Pay More For SS If You Are Rich

[piasabird]

http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea but I am against it.

My reasoning is this:

At the present if there is an excess collected for social security, there are no restrictions keeping our lawmakers on spending the excess collected tax. Until some sort of law is passed keeping the SS funds separate form the general fund I am against any changes to Social Security. This is just a Democrat in search of a new tax!

 

[Spencer278]

SS can't be separted from the general account until the general account starts having a surplus.

 

[dmcowen674]

Hehehehehe

I get a kick out of all the folks calling for a "Lock Box" now.

 

[1EZduzit]

Originally posted by: dmcowen674
Hehehehehe

I get a kick out of all the folks calling for a "Lock Box" now.

:laugh:

 

[conjur]

Originally posted by: dmcowen674
Hehehehehe

I get a kick out of all the folks calling for a "Lock Box" now.

Funny, eh?

 

[ZeGermans]

On the outside, it will look like a simple, hard-bound copy of the Count of Monte Cristo.

 

[CallMeJoe]

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea but I am against it.

My reasoning is this:

At the present if there is an excess collected for social security, there are no restrictions keeping our lawmakers on spending the excess collected tax. Until some sort of law is passed keeping the SS funds separate form the general fund I am against any changes to Social Security. This is just a Democrat in search of a new tax!

So poor and middle class workers deserve to be taxed on all their earnings, but it's an unfair tax increase to ask the same of the rich? If your argument is that SS collections are treated like other tax income, your point seems to be that low income workers should be taxed at a higher rate than the rich

 

[ciba]

SS is not a tax in the purest sense. It is a mandatory insurance program.

 

[Ozoned]

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea

"The plan would impose a 3 percent tax on all earnings over $90,000".

You make $90,000 you are rich. :roll:


Quick Question.

If I make $500,000 as a small business owner and I am suddenly hit with an additional 3% tax, do you think that I will just shrug my shoulders and take the hit, or do you think that I will pass this tax on to those that buy my services and products ( the poor and middle class) in the form of higher prices ?

You want this Dem or any other Politician to raise your tax, what do I care?

 

[charrison]

Originally posted by: conjur

Originally posted by: dmcowen674
Hehehehehe

I get a kick out of all the folks calling for a "Lock Box" now.

Funny, eh?

Define what gore meant by a lockbox? Well we never got any details on that....

Was the goverment going to hid the surplus under a matress?
Invest it in normal tbills?
let people paying into social security directly own those tbills?
Invest it in the market like a managed pension fund?

Do tell what did he mean?

 

[Spencer278]

Originally posted by: Ozoned

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea

"The plan would impose a 3 percent tax on all earnings over $90,000".

You make $90,000 you are rich. :roll:


Quick Question.

If I make $500,000 as a small business owner and I am suddenly hit with an additional 3% tax, do you think that I will just shrug my shoulders and take the hit, or do you think that I will pass this tax on to those that buy my services and products ( the poor and middle class) in the form of higher prices ?

You want this Dem or any other Politician to raise your tax, what do I care?

If you raises your prices then you will get less costumers and lose more money.

 

[Ozoned]

Originally posted by: Spencer278

Originally posted by: Ozoned

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea

"The plan would impose a 3 percent tax on all earnings over $90,000".

You make $90,000 you are rich. :roll:


Quick Question.

If I make $500,000 as a small business owner and I am suddenly hit with an additional 3% tax, do you think that I will just shrug my shoulders and take the hit, or do you think that I will pass this tax on to those that buy my services and products ( the poor and middle class) in the form of higher prices ?

You want this Dem or any other Politician to raise your tax, what do I care?

If you raises your prices then you will get less costumers and lose more money.

Remember, I compete with other people that think just like I do.

You raise my tax, my customers will have less money to spend on my goods and services. THAT IS WHY I OPPOSE RAISING TAX RATES.

 

[StageLeft]

social security should basically be ditched for anybody above the age of 40. Tell them it's not happening, tough sh*t.

 

[Spencer278]

Originally posted by: Skoorb
social security should basically be ditched for anybody above the age of 40. Tell them it's not happening, tough sh*t.

But if you do that how are you going to get people to pay SS to cover those over 40?

 

[ntdz]

Originally posted by: ciba
SS is not a tax in the purest sense. It is a mandatory insurance program.

More like a mandatory retirement program.

 

[ntdz]

Originally posted by: Skoorb
social security should basically be ditched for anybody above the age of 40. Tell them it's not happening, tough sh*t.

