Posted on 10/05/2016 4:16:16 AM PDT by Helicondelta
Democratic nominee Hillary Clinton plans to raise the payroll tax in order to prevent the Social Security program from going bankrupt, Democratic vice presidential nominee Tim Kaine said during Tuesdays VP debate.
...
And Social Security has enabled people to retire with dignity and, overwhelmingly, not be in poverty. We have to keep it solvent, and we will keep it solvent. And well look for strategies like adjusting the payroll tax cap upward in order to do that.
(Excerpt) Read more at dailycaller.com ...
Kaine is a tax and spend gay reptilian overlord.
Well, there go more layoffs and mom & pop businesses closing. Just what we need.
I pine for the days when even liberals didn’t want to admit they supported tax increases.
Dang, a regressive tax on the working poor that will have negligible effect on the wealthy.
They will be more financially subtle about it than raise FICA/OASDI and Medicare taxes across the board. That would affect their lower income dregs to whom they pander so much.
Rather, they will drastically increase the bite for those in upper income brackets and go full boat progressive on the chart just like they do for Federal Income tax. Once a threshold his reached, the rate is doubled. So instead of 6.2% for FICA OASDI and 1.45% for Medicare (no income limit threshold), they’ll double everything above the median income level or something like that.
Technically, these aren’t taxes, but they treat the money as though they are. They are ‘insurance contributions’ - thus the name Federal Insurance Contributions Act, FICA.
Regardless, the money collected will never see the inside of that effing “lock box” they keep yapping about.
43% of voters (including our new Syrian Muslims) who will never pay taxes are all for this.
How many times have we increased the payroll tax in the past with the promise that it would fix social security. Too many to count.
All they do is loan the additional money to the government to increase spending in other areas.
He’s talking about lifting he cap meaning it would only effect he “wealthy”.
Serious question. Could this be the first all gay ticket? Man, how much our great country has changed
I don’t think he’s gay, per se. He looks like a child molester to me, frankly.
Of course not. If that money, over the years, had been invested smartly, it would have grown significantly. Instead, it goes into the same government ‘pot’ that the rest of it does, and gets used just as wastefully. To be honest, given how much our national debt is, every government program is insolvent. To say that anything is solvent is a bit like saying that you’ve regularly paid your mortgage and are in good standing, while your bank account is overdrawn, you have no savings, your credit cards are maxed out, and you spend more every month than you take in.
“Dang, a regressive tax on the working poor that will have negligible effect on the wealthy.”
Let’s not go off the deep end here... Raising the cap doesn’t effect the working poor. It only effects those making over 115K or so and above.
Oh, he is, that is why his wife wants an open marriage!
Channeling Gov. Jim McGreevey, anyone?
More plans to blow out the economic engine. These people want to destroy the country. Isn’t it obvious by now??
He looks and acts like he could be a villain on the TV show "Gotham."
Good to know.
Huh?
Kaine must have made a hefty donation to the Clinton Foundation to get put on this ticket.
No other explanation exists for him getting prime time.
LOLARMAOOTF
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