How Social Security Cheats You to Pay the Rich

MSN Money ^ | 4 February 2004 | Liz Pulliam Weston

[Protagoras]

SS works fine for a lot of the people.

Ponzi schemes always work for the first few in. Slavery works well for a lot of people too, the slave owners.

Lets suggest that SS be revised to be a capitalist system.

A corrupt system cannot be revised to make if non corrupt.

If we force people to save, (not good for personal freedom) then let's force them to learn to invest too. terminate the "forcing function"

The problem is that the "forcing function" never comes off.

Then and let people save and invest without the government involvement.

Neat idea huh?

Not a new one, but very, very neat. The founders liked it, I like it too.

[Protagoras]

I often wonder why conservatives are content to let such programs continue.

Power

[templar]

...FICA revenues are diverted into general expenses which permits higher federal spending and lower tax rates than would otherwise be the case.

For a while anyway. The paying of benefits (as baby boomers retire) will eventually remove this revenue from the system and require huge increases in personal and other taxes to make up for the loss. Or, maybe, we could just default.

[Protagoras]

Or, maybe, we could just default.

History teaches that they will inflate their way out of it if they aren't able to default by raising benefit requirements and means testing. Otherwise, the taxes required would be so high that it's likely a revolution would result.

[nickcarraway]

A rip-off is a rip-off, why should we keep it?

[k2blader]

Power is the reason the bureaucrats and their bootlickers do it, yep. But what about the "commoner" conservatives? Surely they know such programs will be the ruin of their children and grandchildren?

[leadpenny]

I know this is going to come off sounding harsh but I gave you the time of day and you tell me how to build a watch. Whatever happened to keeping it simple? I obviously made a point in a couple of sentences, because you responded to what I said, and you made my eyes glaze over. Maybe it's because I've had a long day and I just spent two hours in DC traffic, but I don't understand what you are saying.

[nopardons]

Means testing ? Then who sets the level and WHY should the " rich " pay and get NOTHING ?

[leadpenny]

Raising taxes and wealth redistribution and class warfare are usually practiced by liberals.

I give you ideas and you give me labels. Thanks for nothing!

[nopardons]

Spot on, as usual! :-)

[cherry]

I think even Barbara Streisland would become a flaming right winger IF SHE HAD TO PAY SOCIAL SECURITY TAX ON ALL OF HER EARNINGS.......

but its so easy to be liberal when you know most of all your income is safe from that automatic 8% drain......

that being said, its not the poor who are being bamboozled....the poor get more money back than they pay in....

its the middle classes that are just beneath the SS threshold but don't get any little presents like the Earned Income Tax Credit, which in my mind, is out right robbery.....

[leadpenny]

One paid 12.4% FICA during their working years. The other paid 1.24%. Fair? ~ Me.

The idea that a ponzi scheme can somehow be made "fair" by tinkering with the details is inane. ~ You.

What does your comment have to do with what I have been saying on this thread?

[leadpenny]

Sure, there's a lot more educating to do and, like apparently with leadpenny. . .

You know it's poor form to refer to someone and not include them in the address line, don't you?

[Hank Rearden]

The fact that these Ponzi schemes exist is sufficient proof that we're being cheated. And by Big Stupid Government, too! What a shock.

[Protagoras]

I give you ideas and you give me labels. Thanks for nothing!

I labeled the "ideas" you gave me so you could recognise them for what they are, the same old liberal talking points and "ideas".

I'm not saying you are a liberal, only that the ideas you cited are. I'm quite sure you don't think of yourself as a liberal. But when you espouse liberal ideas and tactics,,well,,,,,

[leadpenny]

Freepers do not support LeadPenney's liberal nonsense

There ya go with the labels. And I thought we agreed on closing loopholes way back when.

[jackbill]

Thanks for posting. For years I have been saying what the author says.

Remove the FICA Cap!

And you are just as wrong as the author of this drivel. Have you ever heard of the Earned Income Tax Credit? Do you know why the EITC was initiated? It was initiated to reimburse low income taxpayers for the FICA tax that they paid. As presently constituted, it more than reimburses them. Remove the cap? Are you some kind of RAT troll?

[leadpenny]

You obviously didn't read my earlier posts on this thread.

[leadpenny]

Maybe you should read past post 3 also.

[Protagoras]

I don't know how I can make it any more clear. You can't tinker a ponzi scheme into "fairness". You can put a hat on a pig, but it's still a pig.

The only way to make the ponzi scheme "fair" is to abolish it.