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Fri Dec 21, 2012, 09:39 AM

SS should be a progressive tax rate.

currently it is a regressive tax due to the cap.
But higher income is associated with longer longevity...since higher incomes will collect longer, they should contribute more.

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Arrow 4 replies Author Time Post
Reply SS should be a progressive tax rate. (Original post)
Fresh_Start Dec 2012 OP
byeya Dec 2012 #1
Fresh_Start Dec 2012 #2
dkf Dec 2012 #3
DURHAM D Dec 2012 #4

Response to Fresh_Start (Original post)

Fri Dec 21, 2012, 09:41 AM

1. Yes, remove the cap.

 

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Response to byeya (Reply #1)

Fri Dec 21, 2012, 09:43 AM

2. but also increase the rate of personal contribution on higher incomes.....

income over 200K should pay a higher percentage than income of 50K

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Response to Fresh_Start (Original post)

Fri Dec 21, 2012, 09:44 AM

3. The IRR shows higher incomes return less than the lower incomes.

 

The progressivism is in the return, not in the contribution as lower contributions mean lower benefits.

http://www.ssa.gov/OACT/NOTES/ran5/an2004-5.html

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Response to Fresh_Start (Original post)

Fri Dec 21, 2012, 10:09 AM

4. It is regressive on the front end and progressive on the back end.

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