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In reply to the discussion: Democratic Senator Introduces Bill To Lift Social Security’s Tax Cap, Extend Solvency For Decades [View all]Cynicus Emeritus
(172 posts)22. All income should be considered ordinary income
and taxed equally, and for Social Security purposes too, since Social Security cash flow has been withdrawn to fund all Americans and wage our wars and provide foreign aid.
All income (dividends, cap gains, muni bonds, 401K/IRA withdrawals, carried interest given to the hedge fund guys, and even estate income and taxes) should be taxed at ordinary income rates and the rates could then be made more progressive and lowered for most.
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Democratic Senator Introduces Bill To Lift Social Security’s Tax Cap, Extend Solvency For Decades [View all]
Mass
Nov 2012
OP
I will be contacting my 2 Senators about this. Both are Democrats, but I trust neither on this.
forestpath
Nov 2012
#3
Ding, Ding, Ding .... winner! Solvent for decades, unlike, say, everything else.
SomeGuyInEagan
Nov 2012
#21
Sen Begich has wisely included language that will diffuse the usual RW argument against lifting
stopbush
Nov 2012
#18
Great idea...but why not make it more simple by just raising the payroll cap as much as needed.
Auntie Bush
Nov 2012
#19
This is kind of a step in the right direction but I think there needs to be some way
TheKentuckian
Nov 2012
#33
I fully support this and have for years. Obama talked about lifting the cap in 08
Bluenorthwest
Nov 2012
#52
Many benefit receivers need this.They have to live on less than $25,000. a year & that's if you are
judesedit
Nov 2012
#63