Social Security anyways /s
i'm impressed over and over again what kind of mental flexibility allows people to call themselves "followers of jesus" and then implement such regulations.
- Not to come off as a raging cynic, but I for one am not.
  All one needs to do is work retail or food service on Sundays. Moral licensing is absolutely a thing, and it's awful. Such interactions can leave one with the impression that there's a huge mob of people out there that are more concerned with narrowly avoiding hell than ensuring their place in heaven. Nevermind trying to be good people.
Eat those faces or at least scare the hell out of those faces, my pretties.
The House R's have a very tiny majority and their constituents will not be happy about this idea and will let them know it. So I feel like they won't be able to get the votes to do it. I also think they're going to prioritze things like more tax cuts for the wealthy and corporations first, as well as the border stuff, before they would get to that. Ya never know, but that's what I'm hoping for.
Hahahahahahahaahahhaahahaaaaaaaahhahahahaa
Hopefully they stop all those subsidies that go towards farms and we all starve and die.
- There's not that many of them, many people will be hungry
- Those subsidies mostly go to huge Ag corps that pretend they're split up into hundreds of little family farms...
Bahahahahaha.
Yet if there is any discussion on increasing taxes on these fucks all of a sudden it's government overreach on the "job creators"
I know a lot of bitter Boomers with bad health and nothing to lose, this could be an interesting year.
- Most of them are too stupid to understand how this affects them.
  
  When it comes to intelligence, standard deviation applies evenly to all age demographic. You ageist asshole.
some cuts
the cuts:
Someone needs to share this news with @BigMacHole@lemm.ee
- You do realize that's satire account, right?
  
  Yeah that's why we need him
This is what happens when you've never ridden on the subway.
No there the fuck will not be cuts to either thing.
Fucking DO IT

113 comments