The problem I have with Social Security cavebear is that we are giving out so much money now the situation is a pyramid scheme which either I or my children will be caught in. If I am currently paying for today's receipients and SS is not solvent, I don't see how it will improve over my lifetime with the death rate slowing.
Announcement
Collapse
No announcement yet.
So Why Don't US Leaders Cut PAYROLL Taxes?!
Collapse
X
-
Because cutting payroll taxes would actually help the poor and middle class and stimulate economy. Why would the gov't possibly do that?"Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before. He is full of murderous resentment of people who are ignorant without having come by their ignorance the hard way. "
-Bokonon
Comment
-
Plus if they cut payroll taxes people might see how much they actually pay instead of signing their return at H&R Block and going on their merry way. No way would the politicians get to jack up those again.Pax Superiore Vi Tellarum
Equal Opportunity Killer: We will kill regardless of race, creed, color,
gender, sexual preference,or age
Comment
-
Gatekeeper,
the problem is that the payroll tax (Social Security) is supposedly an enforced savings plan. So sufficient funds have to be collected to pay for future liabilities.
It would be better if we admitted that social security is a welfare program. scrapped the tax. Scrapped social security except for people who are in a wlefare like status (and old), etc. Unfortunately that won't happen.
Comment
-
GP:
On my deposit notice, it breaks down the taxes into three categories (I don't have a state income tax or local municipality tax and I don't own land, so no state property tax):
1. FIT (Federal Income Tax)
2. SS (Social Security)
3. Medicare
They deduct "x" amount of dollars for each tax; what I'd like to see is a reduction in the FIT, not necessarily the SS or Medicare. Or doesn't the government break down its payroll tax collections? Is that breakdown just for our benefit and the taxes are just globbed together in the bureaurcracy?
Gatekeeper"I may not agree with what you have to say, but I'll die defending your right to say it." — Voltaire
"Wheresoever you go, go with all your heart." — Confucius
Comment
-
How so? I am looking at one of my deposit notices right now and it's divided into FIT and FICA. The former is the federal income tax, the latter a combination of SS and Medicare, no?
Gatekeeper"I may not agree with what you have to say, but I'll die defending your right to say it." — Voltaire
"Wheresoever you go, go with all your heart." — Confucius
Comment
-
I always wonder about people who talk about cutting payroll tax. How will we pay for SS, which is already in trouble? Unless, like GP says, we admit that the SS cannot be self contained (in a 'lockbox' to use Gore language ).“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
Comment
-
Originally posted by Imran Siddiqui
How will we pay for SS, which is already in trouble?I make no bones about my moral support for [terrorist] organizations. - chegitz guevara
For those who aspire to live in a high cost, high tax, big government place, our nation and the world offers plenty of options. Vermont, Canada and Venezuela all offer you the opportunity to live in the socialist, big government paradise you long for. –Senator Rubio
Comment
-
It'd be 'Look the evil Republicans, trying to kill off SS' .
If Al Gore proposed Bush's tax cuts, Dems would be saying how fair it was compared to other cuts .“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
Comment
-
Gatekeeper: Payroll taxes = FICA. Income taxes = FIT. That's how you're confused and contradicted yourself.
Payroll taxes are mostly a social insurance and pension program, not a welfare program. You are paying for your future benefit, so if you reduce your taxes on it, you are reducing your future potential benefit.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891
Comment
-
Originally posted by Azazel
how about raising the retirement age?
The problem is not the economics, but ideologies. Many opponents are simply opposed to SS on principle, and most mainstream politicans are too afraid to bite the political bullet that would follow raising the retirement age and cutting back benefits.If you don't like reality, change it! me
"Oh no! I am bested!" Drake
"it is dangerous to be right when the government is wrong" Voltaire
"Patriotism is a pernecious, psychopathic form of idiocy" George Bernard Shaw
Comment
-
-
65 for everyone. Touching that age would almost certainly mean political suicide.“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
Comment
Comment