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Politics : Formerly About Advanced Micro Devices
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To: Tenchusatsu who wrote (857395)5/15/2015 5:30:34 PM
From: i-node1 Recommendation

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TimF

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Ten

There are a couple of things leftwingers always overlook about SS --

1) The social contract was that there was to be a very small tax on a small amount of EARNED INCOME only, matched by employers. And that was to fund the program into perpetuity. What we're now talking about is a greatly increased tax rate (now at 12.4% and they want to increase it further) on an unlimited tax base (all earned income), but they also talk about levying taxes on unearned income.

2) And the more important point is that there is only so much tax revenue. While you might make a dent in the $9 Trillion SS unfunded liability by removing the cap, what are you going to do about Medicare, Medicaid and pensions? Those are, after all, the really, really big problems.

Every time you take a little tax (a little bump in the cap gains rate for Obamacare, increasing/removing the cap for SS, etc.) you decrease the potential tax revenue -- in these cases, substantially -- available to solve other problems. You can't just keep increasing taxes forever. They do not get this.

They think it is a personal decision, not an economic one. That you suck money from the economy killing growth means nothing to them because they don't get it.
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