Increase the requirement of work time to 20 years. As it is now, you only need to have worked 10 years to receive benefits. I don't want any lazy people taking my tax dollars. Secondly, reduce social security benefits for people with criminal backgrounds- they should pay for their time in prison anyway. Thumbs up?
First, cut the retirement package for all elected officials, put them on SS. Next, end the war on drugs, and all other wars. Cut the defense budget in one third. Close all military bases not in America. Get rid of the first ladies entire staff, save a million a month.
So which is it Cenk? There is a 2.5 trillion$ trust fund or is the money spent? You claim both in your rant. Why do you talk of "my" money when you speak of SS benefits? When the government takes my money it is no longer mine.
The so called trust fund is just a bunch of government issued IOU's. There is no money there! You are really destroying your own credibility by making these ridiculous claims.
@66605 We put it in bonds... Its money put in by us in bonds.... So what are you saying, we won't honor the bonds that we invested in ourselves? If we default on those bonds, social security will be the last issue we will have to worry about.... right?
Bonds are not money. Who would buy these government issued bonds knowing how recklessly the US government puts itself in financial trouble? It is unlikely the USA will ever be able to pay off its debts so why pretend to have faith in government accounting tricks.
@66605 Thats why social secuity should be an opt-out program, and not a forced program like it is today. Those funds are funds of the total deception of the government. Promised by printing more money, but what happens when the U.S. finally bankrupts (which it will). Take my money now, and in return I will never be able to get it back when I'm old enough to collect it. I'd rather have it now. I shouldnt have to pay for someone else who refused to save responsibly.
"The America Republic will endure until Congress realizes that it can bribe the public with the public's money." - Alexis de Toqueville, Democracy in America
When you mention "The feds need to pay up" where do you think the money comes from, a money tree? It's the American public's money, or money borrowed against the American public. Social Security is a Ponzi scheme, I'm paying into it for current generations yet I probably won't be getting my money back myself, it sucks.
Everything is just fine... we're not going insolvent... we're not going broke... just tax the magic "rich" money tree and we will reach utopia? Is that why leftist claim to be oh-so-sophisticated?
@CharlesZFG greed? every company strives to save costs. why pay someone 20 an hour when you can have someone else do it for a fraction of the cost? it's not greed...it's called not wasting money and globalization
@AroundSun I know I Watched Every Documentry On Netflixs and were in Debt Because of the Two Unwinable Wars and the Rich Assholes only pay 15%. That's Right Half of what we Pay you know in the 1950's the Richest 1% Paid 90% in Taxes and our Country was Doing Great. we used that Money to Built Interstate Highways Schools Police Stations Fire Stations Libraries and so on. now our States are so Broke that the Police Pull People over for Minor things to Ticket Them. is that your kind of America...?
@METALMAN4Wii We are in debt because we have been spending without raising taxes for too long. We have been living on borrowed money and have been printing for years. The solution isnt just to kill the wealthy with taxes. It hurts all of us in the long run. My kind of America is the constitutional version which limits government control over our lives. The libertarian perspective. The view of our founders.
@AroundSun I'll halfway agree with you because I know how the Federal Reserve ( which is a Bank btw and that goes against the Constitution ) is Printing Money like it's going to Expire it needs to stop no more Printing. until Americans have the Jobs to make and spend the Money. second someone has to pay off the Debt we owe and who better then the people who crashed the Economy it's called revenge. see just because im on the Democrats side doesn't mean im a hippie in fact im alot like FDR...!
Obama is the guy that wont learn the lesson. Fannie and Freddie are democrats failures. The economy on the verge of collapse because their failed programs. The jobs left because of high corporate taxes and regulations and unions. They had to move to survive. Look at liberal California losing businesses to NV and AZ. High taxes destroy prosperity. Low taxes is what attacts business and British musicians and everyone else.
@cozyfoxstudio dont forget that Arizona and Nevada (las vegas) survive only because we the taxpayer, subsidize the vast water diversion project to make the desert livable for modern people. (check out the Cadillac Desert). the hypocritical western and southern states live on govt doles of huge proportions, be it water diversion (which has basically killed the lower Colorado river--it no longer reaches the gulf of Cortez) or huge military bases.
@gggreggg I love this bullshit angle. Nobody said the government was bad. Too much of it is. Since public works is used by everyone and helpful the constitution allows for a limited budget. To aid everyone equally. However taking money from one person and giving cash to your voters is bullshit. Propping up failing programs with more debt is not success. Military is our republics first duty. This is the new liberals spin. Pretending your failures are equal to benifical utilities.
You don't spend money on tax cuts you liar. Tax cuts let people keep their own money. The money that was spent. Was spent on social programs that cost money. This is how you lie to your viewers. That money was supposed to be untouchable. Remember LOCK BOX. The same misleading lies that defended Fannie and freddie when Republicans warned you they would collapse.
1:18; SS has 2.5 T "trust fund". Except that trust fund is in the form of US T-bills as the tax receipts were spent every single year they were taken. It is not an asset if you owe it to yourself.
1:30; 100% benefits, only if the US takes on new debt, prints money, or taxes. Relates to first lie of a "painless" trust fund(that doesn't exist).
At least he redeems himself at 1:53. It is bankrupt, all payouts from here will come out of the general fund.
I'm against Social Security for exactly the same reasons Cenk thinks it's sustainable: The revenue collected is in effect a secondary income tax which helps the elites first and the middle-class second.
@RavingDissension Well damn. If we did away with that the lower class would be stuck to beg for pensions or hope the economy doesn't fall and put them into 401ks. What do you say is best. I see you're into Ann Rayn..
This nation needs to stop subsidizing the rich and the poor at the expense of the middle-class. There are many better retirement plans than the 401k alone. Unfortunately, the revenue the federal gov't collects when you cash in these funds makes Congress very reluctant to adopt new ideas.
What about Ayn Rand? I guess I'm an extremist anarcho-capitalist if I favorite a few of her videos. Tomorrow some conservative will tell me off for favoriting campaign finance reform. Lol.
@RavingDissension@RavingDissension No I'm not saying you're some horrible man. Hell I don't even remember what I was getting at. Oh i was just assuming that had something to do with your view on the role of government in people's lives. That's all.
The first paragraph you sent is interesting but still leaves me with nothing. I mean you're talking about stuff that's way past me. How does the govt collect revenue when you cash in funds?
401k tax. The gov't taxes about half of your earnings in this savings if you choose to withdraw for separate, less-known programs. This generates a great deal of federal revenue for Congress to do with as they wish and it acts as a disincentive to competitive programs (hence why they're less-known). I'm just saying that they're options out there for retirement that work for the middle-class's benefit.
@GladiatorGT The money is technically there in terms of budgets, but has also been spent. It's similar to the fact that America has a federal deficit larger than the national GDP. Everything the US does is deficit spending without a balanced budget. In a sense, the US has no money except what countries like China give to us as an allowance. The issue with social security is that more money is always coming in. So, it's not bankrupt unless the govt keeps spending it. It's all a shell game.
@CharlesZFG Anybody can get a current price earnings ratio of the S&P 500. It is 500 large US corps, The ratio last week was about 19.4/1. Thats $19.40 invested yields $1 profit. 1 / 19.40= 5.2%. The info you quote means profit has been rising, up to present 5.2%. Close to the historic norm. The corporations would cease to exist, if profit not restored by firing millions, closing plants. Guy making $900/wk, 2/3 going to big corps, would have extra $30/wk if profit outlawed. Big Deal!
@CharlesZFG Demand and the market will dictate the transition. Except we are not so much a free market. This concept is known as "Creative destruction". The tractor displaced the horse. The horse displaced the man with a smaller plow on his shoulders. The smaller plow displaced the hoe. Can you observe greater capital investment, from hoe to tractor? THAT, is the case for leaving the rich alone, allow capital to develop, not let govt spend capital and destroy it?!
@CharlesZFG No. K-12 is the issue, and that INDUSTRY is a Govt and Union monopoly. Kill it dead with vouchers. Our universities and colleges are world class, and govt is smaller in that area. We already outspend other nations on K-12. Competition is what needs to be introduced. This failure dooms future prosperity. It means surpluses of no- tech people ( low wages, unemployment), and shortages of hi tech people ( really high wages, but an industry that COULD grow more if educated labor existed.
@CharlesZFG 2nd point is wrong, figure it out! The P/E ratio is always changing, up or down. But, it always, eventually comes back around to a norm, about 5% profit. When profits are very high, that attracts capital, and then supplies increase in that area, and profits turn back towards normal returns. As long as capital is free to move, profits will remain in a journey back to the norm. The S&P is 500 large corps, study this before making claims. You sir, have not, you have "feelings".
