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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (54812)	5/23/2009 4:50:48 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Yeah, I find it very odd that the folks who need social security least don't have most of their income taxed to support the benefits they receive. If I were king, I'd make the SS tax a flat tax on all income, with no limits, and faze out benefit payouts for those retirees who continue to earn $250K per year, indexed for inflation, from their passive or active income in retirement. Then this thing would be completely solvent and would approach being fair to 99% of our citizens while also providing a social safety net.

To: Lizzie Tudor who wrote (54812)	5/23/2009 4:57:33 PM
From: Metacomet	Read Replies (1) \| Respond to of 149317

I do support a flat fica tax rate on ALL income including capital gains though. Actually, I would submit that we need a flat income tax...on all income. The trick is, as you suggest, characterizing all income as income. It has never been clear to me why different categories of income have different names and different tax treatments. Inheritance is income. It is not a "death tax". It is income to the heirs. Capital gains is income. Professional fees are income. It should all be categorized as such and a single rate applied to everything. From the first dollar of income to Gates last million. One rate. No deductions no exclusions. I believe that would generate enough revenue to fund our SS and Medicare systems too, at a single digit rate.