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Non-Tech : Who Really Pays Taxes? -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (283)	8/15/2000 5:08:02 PM
From: Les H	Respond to of 666

That would be an admission that social security is a welfare program and not a retirement or pension supplement. The original treatment of 401k's and 403b's were appropriate - contributions decreased the wage subject to social security tax.

To: Lizzie Tudor who wrote (283)	8/15/2000 5:25:35 PM
From: TimF	Respond to of 666

Lowering taxes on investment to "encourage" it is social engineering - just what conservatives say they don't like. Treat all income the same with a flat tax, investment income or no, and make investors pay into social security just like workers. Thats a truly flat tax, I would support that 1 - Would you really support one flat rate of tax even if it included all investment income? 2 - If I own shares of a company I am a part owner of the company. The company pays tax on its profits, so that tax on the profits has all ready been paid. However if the company issues a dividend or I sell my share I get taxed. That is double taxation. The corperate taxes allready reduced earnings and the value of the company I own. 3 - People who live off investments and have been successfull enough with their investments that they do not have to get regular employment don't pay social security taxes but they also don't get any benifit from social security. The "unearned" income doesn't help when calculateing social security benifits. 4 - Social security is in many ways a ponzi scheme anyway. The money it not actually invested. In theory it is invested in government bonds but this is the government writing IOUs to itself. Its like the $5k I borrowed from my 401K for a downpayment on a house. I theory I pay interest on it but I don't make any real return because I am paying interest to myself. The difference is that I do have the money invested in a house which might appriciate in value. The social security tax money is mostly just gone, and future benifits will have to come from future taxes (both social security taxes, and income taxes used to "pay back" the Social Security "trust fund". Tim