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  •  Actually creating 20 million jobs thru (0+ / 0-)

    infrastructure spending, returning to historical levels during the New Deal, and SSS will be good thru 2090. 6% of GDP.

    Will the GOP agree to a huge tax increase by removing the cap, I dont think so. A network exec making 20 million will pay 550k more in FICA, and so will their employer.

    And removing the cap creates a 168k annual SS benefit for some real rich retiree. Is that what we want to do?

    SS is wage insurance for wage earners.

    .................expect us......................... FDR 9-23-33, "If we cannot do this one way, we will do it another way. But do it we will.

    by Roger Fox on Mon Apr 15, 2013 at 07:49:18 PM PDT

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    •  Raising the cap happens routinely (0+ / 0-)

      Its been a part of SSI right along. When I first started working I made $1.25/Hr. By the time I finished I was making more than the cap.

      My benefits are averaged and reduced by taking early retirement at age 62 like most people did when it became evident what the Bush administration was doing to the economy. What I receive from SSI isn't enough to live on, but I do have other resources, Medicare, the VA, Maine Care; those parts of affordable care which are already in place, those parts of ARRA which took the form of grants to the states. I also get help from forestry programs, agricultural programs, low interest loans and the Free Clinic, Pen Bay and Maine General all provide social workers to help you work your way through the ropes.

      My kids are social lists. Their income is maybe in the upper three percent but where they live in New York things are pricey. Its good for their careers but not so good for their retirement savings.

      Social Security has to be flexible enough to deal fairly with both situations.

      Your fears about what the GOP will agree to are unwarranted. If they stay the course they are going the way of the Whigs, and if they don't then they'll do as they are  told.

      Live Free or Die --- Investigate, Incarcerate

      by rktect on Tue Apr 16, 2013 at 09:37:38 AM PDT

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