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Old October 19th, 2010, 09:15 AM   #11
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Originally Posted by Zack
But you were the first to over exaggerate here "Just lift the cap so that people like Bill Gates pay into social security just like the rest of us.



Problem solved." What you are saying is for high income earners to continue paying SS contributions so that other people don't have to fund their SS plan. Your intention is to make the unfunded portion of the plan to be funded by a tax on the rich, money they will never see as a return to them in their SS checks when they retire. Why not just end collection of the SS/Medicare and put it into the general tax funded arena if you aren't going to support it with citizens contributions?


Everyone pays into social security. Problem solve
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Old October 19th, 2010, 09:20 AM   #12
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Everyone pays into social security. Problem solve
Are you slow, stupid or what, everyone already does pay into social security, that's why everyone has a SS card and number.



Edited to add: Oh there are exceptions like congress and probably some unions, my bad.
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Old October 19th, 2010, 09:32 AM   #13
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Are you slow, stupid or what, everyone already does pay into social security, that's why everyone has a SS card and number.



Edited to add: Oh there are exceptions like congress and probably some unions, my bad.


no smart ass, everyone pays the same percentage. It's the flat tax you love so much.
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Old October 19th, 2010, 11:42 AM   #14
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Why do you think adult people need to be baby sat? If they screw it up then step over them like homeless people and tell your kids, there's an example of why you need to be responsible and save for your retirement. Still you could have some rules to preclude foolishness.


Despite what you might think Americans don't actually want THAT much freedom, they DO want to be babysat.



Most people don't have the skill to manage an investment portfolio and even the experts get left high and dry.



Twice in the last decade alone - after 9/11 and late 2008.



Most Americans will never earn enough to pay a mortgage, and buy health insurance and put their kids through college AND save enough for retirement.



The average household income in the US is just under $50k.
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Old October 19th, 2010, 12:09 PM   #15
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no smart ass, everyone pays the same percentage. It's the flat tax you love so much.
I have no idea what you are talking about. Everyone pays an amount based on their income and everyone gets a check when they file for SS benefits based on their contributions. So if you pay the max amount to SS you get the max retirement payment and if you work a couple years and then work the rest of your life under the table you get the minimum SS retirement check.
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Old October 19th, 2010, 01:03 PM   #16
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I have no idea what you are talking about. Everyone pays an amount based on their income and everyone gets a check when they file for SS benefits based on their contributions. So if you pay the max amount to SS you get the max retirement payment and if you work a couple years and then work the rest of your life under the table you get the minimum SS retirement check.


Good job Zack, you just told me what social security is. I'm talking about making social security solvent forever by just lifting the cap on people making over $106K.
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Old October 19th, 2010, 03:16 PM   #17
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Despite what you might think Americans don't actually want THAT much freedom, they DO want to be babysat.



Most people don't have the skill to manage an investment portfolio and even the experts get left high and dry.



Twice in the last decade alone - after 9/11 and late 2008.
That's why I said to start let the money be invested in tax free municipal bonds and the federal debt when interest rates are high. States could afford to pay a very good premium on municipal bonds if they were hiring thousands of employees to repair decades old infrastructure that would make the state more competitive.







Most Americans will never earn enough to pay a mortgage, and buy health insurance and put their kids through college AND save enough for retirement.



The average household income in the US is just under $50k.
Bull Pelosi! Many people own homes in that income range including me. And besides if a family can develop wealth to be passed down from generation to generation it will make the effort that much easier for the next generation. The intent of my plan is to allow people to die with a positive balance that they own and can will to their aires.
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Old October 19th, 2010, 03:19 PM   #18
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Good job Zack, you just told me what social security is. I'm talking about making social security solvent forever by just lifting the cap on people making over $106K.
So you want the rich people to fund poor people's social security. That's a tax and if you're going to use tax to fund SS then just stop the payroll deductions and fund it from the general fund.
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Old October 21st, 2010, 05:17 AM   #19
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So you want the rich people to fund poor people's social security. That's a tax and if you're going to use tax to fund SS then just stop the payroll deductions and fund it from the general fund.


