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Well we could start with some common sense tax reform, like not letting anything above $112k not be taxable for social security, a system through which old peop
by aioprisan 10y ago
Well we could start with some common sense tax reform, like not letting anything above $112k not be taxable for social security, a system through which old people are living off the backs of the young and straddling them with debts for services they will never see themselves - a ponzi scheme
- meritt 10y agoWait are you for increasing the SS cap (which is 118.5k btw) or just eliminating it entirely?
- aioprisan 10y agoI think having no cap on income for SS would make sense and make the system solvent - so basically, cut a tax only for the wealthy retired folks living off of backs of young folks, who are not exempt and they will never get there by subsidizing old folks in exchange for interest payments on private loans in the 7% range.
- meritt 10y agoBut the super wealthy -- the ones the Sanders crowd really dislike -- don't tend to have earned income anyway. They primarily benefit from capital gains which are entirely exempt from SS and Medicare entirely.
- aioprisan 10y agoThere's still a huge gap from $112 to having income in long term capital gains tax. Just because there are more things to do with capital gains tax reform, doesn't mean we can't have common sense reforms like this one.
- seanmcdirmid 10y agoThat would make SS a tax which it isn't supposed to be right now.
- aioprisan 10y agoSS IS a tax, when you have a dedicated line item in your paycheck. I would like to see some benefit down the line from that tax, wouldn't you?
- patrickg_zill 10y agoPeople who are capable of earning greater than $112k a year are probably capable of changing the way they're compensated in order to avoid the higher SS rate.