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Reply #82: So you would characterize Social Security as Social Insurance [View All]

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exboyfil Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 04:45 PM
Response to Reply #61
82. So you would characterize Social Security as Social Insurance
which it is in part, but what insurance pay out rate per dollar goes down the more you contribute to it. It usually goes the other direction (a higher dollar term policy costs less dollars per dollar coverage for example). So insurance is not the proper term for it.

If you want those income earners between about $50K-$106K on board for lifting the cap, then explain to them how they are carrying the burden of the system on their backs while those making over $106K get to skate from any additional obligation. It is not fair. I also think the ability for higher earners to opt out of the system is also not fair (in the case of the California teachers - it is really the state that benefits because its pension contribution is much lower than it would be under S.S.).

I am not attacking the system. I want more folks in the system preferably high income earners. I also think the system should be extended to all income - I don't understand why wage slaves alone have to carry the burden. Thos juicy dividends and capital gains which are taxed at 15% sure look like tempting additional targets for the S.S. system. The additional revenue will allow us to maintain a Pay as You Go system with reduced withholdings for all. Surely a campaign winner.

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