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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (10590)

2/13/2017 12:35:38 PM

From: koan

Read Replies (1) | Respond to of 361115

Other countries do it, why not us?

And what do you mean confiscatory taxation? And what problems?

The cap involves a cutoff for increases in payments, not just for increases in taxes.

Life the cap and you have more Social Security spending, not just higher taxes.

Remove the cap completely and you get confiscatory taxation, which causes other problems.

In any case the point isn't addressing just Social Security, you also have Medicare, Medicaid, Obamacare subsidies etc. No tax rates in US history, from single digits to 94 percent top tax rate, has brought in enough revenue as a percent of GDP.