"The creation of SS and Medicare is why the debt is so large"

Certainly the mis-management of it is a contributor.

Not the creation.

-Right now. an additional point for both the worker and the employer would put the SS equation into a stable position for the next 75 years

Has anyone wrote that down and proposed it?

-What good will it do? With this Congress?

Yes, it's futile at the point in time, but you'll love it.

but I don't know how many members of congress have the guts to introduce something like this?

A lame duck perhaps....but nobody with a future in politics.

My point is that it's not about it not moving forward.....it's that it will kill the political future of anybody who introduces it.

"Raising taxes?
Is that the "it" in this comment?"

Social security taxes....which affects anybody who earns an income.....and their employer.

What Mamdani is doing isn't directly impacting most New Yorkers.

Raising social security taxes a point will increase taxes on all workers.

"Millennials and Gen Z want a return on their taxes."

LOL.....that's a nice statement but how do they measure their "return on their taxes"?

You understand Social security taxes have a cap, right? Around $190K at this point.

Danforth suggested increasing the % from 6.2 to 7.2% of your wages.....same for their employer. This will render SS solvent for a long long time.

This doesn't impact wealthy tax payers at all except that as an employer.

Who can introduce something like that and not expect to be crucified for it?

-Bernie has proposed it several times over the years.

He's proposed raising the rate? The rate has been the same since 1990

-The cap can be raised.

The cap gets raised most years.

-The wealthy should contribute more to the society they live in which has provided for them their entire lives.

And that can easily be obtained through the tax code outside of SS.

but people who don't have the political will to go after the wealthy certainly don't have the will to stick it to someone making $50K.

If you try to alter social security taxes then you bring middle class and poorer Americans into the formula.

Which is why nobody touches it.

72

I should clarify that it's not "easy" no matter how you go about it.

-The socialism boogeyman is dying

we'll see.....

-Raising or eliminating the cap won't.

You mean like....doubling it?

So, again, you are going to stick it to folks who aren't uber wealthy. Leave the uber wealthy out of it almost entirely.

Do you even understand what you're saying?

If you raise the cap to $400K, how does that impact someone making $3M a year with a $50M net worth (nevermind all the billionaires you whine about daily here)? He probably sees a 2% increase in his overall tax bill by doubling the income subject to SS tax.

The guy making $400K? He sees a 15% increase. 2% vs 15%. And there are lot more of the guys making $400K who are going to be pissed off at the pol who does this to him/her.

sorry....I'm saying "guy"...don't mean it that way.

Is it fair to say you see the guy making $300K-$400K the same as the uber wealthy? You're unable to make the distinction?

Because you just suggested (along with another moron here unworthy of my attention) that doubling the income subject to SS is a good idea.

Sticking it to someone NOT uber wealthy while leaving the uber wealthy almost completely alone.

I'll bet all I got you didn't even realize you were doing that.

Because you can't expect the people with money to pay taxes.
#81 | Posted by Nixon

So you're trying to get into the wallet of someone making $380K a year while believing you're really going after billionaires.......who likely don't give a shit about that idea.

And why? Because the people making $300-$400K are "people with money"

I'm cool with raising the tax from 6.2 to 12 and reduce the income subject to it by probably half or even more.

The whole point is so the guy making $60K a year doesn't starve to death during his retirement because he has nothing else to live on....let him pay the fucking difference.