@CharlesZFG Google "S&P 500 price earnings ratio". First item a chart. Right today, it was 19.45. This means $19.45 invested gets $1 profit. That is today, slightly over 5%! That IS the historic norm! So, corps have had tremendous growth in profit, getting back to 5% profits, the norm. Recall that corps were trashed, losing money. They have closed plants and capacities, fired millions. They are smaller now, and back to profitability, at normal rates. Increasing back to 5% profit, from losses.
so banks never tank, but the US Treasury does? obviously it's the opposite. an IOU from USA isn't worthless. if the US government becomes bankrupt, social security is the least of our issues. it is more like buying a bad insurance plan than an investment. GOP privatization is like its shareholders trying to cash out on a bad company. anyway, my original point was, it is not a 401K (asset), but it seems people tend to treat it as such.
@ucraznmonkey The issue is that Treasury already has to sell a lot of bonds, or get more tax revenues, or have the Fed print money to run things as it is. When it has to begin repaying the Trust Fund of SS, that makes a bad situation much worse. Get it, genius? This issue will cause interest rates to rise, making the debt very hard to pay.
@seesitnow4sure The bandits running the printing presses were given their power ( Federal Reserve) by the Progressive, Woodrow Wilson. Right wing wackos are Gold Standard lunatics, where a Federal Reserve is not desired to intervene, causing "bubbles". We are nuts, our assets quadrupling in the last decade, up 30% this year! I just love being crazy. And right.
@seesitnow4sure With a pinko in the White House, we are cheering "End of War". OOOPs, There`s still 50,000 troops in Iraq, and a problem in Afghanistan. I believe that our little girl President got sat in a room, and was explained the facts of life. Thats why he isnt changing Bush policy. It is the correct policy. Bush was for bailouts too! OOOPs, Obama loves bailouts!. Bush ran big deficits! OOOPs, Obama loves REALLY big deficits! Bush was Christian! OOOPs, Oops, Obama pretends he is Christian!
@CharlesZFG For thousands of years, subsistence agriculture was the way most people lived. Then came the industrial revolution, Manufacturing. That was great. But now, today, turning a screw is not going to cut it. We are moving past that era, turning a screw is something for China to do. To be wealthy, we must lead in high tech areas, Pharma, bio technology, software, computer chips, advanced medical technology, etc. We will collapse into poverty, our K-12 sucks, no labor to stay ahead.
@CharlesZFG To your first point, If it was thought a corp with a $6 stock was going to earn 6 cents in a qtr ( 1% a quarter, or 4% a year), and earned 9 cents instead ( 1 1/2 % a quarter, or 6% a year) they would say profit was 50% above expectations. But, 50% above expectations is only 6% a year, in this example. 2nd point. After the crisis, crash, corporations profits were decimated. Corps made adjustments, fired millions, closed plants. They went from huge losses, to normal profits. So what?
he's right and wrong. YES technically the US Treasury has "spent" that $2.5 trillion. But no, it's not "gone". When there is a surplus in the Social Security trust fund, that money is held in the US Treasury, and a BOND is issued - an I.O.U. that says in the future, the Treasury will return it. Analogy: we know when you put money in the bank, they use it somewhere else, banks only have 10% cash in their vaults. So they've "used up" 90% of our money. It's only a problem when it goes bankrupt.
@ucraznmonkey i'm over simplifying of course, there's much more to it. I'm not saying I agree with this (in fact, this system was introduced by L.B.J only 40 years ago). I just don't agree with the people who treat Social Security like it is a 401K account. IT IS NOT. Yes we are forced to pay it, and no we can't control how or the money is used. But you can't mix up all the moving parts and cover it up with political ideology. Figure out how it works before repeating other people's propaganda.
@ucraznmonkey A bank has loaned out on homes, commercial real estate, etc the other 90%. Banks have only 10% cash in the bank, but the other 90% is ASSETS ( mortgages for example). The Social Security surplus was given to Treasury, Treasury did give a bond back to SS Trust Fund, BUT then Treasury spent the money. The Only way Treasury can repay the SS trust fund is to tax, print, or borrow back new money to pay off the bond. You are mixed up, confusing debt with assets.
@luvcheney1 No, I was only using the bank as an analogy, I understand basic ideas as in debt and assets. You are absolutely correct that the only way to "replenish" that spent money is by taxing or printing money. But my questions is, say if I decide to invest in U.S. treasury bonds, is that debt or asset? Isn't social security surplus kind of the same idea? Obviously in terms of definition, it's a BIG difference, and it incurs many other implications. But I mean effectively.
@ucraznmonkey A mortgage is a debt to a home owner, it is an asset to a bank. The difference is a mortgage is backed by a house, located on dirt. That is a far better asset than " I promise to pay you tomorrow, for a hamburger today". J Wellington Wimpy, 1927 ( Friend of Popeye, The Sailor )
@seesitnow4sure I believe in the right to not have a bomb landing on YOU too! Thats why we are at war. War is not at all good for the economy, and practically nobody believes that. But, nobody will grill you a cheesesburger for nothing, and nobody will build a fighter plane for nothing either. Do you expect private businesses to make tools for war for nothing? Better to make fast food joints then, isnt it, to make a buck. You have bills, dont you? Maybe not, you talk like you live with Mommy.
@seesitnow4sure Too bad Social Security and MadiCare take up 39% of the budget, and military is 20%. We could have bigger wars if it werent for the social programs.
@CharlesZFG The price earnings ratio of the S&P 500 indicates an avg profit of 5% among 500 major, important, US corporations. I see no indication at all of "more profit". That 5% average is the historical norm. I am not denying outsourcing, I am pointing out that profit margins are the same as always, over many decades. Corp tax rates in the US, avg of 39%, when 29 OECD nations avg 25% might be an issue. Or, US regulatory costs, US environmental costs, lawsuits, work comp, discourage corps.
@ZchibizroxZ I know, We see all the Canucks down here in the deserts in winter. You guys get your hips ans knees rebuilt while you "vacation". We camp in our trailer for fun, you guys get out of the freezer, and get some surgery while youre at it.
@ZchibizroxZ I take it all back, I saw you work at McDonalds. Now I respect you. I worked 40 years in restaurants. Double cheeseburger and a senior coffee, that me. You can come to US anytime.
Sooooo their only making up stories about how broke social security is because they already spent the money... but dont worry cause everythings ok....
@isawanangel2 Como diablos sabes tu que hablo espanol? Yo soy un conservativo Republicano, y yo creo en la Treke Libre. Este incuye productos, y humanos tambien. Entonces, mientras que hay demanda por trabajadores illegales, you digo que dejen que pasan todos que encuentra trabajo. Yo tambien estoy en favor de legalizar los que estan aqui illegalmente, pero que estan trabajando, y no causan crimines, ni manajando boracho. El Gobierno de los Estagos unidos paga Americanos de NO TRABAJAR! Stupidos
@isawanangel2 He never made that statement, and since we have had gold removed from circulation since 1933, and SS since 1936, we dont have capitalism. We are at best, a mixed economy.
As a one-time stimulus the retirement age should be LOWERED not raised, by one, two or three years. Scheduled to start early retirement at 62, it would become 61, or 60 or 59. Taking full SS at 66? It would start at 65 instead, or 64 or 63. When corporations have to cut jobs the FIRST thing they always do is ask senior employees to take early retirement. Same principle. When I retire next year my company will have to hire a new employee to take my position. The baby boom retirement bulge = jobs.
@Madjacker08 Go figure the total SS tax on YOUR income, at 6% for 40 years. You most likely would retire a millionaire, or close to it. But, you prefer $1600 a month for a few years.
@Madjacker08 The tax on income is 15.3% for SS. Sure, you pay half, but corporations collect taxes THEY PAY from YOU! Social security tax is embedded in your cheeseburgers, floor tile. If you figure a poor guy, earning $30,000 for age 25 to 65, at 6% ( avg dividends S&P 500 historically, even through crisis) you get $750,000 at age 65. Of course many people work their way over $30,000 a year, dont you think? THAT is what they REALLY are taking from you. AND, you have NO idea!
@isawanangel2 For me, usually it is a woman that makes me drink, and sit there with my finger on the trigger of my J- Frame Smith. But then, I remember I have some money, and I can rent one. Then, I feel better.
@1911arthur During US History, credit booms have been followed by crashes. The money supply doubled from 1995 to 2005. Easy money, low interest rates make long term projects appear profitable. These are home construction, long term loans ( mortgages), commercial construction, etc. The "bubble" in mortgages caused a bubble in derivatives ( bags of mortgages), and insurance against them. ( AIG derivatives insuring mortgages). Loose central bank policy, The Federal Reserve, caused bubbles.
