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Re: TO PRESERVE SOCIAL SECURITY

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Message 71 of 74

Of course from a Plutocratic view , it's Stupid !!!

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Message 72 of 74

No doubt something needs done. That's why I hope the Dems take the House and Senate back. Without that happening, anything done will be on the backs of our seniors and the middle class and below.

 

I like some of those proposals.


Democrats in 2020
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Re: TO PRESERVE SOCIAL SECURITY

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Message 73 of 74

Stupid proposal for lots of reasons but the biggest is that it turns the program into a welfare program rather than an insurance program.

 

From the article

The bigger issue is that Murray's proposal would raise the payroll tax, albeit modestly relative to other proposals from her own party, on those earning $400,000 or more in earned income. Even though taxing high earners is the single most popular way of fixing Social Security, based on a number of national surveys, lumping an extra tax on the wealthy wouldn't provide them with any additional Social Security benefit come retirement.

 

I know what you're probably thinking: "The rich aren't reliant on Social Security, so they should pay extra tax to shore up the Social Security Trust." However, a maximum taxable-earnings cap -- the aforementioned $128,400 figure in 2018 -- exists because there's also a maximum monthly payout from the Social Security Administration at full retirement age. In other words, it's not "fair" to add a 2% payroll tax to an extra, say, $5 million in income if that individual won't see an extra cent in Social Security benefits. 

 

Perhaps someday, sooner rather than later, I hope, they will devise a passable plan for reform that will be fair, save the system and preserve the nature of the program.


* * * * It's Always Something . . . Roseanne Roseannadanna
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TO PRESERVE SOCIAL SECURITY

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