Reply
Highlighted
Honored Social Butterfly

Re: TO PRESERVE SOCIAL SECURITY

258 Views
Message 71 of 74

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

Report Inappropriate Content
Highlighted
Honored Social Butterfly

Re: TO PRESERVE SOCIAL SECURITY

257 Views
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.


Only Thing Man Learns From History Is Man Learns Nothing From History
Report Inappropriate Content
Highlighted
Honored Social Butterfly

Re: TO PRESERVE SOCIAL SECURITY

253 Views
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.

Report Inappropriate Content
Highlighted
Honored Social Butterfly

TO PRESERVE SOCIAL SECURITY

250 Views
Message 74 of 74
Report Inappropriate Content
cancel
Showing results for 
Show  only  | Search instead for 
Did you mean: 
Users
Announcements

Thursday, August 6 – Coronavirus Tele-Town Hall Event

1 p.m. ET - Coronavirus: Answering Your Most Frequent Questions

Call: 1-855-274-9507

Top Authors