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Politics : A US National Health Care System?
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To: John Koligman who wrote (6147)2/17/2009 10:34:26 AM
From: i-node3 Recommendations  Read Replies (3) of 42652
 
Gradually raise the cap on earnings covered by Social Security so that once again 90 percent of all income would be taxed and counted for benefits.

Yes, a substantial SS tax increase will help, but will not solve the problem. Keeping in mind that 30 short years ago we were sold a massive SS tax increase as a long-term solution.

Dedicate future proceeds of a revised estate tax to Social Security beginning in 2010. Present law gradually reduces the estate tax so that by 2009, only estates above $3.5 million ($7 million per couple) will be taxed. The tax should be frozen at that level, with the revenues directed toward Social Security.


This runs absolutely, 180 degrees counter to what FDR proposed originally with respect to SS. When the program was created he insisted that it be self-funding out of SS tax revenue. Now, what you're talking about doing is confiscating all significant wealth aggregated by living persons in order to retire this debt.

Even if you decided to confiscate accumulated wealth of Americans to pay the SS debt off, what do you do 30 years from now when the problem presents again? What then?

You cannot keep confiscating people's money to deal with this problem. At some point, you insure the death of the nation.

How can you not understand this?

Add to that, the new programs instituted by this idiot in the White House, the health care debacle at Medicare, and this problem makes the current banking crisis look like a walk in the park.

Improve the return on Social Security funds by investing part of them in equities

Exactly what Bush tried to do. Precisely. And you all bitched about it and the Dems blocked it.
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