This is the problem that most Americans don't realize, and I must state first that, it's so odd that so many Americans can name the players on football teams but they don't have a clue that you only pay social security taxes on the first $103 $104 or $106 some odd thousand (it changes every year) of your income. So lets say you make $10 million dollars a year, you'll only pay social security tax on the first $106 thousand and the next $9 million nine hundred thousand dollars you'll only NO social security tax AT ALL ON.



Now why is that fair? why is it fair that rich people don't pay that tax? And to make it more bizarre under the last Bush tax cuts, if you make your living sitting around the pool on your butt waiting for your divined check to arrive, another words if you make your living as an investor or if you make your living the way like Mitt Romney does (buying up companies, flipping them, breaking them apart, shipping the jobs overseas and selling them off, you know capital gains) you pay MAXIMUM 15% federal income tax. Even if like John Paulson did two years ago, he made 4.6 BILLION DOLLARS. We have billionaires in the U.S. and Warren Buffett is the one of them and also the one who outed this thing (spoke up about). The year before last he came out and said "I paid this year a 17% federal income tax, I'M A BILLIONAIRE. My secretary who's well paid, pays 35% income tax".



And Warren Buffett only paid 17%, because Bush gamed the system and rigid the rule on social security taxes (really it goes back to Reagan because Reagan re did social security). So me and other's Dems like me don't mind lifting the cap because the rich has benefited from society TREMENDOUSLY and by having a society were elderly people are not dyeing in the street or eating dog food, that millionaire will benefit as well. And that's the argument I would make for this taxation or ANY taxation (tectonically it's not a taxation but whatever). So the simple solution LIFT THE CAP.
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Old October 21st, 2010, 05:39 AM   #20
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Originally Posted by fayt87linegod
This is the problem that most Americans don't realize, and I must state first that, it's so odd that so many Americans can name the players on football teams but they don't have a clue that you only pay social security taxes on the first $103 $104 or $106 some odd thousand (it changes every year) of your income. So lets say you make $10 million dollars a year, you'll only pay social security tax on the first $106 thousand and the next $9 million nine hundred thousand dollars you'll only NO social security tax AT ALL ON.



Now why is that fair? why is it fair that rich people don't pay that tax? And to make it more bizarre under the last Bush tax cuts, if you make your living sitting around the pool on your butt waiting for your divined check to arrive, another words if you make your living as an investor or if you make your living the way like Mitt Romney does (buying up companies, flipping them, breaking them apart, shipping the jobs overseas and selling them off, you know capital gains) you pay MAXIMUM 15% federal income tax. Even if like John Paulson did two years ago, he made 4.6 BILLION DOLLARS. We have billionaires in the U.S. and Warren Buffett is the one of them and also the one who outed this thing (spoke up about). The year before last he came out and said "I paid this year a 17% federal income tax, I'M A BILLIONAIRE. My secretary who's well paid, pays 35% income tax".



And Warren Buffett only paid 17%, because Bush gamed the system and rigid the rule on social security taxes (really it goes back to Reagan because Reagan re did social security). So me and other's Dems like me don't mind lifting the cap because the rich has benefited from society TREMENDOUSLY and by having a society were elderly people are not dyeing in the street or eating dog food, that millionaire will benefit as well. And that's the argument I would make for this taxation or ANY taxation (tectonically it's not a taxation but whatever). So the simple solution LIFT THE CAP.
Again, you didn't answer the question, why not cancel the SS/Medicare deductions and just place the entitlement into the general tax fund if you are going to fund it with outside funds?



If billionaires paid SS on their entire income then they should get a SS check proportionate to their contributions don't you think? If a citizen contributing from a $40k income receives $1,000 a month then a person contributing from billions in earnings should expect a SS check in the millions, or not? If the answer is not then you should support the general fund tax paying for SS entitlements.
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