Get rid of it completely and start over with the 36 and under millennials.
Is this the FICA deduction that I see on every paycheck?
Today is payday. FICA deduction is 5.7% of my earnings.
No. Don’t add to the deficit and debt.
Social Security is unconstitutional. End it. Stop taking the taxes, stop sending the checks. If Congress wants to do something to ease the pain — and can do it within constitutional limits — that’s fine. Just don’t raise my taxes to do it.
Because you may not know. The payroll tax is Social Security and Medicare. Its not a tax at all. Payroll tax is just 1984 style double speak for two underfunded insurance schemes run by the federal government. There is no reason to change the funding of these two schemes. Everyone pays in. The question is why do people get to take out more than they put in. Well if you live to 90, ok. But there are lots of people who take out more before they even turn 75.
Social Security is going to be ok. It will go red when the baby boomers hit maximum retirement in 15 years. But it quickly goes back into the black. And it could be improved right now by increasing the retirement age by one year.
Medicare is the issue. Its the only issue. We need to lower costs. We need to reduce expenditures until medicare becomes close to solvent.
NO!!! Make “everyone” who earns even a single $ pay at least 10% so that everyone shares in the pain!!!
Cutting taxes is good, but cutting SPENDING is CRUCIAL!!!!
Somebody at NR needs to explain where the money is going to come from to fund Social Security and medicare — because I don’t see any proposal to cut those programs. The replacement funding is most likely to be raised from businesses, income taxes, or more borrowing.
Isn’t the Workman worthy of all the fruits of his labor...
Isn’t the Workman worthy of all the fruits of his labor...