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The poor actually pay a far higher share of FICA taxes than rich folks do- they’re making a straight hourly wage and come nowhere close to the FICA phase out.
The poor also collect a far higher share of the Social Security that FICA funds.
Surely you aren't serious?
The humanitarian award for 2022 goes to... well anybody other than you at this point, because you don't think food and shelter are needs?
This is a question of economics, of course. Economics is the study of the efficient allocation of scarce & finite resources (such as food & shelter) in a world of infinite wants and desires.
Given a handful of white boards and some graduate level mathematics, first proven by Nobel Laureates Kenneth Arrow (1972) & Gerard Debreu (1983), any economist can prove -- make that any economic graduate student can prove -- that food and shelter & WiFi & Teslas are all finite & scarce resources and are efficiently allocated via our pricing system, which maximizes overall societal welfare & GDP, satisfying:
The First Fundamental Theorem of Welfare Economics -- The First Fundamental Welfare Theorem asserts that market equilibria are Pareto efficient. In other words, the allocation of goods in the equilibria is such that there is no reallocation which would leave a consumer better off without leaving another consumer worse off.
The Second Fundamental Theorem of Welfare Economics -- The Second Fundamental Welfare Theorem states that every Pareto efficient allocation can be supported as an equilibrium by some set of prices.
Now - what point did you think you were trying to make again?
The poor also collect a far higher share of the Social Security that FICA funds.
True, though the source of their income typically collects these taxes while wealthier people frequently aren't paying into the system while generating their income.
In other words, labor is subject to these taxes while capital is not-right?
I'd take a multi million personal retirement account over a 1,000 dollar a month SS payout to live on in my glory years.
Excuse me but s/he said that needs don't exist. Needs. Says an awful lot about a person's mindset when they flat out don't believe people absolutely have needs.
Again, tell me what "need" you think exists and why.
Quote:
Originally Posted by DubbleT
And even if the goal is to only meet the most basic needs that doesn't say much for those people either, are we advocating to bring slavery back or what?
True, though the source of their income typically collects these taxes while wealthier people frequently aren't paying into the system while generating their income.
In other words, labor is subject to these taxes while capital is not-right?
I'd take a multi million personal retirement account over a 1,000 dollar a month SS payout to live on in my glory years.
Why should one pay a "fair share" of a dedicated tax if they will likely never receive a "fair share" of the benefit? Would you want to chip in on a pizza with a group of friends if you weren't going to be having a slice?
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