Leave our Entitlements ALONE! Let the Bush Tax Cuts Expire for ALL

[Domitius Corbulo]

Leave our entitlements alone. TO hell with BOner. Let him stick it up
his own ass and not ours!

Social Security and Medicare’s annual checkup found that the entitlement
system continues to face long-term financial challenges. The Social
Security trust fund is expected to be exhausted in 2036, one year sooner
than was projected last year. And the date Medicare’s hospital insurance
trust fund is projected to be depleted has advanced up to 2024, five
years earlier than in last year’s report. Once those dates pass, there
will only be sufficient resources coming in to pay out about 77 percent
of scheduled Social Security benefits and 90 percent of retirees
hospital insurance costs, unless changes are made to the program.

The average longevity of an American today is 70. DO NOT Raise the
retirement age. It is already too high! Entitlements are NOT TO BE
included in the budget deficit. They are two separate issues.

There will be enough funds to pay out promised Social Security benefits
for about 25 years and the amount of money in reserve increased last
year, according to the Social Security Board of Trustees report released
today. The assets of the Social Security trust funds grew by $69 billion
in 2010 to a total of $2.6 trillion. Approximately $781 billion was
deposited into the OASDI trust funds in 2010, including $637 billion in
net contributions, $24 billion from the taxation of benefits, $117
billion in interest, and $2 billion in reimbursements from the general
fund of the Treasury. Some 157 million people paid payroll taxes into
the trust funds in 2010 and the trust fund assets earned an interest
rate of 4.6 percent.

Modify the Social Security tax cap. Workers pay into the Social Security
system on earnings up to $106,800 in 2010. About 83 percent of worker
earnings were subject to Social Security payroll taxes in 2008. If all
earned income above $106,800 annually were subject to Social Security
contributions but did not count toward benefits, Social Security’s
projected deficit would be completely eliminated. If the higher income
counted toward Social Security benefits, about 95 percent of the
shortfall would be absolved. Other ideas: apply a new Social Security
formula to earnings above the current cap or raise the amount of the
income cap to apply to 90 percent of all worker earnings.

Send this or a facsimile to "WhiteHouse.Gov" Click on Contact the white
house. Now that the election is over, the president may need a reminder
from those who elected him.