A Quote by Mike Quigley
With more than half of the American workforce without private pension coverage, Social Security provides economic certainty within a system that is fair, equitable, and easy to understand. You work hard, pay into the system, and the federal government makes a promise to pay back your earned benefits when you retire. It's that simple.
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I do not believe that the Social Security system is in crisis. The Social Security Administration itself recently reported that the system is able to pay full benefits as they are defined today until at least 2042.
As I think all Americans understand on both sides of the aisle, the Social Security system as it is structured today is a pay-as-you-go system.
America should meet its obligations in the form of Social Security, Medicare, our ability to pay our military, legally binding legislation that allows unemployment compensation, the judiciary, the federal court system, the federal prison system, all those kinds of things have to be paid for.
Under the current pay-as-you-go Social Security system, not one person is actually guaranteed benefits.
A tax system is important because of what it can pay for, but also for how it works. When we pay taxes, we expect something back from the state; it strengthens the relationship and accountability between us and our governments. It also pays for what private finance shouldn't: our needs for healthcare, education and social security.
The more the state gives to its citizens, the less they have to earn. That is the basic concept of the welfare state - you receive almost everything you need without having to earn any of it. About half of Americans now pay no federal income tax - but they receive all government benefits just as if they had paid for, i.e., earned them.
I think, unfortunately, many opinion leaders in Germany - including government officials, politicians, social service bureaucrats and so forth - they are in the private system, and they get paid the private insurance by their employer. So for them this is the best of two worlds: They have some more expensive and privileged access, but they do not have to pay for it themselves. This is a system which is both inefficient and unfair at the same time, but it is defended by those who profit from this system, and this includes many opinion leaders and many politicians.
Multi-millionaires who pay half or less than half of the percentage of tax the rest of us pay justify their actions by saying they pay what the law requires. Though true, the fact is they found ways within the law to beat the purpose of the law - which, in the case of taxes, is that we all pay our fair share.
Our constituents paid into Social Security, and they want it paid back to them when they retire. Cutting Social Security benefits that Americans have earned should always be a last resort.
Young people understand that there is not a Social Security trust fund. Social Security is a pay-as-you-go system, where today's millennials are paying for today's seniors.
I'm talking to a lot of my industry to maybe try to create a guild and coalition where people, when they retire, would get a pension. We pay taxes through the years, we pay for unemployment, but we don't have a pension.
The theory of government I was taught says that government provides benefits, primarily security, to the entire population. In return we pay taxes. But lately the government has been a distributor of special privileges, taking money from some and giving it to others. America is now about evenly split between those who pay income taxes and those who consume them.
If you've been frugal during your life and tried to save, you're penalised by the tax system. You pay tax on your wages, your savings and even your private pension.
We are pushing for Medicare-for-all. That's an economic issue - it really is. And if we can work toward a fair, more-equitable system for working families, everybody would have health care.
Without significant reform, the Social Security Administration will be legally and financially unable to pay full promised benefits within a generation.
You pay your dues and work your way up through the system, whatever system there is - something guys in the business today don't really understand, don't have a clue.
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