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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 21 of 43

Republicans love the Value Added Tax (VAT), which is a tax on consumption BECAUSE their owners only spend (consume) 30% of their income so it would be a Reagan-sized tax cut for the Uberrich and a devistating wealth reduction for the 99%.

 

To provide revenue needed to finance SS at the "current income plus $1200 Billion" the GOPers propose, what would that tax be?

 

Current annual revenues for OASDI =$813B, plus $1200B = $2013Billion/year

Current Consumer spending = $11,670Billion, 2013/11,670 = 17.2% additional tax on everything you buy, an increase of 177% above your current (6.2%) SS contribution.

 

BUT if you only spend 30% of your income, the new tax would be 17.2% of 30%=5.16%. Now that WOULD be an increase over what the Uberrich currently contribute to SS because their max payment is only 12.4% of $118,500 = $14,694 and their average annual income is $1,400,000, so their 30% consumption rate would mean they'd pay the 17.4% on  $420,000 or $73,080. For no other reason than the Republican plan as described would INCREASE SS contributions for their owners, I must conclude something was left out of the description that would prevent the rich paying as much as they do now, let alone a sizable increase.

 

 

 

Folks, the obvious and simple solution to the problem does not require scrapping the process that worked for the last 70 years.

 

"Saving" SS only requires raising the "cap" to cover 90% of income (to $250,000) and removing the tax exemption for retirement incomes above twice the average income for retirees, that is, no deduction for SS income if your total retirement income is over $77,000.

 

 

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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 22 of 43

All of my representatives are Democrats and have promised to fight this Plutocratic agenda , but for at least the next 2 years the Plutocrats are in charge , so get ready for Cuts to your benefits.

 

Thanks Again Hillary Haters

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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 23 of 43

 

I called Tom Reed's Washington office today! 

Posters--DID YOU CALL YOUR REPS??

Gee, I miss having a real President!!
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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 24 of 43

Mandm84 

I called Tom Reed's Washington office today! 

Posters--DID YOU CALL YOUR REPS??

Gee, I miss having a real President!!
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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 25 of 43

Mand wrote -Contact your representatives before it's too late. It's your money and dont let the Billionaires take it after you worked all those years to earn Social Security.

 -------------------------------------------------------------------------------------------------------------------------------------------Another example of Yelling fire in a crowded theater-Trump has repeatedly said he isn`t making any changes to Social Security citing that Seniors who worked all their life to earn SS will not be affected .Even the liberal news is not  claiming SS will   be cut..

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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 26 of 43

Trump will " Drain the Swamp " , but guess what - our Senior's and Disabled benefits are in his Swamp !!!

 

So Bamboozled are his supporter's , until it's too late for them !!! Grand Old Plutocrats for the Wealthy.

 

Trump and his CEO panel will cut FICA to give our business owners a Tax Cut and there goes Social Security as we know it , but hey the  Rich Get Richer and that's all today's Republican's care about.

 

Contact your representatives before it's too late. It's your money and dont let the Billionaires take it after you worked all those years to earn Social Security.

 

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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 27 of 43

First chronological comment says near end:

 

"For decades, Republicans in Washington and Wall Street bankers have told us that Social Security is going broke―even though Social Security has a $2.8 trillion surplus and can pay out 100% of benefits for the next 17 years and over 75% of benefits owed after that."

 

All you 50 year olds who want a 25% cut in your SS payment when you reach full SS retirement age in 17 years (vs. what the SS law stipulates), sign the petition that the first chronological comment wants you to sign.

 

(As is most often the case on this comment board, there was no link provided in the first chronological comment but an AP story I saw claims the payroll tax would be replaced by a VAT-like tax on imports. So it is not true -- as the first chronological comment claims -- that that the AP reported that no replacement funding is proposed to take the place of the current SS payroll tax. 

 

(Here is what the AP story said on this issue:

  • "One circulating this past week would change the House Republican plan to eliminate much of the payroll tax and cut corporate tax rates. This would require a new dedicated funding source for Social Security. The change, proposed by a GOP lobbyist with close ties to the Trump administration, would transform Brady's plan on imports into something closer to a value-added tax by also eliminating the deduction of labor expenses. This would bring it in line with WTO rules and generate an additional $12 trillion over 10 years, according to budget estimates. Those additional revenues could then enable the end of the 12.4 percent payroll tax, split evenly between employers and employees, that funds Social Security, while keeping the health insurance payroll tax in place." 

 

(I am not either favoring a VAT or favoring getting rid of the payroll tax but just pointing out the obvious... look at the actual source behind any comment posted here.)

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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 28 of 43

PC - my info was not a petition site, just the information from call from Congress on how gutting social security could be spun as "good governance" aka "saving social security".      Sorry for any confusion!

 

The LA Times article is the newest outing of the Donald / GOP smoke and mirror plan to destroy Social Security.      ( see 4/10  link below).     

PRO-LIFE is Affordable Healthcare for ALL .
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Re: TRUMP TO DISMANTLE SOCIAL SECURITY - THE REST OF THE STORY

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Message 29 of 43

This is just an idea that is being kicked around - replace it with a VAT.

 

You can read the AP article which is imbedded within the LA Times article which just mentioned this idea -

 

http://bigstory.ap.org/article/c41026ee514845b8b044e3829e3c9d0c/trump-and-taxes-back-drawing-board-s...


* * * * It's Always Something . . . Roseanne Roseannadanna
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Re: TRUMP TO DISMANTLE SOCIAL SECURITY

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Message 30 of 43

@ChasKy53 wrote:



Nope, he is representing the will of less than 24% of eligible voters. (and actually many who voted for him are now in disagreement with many things that Trump is doing)

 


---

Of course you have figures on that?  I voted for Obama but disagreed with him on many things he was doing.  People don't always completely agree with those they voted for.

 

Are you telling me I can't post on this topic?  Making it personal again?

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