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View Diary: "Saving" Social Security (46 comments)

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  •  years ago (8+ / 0-)

    It seems like it was 2 or 3 years ago (maybe a lot longer) that I was listening to NPR and they had somebody on that talked about this.  I can't remember who it was or even which show it was.  I think he specifically suggested a 5% additional tax on long-term capital gains dedicated to SS funding.  This would have brought it back to the previous level of 20%.

    Now that I think more, I think it was in the aftermath of Bush II's "mandate" in 2004 to privatize SS, so probably around the end of 2005/beginning of 2006.  The starting point of the discussion was about investing SS funds in the stock market.  The guest pointed out the many problems with doing this, especially the risk of losing value.  His suggestion was this special tax on capital gains that would be an indirect "investment" (way of increasing value) in the stock market.  It would also insulate SS from market losses.  At worst, there would be no "gains" if nobody made money from buying/selling stocks.

    I thought it was a hell of an idea, but I haven't heard or seen anything even close to that discussed since.

    Government can't restrict free speech, but corporations can? WTF

    by kyoders on Tue Oct 02, 2012 at 06:33:05 AM PDT

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