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

To: Road Walker who wrote (516133)	9/25/2009 3:07:14 PM
From: Tenchusatsu	Respond to of 1579365

RW, > What are you talking about? I'm talking about the fact that if nothing is done, SS benefits will have to be reduced by 30% once the SS "trust fund" is exhausted. Strictly speaking, that day is projected to arrive on 2041, but since the "trust fund" is a bunch of self-issued IOUs, that day could be brought forward based on the Feds' ability to sell those IOUs to creditors like China. If SS benefits are to be preserved beyond the "day of reckoning," the SS tax would need to be increased from 12.5% to 17.875%. Alternatively we could do what Obama wants to do and lift the "FICA cap" on all income above $250K, which is essentially a 12.5 percentage point tax hike. Tenchusatsu