15 August 2010

Social Security "Fix"

It's just not true that social security is bankrupt. This is a Republican myth. I won't even waste words proving this; it's been discussed at length elsewhere.

But if the administration is now so concerned about the federal budget, and the inability to steal enough from the social security tax in the future to pay for other things, the solution is really simple.

  • Increase the cap on income for FICA and Medicare taxes to ... no cap. (All income taxed, including unearned income). 

  • Make the tax progressive, with higher rates for those earning over some amount that represents the borderland between the "working middle class" and the upper middle class... say for now around $125,000 for individuals; $200,000 for couples.
Working people are getting really, really tired of having to shoulder every cost and provide for all the production in this country, with so little of the profit. 

No comments:

Post a Comment

Gyromantic Informicon. Comments are not moderated. If you encounter a problem, please go to home page and follow directions to send me an e-mail.