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Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,766,887 times
Reputation: 3587
Quote:
Originally Posted by jimhcom
There may have been a time when the $106,000 cap on Social Security made sense, but today it does not. That time would have been before Congress stole the money from the trust fund. That time would have been when wealth was more evenly distributed between the working class and the ruling class. That time would have been when the economy was in better shape than it is now. Capping the Social Security tax amounts to a tax break for the rich at a time when neither the program nor the country can afford it. Does it make sense to have to borrow money for benefits beginning in 2017 when the rich are not paying tax on their total income? It is time to end tax breaks for the wealthy and start doing what makes sense.
It never made sense to me and never should have been put there. Yes, remove it.
There may have been a time when the $106,000 cap on Social Security made sense, but today it does not. That time would have been before Congress stole the money from the trust fund. That time would have been when wealth was more evenly distributed between the working class and the ruling class. That time would have been when the economy was in better shape than it is now. Capping the Social Security tax amounts to a tax break for the rich at a time when neither the program nor the country can afford it. Does it make sense to have to borrow money for benefits beginning in 2017 when the rich are not paying tax on their total income? It is time to end tax breaks for the wealthy and start doing what makes sense.
Jimhcom, i have a much better solution just end the program all together. It is government sponsored stealing and an unfair tax on both citizens and small business owners. No person should be obligated to pay for another citizens retirement.
This is a job for private charities and the kindness of individual citizens, no one should be coerced into paying into such a program. It destroys wealth and transfers of wealth for many Americans who may not live long enough to collect, or many younger workers like myself, that are taxed to pay for those current receiving benefits. There is no way in heck this Ponzi-Scheme will last long enough for me to benefit from it.
I'm going to pay into the program for more than 60-70 years of my life, so cry me a river when you whine and moan about working for 45 years. Many younger people in my generation will be paying into this program for more than 55-60 plus years. I could do much better with my own money as opposed to being forced to give it to someone else. I've paid into this public stealing since i was 16 and I'll most likely have to pay into until I'm 72.
I would be much more generous with my hard earned dollars if i had more control of them. I'm for helping the medical pool, but not the Social Security Pool. It needs to come to an end!
It appears to be quite popular with our left-leaning posters here on CD. Pretty pathetic isn't it?
Naw, what you don't get is that most left wing wing (I don't ascribe to leaning) folks are as successful as our right wing cousins, the difference is that we understand that; a. our success isn't the result of some imaginary individual effort. b. that as citizens of a great country we owe as much as we have received and c. we live in a S-O-C-I-E-T-Y, which means that the we care for the least among us regardless of how they got that way.
I was actually pleasantly surprised to see that I stopped having the SS taken out of my paycheck at a certain point this year. I don't know that I'd be thrilled if the cap was removed and yes its selfish because even though I pay SS (up to the limit) and medicare, I'm on an H1B visa and am ineligible for those benefits. I have no problem with being ineligible but it is kind of odd that I am forced to pay them.
*puts on flame retardent suit for being an H1B worker*
The typical investor will have to depend upon luck to do better than he would under SS.
Care to explain that statement and add some facts to demonstrate your fantasy? That must be the most ridiculous thing I have ever read.
Even if after taxes, I took the 15% that I contribute and my employer contributes to SS and put it in an online CD, then at a minimum...with no risk and with FDIC insurance up to 250K...I can get something around 2 to 3% in today's market. In better years, it might be 5 or 6%. If I put in an IRA, Roth IRA, or 401K, I can get better than that with compounding and the tax benefits. Now...if I die...that money is mine and goes to my heirs. I not only keep my return, but the principal is mine.
With SS, none of the principal is mine. If I die before I turn 65 years old, I get nothing and my heirs might get a survivor benefit. There is no guarantee that I will receive any benefits or at what age I will receive any benefits. The goal post can be moved at any time. If the gov't decides to "means test" benefits, then I may get nothing just based on being responsible and saving for my own retirement.
Jimhcom, i have a much better solution just end the program all together. It is government sponsored stealing and an unfair tax on both citizens and small business owners. No person should be obligated to pay for another citizens retirement.
This is a job for private charities and the kindness of individual citizens, no one should be coerced into paying into such a program. It destroys wealth and transfers of wealth for many Americans who may not live long enough to collect, or many younger workers like myself, that are taxed to pay for those current receiving benefits. There is no way in heck this Ponzi-Scheme will last long enough for me to benefit from it.
I'm going to pay into the program for more than 60-70 years of my life, so cry me a river when you whine and moan about working for 45 years. Many younger people in my generation will be paying into this program for more than 55-60 plus years. I could do much better with my own money as opposed to being forced to give it to someone else. I've paid into this public stealing since i was 16 and I'll most likely have to pay into until I'm 72.
I would be much more generous with my hard earned dollars if i had more control of them. I'm for helping the medical pool, but not the Social Security Pool. It needs to come to an end!
Very interesting wording coming from someone who believes we should have a public option.
The hypocrisy aside, I agree with your above post for the most part.
Naw, what you don't get is that most left wing wing (I don't ascribe to leaning)
Interesting. Let's see:
Quote:
Originally Posted by ovcatto
Au contraire!
As a "liberal" I am more than happy to discuss the Constitution especially since I have found few "conservatives" to understand
I'm confused.
Quote:
Originally Posted by ovcatto
folks are as successful as our right wing cousins, the difference is that we understand that; a. our success isn't the result of some imaginary individual effort.
What YOU don't get ovcatto is that many of us who are successful are so primarily as a result of our individual effort. When we work 80 hour weeks, risk our life savings, do without, and study our a55es off to learn, WE DON"T consider that effort imaginary.
Quote:
Originally Posted by ovcatto
b. that as citizens of a great country we owe as much as we have received and
Are you serious??? The top 25% of income earners pay 86% of all federal income taxes. What are you talking about?? Good lord.
Quote:
Originally Posted by ovcatto
c. we live in a S-O-C-I-E-T-Y, which means that the we care for the least among us regardless of how they got that way.
This may come as a surprise, but many of us feel that what is best for Amercian S-O-C-I-E-T-Y (let's not forget, this isn't Russia or France) is:
a) help those who TRULY need it
b) reward success (you see the funny thing about doing this is it encourages people to be successful and work hard. I know, shocking!!!)
c) do NOT encourage irresponsible, lazy, and bad behavior by taking from those who are responsible and giving to those who are not. (you see, the funny thing about rewarding and/or enabling lazy and irresponsbile behavior is that it encourages such behavior. Again, I know, SHOCKING!!!)
Sometimes you just have to consider the Liberal mentality for a second and sit back and say, Wow. You would think it should be so simple and yet somehow, for so many people, it's not.
Last edited by jdevelop2; 09-30-2009 at 01:14 AM..
IMHO - it is time to simply get rid of Social Security all together
Phase it out.
Let the American people decide what to do with THEIR money.
Enough of this robbing Peter to pay Paul Ponzi scheme known as Social Security.
I got out of it - and it was one of the best things I ever did
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