How about replacing the payroll tax with a 1% national sales tax to fund SS and Medicare.
RE: How about replacing the payroll tax with a 1% national sales tax to fund SS and Medicare.
I’ll agree with with that with the following caveats:
1) HOW DO YOU PREVENT THE FEDERAL GOVERNMENT FROM RAIDING THE SS FUND AND STUFFING IT WORTHLESS IOU’s LIKE IT IS DOING NOW?
2) Current SS payout for retirees is based on the percentage of your salary taken from you. The higher your salary, the bigger you the amount you get per month when you retire.
How is a 1% sales tax going to replace this system?
This would mean everyone gets the same monthly amount when they retire regardless of current income.