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Do you honestly believe that $80,000 - $200,000/year is a low level of income? For one person? As noted, less than 2% of the recipients have that level of income. You've left me wondering what the 2% would consider a moderate income. Do tell.
It's not a low level of income but nobody will save enough to produce that income if it means losing their SS. Christie's plan is not very good but I agree with whoever said that he deserves credit for bringing SS reform into the spotlight. Of course, that's easy for him to do because he's not going to win the nomination.
Progressive reforms to SS will either increase the taxes paid by high earners and/or will reduce or eliminate the benefits received by high earners. This will undermine support for the program among high earners, whose political strength exceeds their numbers.
Reforms which strengthen SS actuarily will either increase the taxes paid by low earners and/or will reduce the benefits received by low earners., hence will be regressive.
Not that he had any chance to be nominated by his party but I see that he has filed for an extension on his taxes therefore won't have to disclose his income for a few more months. Gotta love these guys.
Progressive reforms to SS will either increase the taxes paid by high earners and/or will reduce or eliminate the benefits received by high earners. This will undermine support for the program among high earners, whose political strength exceeds their numbers.
Reforms which strengthen SS actuarily will either increase the taxes paid by low earners and/or will reduce the benefits received by low earners., hence will be regressive.
What part of the above doesn't make sense?
Life in general is regressive, pretty much across the board. That's just the way things are.
Amen. A politician with guts -- the rarest of things! He's got my vote.
Christie's proposal isn't going to be the final fixing of SS, but let's give the man credit for speaking the truth.
Without action, SS will not be able to pay what has been 'promised'.
What are the alternatives? Continue to delay and do nothing, aka 'kick the can down the road'?
Do you honestly believe that $80,000 - $200,000/year is a low level of income? For one person? As noted, less than 2% of the recipients have that level of income. You've left me wondering what the 2% would consider a moderate income. Do tell.
NO ONE should be required to pay into a retirement system from which they can be denied all of their benefits, whether that denial is made via means-testing, IQ testing or genetic testing.
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