Posted on 10/23/2002 4:16:36 PM PDT by ATOMIC_PUNK
Eventually, those that actually pay for this goverment will cut off their "free lunch."
Immigration demographics suggest otherwise. The only way the great unwashed are going to be "cut off" is for the economy to collapse. As long as the economy, especially the economy for the upper quartile, is humming along, no one has a vested interest in rocking the boat and cutting anyone off.
Make the 50,000,000 yuppies huddle in the fetal position, wondering where the mortgage payment is going to come from, and realizing their lifes' savings couldn't buy new tires for their Ford Extinction, that is a week away from repo, meanwhile listening to urbanites looting and destroying their neighborhood...
...you would make serious progress in cutting off the great unwashed from their gov't bennies.
Meanwhile, back to the Republican Ramp-up on Wall Street...
FICA is a scam, and if you are younger than 40 years old, you lost all of that money. ~Humble
I don't think it should either unless you are also going to include future benefits as well. This is, or should be separate from the general operating fund of the government, despite the present practice of "borrowing" from SS funds. ~meyer
Koblenz is right in raising the issue of FICA. Of course it's (SS) a scam but the subject of the thread is Which Wage Earners pay the taxes - not who receives, or may receive future benefits. Something like 75% of wage earners pay more in FICA than they do in other taxes. FICA is now. Benefits are on the other side of the ledger and another argument. What the Federal Government does with FICA, Medicare and Income Tax is irrelevant. People have this burden now.
To NOT include the mandatory FICA tax in the equation makes any discussion on Who Pays the Taxes a bogus one.
Notice, no comment about the times I was personally homeless and almost starved to death.
Ok leadpenny, how old are you? Have you ever been taught the simple concept of compunded interest?
Did anyone explain to you, that if your current FICA tax was invested, by the age of 65, you would most likely retire with $1 MILLION in the bank?
Nope, you think that the current $280 a month is GOOD MONEY!
Cool, I love it.
This situation would be easily corrected by requiring that one of three criteria be met in order to vote:
1. Current net taxpayer (taxes paid minus government assistance greater than zero)
2. Currently in the military
3. 10 consecutive years in any combination of 1 and 2 grants permanent right to vote.
Essentially, everyone who is a citizen has a right to be here, but only those who contribute to our society have a voice in the direction we take.
No problems with me on that concept.
Uh, it would cause a problem in Florida however.
reality is this....when it all comes out in the wash....the tax burden on the working class with income taxes, SS taxes. property taxes etc etc and the fact that the average working still can not take advantage of the latest tax avoidence schemes offered up ....then I would say that the working class does indeed pay far more than they should be...
working poor...get very little in college help for their kids. are too rich for health care help.. ...they are caught between a rock and a hardspot...
The text of the Bible (1 Samuel Chapter 8), excerpted below in the English Standard Version, agrees with your point. The context is the Hebrews' rejection of God's prophet Samuel to rule over them in favor of a king "like all the other nations." Note especially how God considers it outrageous for the state to claim 10% of one's income in tax and how the people don't care. Some things don't change:
...All the elders of Israel gathered together and came to Samuel...and said to him...Now appoint for us a king to judge us like all the nations.” 6 But the thing displeased Samuel when they said, “Give us a king to judge us.” And Samuel prayed to the Lord. 7 And the Lord said to Samuel, “Obey the voice of the people in all that they say to you, for they have not rejected you, but they have rejected me from being king over them.
8 According to all the deeds that they have done, from the day I brought them up out of Egypt even to this day, forsaking me and serving other gods, so they are also doing to you. 9 Now then, obey their voice; only you shall solemnly warn them and show them the ways of the king who shall reign over them.”
10 So Samuel told all the words of the Lord to the people who were asking for a king from him. 11 He said, “These will be the ways of the king who will reign over you: he will take your sons and appoint them to his chariots and to be his horsemen and to run before his chariots. 12 And he will appoint for himself commanders of thousands and commanders of fifties, and some to plow his ground and to reap his harvest, and to make his implements of war and the equipment of his chariots. 13 He will take your daughters to be perfumers and cooks and bakers. 14 He will take the best of your fields and vineyards and olive orchards and give them to his servants. 15 He will take the tenth of your grain and of your vineyards and give it to his officers and to his servants. 16 He will take your male servants and female servants and the best of your young men [1] and your donkeys, and put them to his work. 17 He will take the tenth of your flocks, and you shall be his slaves. 18 And in that day you will cry out because of your king, whom you have chosen for yourselves, but the Lord will not answer you in that day.”
19 But the people refused to obey the voice of Samuel. And they said, “No! But there shall be a king over us, 20 that we also may be like all the nations, and that our king may judge us and go out before us and fight our battles.”
FICA tax is around 12% of our earned income.
Now, if someone very rich was able to invest that same 12% for his future retirement, and it also earned above the current bank saving account....
Nobody but a fool would turn down that offer.
However, you have forgotten a tiny little detail that the Democraps were allowed to make law:
If you make more than X amount, no matter how much you have invested into your personal FICA account, you are no longer eligiable to retrieve that money.
Twice in my life, I persponally almost starved to death because I made too much money.
Go cry at DU, you will not get any sympathy from this Freeper!
I downloaded the IRS Data and built a spreadsheet, based upon the downloaded data (that is also included). Using simple formulas, I restructured the data to reflect the top "x%"of each category, rather than the bottom. The numbers come out to be the same as Rush's, but as a spreadsheet, you can do all kinds of corelations. I will post it on the Action America web site by Thursday (10/24) noon CDT, for anyone who is interested.
TAX THE POOR!
Anytime government wants to discourage behavior, they penalize those indulging in the behavior with taxes. What would be the harm? We've spent 6 trillion trying to eradicate the poor by handing them money. It has had zero success in eradicating poverty!
It DOES make sense!
I hardly call $53,000 per year rich.
The figures were taken from the IRS website. Complain to them, like it would do any good.
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