@elfornse They save a lot, their govt has been adding gold reserves, they are encouraging their people to buy gold too. They are getting ready for the US to exit the stage.
@cgordon6969 China has been reducing its holding of US Treasuries. It used to BUY, not SELL! You need facts to have an opinion. Well, not really. You can have wrong ones.
@guardcorp Our Federal Budget is 23 cents of every dollar on military. 39 cents Social security/ MediCare. You are a stupid piece of America hating shit. And a liar. Grow up.
@elfornse The 14 Trill is peanuts compared to the unfunded liabilities of Social security/ MediCare. There is no way out. The economy will deflate, or inflate. All debts will be destroyed. That was actually what happened, but the govt inflated to stop it. So, bet on inflation. That means buy Gold. My assets quadrupled last 10 years, and junior mining shares are great too. I made 75% in my 401K 2009. This is the greatest opportunity in a lifetime!
@1911arthur I dont feel sorry for them either. Thats not the point. The point is that raising the rates on them will cause them to adjust their strategies. Revenue will go down, that is bad. Suppose you tax $2 million from a rich guy and give it to poor guys. Great ! But, suppose the rich guy opened a fast food place with the 2 million, had a weekly payroll of $7000. With mgt, thats $400k a year payroll. In 30 years, thats $12 million payroll. Only dopes think $2 mill is bigger than $12 mill.
Cenk Uygur is a radical Muslim from Turkey. He attacked 70% of American people calling them racist bigots. Simply sickening. Cenk Uygur is no longer an American. He just gave up US citizenship. If you hate this country so much please leave. You can leave this country anytime now you fucking traitor. Don’t let the door hit you on your way out.
Social Security is bullshit period we pay all this fucking money into SS and we dont even get HALF of what we put in back. Plus when we go to apply for SS half the time they shit on us and deny us our money like we dont have any fucking right to it. If they get to spend OUR HARD EARNED PAYCHECK on whatever the fuck they want why cant we just keep that money for ourselves? ITS OUR MONEY NOT THE GOVERNMENT'S!!!
Social Security is a Ponzi Scheme, we pay in for a life time and get NOTHING in return. Basically because our Corporate Fascist Govt has stolen the money and used it to fight two False-Flag Wars.
@M3minusGrowth How do you figure that? Because the surplus was required to be loaned to Treasury? The wars are a tiny fraction of the budget, and most of the SS money has been spent on benefits already. Only an tiny amount is in the trust fund, in relation to obligations.
This is a very misleading arguement. "Money" in the trust fund is converted into special-issue Treasury bonds, which are really nothing more than IOUs. In addition, the Treasury pays interest on the trust fund's balance by crediting the trust fund with additional IOUs. After crediting the trust fund with the proper amount in IOUs, the government spends the extra Social Security tax collections just like any other tax revenue (from heritage.org). i.e. Its really a giant Ponzi scheme!
@StepUPNJ Yes, because when the SS system needs the money out of the trust fund, the Treasury has to come up with that cash on top of everything else. Interest rates will soar!! Treasury bill will crash! How exciting! I love this crisis shit! During our crash, I watched the financial news 12 hrs a day, laughing. Got Gold?
@1911arthur That would be fair if the benefits were unlimited also. They are not. SS payouts are limited. The rich would just turn personal income into capital gains. Or, would have it in "unrealized" cap gains. Most of Buffet`s, and Gate`s fortunes are in unrealized cap gains. No taxes have been paid on it yet. You, nor Govt is smarter than the rich, dummy. The rich were going to do something with their cash, and that activity would generate tax revenue too.
I wish I thought of the same lie when I was getting allowance from my parents. "Mom, I'm getting a zero balance in my bank account." "When did this happen?" "Well, not yet, but it will...in 27 years, so up my allowance, now!"
They're both lying, imagine that! Both sides of the aisle are always lying to advance their agendas! They sell us out at every turn and screw us every chance they get to line their own pockets! All these fuckers need to be voted out of office except Ron Paul!
I LOVE you Cenk, but let's be honest, it's the Dems spending the money now. Be intellectually honest...we may be mopping up THEIR wars and fixing the economy THEY screwed up, BUT it is us who are perpetuating this economic meltdown. PULL THE DAMN TROOPS OUT NOW!
Why is he saying that the program is solvent until 2037 when all of the money is already spent? Let me see if I can understand Cenkonomics... I save up $5,000.00 to pay all of my rent for next year. I spend it all on hookers and blow. I now get to tell my landlord not to worry because I've earmarked an IOU???
A better way to look at it is that you saved up 5k and someone steals it and spends it on hookers. You find out who stole it. Do you want your money back? Or are you going to let that person keep it because they already spent it? My guess is that you are going to want your money back.
@spartan5127v2 Sure, I'd want my money back... however, we're not talking about Johnny The Next Door Neighbor that I can have arrested and/or sue. What path of recourse is available when the thief is the highest power in the land, and they "legally stole" our money by creating laws that allowed them to spend the money and write IOU's to themselves?
It is required by LAW ( Congress writes and passes laws for the Pres to approve) to give the SS surpluses to the Fed Govt to spend. This is in fact where Clintons budget surpluses came from. Spending SS surpluses!
Cenk is right about social security. If you think about it the main the reason communism, the extreme version of socialism, never works is because the money that is supposed to be used for healthcare and general welfare0 always ends up in funding wars and corruption. Money sitting around tends to get spent, especially by politicians who only care about winning elections.
They wont rest until Child Labour, no Environmental Controls, No Social Security, Minimum Wage is slashed.. Basically an 18th Century Industrialized America is back in charge and the people slaves to Big Business all over again.
@2DRonaldo Actually, that system is at work in China right now. They are getting unions, higher wages, better conditions and life. Starting out was rough for us too. But, slave labor is the best way to middle class. Chinese LOVE Buicks!
Interesting, these Unions you speak of, not Government owned? What are they called and the increase in Minimum Wage, when did this happen? I could do with some info, need the bed time read :-)
@2DRonaldo I guess you dont watch the financial news. The most reported was the strike at Honda in China. Can you Google? How about "China strikes". I think the unions are govt, but unrest and strikes is growing. They do have minimum wages. When an economy comes from zero, there is a long period that stinks. The US had it too. But, slave labor is a Godsend, because then the country is on the way up. Getting enslaved by the evil corporatist empire is great.
I'm well aware of Independant Chinese workers going on strike without the Communist Parties Scab Union's say so.. As much as i'm aware of the Armed assaults from Soldiers that comes afterwards and the life under house arrest that comes from it.
As for the last bit? What the fuck? I'm suspecting your just a troll.
@2DRonaldo I took your first inane comment as sarcasm. But yes, I am always patronizing, and ill mannered. I am flattered you put it so eloquently. My last comment is, of course, inflammatory. But, once the evil corporations develop sweat shops, your country is definitely going to improve.
Well I wasn't being sarcastic, I don't tend to bite unless provoked first;
I follow what's going on in China, one has to as it's going to be richer than America in the next 10-20 years and I was hoping you knew something I didn't.
I saw what you said as sounding batshit crazy but I gave you the benefit of the doubt because like I said above, you might know something I don't and I prefer a little Net Ettiquette to ranting.
Furthermore I like to add if you want people to listen to you rather than wasting your time?
Then engage them like an adult , not a bad tempered Monkey.. I know this is the Internet and gives you the Freedoms to being an ass without the curb stomping that come with it, but you gain no respect or win over people to your argument when you do it.
@2DRonaldo It isnt possible to convert a Lib. When engaged, they move off point when they are unable to defend a position, going from subject to subject. If you corner them, they go away. Its normal. As I said before, I took your first post to be sarcasm. Now, you say you wanted to know something, You understand the facts about China. I am at a loss how You know about China, yet missed the labor unrest. Its normal, the surplus of labor is declining, so wages, benefits have to rise. Sweat shop!
I understand what you're saying, America used to have a similar disregard for Labour and it took time to get the laws we have now put in place.
Maybe China will go through the same changes and bend the arm of the Government, but when it becomes the Richest Country in the World, will it need to change when it has most the Worlds Industry.. Doesn't China's Government control the Value of the Yuan? Rather than rely on a Monetary regulator like the IMF?
I'm not a hawk on China's business, i'm from the UK so prefer to cover my Countries business first.. China I check in on it's goings on and like I've said, all i've seen is the CPoC crack down hard on Unions that aren't subservient to the Party, i'm sure the unrest is growing.. I never said I doubted that.
But what's stopping China crack down even harder, they own the American Government in terms of Debt repayments.
