A fix for social security.

The problem I have with eliminating the cap is that those high income tax payers are already paying in much higher tax brackets of 28, 33 and 35%. And Obama want to raise the 35% bracket to over 40% by eliminating the Bush tax cuts and adding on additional increases for Obamacare.

Eliminate the cap and now the top bracket goes to over 52%. And several states add another 10-12% to that in state income taxes so now you are paying over 60% in the top bracket. Yeah, we used to have crazy high tax brackets like that before, but back then hardly anybody was in them, or there were loopholes which don't exist today where they didn't have to pay anything. If a person is running a small business and having to pay over 50% in taxes I really think that's going to kill jobs.

Some even propose eliminating the cap but not giving a better SS benefit to those who would pay much more into the system. You might as well change the name to "Social Welfare" if you do that. Then again, it's becoming more and more of a welfare system rather than a retirement program.

LadyJazzer wrote: Yeah, the trickle-down supply-side mythology has worked so well.... NOT.....

You need some new material... This incessant regurgitation of your failed Sovereign Citizen, Jeffersonian b.s. is tiresome...

Once again you are looking at talking points not actual facts. Would you rather have rich people who support the biggest welfare program in the world? Or the Cuban model where doctors earn about the same amount as the kids who hustle outside the foreign resorts?

The poor in America are at a higher income level than the rich in Cuba and other income parity places like Vietnam.

With your program of penalizing the people willing to risk and innovate, you discourage economic expansion. Want to see this on a corporate size level? Check out the US pharmaceutical industry versus the rest of the world, where do the innovative new products come from? The US where risk is rewarded. In the socialized medicine parts of the world with prices capped on drugs, there is no reward for the companies willing to spend millions on new drugs and testing.

Please spare me the "job-creators" risk-and-innovate nonsense... The percentage of "job-creators" in that 345,000 of people in the top 1% is about 2% of the 1%...

Republicans really want to bury Social Security, not save it.

The Liberals GOP Twin wrote: Republicans really want to bury Social Security, not save it.

Another talking point, but highly unlikely. You really think any Republicans could ever be elected again, if they did eliminate Social Security? There are more people on Social Security than ever before and they vote at a very high rate.

PrintSmith wrote: If you stop the defense spending, there will not be anyone trained to use the weapons we have because there will be no defense spending.

Obviously, I meant no more aircraft carriers, trillion dollar bombers or any new fighter aircraft, tanks, missles, guns, bullets......etc etc etc.. We have enough

And why do thinking people even talk about Social Security as if its a problem that has to be addressed? Our money is being wasted all over the place so don't talk about just the expendetures that actually benifit us..SS and Medicare ARE OFF THE TABLE!

BEARS wrote:

PrintSmith wrote: If you stop the defense spending, there will not be anyone trained to use the weapons we have because there will be no defense spending.

Obviously, I meant no more aircraft carriers, trillion dollar bombers or any new fighter aircraft, tanks, missles, guns, bullets......etc etc etc.. We have enough

And why do thinking people even talk about Social Security as if its a problem that has to be addressed? Our money is being wasted all over the place so don't talk about just the expendetures that actually benifit us..SS and Medicare ARE OFF THE TABLE!

I don't think it is off that table. Even the socialist meccas of Europe have been raising retirement ages and freezing benefits since people are living twice as long as was expected when these programs were created.

90 is the new 60

FredHayek wrote:

BEARS wrote:

PrintSmith wrote: If you stop the defense spending, there will not be anyone trained to use the weapons we have because there will be no defense spending.

Obviously, I meant no more aircraft carriers, trillion dollar bombers or any new fighter aircraft, tanks, missles, guns, bullets......etc etc etc.. We have enough

And why do thinking people even talk about Social Security as if its a problem that has to be addressed? Our money is being wasted all over the place so don't talk about just the expendetures that actually benifit us..SS and Medicare ARE OFF THE TABLE!

I don't think it is off that table. Even the socialist meccas of Europe have been raising retirement ages and freezing benefits since people are living twice as long as was expected when these programs were created.

No, its the only thing on the table and thats whats outragious! It's like you taking a pay cut so you decide to starve your kids rather than give up your vacation to Branson Missoura...You don't need that vacation

LadyJazzer wrote: Please spare me the "job-creators" risk-and-innovate nonsense... The percentage of "job-creators" in that 345,000 of people in the top 1% is about 2% of the 1%...

Who said we are talking just about the top 1% (and your 2% claim is dubious, but to keep things shorter I'll save that for later)?

The cap for SS is about $107K. These aren't 1%'ers but rather 10%'ers.

You've made two proposals, one is 6.2% added to what they pay now, the other adds 12.4%. People making in the $100K range are currently in the 28% tax bracket. So your proposal would raise their taxes in that bracket by a whopping 22% or 44%. Is that reasonable or fair?

For even higher income people in the 33% and 35% brackets I already know you support Obama's plan to take away the Bush tax cuts so that moves them to 36% and 39.6%. And the health care act adds another 0.9% to that, plus another 3.8% tax on investment income. I'll assume half their income is from investments, so that comes to a 0.9 + 1.6 = 2.5% increase to those brackets moving them to 38.5% and 42.1%.

And now on top of that you want to add another 6.2% or 12.4%. The current 33% bracket now goes up to 44.7% or 50.9%. That's an increase of 35% or 54%. Are you serious?

The current 35% bracket goes up to 48.3% or 54.5%. That's an increase of 38% or 56%. You really don't that that would effect the economy?

And the sad thing is even this isn't a fix for SS. It just moves the next fix out a few decades more. What are you going to do then? And we haven't even added in a discussion of fixing Medicare. Where are you going to get the money?

Is the only solution you've got is to raise taxes? How about a more balanced approached like was done by both parties in the 1980's?