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Re: Dems Target Private Retirement Accounts 

By: ribit in FFFT | Recommend this post (1)
Sun, 10 Nov 13 10:42 PM | 54 view(s)
Boardmark this board | Food For Further Thought
Msg. 57654 of 65535
(This msg. is a reply to 57617 by oldCADuser)

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...the problem I see with the social security system is that any time there is a surplus, it gets spent on non social security related things. When there is a shortage or predicted shortage they raise social security taxes. If all the money that has been put into social security had been used for social security and nothing else (including crazy checks) there would be no problem.




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Liberals are like a "Slinky". Totally useless, but somehow ya can't help but smile when you see one tumble down a flight of stairs!




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The above is a reply to the following message:
Re: Dems Target Private Retirement Accounts
By: oldCADuser
in FFFT
Sun, 10 Nov 13 6:02 AM
Msg. 57617 of 65535

Rather then means testing, they should increase the ceiling on which wages are subject to payroll taxes. Also, those incomes which are currently exempt from withholding, such as dividends and carried interest, should also be used to compute Social Security taxes. It's bad enough that these sources of income are subject to a lower income tax rate, but they are, by definition (being considered as non-wages) totally exempt from payroll taxes. These changes alone would significantly increase the solvency and sustainability of Social Security. And if they were also subject to the taxes earmarked for Medicare, this would go along way to helping with funding issues there as well.


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