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tech3149

(4,452 posts)

2. Indeed, Reagan initiated an increase in contributions

Reply to newfie11 (Original post)

Wed Apr 18, 2012, 06:33 AM

Apr 2012

That increase initiated on advice of his economic team meant that boomers, like me, were paying contributions not only for current recipients but for ourselves. The idea was to get past the hump and then drop the contributions to previous levels. Between raiding the contributions for the general fund to hide the deficit and reduced population growth, that will never happen now.

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Does anyone remember Thom Hartman saying this? [View all] newfie11 Apr 2012 OP

It's true that once we get over the Baby Boomers hump, the burden will once again go back down. LAGC Apr 2012 #1

Indeed, Reagan initiated an increase in contributions tech3149 Apr 2012 #2

Correct. FICA was raised in 1983 specifically to build up the SocSec Trust Fund-- eridani Apr 2012 #3

Thank you all so much. newfie11 Apr 2012 #4

Do not forget that AARP is in the Insurance racket....so public option is not to their Bluenorthwest Apr 2012 #5

Right you are! newfie11 Apr 2012 #6

Remember there are fundamental differences in funding SS and Medicare muriel_volestrangler Apr 2012 #7