A lot about this that would not work. For one, you can’t assume employers are evil. They have to adjust and do what is in their self-interest to be viable and competitive. And if you force them to pay more taxes on salary they pay out — then they would adjust. Then you would also have them in effect subsidizing folk’s retirement that never even worked for them. Economically, that wouldn’t fly.
The answer is still to make sure people plan to get old and plan for retirement. Otherwise, you can make them even more dependent on SS than they already are if you try something like that.
Raiders22,, I said that tongue in cheek about evil employers ...after the people around here,that call them corporate fcks...
..and to your point .. guess it wouldn't be a good idea to have employers pay more than employees do...employers would adjust to that by paying workers less to compensate...
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Quote Originally Posted by Raiders22:
A lot about this that would not work. For one, you can’t assume employers are evil. They have to adjust and do what is in their self-interest to be viable and competitive. And if you force them to pay more taxes on salary they pay out — then they would adjust. Then you would also have them in effect subsidizing folk’s retirement that never even worked for them. Economically, that wouldn’t fly.
The answer is still to make sure people plan to get old and plan for retirement. Otherwise, you can make them even more dependent on SS than they already are if you try something like that.
Raiders22,, I said that tongue in cheek about evil employers ...after the people around here,that call them corporate fcks...
..and to your point .. guess it wouldn't be a good idea to have employers pay more than employees do...employers would adjust to that by paying workers less to compensate...
Not to worry folks. None of you. Pro, Con or totally lost.
Federal level politicians deal with the long term future only in platitudes. In their current era they couldn't possibly care about a problem that is projected to be twenty or thirty years away. No president, senator or congressperson is thinking any further ahead than the next time they run; be it to advance their position or just hold on to their current one.
Therefore, in the foreseeable future their true heart attitude is, just let it be, pass it on to a future congress or administration.
Time alone will change the prospectus. Most of you have never heard of the "notch babies", a group that was screwed by congress and the Social Security system for nothing other than having been born in the wrong years.
Then there were the Agent Orange victims of the Viet Nam War. Even if you are old enough you don't hear about fair treatment for them any longer either.
Both problems were handled by congress in the exact same manner. "If we stall long enough they all die and the problem will die with them". Yep, you don't hear about either group anymore because both are dead. No problem.
There are literally hundreds of foreseeable problems in the 10, 20, 50 year range that will not effect Election 2020, therefore those problems will not even be part of the discussions or debates.
So, how many of you concerned, responsible citizens thought the tax cut that put a little more money in your pocket last year was a bad idea, because it would push trillions in debt to your kids? Maybe when you are comfortably retired and collecting your cola inflated social security your kids will flip you the bird and say, "Sorry dad, your social security check doesn't bother me, but I can not forgive the huge hunk coming out of my paycheck that is not even carrying the interest on the national debt anymore. Euthanasia looks like a viable option for the over 70 crowd, and well, I just have to vote in favor of it".
Now and then even a BLIND squirrel can find an acorn
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Not to worry folks. None of you. Pro, Con or totally lost.
Federal level politicians deal with the long term future only in platitudes. In their current era they couldn't possibly care about a problem that is projected to be twenty or thirty years away. No president, senator or congressperson is thinking any further ahead than the next time they run; be it to advance their position or just hold on to their current one.
Therefore, in the foreseeable future their true heart attitude is, just let it be, pass it on to a future congress or administration.
Time alone will change the prospectus. Most of you have never heard of the "notch babies", a group that was screwed by congress and the Social Security system for nothing other than having been born in the wrong years.
Then there were the Agent Orange victims of the Viet Nam War. Even if you are old enough you don't hear about fair treatment for them any longer either.
Both problems were handled by congress in the exact same manner. "If we stall long enough they all die and the problem will die with them". Yep, you don't hear about either group anymore because both are dead. No problem.
There are literally hundreds of foreseeable problems in the 10, 20, 50 year range that will not effect Election 2020, therefore those problems will not even be part of the discussions or debates.
So, how many of you concerned, responsible citizens thought the tax cut that put a little more money in your pocket last year was a bad idea, because it would push trillions in debt to your kids? Maybe when you are comfortably retired and collecting your cola inflated social security your kids will flip you the bird and say, "Sorry dad, your social security check doesn't bother me, but I can not forgive the huge hunk coming out of my paycheck that is not even carrying the interest on the national debt anymore. Euthanasia looks like a viable option for the over 70 crowd, and well, I just have to vote in favor of it".
Social Security payment is just another tax. It just that simple. Government has made a base tax of 15.3 on every dollar earned to 112k or so. To off set this for earnwrs lower than 6,800 an earned income credit is given. So unless you file a 1040 schedual farm social security self employment and earned income single is even. After that it is a federal tax. No different than income tax and unless other earned credits off set this or the federal resource the government uses to pay for expenses.
There will never be a savings account again to off set debt. The feds would like to make one and it is using a health savings plan as a new possible gimmick. The federal government budget is accumulated by earners making less than 112k they support the governments revenue to the tune of 80% then corporations 15% finally earners over 112k 5%. These numbers are based on 2012 data but today's percentages are not that far from that reality.
Our Congress still will not pass a new budget. It can not seem to both just pointing their figure at the other side . We might stop and think when does America win. Republicans won this or democrats won that but all either side seemed to do is keep the government open for the last decade.....
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Social Security payment is just another tax. It just that simple. Government has made a base tax of 15.3 on every dollar earned to 112k or so. To off set this for earnwrs lower than 6,800 an earned income credit is given. So unless you file a 1040 schedual farm social security self employment and earned income single is even. After that it is a federal tax. No different than income tax and unless other earned credits off set this or the federal resource the government uses to pay for expenses.
There will never be a savings account again to off set debt. The feds would like to make one and it is using a health savings plan as a new possible gimmick. The federal government budget is accumulated by earners making less than 112k they support the governments revenue to the tune of 80% then corporations 15% finally earners over 112k 5%. These numbers are based on 2012 data but today's percentages are not that far from that reality.
Our Congress still will not pass a new budget. It can not seem to both just pointing their figure at the other side . We might stop and think when does America win. Republicans won this or democrats won that but all either side seemed to do is keep the government open for the last decade.....
Oh my god, now I'm thinking like a Democrat ..as this new bill is along the same track.. I suggested ..minus the new benies..
200 house lawmakers all D's ,, have signed up ..for "Social Security 2100 Act" The bill requires earners above $400K to be subject to a payroll tax that funds the program..
The bill would gradually increase the payroll contribution by workers and employers to 7.4% each by 2043 up from 6.2% to 14.8% altogether.(currently 12.4%)....
Of course to get social security recipients to vote for it.. I see they added goodies for them..e.g increase in avg. benefit and new formula for COLA..
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Oh my god, now I'm thinking like a Democrat ..as this new bill is along the same track.. I suggested ..minus the new benies..
200 house lawmakers all D's ,, have signed up ..for "Social Security 2100 Act" The bill requires earners above $400K to be subject to a payroll tax that funds the program..
The bill would gradually increase the payroll contribution by workers and employers to 7.4% each by 2043 up from 6.2% to 14.8% altogether.(currently 12.4%)....
Of course to get social security recipients to vote for it.. I see they added goodies for them..e.g increase in avg. benefit and new formula for COLA..
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