@2DRonaldo The US govt has a debt of 13.3 Trillion, China holds only $750 billion. Lets not be melodramatic. They are actually selling it off, slowly, now. Labor unrest in China is a natural function of the fact that demand for Industrial labor is beginning to find it harder to find workers. Natural pressure will raise wages and conditions now. Of course, some union thug will take the credit. Funny how he was unable to do anything until the market for labor got tight, eh?
@2DRonaldo It is not at all a disregard for labor. In a highly innefficient, low tech factory, with low mechanization levels, starting out in the industrial revolution, it isnt financially possible to have everyone in a Buick, and all the 10 minute breaks in place. That takes development, and time. Same as it has anywhere that develops.
@2DRonaldo Currency rates float ever since the Bretton Woods agreement collapsed, and Nixon took us off the Gold Standard. Countries intervene. Thats not unusual, but China intervenes heavily, in an attempt to spur exports, and industrialize as quickly as possible. This will work itself out in the long run. In the meantime, it hurts US exports, but we enjoy cheap imports from them, allowing us to buy other items with the money saved by cheap prices. Its a wash, no harm.
The Quality of China's exports have seen problems in the UK, there was dodgy Sofas that were giving people Skin Rash, 2 people even died from an ullergic reaction to anti-Mold Crystals.. I would like to see China greatly improve it's Environmental controls and product safety standards.
We can't abolish Industry entirly, it would be catastrophic, we'd be in the pockets of China and if it's Industry Fails, it'll take the rest of us with it.
@2DRonaldo When I was a boy, Japan made all the crap. Then the Taiwanese, then Malaysia. Once China goes middle- class, some Marxist hell hole in Africa will probably be the lucky ones to get exploited by the evil corporations. Slaving away in sweatshops, on their way to driving Buicks.
@2DRonaldo Sure, but sweatshops, slave labor, is the first step to being a manufacturing nation, and ending your status as a 3rd world hellhole. You cant start at the top.
@2DRonaldo Just because an American corp makes cars in China, or Korea, doesnt mean it "hides money" there. ( GM). Itowes taxes to the Country it earns the money in. Just like Toyota, Nissan, Kia owe the US for the cars they build here. If the Tax Rate in the foreign country is less than the US, ( likely case), when the corp brings earnings back, it would pay The US the difference between our rates, and the rate paid. Individuals who get paid pay here, if they take it here.
This is very sophisticated propaganda.
dubified89 3 days ago
Check out channel flightfund2
flightfund2 3 months ago
Increase the requirement of work time to 20 years. As it is now, you only need to have worked 10 years to receive benefits. I don't want any lazy people taking my tax dollars. Secondly, reduce social security benefits for people with criminal backgrounds- they should pay for their time in prison anyway. Thumbs up?
GladiatorGT 4 months ago
First, cut the retirement package for all elected officials, put them on SS. Next, end the war on drugs, and all other wars. Cut the defense budget in one third. Close all military bases not in America. Get rid of the first ladies entire staff, save a million a month.
joebananatube 7 months ago
@CharlesZFG Well, do you like paying for other peoples wars? Probably not, so why is it bad to not want to pay for someone elses retirement fraud?
SuperFifthwheel 8 months ago
So which is it Cenk? There is a 2.5 trillion$ trust fund or is the money spent? You claim both in your rant. Why do you talk of "my" money when you speak of SS benefits? When the government takes my money it is no longer mine.
66605 10 months ago
Cenk,
The so called trust fund is just a bunch of government issued IOU's. There is no money there! You are really destroying your own credibility by making these ridiculous claims.
66605 10 months ago
@66605 We put it in bonds... Its money put in by us in bonds.... So what are you saying, we won't honor the bonds that we invested in ourselves? If we default on those bonds, social security will be the last issue we will have to worry about.... right?
newave123456 10 months ago
@newave123456
Bonds are not money. Who would buy these government issued bonds knowing how recklessly the US government puts itself in financial trouble? It is unlikely the USA will ever be able to pay off its debts so why pretend to have faith in government accounting tricks.
66605 10 months ago
@66605 Thats why social secuity should be an opt-out program, and not a forced program like it is today. Those funds are funds of the total deception of the government. Promised by printing more money, but what happens when the U.S. finally bankrupts (which it will). Take my money now, and in return I will never be able to get it back when I'm old enough to collect it. I'd rather have it now. I shouldnt have to pay for someone else who refused to save responsibly.
SuperFifthwheel 8 months ago
@finnemccool Point taken.
USA4July1776 11 months ago
@finnemccool
"The America Republic will endure until Congress realizes that it can bribe the public with the public's money." - Alexis de Toqueville, Democracy in America
When you mention "The feds need to pay up" where do you think the money comes from, a money tree? It's the American public's money, or money borrowed against the American public. Social Security is a Ponzi scheme, I'm paying into it for current generations yet I probably won't be getting my money back myself, it sucks.
USA4July1776 11 months ago
So what exactly is the leftist answer?
Everything is just fine... we're not going insolvent... we're not going broke... just tax the magic "rich" money tree and we will reach utopia? Is that why leftist claim to be oh-so-sophisticated?
Never underestimate the power of denial.
USA4July1776 11 months ago
@CharlesZFG greed? every company strives to save costs. why pay someone 20 an hour when you can have someone else do it for a fraction of the cost? it's not greed...it's called not wasting money and globalization
sanjor8r 1 year ago
Wait where does the Federal Government get the authorization to do these things? Don't tell me the constitution.
AroundSun 1 year ago
Hey Cenk, guess what, Social Security is bankrupt. fed setting interest rates + promise of bailout = wholesale bank failure. govt fannie/freddie w/ special govt privileges =? housing bubble. govt inflation -> high oil prices = auto crisis... the only thing that fail is govt. 14 digit debt, 15 digit unfunded liabilities, fail amtrak, bankrupt postoffice, medicaid, medicare s.s.? tax =? 22% unemployment/underemployment.
AroundSun 1 year ago
@AroundSun You're Right the Rich should pay 40% in Taxes to Put Money Back into it.
by my estiment that comes to about an extra 10 Billion a Year.....!
METALMAN4Wii 1 year ago
@METALMAN4Wii We are in such debt it's disgusting. Check this out.... youtube (dot) (com)...../watch?v=GmXxBaLVDAk
AroundSun 1 year ago
@AroundSun I know I Watched Every Documentry On Netflixs and were in Debt Because of the Two Unwinable Wars and the Rich Assholes only pay 15%. That's Right Half of what we Pay you know in the 1950's the Richest 1% Paid 90% in Taxes and our Country was Doing Great. we used that Money to Built Interstate Highways Schools Police Stations Fire Stations Libraries and so on. now our States are so Broke that the Police Pull People over for Minor things to Ticket Them. is that your kind of America...?
METALMAN4Wii 1 year ago
@METALMAN4Wii We are in debt because we have been spending without raising taxes for too long. We have been living on borrowed money and have been printing for years. The solution isnt just to kill the wealthy with taxes. It hurts all of us in the long run. My kind of America is the constitutional version which limits government control over our lives. The libertarian perspective. The view of our founders.
AroundSun 1 year ago
@AroundSun I'll halfway agree with you because I know how the Federal Reserve ( which is a Bank btw and that goes against the Constitution ) is Printing Money like it's going to Expire it needs to stop no more Printing. until Americans have the Jobs to make and spend the Money. second someone has to pay off the Debt we owe and who better then the people who crashed the Economy it's called revenge. see just because im on the Democrats side doesn't mean im a hippie in fact im alot like FDR...!
METALMAN4Wii 1 year ago
@METALMAN4Wii You are calling for class warfare
AroundSun 1 year ago
@zabaditafa I can't think of anything that the Federal Government can do better than the market.
AroundSun 1 year ago
Obama is the guy that wont learn the lesson. Fannie and Freddie are democrats failures. The economy on the verge of collapse because their failed programs. The jobs left because of high corporate taxes and regulations and unions. They had to move to survive. Look at liberal California losing businesses to NV and AZ. High taxes destroy prosperity. Low taxes is what attacts business and British musicians and everyone else.
cozyfoxstudio 1 year ago
@cozyfoxstudio dont forget that Arizona and Nevada (las vegas) survive only because we the taxpayer, subsidize the vast water diversion project to make the desert livable for modern people. (check out the Cadillac Desert). the hypocritical western and southern states live on govt doles of huge proportions, be it water diversion (which has basically killed the lower Colorado river--it no longer reaches the gulf of Cortez) or huge military bases.
gggreggg 1 year ago
@gggreggg I love this bullshit angle. Nobody said the government was bad. Too much of it is. Since public works is used by everyone and helpful the constitution allows for a limited budget. To aid everyone equally. However taking money from one person and giving cash to your voters is bullshit. Propping up failing programs with more debt is not success. Military is our republics first duty. This is the new liberals spin. Pretending your failures are equal to benifical utilities.
cozyfoxstudio 1 year ago
You don't spend money on tax cuts you liar. Tax cuts let people keep their own money. The money that was spent. Was spent on social programs that cost money. This is how you lie to your viewers. That money was supposed to be untouchable. Remember LOCK BOX. The same misleading lies that defended Fannie and freddie when Republicans warned you they would collapse.
cozyfoxstudio 1 year ago
Cenk's lies:
1:18; SS has 2.5 T "trust fund". Except that trust fund is in the form of US T-bills as the tax receipts were spent every single year they were taken. It is not an asset if you owe it to yourself.
