Deinonychus antirrhopus

The Staggering Stupidity of DU

This time it is Social Security. Some DU dimwit posts that Social Security benefits will have to be cut by 1/3rd or the payroll tax raised 46% (or various combinations thereof) to keep the Ponzi scheme afloat.

Gee, who posted something similar there years ago? Oh yeah, I did. I posted a link to this paper by Laurence Kotlikoff on the same subject who made very similar projections.

Even with the projected off-budget surpluses, the Social Security and Medicare programs are underfunded by roughly 40 percent. Closing that funding gap requires an immediate and permanent increase in the combined employer-employee FICA payroll tax from 15.3 percent to roughly 25 percent. Another option is immediately and permanently cutting the benefits of these programs by roughly one quarter.

Of course, I posted it so I got banned. Go figure...freaking morons.