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Sun Feb 10, 2013, 11:14 AM

The True Costs of Tax Breaks and Social Security

The Credit Suisse list of the Top 20 US "tax expenditures" totaled $900 billion for fiscal year 2012. That list includes two items that affect retirement.

The larger category, which comes in at number two on the Credit Suisse Top 20 list, is a $138 billion subsidy for private pensions. It accounts for 15.3 percent of the Credit Suisse Top 20. Number 13 is Social Security at $26 billion, at 2.9 percent of the Credit Suisse $900 billion.

Those private retirement subsidies cost over 5 times as much as Social Security payments. So, if cutting costly tax breaks is the goal, then we get far more savings by putting tax subsidies to private pensions on the chopping block. But for some reason, those private tax breaks are getting a pass, while paying Social Security benefits are taking all the heat.


SOURCE:
http://www.truth-out.org/news/item/14394-the-true-costs-of-tax-breaks-and-social-security


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Reply The True Costs of Tax Breaks and Social Security (Original post)
SHRED Feb 2013 OP
annabanana Feb 2013 #1
dkf Feb 2013 #2
RC Feb 2013 #3

Response to SHRED (Original post)

Sun Feb 10, 2013, 11:16 AM

1. WAY too much info for the knuckle-dragging mouth breathers...

They need slogans of less than 4 syllables, (10 if you can make it rhyme). If you can come up with THAT, repeated shouting of it in their ears might eventually make a dent.

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Response to SHRED (Original post)

Sun Feb 10, 2013, 11:18 AM

2. There isn't a fear of its demise but a fear it will need to cut benefits by 25% when the fund goes

 

If that isn't concerning then who cares?

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Response to SHRED (Original post)

Sun Feb 10, 2013, 11:52 AM

3. At the moment, it is far easier to raid the private pensions, than it is Social Security.

 

That should be obvious by now.

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