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View Diary: Social Security trustees report show program is still not in crisis (33 comments)

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  •  No crisis, but we should STILL "Scrap the Cap" (3+ / 0-)
    Recommended by:
    Ginny in CO, foresterbob, OooSillyMe

    on income that is taxed for Social Security.

    Currently, only the first $113,700 of salary is taxed for Social Security. Interest and capital gains income is not subject to any Social Security tax at all.

    As things stand now, the Trust Fund will run out in 2033 (although money being paid in then will allow 75% of benefits to be paid after that, so benefits will continue).

    But if this cap was eliminated, then all benefits could be paid WAY beyond 2033.  We could also use some of the money to lower the retirement age and increase benefits!

    •  Also reduce unemployment & underemployment (5+ / 0-)

      and stop downward pressure on wages.

      None of these numbers about the SS Trust Fund are surprising considering our last several years of high unemployment.  

      Fix the economy. Create some jobs.

      "If you can't take their money, eat their food, drink their booze and then vote against them, you have no business being in DC."

      by Betty Pinson on Fri May 31, 2013 at 06:07:13 PM PDT

      [ Parent ]

    •  You do understand that scrap the cap creates a (2+ / 0-)
      Recommended by:
      kareylou, OooSillyMe

      $14,000 monthly check for an uber rich person collecting SS. Thats a 168k a year.

      SS is wage insurance. Do we want to insure a network exec making 20 million a year?

      .................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 Fri May 31, 2013 at 06:12:59 PM PDT

      [ Parent ]

      •  Even if a few rich people get large SS payments, (0+ / 0-)

        removing the cap still extends the trust fund for a very long time.

        •  Job creation extends the trust fund thru 2090 (0+ / 0-)

          SO....... U R against job creation...

          Kidding.

          Kind of.

          .................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 Fri May 31, 2013 at 07:09:14 PM PDT

          [ Parent ]

      •  But the cap certainly could be raised (0+ / 0-)

        and capital gains could certainly be included.

        •  Totally over funds SS. (1+ / 0-)
          Recommended by:
          kareylou

          And fore ever changes something thats wage insurance.

           photo SSDblogathon2.png

          Look I understand raising taxes on the uber rich, gimme dat 70% top rate, cap gains up to 28-33%.

          Just leave SS alone, its fine. Plaese dont have the urge to fix something thats not broken.

          Heres a great article from the Daily Kos Social Security Defenders blogathon back in March.
          http://www.dailykos.com/...

          .................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 Fri May 31, 2013 at 07:16:22 PM PDT

          [ Parent ]

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