Originally posted by NY Madman:
Originally posted by Mobycat:
[b]From the census bureau.
Why is the Census Bureau any type of authority on earnings? They only know what people tell them. The actual and correct data would have to come from the IRS or the Social Security Administration. They are the only federal agencies that would have correct and factual data on earnings.[/b]Do you have excel?
Direct from the IRS Note that the data is number of returns, not individuals - some could be joint. $100,000 or more - 10.7%. NOT even close to the 20% figure you're trying to claim. And since it's possible some could be joint, it's guaranteed to be lower than 10.7%.
[b]Not fair to lower income. If people want a "fair tax," then let's do it across the board.
Some will say income tax is not fair to higher incomes - since they pay a higher percentage. But Social Security is the exact opposite - lower income people pay a higher percentage than high income.
What is "across the board" to you? All income being taxable for social security?
Every employed worker pays the exact same percentage into social security taxes. It is curently 12.4%. The employee pays half and the employer pays half (It used to more than that).
The SS payroll tax is only levied on the first $97,500 of taxable income. You claim this is not fair. That is not the truth. It's probably unfair to subject taxable earnings that high for social security.
[/b] I'm not arguing whether SS is bad in itself. That's another argument entirely.
As far as the maximum allowed to get back from Social Security - that should be raised accordingly.
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"Nature has constituted utility to man the standard and test of virtue. Men living in different countries, under different circumstances, different habits and regimens, may have different utilities; the same act, therefore, may be useful and consequently virtuous in one country which is injurious and vicious in another differently circumstanced" - Thomas Jefferson, moral relativist
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