1:30; 100% benefits, only if the US takes on new debt, prints money, or taxes. Relates to first lie of a "painless" trust fund(that doesn't exist).
At least he redeems himself at 1:53. It is bankrupt, all payouts from here will come out of the general fund.
Ragnarokgn 1 year ago
I'm against Social Security for exactly the same reasons Cenk thinks it's sustainable: The revenue collected is in effect a secondary income tax which helps the elites first and the middle-class second.
RavingDissension 1 year ago
@RavingDissension How does it help the elites? Does it go to the Federal Bank? Do they invest in government bonds?
HoGraz 1 year ago
@HoGraz
Watch the video again.
RavingDissension 1 year ago
@RavingDissension Well damn. If we did away with that the lower class would be stuck to beg for pensions or hope the economy doesn't fall and put them into 401ks. What do you say is best. I see you're into Ann Rayn..
HoGraz 1 year ago
@HoGraz
This nation needs to stop subsidizing the rich and the poor at the expense of the middle-class. There are many better retirement plans than the 401k alone. Unfortunately, the revenue the federal gov't collects when you cash in these funds makes Congress very reluctant to adopt new ideas.
What about Ayn Rand? I guess I'm an extremist anarcho-capitalist if I favorite a few of her videos. Tomorrow some conservative will tell me off for favoriting campaign finance reform. Lol.
RavingDissension 1 year ago
@RavingDissension @RavingDissension No I'm not saying you're some horrible man. Hell I don't even remember what I was getting at. Oh i was just assuming that had something to do with your view on the role of government in people's lives. That's all.
The first paragraph you sent is interesting but still leaves me with nothing. I mean you're talking about stuff that's way past me. How does the govt collect revenue when you cash in funds?
HoGraz 1 year ago
@HoGraz
401k tax. The gov't taxes about half of your earnings in this savings if you choose to withdraw for separate, less-known programs. This generates a great deal of federal revenue for Congress to do with as they wish and it acts as a disincentive to competitive programs (hence why they're less-known). I'm just saying that they're options out there for retirement that work for the middle-class's benefit.
RavingDissension 1 year ago
First he said they have a $2.5 trillion surplus. Then he said the gov already spent it on wars. Which is it?
GladiatorGT 1 year ago
@GladiatorGT The money is technically there in terms of budgets, but has also been spent. It's similar to the fact that America has a federal deficit larger than the national GDP. Everything the US does is deficit spending without a balanced budget. In a sense, the US has no money except what countries like China give to us as an allowance. The issue with social security is that more money is always coming in. So, it's not bankrupt unless the govt keeps spending it. It's all a shell game.
MarmaladeINFP 1 year ago
What an as$.
"I'll fight with everything I've got to stop those who would gamble your Social Security on Wall Street."
==
"I'll fight with everything I've got to stop you from doing what you want"
Voy2378 1 year ago
@CharlesZFG Anybody can get a current price earnings ratio of the S&P 500. It is 500 large US corps, The ratio last week was about 19.4/1. Thats $19.40 invested yields $1 profit. 1 / 19.40= 5.2%. The info you quote means profit has been rising, up to present 5.2%. Close to the historic norm. The corporations would cease to exist, if profit not restored by firing millions, closing plants. Guy making $900/wk, 2/3 going to big corps, would have extra $30/wk if profit outlawed. Big Deal!
luvcheney1 1 year ago
Go get 'em Cenk - GET 'EM!
Chubearishere 1 year ago
@CharlesZFG Demand and the market will dictate the transition. Except we are not so much a free market. This concept is known as "Creative destruction". The tractor displaced the horse. The horse displaced the man with a smaller plow on his shoulders. The smaller plow displaced the hoe. Can you observe greater capital investment, from hoe to tractor? THAT, is the case for leaving the rich alone, allow capital to develop, not let govt spend capital and destroy it?!
luvcheney1 1 year ago
@CharlesZFG No. K-12 is the issue, and that INDUSTRY is a Govt and Union monopoly. Kill it dead with vouchers. Our universities and colleges are world class, and govt is smaller in that area. We already outspend other nations on K-12. Competition is what needs to be introduced. This failure dooms future prosperity. It means surpluses of no- tech people ( low wages, unemployment), and shortages of hi tech people ( really high wages, but an industry that COULD grow more if educated labor existed.
luvcheney1 1 year ago
@CharlesZFG 2nd point is wrong, figure it out! The P/E ratio is always changing, up or down. But, it always, eventually comes back around to a norm, about 5% profit. When profits are very high, that attracts capital, and then supplies increase in that area, and profits turn back towards normal returns. As long as capital is free to move, profits will remain in a journey back to the norm. The S&P is 500 large corps, study this before making claims. You sir, have not, you have "feelings".
luvcheney1 1 year ago
@CharlesZFG Google "S&P 500 price earnings ratio". First item a chart. Right today, it was 19.45. This means $19.45 invested gets $1 profit. That is today, slightly over 5%! That IS the historic norm! So, corps have had tremendous growth in profit, getting back to 5% profits, the norm. Recall that corps were trashed, losing money. They have closed plants and capacities, fired millions. They are smaller now, and back to profitability, at normal rates. Increasing back to 5% profit, from losses.
luvcheney1 1 year ago
@Yahaziff
You grow up, you intolerant troll.
2DRonaldo 1 year ago
democracy is coming to an end ....
mojly440 1 year ago
so banks never tank, but the US Treasury does? obviously it's the opposite. an IOU from USA isn't worthless. if the US government becomes bankrupt, social security is the least of our issues. it is more like buying a bad insurance plan than an investment. GOP privatization is like its shareholders trying to cash out on a bad company. anyway, my original point was, it is not a 401K (asset), but it seems people tend to treat it as such.
ucraznmonkey 1 year ago
@ucraznmonkey The issue is that Treasury already has to sell a lot of bonds, or get more tax revenues, or have the Fed print money to run things as it is. When it has to begin repaying the Trust Fund of SS, that makes a bad situation much worse. Get it, genius? This issue will cause interest rates to rise, making the debt very hard to pay.
luvcheney1 1 year ago
@seesitnow4sure The bandits running the printing presses were given their power ( Federal Reserve) by the Progressive, Woodrow Wilson. Right wing wackos are Gold Standard lunatics, where a Federal Reserve is not desired to intervene, causing "bubbles". We are nuts, our assets quadrupling in the last decade, up 30% this year! I just love being crazy. And right.
luvcheney1 1 year ago
@seesitnow4sure With a pinko in the White House, we are cheering "End of War". OOOPs, There`s still 50,000 troops in Iraq, and a problem in Afghanistan. I believe that our little girl President got sat in a room, and was explained the facts of life. Thats why he isnt changing Bush policy. It is the correct policy. Bush was for bailouts too! OOOPs, Obama loves bailouts!. Bush ran big deficits! OOOPs, Obama loves REALLY big deficits! Bush was Christian! OOOPs, Oops, Obama pretends he is Christian!
luvcheney1 1 year ago
@CharlesZFG For thousands of years, subsistence agriculture was the way most people lived. Then came the industrial revolution, Manufacturing. That was great. But now, today, turning a screw is not going to cut it. We are moving past that era, turning a screw is something for China to do. To be wealthy, we must lead in high tech areas, Pharma, bio technology, software, computer chips, advanced medical technology, etc. We will collapse into poverty, our K-12 sucks, no labor to stay ahead.
luvcheney1 1 year ago
@CharlesZFG To your first point, If it was thought a corp with a $6 stock was going to earn 6 cents in a qtr ( 1% a quarter, or 4% a year), and earned 9 cents instead ( 1 1/2 % a quarter, or 6% a year) they would say profit was 50% above expectations. But, 50% above expectations is only 6% a year, in this example. 2nd point. After the crisis, crash, corporations profits were decimated. Corps made adjustments, fired millions, closed plants. They went from huge losses, to normal profits. So what?
luvcheney1 1 year ago
@Yahaziff
He's not a Marxist, he's not Muslim, he's Agnostic. Google for yourself if you don't believe me.
