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So, instead of doing these cuts why not take the money and put it into pubic work projects (stuff like sewer and bridge repairs or upgrades...not stuff like high speed rail)?
Actually there is that bipartisan bill that does almost that. First time I can remember in quite a while that a bill got 100% approval from both Dems and Repubs.
Yeah, sure, benefits...And the other BS that 50% only pay 1% of taxes?? With Federal, State and local excise taxes, it's probably a higher % that the bottom 50% pay than the top 1% pay of their income.
We arent discussing state and local taxes, the discussion is FEDERAL.. but your "probably higher" isnt really a fact is it?
The payroll tax funds Social Security, and the liberals shouldn't be rooting for this "contribution reduction" to continue at all.
It is to the detriment of a program they consider to be critical, on their side of the aisle.
FICA is unfair to workers that entered the workforce during the 80s and after. The majority of baby boomers retiring now did not pay their fair share into the system when FICA was as low as 1% + 1%. So why are workers now paying six times as much of their income (15.3% total FICA as of 1990) toward this system when from the 30s to the 80s they only payed 2% to 8%? That's the reason the system is in danger, because workers from the earlier era did not pay their fair share into it. It's only fair to bring it back to the average rate since the system began or cut benefits for those that are retired/retiring now.
So, instead of doing these cuts why not take the money and put it into pubic work projects (stuff like sewer and bridge repairs or upgrades...not stuff like high speed rail)?
They tried that with the stimulus bill. The reason why it failed is because there was no peminant economic benefit. once the bridge, sewer repairs are complete there is no revenues to generate. This is why the CBO stated the Obama stimulus bill will actually reduce the GDP by 2% a year, beginning in 2015. The debt and the interest actually has to come out of the economy with no economic benefit being generated.
You mean on average $1000 in our pocket. Sorry, I like the $1000 I had 11 months ago. Republicans are so quick to take from the middle class but dead set against taking anything from the people who can afford it the most. Lets see how quick they are to let the Bush tax cuts expire, which benefits the rich disproportionately.
Glad you posted that, I care, some of us care here, too bad most don't here, they are too busy bashing or spend their days here.
FICA is unfair to workers that entered the workforce during the 80s and after. The majority of baby boomers retiring now did not pay their fair share into the system when FICA was as low as 1% + 1%. So why are workers now paying six times as much of their income (15.3% total FICA as of 1990) toward this system when from the 30s to the 80s they only payed 2% to 8%? That's the reason the system is in danger, because workers from the earlier era did not pay their fair share into it. It's only fair to bring it back to the average rate since the system began or cut benefits for those that are retired/retiring now.
Doesn't the cost of living have something to do with it? Did the wages go up since the 60's thru 2003?
Unfair maybe, who's going to help you? We already have lost $1000 today.
We arent discussing state and local taxes, the discussion is FEDERAL.. but your "probably higher" isnt really a fact is it?
I'm sure it is a fact. If you look at the 24% of the precious income taxes that the top 1% pay, it only equals out to 11% (.24 * 45%) of total revenues the US gov't takes in. Where do you think the other 89% of US Govt revenue comes from?? Have you seen all the excise taxes that exist? There's easily over 150 of them as a whole...the biggest being the gasoline tax., The working class / middle class supports local municipalities and states --- which reduces the burden on the US Gov't having to issue aid to these states. Don't pretend that the Federal gov't and the thousands of local municipalities operate in separate bubbles. The middle & working class pays the majority of the costs to run this country - from local municipalities, to the state level, to the federal level. Period.
Why are you liberals so focused on the income tax brackets? What about the fact that social security taxes only apply on income up to $106,800?
That's something I, as a conservative, have quite a problem with.
The stop taxing over $106,800 because benefits are capped. If they charged social security till someones earnings of $1M, their social security check would be $25,000 a month..
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Glad you posted that, I care, some of us care here, too bad most don't here, they are too busy bashing or spend their days here.
