Obama said subjecting more of a person's income to the payroll tax is the option he would push for if elected president. Currently, only the first $97,500 of a person's annual income is taxed. The amount is scheduled to rise to $102,000 next year. http://news.yahoo.com/s/ap/20071111/ap_po/obama;_ylt=AlbupC47GVoVPxSgizW6QIOs0NUE
Obama is an idiot. Social Security receipts get dumped into general revenue with only an IOU placed in the fund. This is just another tax grab, SS is insolvent. Our long term obligations will bankrupt this country.
We don't need that crap. What is he thinking? We have more than enough people funding social security; we don't need anything else caping our income.
That's what I see, a tax and spend grab. Congress has to stop spending money like water. Entitlement spending is out of control. U.S. NATIONAL DEBT CLOCK The Outstanding Public Debt as of 12 Nov 2007 at 06:26:46 AM GMT is:
Yeah, but we've only got one small government, economic reform candidate, and some people think he is a whackjob because he isn't terrified that Iran might get a nuke or two in 5 years, when there are approx. 100 unaccounted for nukes from the former Soviet Union. Our apathy and ignorance will be our undoing. RESTORE THE REPUBLIC!
The typical liberal response: Raise taxes to pay for it. The typical conservative response: Cut taxes elsewhere, then raise taxes to pay for it. The Ron Paul response: Should we debate where the money comes from, or debate whether or not we should spend it?
I wouldn't call Obama an idiot, he has a talent, in a way. He is very good at avoiding issues, and all aspects of agit-prop. There is a lot of politicians more dummy than him
forget SS, I just opened up a 403(b) for my wife and I and am going to start an IRA in January...At least those are ways that I can get some tax benefits without having to count on about SS (which I will probably never get anyway)
They are about to make it illegal to keep your earnings, but the legislature to make failure to pay inflation a crime is not on the table, yet... Are you sure you want to put what you have into dollars? They will be worthless by the time amero is introduced, this is likely your last chance to avoid working until you are 80
Yep. Instead of taxing more, how about pulling our butts out of all these overseas conflicts. Strengthen our borders, keep the money back into strengthening our dollar, jobs, healthcare, R&D grants, paying off our dept to other countries, and education. I heard we're spending $12 Billion each day we're in Iraq. Think about how much closer we'd be to alternative fuel usage if that money was diverted toward grants and competitive bidding awards!
More than enough? Once the baby boomers retire, we'll be hosed. We don't have enough working population to fund it. Besides, as mentioned by Guerrilla, we're dumping into the general fund along with spending it all.
Spending is the main problem, and it has been out of control in the past few years. The government NEEDS to stop spending so much money. Getting out of Iraq is a start, but we've also got to cut the earmarks and other pork that gets stuffed into spending bills. It's like everyone in Congress has access to the company checkbook, and nobody wants to do anything to stop it. This is very close to becoming a crisis situation, and politicians seeking election avoid the issue because it's boring and not a "hot button" topic like abortion or immigration. We are in serious trouble, and very few presidential candidates are even acknowledging it. I disagree with Ron Paul on many issues, but I think he's hitting the nail right on the head when it comes to federal spending.
It seems to me that both Republicans and Democrats (in general) spend too much. Republicans say there's too much government and too many taxes, but it seems to me that they are just as guilty. I think most politicians want their pet projects to pass the legislature so they have a legacy. Something in which they can say, I got that stadium built (at the expense of maintaining our infrastructure). All this porkbarrel spending is stupid. I'd love to see every politician spend a couple months fighting in Iraq, living without the protection of healthcare insurance, living paycheck to paycheck, and wondering if and when they'll retire. They have no real background in what most Americans are dealing with on a day to day basis. Instead they just spend, spend, spend.
I say go ahead and raise it! If we don't especially for social security we won't have social security much longer. After the baby boom generation retires and depletes social security all us young guys will be paying into it yet no one will get any when they retire. If they raise taxes we will have a chance to get a return from social security when we retire. Think about it...
Yes, but we're spending the money elsewhere. We could increase the taxes until we're blue in the face, but they keep spending it on other things. As said above, our spending is out of control. Companies like Halliburton and other Bush/Chaney related companies reaping the "rewards" of the war, etc. The Good Ol Boys are rewarding one another at the cost of the rest of the population. It's sick!
Until you address the monetary policy that allows the fiscal policy to deficit spend, this problem will never be resolved.
The first step to resolve the fiscal problem is to stop borrowing and pay as you go. Debt spending only leads to waste because the hards choices don't have to be made.
I agree with you on the Obama comment.. But as for SS.. The funds are not touchable. The interest however is. The same thing happens with the airport funds.. The money just sits there so the interest can be harvested. IMO, SS is defunct and should be dismantled... Let me keep my money tax free and place it in my own retirement account. I think I know better how to spend my own money.
I am in total agreement with you on that one, only problem is fixing the issues that would arise from doing such. People who have already put away their entire life and never got the option away from SS, all the $$ we've already put in ourselves, then of course you have so many who will simply refuse to save unless forced to. I'm all for personal responsibility but you know damn well what would happen when those who chose not to save 'or could not' can't work anymore, the outcry will come and some huge tax will be done to totally pay for these people as well. Grrr, I am with you, just finding the correct way to do it.