2DRonaldo 1 year ago
he's right and wrong. YES technically the US Treasury has "spent" that $2.5 trillion. But no, it's not "gone". When there is a surplus in the Social Security trust fund, that money is held in the US Treasury, and a BOND is issued - an I.O.U. that says in the future, the Treasury will return it. Analogy: we know when you put money in the bank, they use it somewhere else, banks only have 10% cash in their vaults. So they've "used up" 90% of our money. It's only a problem when it goes bankrupt.
ucraznmonkey 1 year ago
@ucraznmonkey i'm over simplifying of course, there's much more to it. I'm not saying I agree with this (in fact, this system was introduced by L.B.J only 40 years ago). I just don't agree with the people who treat Social Security like it is a 401K account. IT IS NOT. Yes we are forced to pay it, and no we can't control how or the money is used. But you can't mix up all the moving parts and cover it up with political ideology. Figure out how it works before repeating other people's propaganda.
ucraznmonkey 1 year ago
@ucraznmonkey A bank has loaned out on homes, commercial real estate, etc the other 90%. Banks have only 10% cash in the bank, but the other 90% is ASSETS ( mortgages for example). The Social Security surplus was given to Treasury, Treasury did give a bond back to SS Trust Fund, BUT then Treasury spent the money. The Only way Treasury can repay the SS trust fund is to tax, print, or borrow back new money to pay off the bond. You are mixed up, confusing debt with assets.
luvcheney1 1 year ago
@luvcheney1 No, I was only using the bank as an analogy, I understand basic ideas as in debt and assets. You are absolutely correct that the only way to "replenish" that spent money is by taxing or printing money. But my questions is, say if I decide to invest in U.S. treasury bonds, is that debt or asset? Isn't social security surplus kind of the same idea? Obviously in terms of definition, it's a BIG difference, and it incurs many other implications. But I mean effectively.
ucraznmonkey 1 year ago
@ucraznmonkey A mortgage is a debt to a home owner, it is an asset to a bank. The difference is a mortgage is backed by a house, located on dirt. That is a far better asset than " I promise to pay you tomorrow, for a hamburger today". J Wellington Wimpy, 1927 ( Friend of Popeye, The Sailor )
luvcheney1 1 year ago
@seesitnow4sure I believe in the right to not have a bomb landing on YOU too! Thats why we are at war. War is not at all good for the economy, and practically nobody believes that. But, nobody will grill you a cheesesburger for nothing, and nobody will build a fighter plane for nothing either. Do you expect private businesses to make tools for war for nothing? Better to make fast food joints then, isnt it, to make a buck. You have bills, dont you? Maybe not, you talk like you live with Mommy.
luvcheney1 1 year ago
@seesitnow4sure Too bad Social Security and MadiCare take up 39% of the budget, and military is 20%. We could have bigger wars if it werent for the social programs.
luvcheney1 1 year ago
@CharlesZFG The price earnings ratio of the S&P 500 indicates an avg profit of 5% among 500 major, important, US corporations. I see no indication at all of "more profit". That 5% average is the historical norm. I am not denying outsourcing, I am pointing out that profit margins are the same as always, over many decades. Corp tax rates in the US, avg of 39%, when 29 OECD nations avg 25% might be an issue. Or, US regulatory costs, US environmental costs, lawsuits, work comp, discourage corps.
luvcheney1 1 year ago
@CharlesZFG You didnt own your job. Life didnt work out for you? Should have acted differently.
luvcheney1 1 year ago
Hey, I've got a bright idea. How about no extortion groups that get to take our money?
SomethingSea1 1 year ago
@SomethingSea1 The extortion group that took your money is "The Federal Govt".
luvcheney1 1 year ago
@isawanangel2 Dont send me you tube references in a PM. Articulate a point. Dont be insulting. I NEVER listened to a you tube video.
luvcheney1 1 year ago
Cenk. Is. Lying. Social Security is cash-flow negative, right now. No one younger than 55 will see a dime of Social Security money. Wake up, dumbass.
twk373 1 year ago
I'm so glad I live in Canada.
ZchibizroxZ 1 year ago
@ZchibizroxZ I`m glad you do too. Stay.
luvcheney1 1 year ago
@luvcheney1 Don't you worry, I will!! I'll just "chill" in my igloo, with my pet polar bears. ;D!
ZchibizroxZ 1 year ago
@ZchibizroxZ I know, We see all the Canucks down here in the deserts in winter. You guys get your hips ans knees rebuilt while you "vacation". We camp in our trailer for fun, you guys get out of the freezer, and get some surgery while youre at it.
luvcheney1 1 year ago
@ZchibizroxZ I take it all back, I saw you work at McDonalds. Now I respect you. I worked 40 years in restaurants. Double cheeseburger and a senior coffee, that me. You can come to US anytime.
luvcheney1 1 year ago
@luvcheney1 hahah, that'll be fun.
ZchibizroxZ 1 year ago
Is Osama Bin Laden (PBUH) grandson of Mustafa Camel Ataturk (PBUH)?
yitzchak13 1 year ago
Sooooo their only making up stories about how broke social security is because they already spent the money... but dont worry cause everythings ok....
ekeyra 1 year ago
How about putting Social Security funds into private real estate?
Tsnore 1 year ago
@isawanangel2 Como diablos sabes tu que hablo espanol? Yo soy un conservativo Republicano, y yo creo en la Treke Libre. Este incuye productos, y humanos tambien. Entonces, mientras que hay demanda por trabajadores illegales, you digo que dejen que pasan todos que encuentra trabajo. Yo tambien estoy en favor de legalizar los que estan aqui illegalmente, pero que estan trabajando, y no causan crimines, ni manajando boracho. El Gobierno de los Estagos unidos paga Americanos de NO TRABAJAR! Stupidos
luvcheney1 1 year ago
@isawanangel2 I think we are on the same page then. Thats why some of us guys care about money in the first place.
luvcheney1 1 year ago
@isawanangel2 Men dont care how a woman "feels". We pretend to listen, until we get laid.
luvcheney1 1 year ago
@isawanangel2 He never made that statement, and since we have had gold removed from circulation since 1933, and SS since 1936, we dont have capitalism. We are at best, a mixed economy.
luvcheney1 1 year ago
@guardcorp You stated the 14 Trill debt is mostly do to war. Nope. Its mostly due to SS and MediCare.
luvcheney1 1 year ago
As a one-time stimulus the retirement age should be LOWERED not raised, by one, two or three years. Scheduled to start early retirement at 62, it would become 61, or 60 or 59. Taking full SS at 66? It would start at 65 instead, or 64 or 63. When corporations have to cut jobs the FIRST thing they always do is ask senior employees to take early retirement. Same principle. When I retire next year my company will have to hire a new employee to take my position. The baby boom retirement bulge = jobs.
MartinGist 1 year ago
@MartinGist Unfortunately, the baby boomers didnt have enough children. Its called "demographics".
luvcheney1 1 year ago
Man, just the language is screwed... I want to "PRIVATIZE" "SOCIAL" security. Just those words are at odds, and tell you its a bad bad idea.
Madjacker08 1 year ago
@Madjacker08 Go figure the total SS tax on YOUR income, at 6% for 40 years. You most likely would retire a millionaire, or close to it. But, you prefer $1600 a month for a few years.
luvcheney1 1 year ago
@Madjacker08 The tax on income is 15.3% for SS. Sure, you pay half, but corporations collect taxes THEY PAY from YOU! Social security tax is embedded in your cheeseburgers, floor tile. If you figure a poor guy, earning $30,000 for age 25 to 65, at 6% ( avg dividends S&P 500 historically, even through crisis) you get $750,000 at age 65. Of course many people work their way over $30,000 a year, dont you think? THAT is what they REALLY are taking from you. AND, you have NO idea!
luvcheney1 1 year ago
@isawanangel2 For me, usually it is a woman that makes me drink, and sit there with my finger on the trigger of my J- Frame Smith. But then, I remember I have some money, and I can rent one. Then, I feel better.
luvcheney1 1 year ago
what kind of ratings is cenk getting? Starting to heat up.
jackhartcup 1 year ago
@jackhartcup Not counting the folks posting from the asylum, 12.
luvcheney1 1 year ago
@luvcheney1 shit man, this guy is a STAR.
jackhartcup 1 year ago
@1911arthur During US History, credit booms have been followed by crashes. The money supply doubled from 1995 to 2005. Easy money, low interest rates make long term projects appear profitable. These are home construction, long term loans ( mortgages), commercial construction, etc. The "bubble" in mortgages caused a bubble in derivatives ( bags of mortgages), and insurance against them. ( AIG derivatives insuring mortgages). Loose central bank policy, The Federal Reserve, caused bubbles.
