Posted on 03/22/2006 12:34:54 PM PST by qam1
iows......phase out benefits for those who don't need them....or those that have ample pension money from their companies or civil service job......
the other fix would be to eliminate the cap on how much money you can earn before SS taxes stop.....I'd like to see the zillionaires pay that 8% on all their income....bet the limosine rich would become conservatives really, really fast...
It's more like 15%
As taxes go higher and higher, people will start figuring out more and more ways to avoid paying taxes.
I'm afraid our government is becoming an out-of-control monster. More and more taxes, and more and more regulation of private businesses and properties.
God Bless America!
Your solution is simply a transfer of wealth from citizens you deem too rich to those whom you don't. Take from those who saved and earned and give to those who didn't.
Societies that punish success and reward the lack of it will tend to get more of the latter.
But would you if you were 55 and had been paying for the last 35 years?
Yeah ... what other outcome is there? I mean, a majority of people who are paying now will always say "don't touch my money" and ANYONE who comes up with an idea to "fix" S.S. will be demonized till the whole stinking system collapses, and I'm not just talking about S.S.
Think of the interest rates that we will be paying in order to finance the entitlement system in 30, 40 years. Think of the cost of fuel, food, etc... at that time. The gov't will be printing money faster than the paper from the mill can dry.
You can think of all the seam's to get more taxes ... indexing, removing the cap for SS taxes, etc... But this will only cause people to hide more money or work under the table or accept other forms of compensation (stock options, etc...). These so-called "fixes" will only Hagen the collapse.
Yeah ... what other outcome is there? I mean, a majority of people who are paying now will always say "don't touch my money" and ANYONE who comes up with an idea to "fix" S.S. will be demonized till the whole stinking system collapses, and I'm not just talking about S.S.
Think of the interest rates that we will be paying in order to finance the entitlement system in 30, 40 years. Think of the cost of fuel, food, etc... at that time. The gov't will be printing money faster than the paper from the mill can dry.
You can think of all the seam's to get more taxes ... indexing, removing the cap for SS taxes, etc... But this will only cause people to hide more money or work under the table or accept other forms of compensation (stock options, etc...). These so-called "fixes" will only hasten the collapse.
Kudos to the Freeper who astutely observed that the ratio of workers supporting each beneficiary is still 16 to 1 . . . it's just that 13 of them are in places like China, Malaysia, South America, etc.
Is Social Security an entitlements if one all their life was forced to pay into it?
That money could have gone into a nice IRA or some other program to give far more benefits than the recipient gets today!
Too bad W's reform as proposed didn't solve any of social security's problems at all, according to most independent analyses. It was on the right track, but essentially just transferred future debt to current debt. Great. /sarc
I mean, how can it be done in a way that screws as few people as possible and does it as gently as possible.
Inches and degrees.
"Check back in 50 years to see if I'm right."
With any luck at all, I won't be able to do so! :)
You still have the option for an IRA, and if you're smart you're building one.
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