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The rich and wealthy corporations have done very well in the past decade, even as they have decimated the middle class by outsourcing their jobs. Now they want all of the budget balancing to be done in the form of cuts to Medicare, foodstamps, welfare, etc - all the programs that are keeping the middle afloat, and the poor alive.
Why don't they just vote to kill everyone except themselves and be done with it?
Obama would just be allowing the previous tax cuts for the rich expire - do they want to give one penny away? No, because they are rich, selfish and greedy.
'With the clock ticking toward an Aug. 2 deadline, senior Republicans said negotiations led by Vice President Joe Biden had ceased making headway as congressional Democrats pressed for as much as $400 billion in new taxes on corporations and the nation's wealthiest households.'
Also, SS is paid back later, so all that is a forced retirement fund...so your argument is justt silly..
This is a misleading description. Social Security is not a mandatory saving system analogous to Singapore's CPF, where some of one's income is set aside to pay for pension or health needs years down the road.
Rather, Social Security - we are really discussing the RIB program of OASDI - uses current revenue from taxes to fund the needs of those who paid taxes many years ago. One generation funds earlier generations and will theoretically one day be funded by generations to come.
This is a key distinction because a true compulsory savings fund can never become insolvent unless the money is lost through poor investments. All expenditures are funded with directly associated past revenues.
Wealthy corporations can do business wherever they like. Today the US has some of the highest marginal corporate tax rates in the world. How do our high tax rates which force internationals to leave the US for more business friendly nations help the poor in this country?
By forcing US companies to leave, how do we collect revenue and provide jobs for Americans?
Which brings up another point. The "rich" and those "evil corporations" are the ones who hire people to begin with (at least in the private sector). They don't destroy the middle class they MAKE people middle class to begin with. When was the last time a poor person hired anyone?
This is a misleading description. Social Security is not a mandatory saving system analogous to Singapore's CPF, where some of one's income is set aside to pay for pension or health needs years down the road.
Rather, Social Security - we are really discussing the RIB program of OASDI - uses current revenue from taxes to fund the needs of those who paid taxes many years ago. One generation funds earlier generations and will theoretically one day be funded by generations to come.
This is a key distinction because a true compulsory savings fund can never become insolvent unless the money is lost through poor investments. All expenditures are funded with directly associated past revenues.
No, not really...the simple concept is that one pays in a portion of income, and later in life they are provided SS benefits..yes, it is funded like a ponzi scheme, but none the less, one puts in money with a promise that tehy will recieve a portion back...so in essence, this money taken out is not used to pay for current services...but an IOU to be paid back later...
Which brings up another point. The "rich" and those "evil corporations" are the ones who hire people to begin with (at least in the private sector). They don't destroy the middle class they MAKE people middle class to begin with. When was the last time a poor person hired anyone?
Ok. So where are the jobs?
Government's hire people too.
So do small business. I have a nice income but don't consider myself wealthy. I have four employees... The biggest employment sector in the US? Small business. Not the rich. Not even the government.
No, not really...the simple concept is that one pays in a portion of income, and later in life they are provided SS benefits..yes, it is funded like a ponzi scheme, but none the less, one puts in money with a promise that tehy will recieve a portion back...so in essence, this money taken out is not used to pay for current services...but an IOU to be paid back later...
I think it's an important distinction that will become all the more clear as we are forced to confront the need for Social Security reform in the years to come. I'm afraid I don't trust the system to pay back its debts without significant reform or refunding.
The rich and wealthy corporations have done very well in the past decade, even as they have decimated the middle class by outsourcing their jobs. Now they want all of the budget balancing to be done in the form of cuts to Medicare, foodstamps, welfare, etc - all the programs that are keeping the middle afloat, and the poor alive.
Why don't they just vote to kill everyone except themselves and be done with it?
Obama would just be allowing the previous tax cuts for the rich expire - do they want to give one penny away? No, because they are rich, selfish and greedy.
'With the clock ticking toward an Aug. 2 deadline, senior Republicans said negotiations led by Vice President Joe Biden had ceased making headway as congressional Democrats pressed for as much as $400 billion in new taxes on corporations and the nation's wealthiest households.'
The rich already pay more than their fair share. Almost half of Americans pay no income tax. It's the non-tax payers who are unpatriotic. In fact many of the same people who pay no income tax want to keep raising taxes on everyone else. Easy for them to say, they have no skin in the game.
Get a clue pay roll tax.
How do you transfer wealth from the middle class to the rich? give the middle class a tax hike. The payroll tax hike in the 1990's then give the rich a tax brake. GW in the '00's.
"Easy for them to say, they have no skin in the game." Ya right the rich got a tax brake so that they could create jobs with the money. Where did they create the jobs? China and India. Every one has a skin in the game. The payroll tax is paid by the bottom half and the income tax by the top half.
I think it's an important distinction that will become all the more clear as we are forced to confront the need for Social Security reform in the years to come. I'm afraid I don't trust the system to pay back its debts without significant reform or refunding.
Agree with you on that...I don't have any confidence tha that the system will be solvant when I retire in 20 or so yrs...and even if solvent, sure someone will want to use mean testing in essence taking away contributions to be able to provide for others...
America is 100% capitalism, nothing more. Some people understand (and apply) the only value America has: for one to greedily and selfishly accumulate as materialism much as possible without any regard for anyone else.
Most people don't understand this.
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