Listening to NPR this morning and heard more of the same old shit about Social Security and fixing its problems. The so-called expert did the usual bloviating about the only solution being to make some cuts somewhere down the road because it would be so difficult to increase revenues. She did the usual tap dancing around, mentioning various solutions that all boil down to reducing benefits, but never mentioned the most obvious and easiest fix: eliminate the earnings cap. Right now, any earnings above $110,100 are exempt from the Social Security tax. Eliminate that exemption, and there's an instant infusion of cash. But do any of the "experts" ever toss that out as a possibility? Nope. It's always blathering on and on about the sacrifices we peasants, the poor saps who will never earn close to $110K, are going to have to make.
Why I leave my gun in the car if I go to SS.
ReplyDeleteSilly,
ReplyDeleteThat is a tax and the Republicans will not raise taxes -And, more inportantly - they hate Social Security and always have and always will.
You can freeze your ass off in a soup line for all those fuckers care.
The Republicans are the party of the rich. And, they cater to those whom are rich.
It isn't "We The People" with the GOP it is,"Us and them".What we have here is a damned aristocracy!
Get out there and vote while you still have the right.
Oh, dynamite post!
Sarge
Right now, any earnings above $110,100 are exempt from the Social Security tax.
ReplyDeleteI didn't know that, but if you're making that kind of money you have your own retirement plan.
they hate Social Security and always have and always will.
I think that is a stupid statement, does Sarge think all Repukes are rich? I'm pretty damn sure that many of them are working at McDonald's.
They always lie about SS. They won't admit that it has a huge surplus at the moment, that it is projected to be solvent for a few decades even if nothing is done, and it has NOTHING to do with the Federal deficit. These people just have a sick austerity fetish.
ReplyDeleteAs long as I live I will never understand the people in this country electing people working so hard against their interests.
ReplyDeleteThe thing I find amazing is that so many people that depend on a Social Security retirement (mainly Tea Party) staunchly back the Republicans. Don't they understand what privatizing social security and privatizing medicare means?
ReplyDeletethe Ol'Buzzard
Billy, people making more than $110K may have personal savings, but they're going to get Social Security, too, so they should pay SS taxes on their entire income, not just a part of it.
ReplyDeleteThe Canada Pension Plan also has a cap on earnings above which one does not pay into it. It is actually fairly low and the employer matches the employee contributions. All tax deducible at the time of paying in and taxed when paid out as pension - which is base don what one has paid in. Hardly fair for the high earners to sock money away, tax free. They have other options.
ReplyDeletethere isn't a damn thing wrong with SS, they've been singing that same song for 12+ years.
ReplyDeleteso they should pay SS taxes on their entire income, not just a part of it.
ReplyDeleteI agree.