Are you kidding? That's idiotic. Why should SS be stopped for them after they've paid into it for 20+ years.

 

[ElFenix]

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea but I am against it.

My reasoning is this:

At the present if there is an excess collected for social security, there are no restrictions keeping our lawmakers on spending the excess collected tax. Until some sort of law is passed keeping the SS funds separate form the general fund I am against any changes to Social Security. This is just a Democrat in search of a new tax!

it'll only put off the inevitable collapse, not fix the underlying problem. like taking valtrex when you have herpes. no matter how much valtrex you take, you still got herpes.


and what do you propose to do with the money once separated from the general fund?

 

[Amplifier]

Steal from the rich with excessive taxes! That's never backfired before... *cough* income tax *cough*.

 

[msparish]

Originally posted by: ntdz

Originally posted by: Skoorb
social security should basically be ditched for anybody above the age of 40. Tell them it's not happening, tough sh*t.

Are you kidding? That's idiotic. Why should SS be stopped for them after they've paid into it for 20+ years.

Do I think SS should be stopped? No, it is an essential element for a healthy society. But, the US is nearly 8 trillion dollars in debt, mainly due to those in or nearing retirment. They paid into SS, but have already spent all of that money and then some. It shouldn't be the younger generations that get saddled with the debt. I think we need sweeping reform, including the removal of the taxable income cap, raising retirment ages, means testing, and reducing benefits. In addition, as the trust fund is merely IOUs--the money has already been spent by those to whom it is owed--it should be wiped clean and the system "reset."

 

[Darkhawk28]

Originally posted by: Ozoned

Originally posted by: Spencer278

Originally posted by: Ozoned

Originally posted by: piasabird
http://money.cnn.com/2005/05/13/retirement/socsec_wexler/index.htm?cnn=yes

Democrats propose making the rich pay more for Social Security by removing the Cap. On the surface this seems like a good idea

"The plan would impose a 3 percent tax on all earnings over $90,000".

You make $90,000 you are rich. :roll:


Quick Question.

If I make $500,000 as a small business owner and I am suddenly hit with an additional 3% tax, do you think that I will just shrug my shoulders and take the hit, or do you think that I will pass this tax on to those that buy my services and products ( the poor and middle class) in the form of higher prices ?

You want this Dem or any other Politician to raise your tax, what do I care?

If you raises your prices then you will get less costumers and lose more money.

Remember, I compete with other people that think just like I do.

You raise my tax, my customers will have less money to spend on my goods and services. THAT IS WHY I OPPOSE RAISING TAX RATES.

Then I suggest voting Democrat because you know that YOUR party can't balance a budget for sh*t.

 

[Genx87]

What you people fail to realize is the rich became rich because they worked hard and are smart.

You think the democrats pushing the cap will make a bit of difference? The rich will find a way around it like they do with everything else.

Yeah John Kerry and wifey made 5.6 million in 2003 but paid an 11% tax rate.
These people arent stupid. But keep thinking you can chase them around and collect. Even if you did put them to the grinder the amount of money collected would probably be so little it would make no difference what so ever.

Now the biug problem is SS tax is half paid by the employer. Employers will be stuck paying more in taxes and it might stunt the growth of higher paying jobs.

The simple fact is all this is just another bandaid on a problem that isnt going away until they fix the system.

 

[piasabird]

It doesnt matter to me if the rich are taxed at the same rate percentage as the poor. Remove the Cap, I will not care. I just want tighter control of the funds, so our politicians can not get access to the money and wast it on their pork barrell projects. Until this happens I am against all SS Changes.

 

[Train]

Originally posted by: Darkhawk28
...
Then I suggest voting Democrat because you know that YOUR party can't balance a budget for sh*t.

maybe if you guys would let us cut something or fix something without screaming that the world will end. All dems want to do is raise taxes to cover thier failing social programs. Which will in turn put more pressure on these programs, in turn requiring more taxes, etc etc. It's a stupidity cycle that im genuinely surprised the Libs have been stuck in for decades.

 

[ElFenix]

Originally posted by: piasabird
It doesnt matter to me if the rich are taxed at the same rate percentage as the poor. Remove the Cap, I will not care. I just want tighter control of the funds, so our politicians can not get access to the money and wast it on their pork barrell projects. Until this happens I am against all SS Changes.

what do you propose to do with the funds?

 

[SuperTool]

The rich people who care so much about saving SS are never going to agree to pay more payroll taxes to do so.