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Because you would never be able to go after where most of the money is earned ($100,00-300,000) unless you can attach them to the jet flying, yachting elite.
will likely end up being a tax because we may not get any of our "savings" back. At least be honest about that fact, jtur.
I can only describe what they were intended, by honest people, to do and what the public had confidence they'd do.
You are right that, like anything else, they can be mal-appropriated. But that doesn't make what you paid, even post facto, a tax.
There are couples receiving social security benefits in the neighborhood of $50K a year. That is a handsome return, for people who have no children to raise and who never saved a cent for themselves in their own retirement planning. I'd be fine if the upper limit of SS benefits were dropped to about half of what it is now, and I suspect that that by itself might save SS for everyone else, including you, for at least the lifetime of every current contributor. And it wouldn't hurt anyone who really needs the benefits of SS to escape penury.
I doubt if FDR, for whatever his faults, envisioned SS recipients "needing" their check to pay for a condo in Florida, a sailboat, and a new Escalade every two years.
I doubt if FDR, for whatever his faults, envisioned SS recipients "needing" their check to pay for a condo in Florida, a sailboat, and a new Escalade every two years.
Not at all, it was originally a system like Chili has where each person had an account but it was switched to a Pay-Go system in 39 I think.
Because you would never be able to go after where most of the money is earned ($100,00-300,000) unless you can attach them to the jet flying, yachting elite.
I am sure there are folks who make under $100K and have a high net worth value.
I am sure there are folks who make under $100K and have a high net worth value.
Sure but we do the carpet bomb approach by going after hard working people who finally start making over $250k by talking as if they are also billionaires in yachts an private jets.
your so off track from the discussion. its only about those that file returns .
your college kid isnt filing a return for 20 bucks. in fact he is most likerly a dependent on his parents taxes...
Actually he is supposed to be filing a tax return so Philip is technically correct. And the person paying him is supposed to file a 1099-MISC to document it, if it comes to more than $500 total. And SEP is actually higher than FICA. Dependent or not, it doesn't reduce self employment tax. My son earned $575 bucks one summer getting paid $20-30 an occasion. He had to pay appx $100 in SEP. What is irksome is that some would like to make it a two tiered system where his funds are paying for another's higher level of entitlement and he may not ever see anything.
Last edited by shaker281; 04-22-2011 at 12:57 AM..
No, actually, my generation is not OK. Not by the standards of what you demand for yourself. A lot of us, like me, are living on $1,000 a month, and that's a lot less than high school dropouts are making at Burger King. How much a month are you taking out of the national economy, and selfishly whining that you have to give a little back?
My generation changed your diaper and drove you to soccer practice and bailed your ass out of jail on spring break, and you come visit us once a month in the nursing home. Not really asking much in return. Just a little dignity.
Here's a deal for you. You take in your parents or grandparents, fix up the back bedroom for them, set out a plate for them at the dinner table, drive them to shuffleboard, include them on your group insurance, and then maybe they'll let you off the hook for some of that FICA. Or hold a pillow over their faces. That'll work, too.
Why ruin a perfectly good pillow when a dry cleaning bag works better?
It sounds like your real issue is with your children and the choices you've made in life. What exactly did you do to pi$$ them off? Based on your demeanor, I'd say once a month would be grueling.
I try to tell people this over and over. The super rich and investor types pay no taxes. Why? Because countries have to compete for their companies and their investment dollars. The reason they need to compete is because its ALL ABOUT THE JOBS. The people working the jobs are the ones who ultimately pay the taxes. The corporations will pay taxes but will also get corporate welfare as well. When you break it down, most pay little to no taxes.
Its ultimately for the good as well since at the end of the day the private sector employs the vast majority of us. If you want your job, its best to not tax the hand that fees ya!
Actually he is supposed to be filing a tax return so Philip is technically correct. And the person paying him is supposed to file a 1099-MISC to document it, if it comes to more than $500 total. And SEP is actually higher than FICA. Dependent or not, it doesn't reduce self employment tax. My son earned $575 bucks one summer getting paid $20-30 an occasion. He had to pay appx $100 in SEP. What is irksome is that some would like to make it a two tiered system where his funds are paying for another's higher level of entitlement and he may not ever see anything.
your wrong as well. college kids dont have to file for side work until they hit 400.00... his example was he eadned 20 bucks
Last edited by mathjak107; 04-22-2011 at 03:33 AM..
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