Obama Turns FDR Upside Down! (salary, security, Democrats, Barack Obama)

[Delta Planter]

Sen. Barack Obama has a bad idea for "extending the life of Social Security." He has proposed applying the Social Security tax to incomes above $250,000, in addition to the current tax on incomes up to $102,000. It's unfair, he explained, for middle-class earners to pay Social Security tax on "every dime they make" while the very rich pay on "only a very small percentage of their income."

Gets stranger by the day, doesn't it?

Obama Turns FDR Upside Down - WSJ.com

[newtoli]

I believe the current system in place is - you pay social security on your income up to $102,000. Any income above $102,000 does not get taxed on social security.

So:
Person A makes $100k and pays 10% social security on $100k (their entire salary)
Person B makes $500k and pays 10% social security on their income up to $102k, and does not pay social security on the other $398k.

So Person A makes $100k and pays $10k in SS Tax.
Person B makes $500k and pays $10.2k in SS Tax.

Is that fair?

[FightinPhils]

I agree with Obama on this one.

[LBSer]

well yes. that is very fair!! that's why the rich become richer... those filthy rich basstards should pay equally as the hard working tax paying individuals.

[jmarquise]

god people are morons. barack obama is the biggest idiot this country has ever seen and he is going to get crushed in november.

[bbkaren]

Are those rich folks gonna get more OUT of social security when they retire? If so, then I'd say maybe there's a point. If not, then it IS fair the way it is.

[jmarquise]

Originally Posted by bbkaren

Are those rich folks gonna get more OUT of social security when they retire? If so, then I'd say maybe there's a point. If not, then it IS fair the way it is.

exactly. democrats can only punish the successful so much. if they get 4x as much money out of it, then it is fair.

[MamaBee]

It's not fair to require ANY individual to put money in if they don't want to. This system was started as insurance...now it's a required tax.

bbkaren - you're awesome. I think I'd give you reps on almost every post if I was allowed.

[jmarquise]

Originally Posted by MamaBee

It's not fair to require ANY individual to put money in if they don't want to. This system was started as insurance...now it's a required tax.

bbkaren - you're awesome. I think I'd give you reps on almost every post if I was allowed.

trust me, if I could opt out of social security, I would do so now.

[dmnari]

Everyone gets the same amount from Uncle Sam for social security when they retire, so why should those making $500,000 pay more? I would advice those making $500,000 to opt out of social security program if they can, they will be better off investing in their own private retirement plan. Social security might not be around when the time comes for them to collect it.

I don't understand your idea of fairness.