-
Roger of Arabia commented on the blog post Social Security Benefits Cuts Are in the Mix in Debt Ceiling Negotiations
It is exactly a ploy to avoid drawing down on the trust fund because that will have to come from the treasury which will raise the debt or force income tax increases.
-
Roger of Arabia commented on the blog post Social Security Benefits Cuts Are in the Mix in Debt Ceiling Negotiations
Okay. Here is how this Social Security thing works out. Social Security has been running at a surplus for several decades from the 15% (including employers’ portion)FICA taxes which most people pay on 100% of their income, and that surplus which is loaned to the rest of the federal government is not counted as part of the deficit which makes it easier to lower income taxes and argue against raising the same. Now they are saying that we must take action to keep the trust fund full rather than have SSA collect those debts from the IRS. You see this is the thing, the right loves to say that half of Americans don’t pay any income taxes, but they ignore that the income taxes of the rich are artificially low because those low income earners are paying 15% of all of their earnings in taxes, while the rich top out and then stop paying social security taxes. The poor who are paying SS taxes are subsidizing the rich.
-
Roger of Arabia became a registered member
