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Politics : View from the Center and Left

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To: KyrosL who wrote (155295)	1/29/2011 7:41:38 PM
From: Mary Cluney	Read Replies (1) of 542004

<<<If you make the rich pay social security on their entire wages, their lifetime Social Security contributions will be very large indeed.>>> So what? Suppose we take the cap off and take John Paulson for example. Off of his income of last year (2010) he would pay between 220 or 320 million dollars into SS depending on whether we use the 4.2 or the 6.2 rate. So what if we gave him a $50,000 pension. How unfair would that be? Would Paulson really object? The only means testing necessary would be to see if you fall into the top 2% of income earners. I am sure they can find the cut off point in short order. I think that would take care of the additional 30 million SS benefits recipients projected for the year 2030. We wouldn't need all that many John Paulsons (not that there aa lot of them) but there are over 3 million in the upper 2%.

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