CNN is reporting Sunday afternoon that fiscal cliff talks have hit a major obstacle.
Citing a “Democratic source,” CNN says that “Republicans are now insisting that any fiscal cliff deal include ‘chained CPI,’ which Democrats consider a ‘poison pill.'”
A “chained CPI” would mean in most cases smaller social security checks for persons in that program.
CNN says that the Democratic source revealed the information in order to put pressure on Republicans to make concessions and come to an agreement.
Congress and the President have until December 31st to make a deal on extending the Bush-era tax cuts. No deal would mean higher taxes for many Americans and large budget cuts.
Negotiations in Washington are set to continue Sunday afternoon.
I still say lets start taxing the dollars in Entitlement that so many bloodsuckers have figured out how to get by beeting the system. In fact it should never be called entitlement. If you have done nothing but leech off the working class your not entitled to anything. Oh but I forgot that’s the class the Democrats depend on to win elections.
Happy Guy, the Republicans DID offer to close the tax loopholes, at an estimated 800B-1.2T. Wasn’t enough for the big spender.
It’s sad how many fools still believe the president is genuine about “cutting deficits” when he has added 6+ Trillion his first term, wanted 200 billion in additional stimulus spending in the fiscal cliff deal, and wants to remove congress’s say over the debt ceiling.
Seriously people, wake up! Add another 2.8 Trillion to the debt ceiling, while lying to the public about “being serious about spending” what a joke! And a bunch of damn fools who buy it.
Have you heard the news? We go over the cliff at midnight tonight. So much for cooperation in our government. Pathetic.
Chained CPI = $122Billion over 10 years. Here are 10 ideas that would save real money and help lower the deficit:
1. Wall Street Transaction Tax (0.25%)=$1,800B
2.Eliminate Corporate tax loopholes= $1,240B
3.45%-49% Rates for $1 Million to $1 Billion= $872B
4.DoD cuts to Bloated Military = $519B
5. Raise SS wage cap to $170k = $457B
6. Return to Clinton 36% & 39% top rates=$442B
7. more progressive estate tax=$330B
8. Negotiate medicare drug coverage=$220B
9. reduce overseas military bases by 20%=$200B
10. close loopholes in capital gains=$174B
That is over $6.25 Trillion in 10 years. Time to get real and leave SS alone.
I applaud your ideas. I would only recommend that if you want politicians to understand them, you use smaller words and a lot of graphics/cartoons.
@Happy Guy-Great Ideas. I wish we could make this happen but I seriously doubt you can get the Republicans to go along with this. Politicians hate anything that makes good common sense.
I totally disagree with any estate taxes. People should not have to pay taxes on their incomes all their lives and then have it taxed again when they die. No wonder rich people put their assets in offshore accounts! You never know when this government is going to abscond with most of it if you die.
I disagree with you on estate taxes. But lets say we leave those alone. We still save almost $6Billion dollars.
Excellent ideas, happyguy! Unfortunately, they make way too much sense and would never be passed by our “do nothing” congress.
@ LVS – You say I have no business telling people some things. That’s your point of view. and I respect it. As for a self-rightous soap box. A lot of my comments are not liked/misunderstood. I am just trying to show the basis for what I say. I never depended on soc. sec., and I never expected to receive it. Those unforseen situations that you mention: job loss, physical problems, etc. I took all of those into consideration so I planned financially accordingly. If other people did plan on soc. sec., than that was their choice, with the accompanyning pitfalls. I don’t mean to belittle, offend, or insult anyone.
@ Working Class Stiff – “I got mine Jack”. What in the world are you talking about?
@ ArmBears – Trust me, when it’s time for me to go to a long term care facility, I will not be going to a long term care facility.
@A Citizen-You know you could be wiped out financially on Wednesday if they do not solve this problem at the Federal Level I personally know of some people who lost everything the had saved over their lives in the last few years. Not their fault. They did everything they were supposed to and when the markets fell so did their savings. What I am trying to point out is that there are circumstances beyond yoour control that happens in peoples lives. Maybe you aare one of the fortunate ones but I have noticed that the more people brag the closer you should look at what they are claiming. Just saying.
First of all, I thank God every day for being as fortunate as my wife and I are. And no, I am not bragging. Just telling the truth. To the people who had the foresight to plan for something like this, congratulations. To those who, for some reason, either couldn’t or didn’t, I sincerely hope things work out all right for them.
WHY DO YOU REPORT ONLY PART OF STORY ABOUT SOCIAL SECURITY CHECKS GETTING SMALLER 1 WHAT DO YOU MEAN
Dave, you aren’t paying attention. Just how much sense does it make for the GOP to pander to the wealthiest citizens of our country, who can easily afford to pay more taxes? And why should the GOP think it’s okay to reduce our S.S. payments when they have NO limits on ANY of their wonderful perks that WE pay for? How can you possibly think this is right?
