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AT&T, Inc. Message Board

  • natsu4fun natsu4fun Nov 7, 2010 3:59 PM Flag

    Tax break for "Everyone" ??????

    We all know when the Republicans say Tax break for "Everyone"they mean to include those making more than $$$$$$$250K+$$$$$$$

    So how about having "Everyone" also share the burden and have this tax be on "all" income!

    The Social Security tax withheld from employees during 2011 will be 6.2% of the first $106,800 of each employee’s taxable earnings. The employee’s earnings in excess of $106,800 are not subject to the Social Security tax.

    Change this tax to "all" earnings for everyone!

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    • Social Security will likely stay solvent. The Soc. Sec. Administration uses very conservative growth assumptions when doing its forecasting. They keep pushing back the date when they expect the Trust Fund to run out. It is now pushed back to 2042.

      The Congressional Budget Office uses less conservative projections and it projects that the Soc. Sec. Trust Fund will last until 2052.

      An economy that grows slightly better than these forecasts expect, or a growth in the working age population (through immigration), and Soc. Sec. will likely get through the squeeze baby-boomers are putting it through.

      Us young people always hope that baby-boomers will still, before they retire, agree to contribute just a little more to the Soc. Sec. Trust Fund so that we don't have to pay for them later.

    • But then, dan just wants to waste your time. He'd rather have you wasting time on him than talking with someone whose mind is not closed, and possibly convincing them. So, don't waste your precious time on the dans of this world!

    • Good one! A lie that is told loudly and repeatedly is still a lie. Apparently, dan cannot comprehend this!

    • Blame Obama for not stealing money from the Social Security Trust Fund? What are you talking about?

      Now I am pretty sure you are crazy. You cannot seem to maintain a coherent line of thought.

    • Well, in the last two years the Social Security Trust Fund was not diminished despite the Bush bailouts and Obama stimulus. The Republicans also did not take money from the Social Security Trust Fund.

      So I'm not really sure what you are trying to say. Maybe you think Republicans plan to finance their tax cuts for the wealthy by stealing money from the Social Security Trust Fund? I don't know. You seem a little crazy.

    • By the way, in two years, it will be said, "Blame Obama!"

    • I do have one unfortunate disadvantage. I just don't get that repetition creates truth.

    • It is a Ponzi Scheme. Play spin the bottle Ricky.

      I am certain that you have little to no education or knowledge regarding investing. Your posts are spin, you have little knowledge that anyone would seek.

      Yet, even a blind squirrel gets lucky!

    • That would be an acceptable idea to me IF all those funds collected would be for the benefit of those collecting and expecting to collect SS benefits going forward.

      The problem is that if those collections were to increase to that level the temptation for Congress to leave that much money unspent on their pet projects would be overwhelming. They couldn't, wouldn't leave it alone. They would find foreign countries, a county airport back home or some museum for wool growers that needed that money more.

      Just like taxes on gasoline to be used for road construction simply goes into the general fund. Taxes from smokers that are supposed to support non-smoking programs, health research, etc., simply goes into the general fund for Congress to treat as a personal slush fund.

      There are plenty of things on which the collective US taxes could be spent to benefit extremely large portions of our population. There are way too many things that are taxed for a specific intent or purpose that never see the funds for which they have been collected.

      Taxes are a necessary evil, but our tax system is broken and so convoluted that even many of those that wrote the laws don't understand them and can't explain them. However, they are what they are because Congress wants them that way. If Congress wanted a simple, fair tax system, we would have one. A simple tax system that is fairer to the collective taxpaying base is simply not in the best interests of Congress.

    • A Ponzi scheme involves fraud. A pyramid scheme is a bad (and illegal) business model, but does not necessarily involve fraud. So to claim Soc. Sec. is a Ponzi scheme is to claim it is fraud. If you do not mean to imply fraud, then please use a term that does not imply fraud.

      I provided you a link to the Social Security Trust Funds' investments and returns. I'm not going to spoon feed you.

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