Posted on 01/06/2012 6:38:10 PM PST by DJ MacWoW
KEENE, N.H. (AP) - Republican presidential candidate Rick Santorum called Friday for immediate cuts to Social Security benefits, risking the wrath of older voters and countless others who balk at changes to the entitlement program.
"We can't wait 10 years," even though "everybody wants to," Santorum told a crowd while campaigning in New Hampshire and looking to set himself apart from his Republican rivals four days before the New Hampshire primary.
Most of his opponents have advocated phasing in a reduction and say immediate cuts would be too big a shock to current and soon-to-be retirees.
(Excerpt) Read more at apnews.myway.com ...
“...adjust the wage for inflation...”
Adjusting for inflation has nothing to do with this.
So you're saying that your hypothetical person made $30K back in 1966 and has made $30K a year since then?
You do realize that forty years ago the maximum taxable income was about $7K, right? Your very simplistic statement about total Social Security tax withheld is still way off.
“...forty years ago the maximum taxable income was about $7K...”
Yes, that is so, and the $7K was more than most people earned in a year in 1966. Average does not mean a flat $30K per year, each year, now does it! While working I always paid at the max withholding on FICA. And I AVERAGED much more than the $30K over my working years. Obviously you just want to argue, so do not bother replying... :)
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