Posted on 02/03/2019 7:09:40 PM PST by Theoria
Kinda like the GM corporate bond holders and stock holders when Obama kicked them to the curb for his union buddies?
You mean me?
I Collect Social Security but not dividends on my now gone GM bonds.
So that was free money for your employees? When you calculated how much an employee cost you to employ you didn’t include that amount? When you set pay rates you didn’t also factor taxes and benefits paid by you for a total compensation cost package?
If an employee cannot earn enough to cover their entire compensation, including taxes and benefits paid directly by the employer, then you will lose money on that position.
You may have wrote the check but your employees earned it or you would not have hired them.
If the American people want these programs then the American people should pay for them instead of borrowing and leaving the bill for our children and grandchildren.
I have had a change in my outlook on taxe rates recently when I discovered that for most of 50s,60s, and 70s, the tax rate on the highest earners was between 50 and 70 percent. And guess what, our deficit and debt were small. It began to explode under Reagan when we reduced the top tax rate into the 30s. It leveled off under Clinton, then exploded again under Bush jr, and Obummer. It continues to explode under Trump. That’s my biggest disappointment with Trump is he’s done nothing to address the deficit or debt.
As far as give aways and such if you are going to start talking about foreign aid and such ii is a minuscule part of the US budget. I’ve extensively studied our budgets since the 80s. And currently defense, Medicare and Medicaid, social security, and interest payment on the debt make up 72% of the budget. Even if we cut the other 28% we would still have to borrow money just to cover that 72%.
What we have done seen the 80s is not working. We need to ty something new.
No, not like private sector bonds. That’s why govt bonds usually carry a lower interest rate, they’re safer for the bond holder. The free market recognizes that fact by pricing nongovernmental bonds with a higher rate of return
My understanding is that it wouldn’t work in America because of how that many people putting that much money in the stick market would distort it very badly. It’s one of the reason that it wasn’t done when social security was first created, that and the fact that the stock market had just crashed a few years earlier.
Social Security is not part of the budget and doesn’t contribute to the deficit or the current federal debt. It currently pays its own way, from money raised by the payroll tax, and will do so for 16 more years. Even then, when the payroll taxes and trust fund might run short to pay 100 percent of benefits, it would require a legal change for general fund money to be used to pay benefits.
Social security only pays people who have worked and paid the payroll tax for a number of years
Welfare is when you get paid without working
This would produce only an average income of $52,500 annually based on annuity of 7%, which are fairly easy to buy these days and still give the seller a hefty commission.
And these are among the poorer retirement investments, though I don't think it is a bad idea to put $25K or so in them just as a safety valve.
Did you learn that in your high school economics class?
That’s how I used to think, too.....before I ran my own business for 40 years.
We all did. Our employers figured out how much they needed to pay for our services, then deducted the “employer portion” from the salary they had decided to pay and that is what we were offered.I made a deal with the government 48 years ago ( not by choice). They would take money out of my paycheck every week and give some back when I retired.
The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. — Adam Smith
Yinz don’t wanna hear this, but this is a winning issue for Dems. Just like student loan forgiveness. Those two things alone could drive massive flocks to the polls on their behalf.
Hard to beat Santa Claus.
Did you learn that in your high school economics class?When you calculated how much an employee cost you to employ you didn’t include that amount? When you set pay rates you didn’t also factor taxes and benefits paid by you for a total compensation cost package?If an employee cannot earn enough to cover their entire compensation, including taxes and benefits paid directly by the employer, then you will lose money on that position.
You may have wrote the check but your employees earned it or you would not have hired them. - FreedomNotSafety
Learned some little economics in a couple of college classes, yeah.That’s how I used to think, too.....before I ran my own business for 40 years.
Income taxes - and that’s what the “payroll tax” is - create a “wedge” between what the employer pays and what the employee gets. And it feels to the employee like he pays the whole thing, and it feels to the employer that he pays the whole thing.And I respect the fact that the employer takes pride in treating employees well, and hates laying them off. Not as bad as the employee hates to be laid off, of course, but . . .
Oops. Ping to my 134 . . .
That is also true.
They are going to do 2 things:
1) Lift the cap on FICA taxes and charge every penny earned by very high earners. That will be economically destructive, but politically popular.
2) Charge a Tobin Tax on Wall Street transactions and apply it to SS. Same thing, it will be politically popular.
No way to win this battle with the general public IMHO.
We all did. Our employers figured out how much they needed to pay for our services, then deducted the “employer portion” from the salary they had decided to pay and that is what we were offered. ```````````
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What page of your high school economics textbook did you dig that load of crap from?
Half of the SS bill is paid by the EMPLOYER
ALL of the Unemployment Compensation Insurance, in most states, is paid by the EMPLOYER.
ALL of the Workers Comp Insurance is paid by the EMPLOYER.
The employee pays none of it.
When the Workers Comp and Unemployment Insurance rates go up the employee does not make less.
exactly. we all have paid thousands into it. Its not our fault that the politicians used it to finance other welfare tickets.
I’m talking about give-aways to people who expect their daily needs to be taken care of by others, which apparently you approve of.
Let’s put it to you simply. The problem isn’t not enough taxes. The problem is too much spending.
The good news for you is that over the next few years there will be plenty of bitter, envious, confiscatory Leftists to vote for who will gladly spread hard-earned wealth to those who haven’t earned it.
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