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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: maceng2 who wrote (111229)3/13/2015 9:21:01 PM
From: Elroy Jetson1 Recommendation   of 218621
 
Some knuckleheads have pointed out that a 50% reduction in Medicare and Social Security benefits should more properly be used to reduce Medicare and Social Security tax rates by 50%.

But a 50% reduction in Social Security and Medicare payroll taxes would only benefit low-lifes who work for a living.

Unless the Social Security and Medicare tax revenue taken from working people and retirees benefits is used to subsidize income tax rates, investors will miss out on the benefits of lower taxes because they don't pay Medicare and Social Security taxes on their profits.

Working Americans were required to pay 16% Payroll Taxes in addition to Income Taxes so they could subsidize low income tax rates for investors.

This was the genius of Ronald Reagan - Class Warfare disguised as a tax cut.

This is why an investor like Mitt Romney pays only 13.6% total in Income tax, Social Security tax, and Medicare taxes on only $22 million of income.

In comparison Tomasso, one of those untouchables who worked for a living, was paying more than 30% on his annual income - which I can only imagine was far more than Mitt Romney could dream of earning.

But Tomasso was kindly enough to donate about 25% of his Social Security and Medicare taxes each year to guys like Mitt Romney in the form of subsidized income tax rates.

And this is a question of equity - isn't it pretty selfish for a guy like Tomasso to abruptly stop subsidizing Mitt Romney's income tax rates without notice when he can continue to do so by accepting only a 50% reduction in his retirement benefits? If we cut John Vosilla's Medicare and Social Security benefits by 50% he may stop muttering that we need further cuts in these two Entitlement Programs.
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