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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: SilentZ who wrote (215322)	1/18/2005 4:51:50 PM
From: neolib	Respond to of 1573954

The conservatives around here most certainly do, and they don't like it. So do I. SS is the ideal spin source. The tax itself is very regressive, the payout very progressive. The tax base itself is quite regressive in another front, it is based on wage income not asset income, a further poor/wealthy split which IMO is not defensible. The 6.2/6.2 employer/employee split is another oddity. Effectively 6.2% is from taxable income, 6.2% is non-taxable. Calling it the company portion vs individual portion is simply nuts. I have always wished that both halves were reported on an employees pay so that the average person realised just how much SS tax they paid(half being somewhat obscured in the current system). Note that the taxable/nontaxable split also causes a slight sift helping favoring higher income, since they pay more SS in at a higher income tax rate. The entire governmental accounting of SS funds is a scandal, but not many politicians will stand up to correct it, since it would drive the current budget further under water.