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Trillion Dollar Coin Idea Dies Sudden Death

John389 Wrote: Jan 14, 2013 9:07 AM
No, SS is the most progressive of taxes we have in USA. The benefits do increase as your salary and contributions increase, but not in a linear fashion and there is a cap on payouts. For instance if you are in the highest salary bracket i.e. paying the maximum SS tax before you retire you do not get twice as much in benefits as someone making half the salary as you. While SSI benefits are abused by many, eliminating the abuses will not change the SS balance sheet enough to make it solvent.

At long last, a stupid, as well as illegal idea dies on the vine. Bloomberg reports
Treasury, Fed Oppose Using Platinum Coin to Avoid Debt Limit

The U.S. Treasury Department and Federal Reserve oppose the idea of minting platinum coins as a way to avoid the U.S. debt ceiling, according to a statement from Treasury...