Reply #40: Then do your homework.

[FormerDittoHead]

Remember in 1993 there was a "Social Security Summit"?

There were two "interesting" conclusions, IMO.

(not relevant to this thread but here it is:
1) SS money is NOT put into some "special holding fund" rather, it's put into the GENERAL fund and included with ALL taxes collected. The next time someone says that the rich pay most taxes, I would ask them to include SS taxes, which are only paid by those who make under about $89,000 and look at the pie chart again.

(relevant)
2) Any and all future shortfalls of SS could be dealt with by eliminating the ceiling cap, as the prior poster said.

Currently, if you make less than $89k, your (total) SS taxes is like 15%. If you make more than $89k, your taxes become... ZERO.

So, if you make 2 x $89k - $178, your effective rate becomes 7.5%.... Wait... the more someone makes, the lower their RATE? WAIT - YOU MEAN THE RICH PAY A *LOWER* PERCENTAGE, AND THE RICHER YOU GET THE LESS YOU PAY AS A PERCENTAGE? WHAT?? WHAT?? WHAT?? WHAT??

If we were to adopt a "flat" Social Security tax rate, however ("flat" being the shape of neo-con heads, so it appeals to them) and tax ALL incomes the same "flat" rate, the "Summit" concluded that there would NEVER be a "crisis".

Too bad no Democrat seems to have the go-nads to turn on his "masters" and make this suggestion...