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#21
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
On Mon, 30 Jun 2008 14:02:21 -0700 (PDT), "Robert M. Gary"
wrote in : "Obama to push for higher Social Security tax" http://www.msnbc.msn.com/id/21739271/ So expect your paycheck to get smaller. Nov. 11, 2007 But during an interview on NBC's "Meet the Press," Obama said subjecting more of a person's income to the payroll tax is the option he would push for if elected president. He objected to benefit cuts or a higher retirement age. ... Currently [2007], only the first $97,500 of a person's annual income is taxed. The amount is scheduled to rise to $102,000 next year. Obama also invoked his friend, billionaire Warren Buffett, who Obama said has expressed concern that he pays less in Social Security taxes than anyone else in his office. "And he has said, and I think a lot of us who have been fortunate are willing to pay a little bit more to make sure that a senior citizen who is struggling to deal with rising property taxes or rising heating bills, that they've got the coverage that they need," Obama said. So it would appear that Obama proposal would result in the wealthy assisting in funding seniors. |
#22
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Bush Threatens Veto Of Any Bills That Don't Include User Fees ForEveryone Talking To ATC!
On Jun 30, 2:25*pm, "Mike" wrote:
I guess your reading comprehension skills aren't all that great. *Obama proposes raising the SS maximum income level, which is currently $102,000 which affects less than 5% of the population. *The payroll tax rate would remain the same. *And you claim to be an economic expert? I'm not sure what hair your trying to split. The point is that more SS tax will come out of my paycheck and I suspect the majority of airplane owners. -Robert |
#23
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Bush Threatens Veto Of Any Bills That Don't Include User Fees ForEveryone Talking To ATC!
On Jun 30, 2:25*pm, Larry Dighera wrote:
So it would appear that Obama proposal would result in the wealthy assisting in funding seniors. * "Wealthy"!! . OMG I'm on the floor laughing. $102,000/yr is now wealthy, that's awesome, I'll have to remember that one. You probably couldn't even get a lone for a Cessna 172 on $102,000/yr. -Robert |
#24
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
"Robert M. Gary" wrote in
: On Jun 30, 2:25*pm, "Mike" wrote: I guess your reading comprehension skills aren't all that great. *Obama proposes raising the SS maximum income level, which is currently $102,000 which affects less than 5% of the population. *The payroll tax rate woul d remain the same. *And you claim to be an economic expert? I'm not sure what hair your trying to split. The point is that more SS tax will come out of my paycheck and I suspect the majority of airplane owners. What do you suspect them of? Bertie |
#25
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
"Robert M. Gary" wrote in news:8458a3ab-92dd-4510-baa5-
: On Jun 30, 2:25*pm, Larry Dighera wrote: So it would appear that Obama proposal would result in the wealthy assisting in funding seniors. * "Wealthy"!! . OMG I'm on the floor laughing. $102,000/yr is now wealthy, that's awesome, I'll have to remember that one. You probably couldn't even get a lone for a Cessna 172 on $102,000/yr. You could probably get alone with one for a hundred dollars. unless youre looking for "extras" of course. Bertie |
#26
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
"Steven P. McNicoll" wrote in message
... Mike wrote: For a self-described economic expert, you sure have some weak points. First, Obama said no such thing. Next, SS can't possibly be "gone" because you will always have people paying into the system. The only thing that has a potential to be "gone" is the SS trust fund, which was a bad idea given to us by Reagan in the first place. Even if the SS trust fund is "gone", FICA will still cover at least 75% of SS payouts, even if all the doom-and-gloom predictions about SS come true decades from now. Actually, SS was a bad idea given to us by FDR in the first place. SS was a great idea. It's original intent was simply to insure old people wouldn't be eating out of trash cans, which was widespread at the time. Of course, I happen to think old people eating out of trash cans isn't a great idea. If you don't share that sentiment, I can certainly understand why you'd think SS wasn't a great idea. Unfortunately, SS has been expanded over the years and the elgibility age hasn't been raised to reflect the reality of people living longer. The SS maximum income level also hasn't kept pace with increases in income, and the whole trust fund idea is a disaster. The result is you now have too many people collecting benefits from too few, and the current FICA rate reflects those failures. |
#27
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
Mike wrote:
I guess your reading comprehension skills aren't all that great. Obama proposes raising the SS maximum income level, which is currently $102,000 which affects less than 5% of the population. The payroll tax rate would remain the same. And you claim to be an economic expert? Seems to me if a larger income level is subject to the same tax rate a higher net tax is the result. Do you disagree? |
#28
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Bush Threatens Veto Of Any Bills That Don't Include User Fees For Everyone Talking To ATC!
Mike wrote:
SS was a great idea. It's original intent was simply to insure old people wouldn't be eating out of trash cans, which was widespread at the time. Of course, I happen to think old people eating out of trash cans isn't a great idea. If you don't share that sentiment, I can certainly understand why you'd think SS wasn't a great idea. You're wrong, SS was always a bad idea. Great ideas don't have to be forced on people, SS does not insure old people won't be eating out of trash cans, and there's no Constitutional authority for it. |
#29
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Bush Threatens Veto Of Any Bills That Don't Include User Fees ForEveryone Talking To ATC!
On Jun 30, 2:35*pm, "Mike" wrote:
Unfortunately, SS has been expanded over the years and the elgibility age hasn't been raised to reflect the reality of people living longer. *The SS maximum income level also hasn't kept pace with increases in income, and the whole trust fund idea is a disaster. * The reason the max income level hasn't increased as fast is because the max payout has been reduced. Incomes over that amount don't contribute to increased future distributions. Allowing people to pay into SS at higher income levels than they can ever collect on totally throws out the idea that its a "savings" plan as sold by FDR. In anycase, if they cut the SS tax in 1/2 by allowing people to opt out of ever collecting on it people would retire with several times more money by investing the saved 1/2. However, that doesn't allow the gov't control over your money so it will never fly. -Robert |
#30
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Bush Threatens Veto Of Any Bills That Don't Include User Fees ForEveryone Talking To ATC!
On Jun 30, 2:37*pm, "Steven P. McNicoll"
wrote: Mike wrote: I guess your reading comprehension skills aren't all that great. Obama proposes raising the SS maximum income level, which is currently $102,000 which affects less than 5% of the population. *The payroll tax rate would remain the same. *And you claim to be an economic expert? Seems to me if a larger income level is subject to the same tax rate a higher net tax is the result. *Do you disagree? Yea, I'm waiting to hear how he explains to me that more money coming out of my check and going into the SS system is not a tax increase. Perhaps he should be running for office. -Robert |
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