Glad We Didn't Tax All The Rich!

[ltorlo64]

We were told by the President that if we would only get the rich to pay “their fair share” our fiscal troubles would be over. That was the only thing he and the Democrats would talk about. No spending cuts, we need to tax and tax now. Well, on New Year’s Congress passed the tax hike on the rich, not as many rich as the President wanted, but still rich. That “tax bill” put us a little more than $400 billion in debt every year for a total of $4 trillion more added to the debt in 10 years. I am glad we didn’t tax as many as they wanted, WE COULDN’T AFFORD IT!

[old Grump]

You better get that promotion, you will need it to pay your taxes.

[Cypher]

Yeah, I hate to tell you but anyone that makes between $50k - $250K now has to pay 2% more in SS taxes that expired from being implemented two years ago.

It's nice to know anyone making over $50k a year is considered rich, after all the dims keep saying they only want to tax the ultra rich and not the middle class right.

[CigarGuy]

Yeah, I hate to tell you but anyone that makes between $50k - $250K now has to pay 2% more in SS taxes that expired from being implemented two years ago.

It's nice to know anyone making over $50k a year is considered rich, after all the dims keep saying they only want to tax the ultra rich and not the middle class right.

Don't have to make $50K. 2% "increase" of Social Security starts at dollar one of salary.

[ltorlo64]

Yeah, I hate to tell you but anyone that makes between $50k - $250K now has to pay 2% more in SS taxes that expired from being implemented two years ago.

It's nice to know anyone making over $50k a year is considered rich, after all the dims keep saying they only want to tax the ultra rich and not the middle class right.

While this is called a tax, it is more of a forced retirement investment that should have never been touched. SS is already in financial trouble so President Obama cuts the amount that is being paid into it while not cutting the number of people using it or changing when people are elligible. The money I pay in SS "taxes" is supposed to come back to me when I retire. Looking at it that way, since President Obama lowered the rate I pay, I should receive less when I start getting SS. Just like taxing the rich, the SS tax cut was a diversionary tactic to keep the population from looking at the real problem.

[CigarGuy]

And, you notice, he(Obama) reduced Social Security tax, NOT the income tax rate.
That's because half the people pay no income tax but, if working(I did say IF!), pay
social security tax.

[ltorlo64]

And, you notice, he(Obama) reduced Social Security tax, NOT the income tax rate.
That's because half the people pay no income tax but, if working(I did say IF!), pay
social security tax.

Hadn't thought about it that way, but you are correct. With about half not paying taxes the only way to buy their vote was to reduce SS taxes. Too bad people don't know enough about the program to realize that was an amazingly bad idea.

[nikko]

the tiny pissant money yuo pay into ss doesn't come CLOSE to what people draw out in medical care. average income here is 40k, pay 15% SS, so say 7k a year, for say, 45 yeaars, 300k or so. ONE heart attack, etc, and your care costs 1/2 millin and it goes on and on and on. People average drawing out 3-4x what they put into ss, thru ss, medicaid, etc, etc. many draw it without pay8ing ANYTHING into it, like kids, those hurt at birth or early in life, etc, etc, etc. it can't go on, guys. It's doomed. Our ridiculous expenditures on military and spy establishment (gaining us NOTHING but worldwide hatred of US) are wasting at LEAST 10% of our GDP, every year.

[Cypher]

The only reason 0 let it happen to start with is he made a promise to lower taxes and used that as the example. Regardless now we all pay more than we have been, so much for not taxing the little guy more.

[ltorlo64]

The only reason 0 let it happen to start with is he made a promise to lower taxes and used that as the example. Regardless now we all pay more than we have been, so much for not taxing the little guy more.

Too bad more people don't realize this.

[ltorlo64]

the tiny pissant money yuo pay into ss doesn't come CLOSE to what people draw out in medical care. average income here is 40k, pay 15% SS, so say 7k a year, for say, 45 yeaars, 300k or so. ONE heart attack, etc, and your care costs 1/2 millin and it goes on and on and on. People average drawing out 3-4x what they put into ss, thru ss, medicaid, etc, etc. many draw it without pay8ing ANYTHING into it, like kids, those hurt at birth or early in life, etc, etc, etc. it can't go on, guys. It's doomed. Our ridiculous expenditures on military and spy establishment (gaining us NOTHING but worldwide hatred of US) are wasting at LEAST 10% of our GDP, every year.

You are correct, but wrong at the same time. What we pay into SS does not cover what most people will take out, but it is because of longevity not medical issues. We also pay MEDICARE taxes which is supposed to pay for the MEDICARE program. The current tax rate for this is about 2.9% but with OBAMA CARE I believe the rate goes up.

The other area that SS hurting is in disability payments to people who never paid, or paid very little into SS. These people are "medically retired" for lack of a better term, but SS pays for them to live, not for their medical payments, MEDICARE is for that. I could be wrong or overly simplistic, but I don't think so.

As for our military, having been on active duty now for almost 29 years makes me biased. Alot of people do dislike us (or worse), but there are also a lot of people that when something happens, be it a natural disaster or an attack on an ally, wait expectantly for us to show up and make things better for them (and we generally do). Not saying there is not waste in the DOD, there is, but the majority of what service members do is useful and keeps us safe.

Like the avatar.