luvcheney1 1 year ago
@elfornse They save a lot, their govt has been adding gold reserves, they are encouraging their people to buy gold too. They are getting ready for the US to exit the stage.
luvcheney1 1 year ago
@cgordon6969 China has been reducing its holding of US Treasuries. It used to BUY, not SELL! You need facts to have an opinion. Well, not really. You can have wrong ones.
luvcheney1 1 year ago
@guardcorp Our Federal Budget is 23 cents of every dollar on military. 39 cents Social security/ MediCare. You are a stupid piece of America hating shit. And a liar. Grow up.
luvcheney1 1 year ago
@elfornse The 14 Trill is peanuts compared to the unfunded liabilities of Social security/ MediCare. There is no way out. The economy will deflate, or inflate. All debts will be destroyed. That was actually what happened, but the govt inflated to stop it. So, bet on inflation. That means buy Gold. My assets quadrupled last 10 years, and junior mining shares are great too. I made 75% in my 401K 2009. This is the greatest opportunity in a lifetime!
luvcheney1 1 year ago
@guardcorp The Govt doesnt have real assets, ones that turn profits.
luvcheney1 1 year ago
@1911arthur I dont feel sorry for them either. Thats not the point. The point is that raising the rates on them will cause them to adjust their strategies. Revenue will go down, that is bad. Suppose you tax $2 million from a rich guy and give it to poor guys. Great ! But, suppose the rich guy opened a fast food place with the 2 million, had a weekly payroll of $7000. With mgt, thats $400k a year payroll. In 30 years, thats $12 million payroll. Only dopes think $2 mill is bigger than $12 mill.
luvcheney1 1 year ago
@1911arthur You may be right, but some seniors THINK.
luvcheney1 1 year ago
This has been flagged as spam show
Cenk Uygur is a radical Muslim from Turkey. He attacked 70% of American people calling them racist bigots. Simply sickening. Cenk Uygur is no longer an American. He just gave up US citizenship. If you hate this country so much please leave. You can leave this country anytime now you fucking traitor. Don’t let the door hit you on your way out.
saper321 1 year ago
scank is such a media whore
mfsowhat 1 year ago
Privatizing social Security is meant for younger worker...it was NEVER proposed to be forced on to those who are seniors or close to retirement - LIE
Yea I think I saw the bill...it specifically stated GAMBLE YOUR SOCIAL SECURITY on wall street - LIE (WTF? Gamble? Are LIBs really this STOOOPID?)
All you earned at risk? Like having politicians spend earned and bankrupt it?
LIES & DENIAL - I guess it depends on this? Who do you trust WITH YOUR MONEY?
Libs NEED the Gov to save for them!
ChimpBama 1 year ago
Social Security is bullshit period we pay all this fucking money into SS and we dont even get HALF of what we put in back. Plus when we go to apply for SS half the time they shit on us and deny us our money like we dont have any fucking right to it. If they get to spend OUR HARD EARNED PAYCHECK on whatever the fuck they want why cant we just keep that money for ourselves? ITS OUR MONEY NOT THE GOVERNMENT'S!!!
Briena1982 1 year ago
@Briena1982 Unfortunately, "our money" doesnt exist. Most was spent on benefits paid, a tiny bit in the trust fund, loaned to the Govt.
luvcheney1 1 year ago
It's just a matter of time before Bachman and her ilk start screaming SOCIALISM!!!
"Are you going to let this SOCIAL security bankrupt our country. ITS TIME TO TAKE BACK YOUR MONEY!"
...or what ever insane thing is thinking in the moment to get applause.
:P
Joxman2k 1 year ago
Cenk is becoming the liberal Glen Beck..
nour1989 1 year ago
This has been flagged as spam show
@nour1989
"Cenk is becoming the liberal Glen Beck.."
Difference is Cenk is impartial as Liberalism is mean't to be and when he's not it's put down to error on Cenks part.
While Glenn Beck is deliberatly dishonest.
2DRonaldo 1 year ago
Social Security is a Ponzi Scheme, we pay in for a life time and get NOTHING in return. Basically because our Corporate Fascist Govt has stolen the money and used it to fight two False-Flag Wars.
M3minusGrowth 1 year ago
@M3minusGrowth How do you figure that? Because the surplus was required to be loaned to Treasury? The wars are a tiny fraction of the budget, and most of the SS money has been spent on benefits already. Only an tiny amount is in the trust fund, in relation to obligations.
luvcheney1 1 year ago
This is a very misleading arguement. "Money" in the trust fund is converted into special-issue Treasury bonds, which are really nothing more than IOUs. In addition, the Treasury pays interest on the trust fund's balance by crediting the trust fund with additional IOUs. After crediting the trust fund with the proper amount in IOUs, the government spends the extra Social Security tax collections just like any other tax revenue (from heritage.org). i.e. Its really a giant Ponzi scheme!
StepUPNJ 1 year ago
@StepUPNJ Yes, because when the SS system needs the money out of the trust fund, the Treasury has to come up with that cash on top of everything else. Interest rates will soar!! Treasury bill will crash! How exciting! I love this crisis shit! During our crash, I watched the financial news 12 hrs a day, laughing. Got Gold?
luvcheney1 1 year ago
Comment removed
elmajfudd 1 year ago
@killergames187 "Obama ... Marxist"
Tragic.
Tell me something: have you ever actually READ anything BY Karl Marx?
MarquisdeBarrabas 1 year ago
@1911arthur Hear, hear!
MarquisdeBarrabas 1 year ago
@1911arthur That would be fair if the benefits were unlimited also. They are not. SS payouts are limited. The rich would just turn personal income into capital gains. Or, would have it in "unrealized" cap gains. Most of Buffet`s, and Gate`s fortunes are in unrealized cap gains. No taxes have been paid on it yet. You, nor Govt is smarter than the rich, dummy. The rich were going to do something with their cash, and that activity would generate tax revenue too.
luvcheney1 1 year ago
I wish I thought of the same lie when I was getting allowance from my parents. "Mom, I'm getting a zero balance in my bank account." "When did this happen?" "Well, not yet, but it will...in 27 years, so up my allowance, now!"
2484Stryker 1 year ago
Very compelling. Best job Cenk has done yet, imho.
obadhai03 1 year ago
They're both lying, imagine that! Both sides of the aisle are always lying to advance their agendas! They sell us out at every turn and screw us every chance they get to line their own pockets! All these fuckers need to be voted out of office except Ron Paul!
48SunDancer 1 year ago
@48SunDancer
Ron Paul's a racist snake Oil Salesman.
2DRonaldo 1 year ago
Cenk for President.
7d7e7f7 1 year ago
finaly someone that puts out the FACTS THAT MATTER u rock man
cholorockabilly 1 year ago
How many social security numbers does Micheal Jordan's coattails have?
herodotall 1 year ago
if you can't trust the "GOVERNMENT" then who can you trust? TYT
HANDOFTHEDRAGON1 1 year ago
@HANDOFTHEDRAGON1 The TYT Army is too strong
bluesboy25000 1 year ago
I LOVE you Cenk, but let's be honest, it's the Dems spending the money now. Be intellectually honest...we may be mopping up THEIR wars and fixing the economy THEY screwed up, BUT it is us who are perpetuating this economic meltdown. PULL THE DAMN TROOPS OUT NOW!
Scroozin 1 year ago
somebody try to put Ron Paul and
AutoStudent4Life 1 year ago
2012 in the same sentence
AutoStudent4Life 1 year ago
@AutoStudent4Life no.
GuhYeahRight 1 year ago
@AutoStudent4Life
No. The guys a con merchant.
