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Politics : Don't Blame Me, I Voted For Kerry
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To: brushwud who wrote (4236)2/26/2004 12:13:34 AM
From: Lizzie TudorRead Replies (1) of 81568
 
Workers like yourself making over $100K, you mean, who'll collect the maximum SS benefit when they retire, not a mere "privilege". What would you propose, totally integrating SS with the individual income tax, so workers at the bottom would pay almost nothing while those (workers and nonworkers) at the top have their marginal rates raised to over 40% or something? (Actually, I sort of agree with that.)

hehehe.... I'm not working right now so... gotcha!

Anyway what would I propose- well given that the system is basically broke and cannot remain self sustaining anyway we might as well do away with social security completely. Instead replace it with a retirement system that provides for anyone over 65 that needs benefits, but excludes wealthy retirees and funds the system out of the general fund (my preference would be to raise capital gains taxes including real estate and long term equity investments to 30% or so)... also extend medicare + drugs to all citizens as an alternative to private insurance if their employer doesn't provide it, and open up drugs to canada or other markets to cut costs.

In other words, no fica tax, no SS entitlements, instead a generous program for folks over 65 who need financial assistance and medicare for all who need it- simple huh?

We have to bite the bullet on something like this anyway because Fica makes our workers uncompetitive and their payments into a broken system are getting vaporized.
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