I'm against progressive taxes and regressive taxes. I'd like to see the cap taken off for social security wages and then possibly lower the % of tax on everyone. I don't see the 2nd part ever happening.

 

I have no problem removing the cap. It's the part about removing the cap and then restricting the benefits that turns it into a welfare program.

The big money wouldn't allow the restriction to come off, the same reason why the cap was imposed in the first place- as a compromise.

The big money wouldn't allow the restriction to come off, the same reason why the cap was imposed in the first place- as a compromise.

I'm not so sure. The Medicaid cap came off. I realize that its only 1/4 of the SSI tax, but...

I would be in favor of partial privatization of social security taxes, gradually phased in over 5-10 years, where around 30-40% of payroll taxes are invested in the private equity markets. I would also be in favor of increasing the age when people can draw social security to 70-75 (again, phased in so that people currently near retirement age would not be affected, but the change would impact people 45 years old or younger). When social security was started in the mid 1930s, relatively few people even lived long enough to collect it. Today, with longer life expectancies, social security is widely used as a supplemental source of income for very comfortable and long retirements. The present system is just not sustainable.

I'm not so sure. The Medicaid cap came off. I realize that its only 1/4 of the SSI tax, but...

 

I'm not familiar with the situation, but why would big money allow the Medicaid cap off? It doesn't seem like big money has lost power, what would their incentive be to compromise to remove the cap. And obviously it didn't shut up any critics of SS.

I would be in favor of partial privatization of social security taxes, gradually phased in over 5-10 years, where around 30-40% of payroll taxes are invested in the private equity markets. I would also be in favor of increasing the age when people can draw social security to 70-75 (again, phased in so that people currently near retirement age would not be affected, but the change would impact people 45 years old or younger). When social security was started in the mid 1930s, relatively few people even lived long enough to collect it. Today, with longer life expectancies, social security is widely used as a supplemental source of income for very comfortable and long retirements. The present system is just not sustainable.

 

Good heavens, I'm in agreement with H!!! And its not even a full moon out tonight . . .