Thread in which the world laughs at America

[Asher]

I got the 12 month hold because the bank has a deal with the builder. Typically it is 120 days.

[notyoueither]

Naw, Sanders isn't talking about increasing the employer's contributions just the employee's if he makes more then $106,000. Currently, if you make $106,000 or less then you pay 4.2% in SSI but if you make double that then you only pay 2.1% and the rate keeps going down the more you make. Just make it so EVERYONE has to pay the same 4.2% and you'll have SSI fully funded for at least 75 years and there is no need to cut benefits the way Republicans want.

So, you want people to pay for insurance not in accord to what they are covered for, but by what they can pay?

[KrazyHorse]

Naw, Sanders isn't talking about increasing the employer's contributions just the employee's if he makes more then $106,000. Currently, if you make $106,000 or less then you pay 4.2% in SSI but if you make double that then you only pay 2.1% and the rate keeps going down the more you make. Just make it so EVERYONE has to pay the same 4.2% and you'll have SSI fully funded for at least 75 years and there is no need to cut benefits the way Republicans want.

So your point is that Sanders only wants to increase the top marginal rates by slightly more than half what your original statement of his intent was?

Also, "the rate" that's important for the purposes of incentives is the marginal tax rate, not some sort of effective tax rate.

[KrazyHorse]

So, you want people to pay for insurance not in accord to what they are covered for, but by what they can pay?

SS is not a pure insurance scheme; it is also a redistribution scheme, a ponzi scheme and a stealth taxation scheme. Remember that unlike the CPP, SS "invests"only in US government debt.

For those at the high end of the income distribution, SS behaves most like a tax.

[Zevico]

Why not replace social security with compulsory superannuation?

For that matter, is compulsory superannuation beneficial?

[KrazyHorse]

There are some places where compulsory savings programs are the extent of government interference in the retirement arena. However, that would not allow SS to serve its other purposes (which may be a good thing). In particular, the tie between the money you put in and the money you take out would break the ponzi and redistributionary aspects of the program, and a market rate of return would break the stealth taxation aspects of the program.

[Tupac Shakur]

Why not replace social security with compulsory superannuation?

Super

[giblets]

If social security is supposed to redistribute then what's wrong with raising the income cap for the payroll tax? Why should only income under $106,000 a year be taxed to subsidize the elderly?

[Zevico]

To be fair, his plan doesnt call for nukes but hyper plasmic antimatter rays from the planet Zarlaks.

Zarlaksian go home!

[KrazyHorse]

If social security is supposed to redistribute then what's wrong with raising the income cap for the payroll tax? Why should only income under $106,000 a year be taxed to subsidize the elderly?

What the **** is the matter with your reading comprehension?

[giblets]

What the **** is the matter with your reading comprehension?

What the **** is the matter with the rich paying a marginal rate higher than 35%?

[Tupac Shakur]

What the **** is the matter with the rich paying a marginal rate higher than 35%?

.

increasing marginal rates at the top end ... is the most distortionary way possible to raise taxes.

[DaShi]

The question is, is such distortion truly bad?

[Tupac Shakur]

It's bad if you care about economic efficiency, which you probably don't.

[DaShi]

Of course, I don't.