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View Diary: Senate Democrats ready to push Social Security expansion (110 comments)

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  •  Not Payroll Tax - Increase in Capital Gains! (4+ / 0-)

    ?Are the people in congress incapable of figuring out that earned $ are not the problem, it is the preferential treatment of the enormous unearned income - investment income and capital gains - of the top tax brackets that are causing the the problems?  ?Or do they think we are incapable of figuring it out?

    Until there is a proposal which ends "carried interest" etc. and the artificially low rates on investment income, all this is just more hot air.

    •  all income the same (1+ / 0-)
      Recommended by:
      Grabber by the Heel

      wouldn't it be great if all income was treated the same? I wonder what that would do to the federal budget and to FICA taxes. It would be worth exploring.

      •  IT would completely over fund SS. (1+ / 0-)
        Recommended by:
        maybeeso in michigan

        We need about .7% of GDP to .8% for SS.

        Creating 20 million jobs thru infrastructure repairs at 36k each- Adds 89.2 billion in additional FICA each year, thats .6% of GDP.

        Raising the SS income cap raises .2% of GDP about 35 billion each year.

        Total is .8% of GDP, enough to see SS thru 2090 and beyond. Once the Boomers are dead SS revenues will grow slowly from 2050 to 2060, after which revenues will grow much faster.

        .................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 Tue Jun 10, 2014 at 11:26:09 AM PDT

        [ Parent ]

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