Quote:
Originally Posted by d-ray657
What is being advocated is converting the money paid into social security into a de-facto tax - the most regressive tax imaginable.
Then they are opposing any increase in taxes on people who get a 7% tax break as soon as they reach the $106K income threshold.
They will not even consider tax changes that affect the highest income recipients, but will make cuts in social security to avoid repaying the debt owed to the funds made up of contributions from even the lowest income earners.
Consider the top marginal income tax rate, then subtract 7% from it to account for the social security discount that is provided to approximately 7% of incomes. ( Ninety-three percent of incomes are less than $100K) Essentially, we are asking 93% of the people to protect the tax rate of the top 2%.
Regards,
D-Ray |
...and how much "revenue" (another silly word change by the left) would that actually bring into the coffers to cover the outrageous spending by both parties. Demagoguing the supposed rich is simply to indulge in class warfare for political gain. Why people think the democrats and Obama is the "people's" party is beyond my comprehension. Obama and the democrats also rely heavily on contributions from corporate entities along with the Unions.