This what we get for putting Obama back in there we didn’t have good choices to begin with but @ least we would have had an American running our country. I believe this is all Obama’s idea he just uses people as the fall guys then he get rid of them. I bet this doesn’t stop him from taking allot of vacations again this term. I hope people keep track of that it was 19 last term and he has had his first already and he’s not in his second yet ! They need to clean out and start over lets get some of us hard working Americans in the White House that have been there,done it to make decisions for the hard working people.
2 weeks ago Obama brought this up so I don’t understand how the GOP is getting the blame for this idea.
http://www.csmonitor.com/USA/DC-Decoder/2012/1218/Social-Security-reform-What-chained-CPI-proposal-by-Obama-means
I knew it, obama is a liar and you people are believing every lying word he says like he is god. Wake up and smell the BS he is shoveling.
These overpaid piles of garbage have had how long to get this figured out and still can’t? People pay into Social Security and should not have to deal with this crap.
A person definitely has to plan for themselves as if SS won’t be there when they retire. I am very thankful I don’t pay in on Social Security and have a plan for my retirement.
@Working Class Stiff – I don’t have to practice what I preach because I am an individual, not a government. Been a factory worker all my life, and depended on no one but my wife and myself. I am 64 yo and retired for two years. We planned our lives so that in our later years, we would need to depend on no one but ourselves and our frugality. If you paid in to soc. sec. and were foolish enough to plan on getting anything out of it, then, my friend, you dug your own grave. Remember, if it sounds too good to be true, it probably is.
Translation “I got mine Jack”.
@A Citizen-You are real big on telling people tht they should have saved instead of depending on Social Security. I heard one Republican loud mouth who said he lost money on the Madoff deal so he doesn’t feel sorry if people lose their S.S. There is one HELL of a difference here. Paying into S.S. was MANATORY and the government promised that OUR money would be there when we retire. People involved in the Madoff scheme were in there because they were greedy and were taken by someone more greedy. There was no way he could pay that on investments. There are a lot of reasons that people depend on S.S. Someone could have had health issues and used their money. They could have lost their job and had to use their savings. They could have gone broke in the big crash. the point is, you have no business telling people that they did something wrong by trusting the government to do what they said. They are supposed to work for us. There are all sorts of Federal programs that are worthless and could be cut. You can also cut the congress benefits for a start. Now, pleaSE GET OFF YOUR SELF RIGHTOUS SOAP BOX.
To A Citizen. In the famous words of my Vulcan Friends, “May you live long and prosper” and send every last dime being a private pay resident at a long term care facility eating the same oatmeal as the poor folks on Medicaid.
Sorry typo “Spend not send”
We are told by democrats what the republicans want, instead of believing everything they tell us maybe we should do our own research. I can’t tell you how many lies the democrats have been caught in and they still keep doing it.
Social security is not an entitlement and should not be cut. The republican party will become a thing of the past if they don’t quit insisting that SS is an entitlement. Hard working americans have paid into this system for years and they should not be victimized by any political party. If cuts need to be maid they should be made elsewhere such as no tax breaks for oil companies and real entitlement programs should be looked at.
Sorry about the typo but this is just more crap coming from the republican party. This country needs a real third party choice.
The Social Security Trust fund itself is solvent and quite sustainable for another 15+ years. Leave it the hell alone! If you want to tinker with medicare deductables, out of pocket expenses or medicaid reforms then thats another matter and debatable. Just keep voting yourself pay raises, premier health care at no cost whatsoever for you in the finest hospitals in the USA and tell the little guy how warm and wonderful its gonna feel when you piss on his leg! God help the GOP.
@Armbears, There is no SS “Trust Fund.”
Jim and LVS I am with you. I’m not sure why they look at them as entitlements when I have paid into it for morw than 40 years. The goverment raided the SS and never paid it back. SS is fine if they pay us back and drop the $113k cap on it. You should on what you earn.
I agree with lvs the politicans want to cut everyone else, but the will not lead by cutting their own outlandish benifits…..Jim so I can’t spell you can read between the lines
If people did not have the foresight to plan for their retirement years without social security, then they deserve what happens to them. SS was meant to be a help, not an answer. Democrats also will not consider a fiscal cliff deal unless there is an extension of the emergency unemployment compensation. When will the democrats realize that you can’t save the world by handing out free money. Cut spending and increase taxes. And if you don’t have the money, don’t spend it.
Hope you practice what you preach. You better not have a credit card with a balance, a car loan, or a mortgage. Good enough for a citizen, good enough for the government.
I agree with ‘a citizen’ people need to wean themselves from the governmental teat.
“The more we entrust our well-being to a few government officials, the more we open ourselves up the abuses of power that men have a hard time resisting when they’re presented with such opportunities.”
That is B.S****. If they want to cut something they can cut their own salary’s. I am about to become a Democrat.
Herein lies the problem…..CNN reported it…. I think everyone in the USA democrat-republican-independent need to start SCREAMING about biased news reporting. We need to figure out a way to boycott the news agencys that keep lying to the American people. It’s always “the democrats fault” “the greedy republicans fault” etcetc.. BS I place the blame on the media and ALL the lawmakers. They are F=ing this country up while we are all bickering about shit that might not even be true.. There has been so many un truths spewed about it is sickening. Until we all unite it’s not getting better…