2DRonaldo 1 year ago
This has been flagged as spam show
2012 Ron Paul 2012
AutoStudent4Life 1 year ago
those 7 people that voted agianst are pure evil 0_o 4 real like satan people or something
tqrules 1 year ago
Why is he saying that the program is solvent until 2037 when all of the money is already spent? Let me see if I can understand Cenkonomics... I save up $5,000.00 to pay all of my rent for next year. I spend it all on hookers and blow. I now get to tell my landlord not to worry because I've earmarked an IOU???
sparx832 1 year ago
@sparx832
A better way to look at it is that you saved up 5k and someone steals it and spends it on hookers. You find out who stole it. Do you want your money back? Or are you going to let that person keep it because they already spent it? My guess is that you are going to want your money back.
spartan5127v2 1 year ago
@spartan5127v2 Sure, I'd want my money back... however, we're not talking about Johnny The Next Door Neighbor that I can have arrested and/or sue. What path of recourse is available when the thief is the highest power in the land, and they "legally stole" our money by creating laws that allowed them to spend the money and write IOU's to themselves?
sparx832 1 year ago
@sparx832 I`m with you. Go for the hookers.
luvcheney1 1 year ago
It is required by LAW ( Congress writes and passes laws for the Pres to approve) to give the SS surpluses to the Fed Govt to spend. This is in fact where Clintons budget surpluses came from. Spending SS surpluses!
luvcheney1 1 year ago
Cenk for president
thisismewhy 1 year ago
look in the sky!!!! is it a bird, is it a plane? no its cenk droppin elbows like motherfuck
boutdempapers 1 year ago 47
AWESOME!!!!!!!!!!!!!!!!!!!!!!!!!!
blakaxe 1 year ago 4
This honestly infuriates me and shows that neither the Democrats or the Republicans give a damn about us. We are officially a soulless corporatocracy
bluesboy25000 1 year ago
@bluesboy25000 Social Security isnt the fault of corporations. WTF is wrong with you?
luvcheney1 1 year ago
@bluesboy25000 I was saying that this country is run by the rich corporations ergo we are screwed, the exact opposite of what people thought I said
bluesboy25000 1 year ago
How can people vote Republican? How?
RaynMan718 1 year ago 3
@RaynMan718 You'll see in November just how.
calimar28 1 year ago
@RaynMan718 You poke out the little "chads". Thats why Gore lost, Dems dont know how to mark a ballot.
luvcheney1 1 year ago
@RaynMan718 How can people vote? How?
SomethingSea1 1 year ago
Cenk is right about social security. If you think about it the main the reason communism, the extreme version of socialism, never works is because the money that is supposed to be used for healthcare and general welfare0 always ends up in funding wars and corruption. Money sitting around tends to get spent, especially by politicians who only care about winning elections.
Venue0309 1 year ago
They wont rest until Child Labour, no Environmental Controls, No Social Security, Minimum Wage is slashed.. Basically an 18th Century Industrialized America is back in charge and the people slaves to Big Business all over again.
Corporatism and Fascism intertwined.
2DRonaldo 1 year ago 2
@2DRonaldo Actually, that system is at work in China right now. They are getting unions, higher wages, better conditions and life. Starting out was rough for us too. But, slave labor is the best way to middle class. Chinese LOVE Buicks!
luvcheney1 1 year ago
@luvcheney1
Interesting, these Unions you speak of, not Government owned? What are they called and the increase in Minimum Wage, when did this happen? I could do with some info, need the bed time read :-)
2DRonaldo 1 year ago
@2DRonaldo I guess you dont watch the financial news. The most reported was the strike at Honda in China. Can you Google? How about "China strikes". I think the unions are govt, but unrest and strikes is growing. They do have minimum wages. When an economy comes from zero, there is a long period that stinks. The US had it too. But, slave labor is a Godsend, because then the country is on the way up. Getting enslaved by the evil corporatist empire is great.
luvcheney1 1 year ago
@luvcheney1
"Can you Google?"
Are you always this patronizing and ill-mannered?
I'm well aware of Independant Chinese workers going on strike without the Communist Parties Scab Union's say so.. As much as i'm aware of the Armed assaults from Soldiers that comes afterwards and the life under house arrest that comes from it.
As for the last bit? What the fuck? I'm suspecting your just a troll.
2DRonaldo 1 year ago
@2DRonaldo I took your first inane comment as sarcasm. But yes, I am always patronizing, and ill mannered. I am flattered you put it so eloquently. My last comment is, of course, inflammatory. But, once the evil corporations develop sweat shops, your country is definitely going to improve.
luvcheney1 1 year ago
@luvcheney1
Well I wasn't being sarcastic, I don't tend to bite unless provoked first;
I follow what's going on in China, one has to as it's going to be richer than America in the next 10-20 years and I was hoping you knew something I didn't.
I saw what you said as sounding batshit crazy but I gave you the benefit of the doubt because like I said above, you might know something I don't and I prefer a little Net Ettiquette to ranting.
2DRonaldo 1 year ago
Furthermore I like to add if you want people to listen to you rather than wasting your time?
Then engage them like an adult , not a bad tempered Monkey.. I know this is the Internet and gives you the Freedoms to being an ass without the curb stomping that come with it, but you gain no respect or win over people to your argument when you do it.
2DRonaldo 1 year ago
@2DRonaldo It isnt possible to convert a Lib. When engaged, they move off point when they are unable to defend a position, going from subject to subject. If you corner them, they go away. Its normal. As I said before, I took your first post to be sarcasm. Now, you say you wanted to know something, You understand the facts about China. I am at a loss how You know about China, yet missed the labor unrest. Its normal, the surplus of labor is declining, so wages, benefits have to rise. Sweat shop!
luvcheney1 1 year ago
@luvcheney1
I understand what you're saying, America used to have a similar disregard for Labour and it took time to get the laws we have now put in place.
Maybe China will go through the same changes and bend the arm of the Government, but when it becomes the Richest Country in the World, will it need to change when it has most the Worlds Industry.. Doesn't China's Government control the Value of the Yuan? Rather than rely on a Monetary regulator like the IMF?
2DRonaldo 1 year ago
I'm not a hawk on China's business, i'm from the UK so prefer to cover my Countries business first.. China I check in on it's goings on and like I've said, all i've seen is the CPoC crack down hard on Unions that aren't subservient to the Party, i'm sure the unrest is growing.. I never said I doubted that.
But what's stopping China crack down even harder, they own the American Government in terms of Debt repayments.
2DRonaldo 1 year ago
@2DRonaldo The US govt has a debt of 13.3 Trillion, China holds only $750 billion. Lets not be melodramatic. They are actually selling it off, slowly, now. Labor unrest in China is a natural function of the fact that demand for Industrial labor is beginning to find it harder to find workers. Natural pressure will raise wages and conditions now. Of course, some union thug will take the credit. Funny how he was unable to do anything until the market for labor got tight, eh?
luvcheney1 1 year ago
@2DRonaldo It is not at all a disregard for labor. In a highly innefficient, low tech factory, with low mechanization levels, starting out in the industrial revolution, it isnt financially possible to have everyone in a Buick, and all the 10 minute breaks in place. That takes development, and time. Same as it has anywhere that develops.
luvcheney1 1 year ago
@2DRonaldo Currency rates float ever since the Bretton Woods agreement collapsed, and Nixon took us off the Gold Standard. Countries intervene. Thats not unusual, but China intervenes heavily, in an attempt to spur exports, and industrialize as quickly as possible. This will work itself out in the long run. In the meantime, it hurts US exports, but we enjoy cheap imports from them, allowing us to buy other items with the money saved by cheap prices. Its a wash, no harm.
luvcheney1 1 year ago
@luvcheney1
The Quality of China's exports have seen problems in the UK, there was dodgy Sofas that were giving people Skin Rash, 2 people even died from an ullergic reaction to anti-Mold Crystals.. I would like to see China greatly improve it's Environmental controls and product safety standards.
We can't abolish Industry entirly, it would be catastrophic, we'd be in the pockets of China and if it's Industry Fails, it'll take the rest of us with it.
2DRonaldo 1 year ago
@2DRonaldo When I was a boy, Japan made all the crap. Then the Taiwanese, then Malaysia. Once China goes middle- class, some Marxist hell hole in Africa will probably be the lucky ones to get exploited by the evil corporations. Slaving away in sweatshops, on their way to driving Buicks.
luvcheney1 1 year ago
@luvcheney1
I lived through a Taiwanese Christmas as a Child lol
So what happens when all the Hell Holes in the 3rd World are driving Buicks?
What then for Corporations?
Personnally I want to see the Worlds Elites run out of places to hide their wealth from the Tax Collector.. Would what your saying bring about this?
2DRonaldo 1 year ago
@2DRonaldo
And, do you believe Taiwan is better off now since their era of Sweat Shops?
Has conditions improved over there for the Worker since then? Wages? Living Conditions? Etc.
2DRonaldo 1 year ago
@2DRonaldo Sure, but sweatshops, slave labor, is the first step to being a manufacturing nation, and ending your status as a 3rd world hellhole. You cant start at the top.
luvcheney1 1 year ago
@2DRonaldo Just because an American corp makes cars in China, or Korea, doesnt mean it "hides money" there. ( GM). Itowes taxes to the Country it earns the money in. Just like Toyota, Nissan, Kia owe the US for the cars they build here. If the Tax Rate in the foreign country is less than the US, ( likely case), when the corp brings earnings back, it would pay The US the difference between our rates, and the rate paid. Individuals who get paid pay here, if they take it here.
luvcheney1 1 year ago