In 1937 Social Security started out as 1% of the first $3,000.00 of pay from the employee, plus 1% of the first $3,000.00 of pay from the employer. Remind me again, what are the current rates in 2007?
Of course the real fun with Social Security will start when the trust monthly payouts exceed monthly payins. Bad news: according to the actuaries that isn’t that far away.
Trying to figure out how the story will end helps you avoid unpleasant ends. But you can always wait until you actually hit the iceberg to start figuring out your options. That worked out well for most everyone on the Titanic, didn’t it?
Moral of the story: learn from the mistakes your country has already made.
Or you can call Cheburashka a party pooper. No skin off my nose. I've given my opinion, I've given my reasons. You go ahead and believe what you want.
Thanks for making my point. The 60K page tax code is a mess of loopholes, class envy and stealth taxes but hey why don't we just keep tinkering with it and maybe we can make it work.
Trying to figure out how a story will end does not tell you how the story will end....the problem is: sit around make up things that might happen AND come up with no other options.
Don't go with the fair tax (or any other reform?) b/c it may become what we already have?...learning from your mistakes does nothing if you don't change anything! Dang that 60K page tax code was a bad socialist idea but we better not change anything or we might end up with a socialist 60K page tax code. sheesh.