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Details missing from Obama's Social Security plan (Not surprising)
My Way News ^ | July 28, 2008 | Charles Babington

Posted on 07/28/2008 4:46:24 PM PDT by Kaslin

WASHINGTON (AP) - Barack Obama's bid to place a new Social Security tax on very high incomes is either a bold or foolhardy plan, depending on who critiques it.

But its potential impact is almost impossible to gauge because he is providing few details on basic questions such as what the tax rate might be, what types of income would be taxed and how the taxpayers' benefits would be affected.

The Democratic presidential candidate says he would work with lawmakers from both parties to resolve such matters. Voters generally applaud bipartisan cooperation, but they apparently will go to the polls this fall with only a vague notion of what Obama has in mind.

(Excerpt) Read more at apnews.myway.com ...


TOPICS: Culture/Society; Extended News; Front Page News
KEYWORDS: obama; socialsecurity

1 posted on 07/28/2008 4:46:24 PM PDT by Kaslin
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To: Kaslin

Like John F’n Kerry’s ill-fated run for the WH, details were missing from HIS plans as well. It’s one of the major reasons he didn’t win.

Obama shouldn’t expect too much if he will not be forthcoming about his plans.


2 posted on 07/28/2008 4:49:25 PM PDT by DustyMoment (FloriDUH - proud inventors of pregnant/hanging chads and judicide!!)
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To: Kaslin

3 posted on 07/28/2008 4:51:17 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: Kaslin

All that is known is that it involve “change”.


4 posted on 07/28/2008 4:53:17 PM PDT by glorgau
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To: glorgau

The Ponzi scheme continues...


5 posted on 07/28/2008 4:57:14 PM PDT by Loud Mime (Obama the Messiai----uh, er, um, uh, uh.)
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To: Kaslin

Details missing? Presidential candidates normally outline broad concepts and then work with Congress on details. That’s normal. I don’t need any details. This says Obama is raising taxes on Social Security. That’s all I need to know.


6 posted on 07/28/2008 5:03:25 PM PDT by plain talk
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To: Kaslin

There’s nothing Missing... the “Missing” is the everpresent but unwritten ... “Hand over your WALLET and BEND Over.


7 posted on 07/28/2008 5:04:30 PM PDT by gwilhelm56 (I'll never vote for a LIBERAL ... even if they Do have an (R) after their name.)
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To: Kaslin
"Details missing from Obama"

There, fixed it.

8 posted on 07/28/2008 5:07:08 PM PDT by xcamel (Being on the wrong track means the unintended consequences express train doesnt kill you going by)
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To: DustyMoment
The origins of SSS were never, even under FDR, a wealth redistribution plan. Unless these people in the high income bracket are going to receive benefits concurrent with their contributions then it becomes a confiscation of wealth that goes beyond taxation. It then sets up a two tier system of SSS. Those who pay fica up to $103K and receive benefits equal those contribs, and those who will pay much higher amounts and receive absolutely nothing for it.

How to explain this? There's a lot more people who want their SSS benefits increased than wealthy folks who pay the freight. Harry Hopkins was right 75 years ago. Tax tax tax! Spend spend spend! Elect elect elect!!!

9 posted on 07/28/2008 5:07:52 PM PDT by xkaydet65 (Freedom is purchased not with gold, but with steel.)
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To: Kaslin

B.O.’s platform:
Increase Taxes = Destroy the U.S. economy,
Restrict access to energy & continue Extreme prices = Destroy the U.S. economy,
Give everybody an Insurance Card = Destroy American Health Care System,
Confiscate all firearms = Destroy American Freedom
Sign “The Fairness Doctrine” = Destroy Fairness in America
Appoint Liberal Judges = Destroy the Constitution
...what’d I miss....?


10 posted on 07/28/2008 5:33:31 PM PDT by G Larry (I'm investing in "Pitchfork Futures"!!)
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To: xkaydet65
The origins of SSS were never, even under FDR, a wealth redistribution plan.

True. It was actually a money grab that was marketed by FDR, et al, as a "retirement" plan. It wasn't until LBJ broke the vault open with his War on Poverty (which has been lost every single year throughout time) that it became a wealth redistribution plan.

Since that time, Congress has bankrupted (or spent SS close to bankruptcy) SS 3 times. While they bury their heads in the sand this time, they will drive it much closer to bankruptcy than ever before.

And, we should reward our elected thieves with another term in office because . . . . . . ????

11 posted on 07/28/2008 6:17:10 PM PDT by DustyMoment (FloriDUH - proud inventors of pregnant/hanging chads and judicide!!)
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To: plain talk; Kaslin
"This says Obama is raising taxes on Social Security. That’s all I need to know."

Maybe you missed McCain's latest flip-flop. During the primaries he said, "No new taxes." Now his take on Social Security is that "everything is on the table" -- and, yes, that specifically includes a payroll tax increase. "McCain: Social Security Tax Hike ‘On the Table’"

No shame if you did miss it... keeping up with McCain's flip-flops can be, if you'll pardon the term, taxing.
12 posted on 07/28/2008 6:40:41 PM PDT by Eagle Forgotten
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To: Kaslin

The only way that this would NOT make SS a complete welfare entitlement is to raise the limit that those same folks could draw. Think that will happen?


13 posted on 07/28/2008 6:54:21 PM PDT by Blood of Tyrants (G-d is not a Republican. But Satan is definitely a Democrat.)
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To: Kaslin

14 posted on 07/28/2008 7:44:07 PM PDT by M. Espinola (Freedom is not 'free'.)
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To: Eagle Forgotten

Well in a comparative sense McCain will be a Saint on taxes compared to Obama.


15 posted on 07/28/2008 9:02:05 PM PDT by plain talk
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To: Kaslin

bttt


16 posted on 07/28/2008 9:32:34 PM PDT by AnimalLover ( ((Are there special rules and regulations for the big guys?)))
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To: DuncanWaring

Great post. A picture is worth a thousand words, or in the case of BO a few hundred thousand words.


17 posted on 07/28/2008 11:03:13 PM PDT by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: plain talk

Whether McCain would be better on taxes than Obama depends on your prediction about what McCain would do in office.

You seem comfortable making that prediction based on his most recent statements. I’m not. I think he’ll play it by ear and do whatever seems politically expedient.

He’s promised to eliminate the deficit by 2013. There’s not nearly enough money in earmarks to do that, and Congress won’t go along with gutting entitlement programs. Therefore, to keep his promise, he’d have to let most of the tax cuts lapse.

What he’d do would depend on his guess about whether voters were more concerned over taxes or the deficit.


18 posted on 07/28/2008 11:09:32 PM PDT by Eagle Forgotten
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To: Eagle Forgotten

I’m extremely confortable than McCain will be better than Obama on taxes. Thats a no-brainer. Obama is a marxist.


19 posted on 07/29/2008 4:24:33 PM PDT by plain talk
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