Social Security

[Anthony]

the major common lie about SS is the amount that each of us pay. 6.2% is often quoted, but in actuality, we all pay about 12.4%, as either our employer is paying that, or if you are self-employed, you pay the additional 6.2%.

What a great accounting scam.

[Bartruff1]

Originally Posted by Anthony

the major common lie about SS is the amount that each of us pay. 6.2% is often quoted, but in actuality, we all pay about 12.4%, as either our employer is paying that, or if you are self-employed, you pay the additional 6.2%.

What a great accounting scam.

Assuming , like health insurance, that you would get that money in wages. Like the poor, SS will always be with us because a significant number of people are not able to defer gratification and invest in their future. If you are 50 and you don't have sufficient wealth to quit working (if you want) you have made some very bad choices in the last 30 years. Of course, there are some victims of circumstances and/or bad luck but damn few. Like you, I know beer truck drivers and roofers and plumbers that are millionairs because they were honest and dependable and worked hard ..bought homes... and had the good sense to invest in their future when they were young and able to take advantage of compounding intrest and the tax code. Hell, I never bought a lunch for 30 years and drank coffee out of my thermos. I don't draw SS. Some of the kids I went to school with went into the Army right out of ROTC and retired as Captains, Majors etc..with a pension in their 40's...took a civil service job in Defense with a veterans preference and were eligible for another pension at 55 and then took another job to earn their quarters... I am likely wrong on the facts cuz Reagan put a end to some of the double and triple dipping...but those guys were smart !! Yes, they were all guys in those days..

[Anthony]

Originally Posted by Bartruff1

Assuming , like health insurance, that you would get that money in wages..

I'm guessing that the government knows that imposing any type of new tax will always have a backlash. I guess one way to minimize the backlash is to split the tax in half, half for the employee, coming out of their own wages. And the other half, demand that the employer, make the employer basically "give" a raise to all of their employees, although, the employees never see that raise, as it goes straight to the government.

What a beautiful system.

[HI Cobra]

[quote=Anthony;992415]I'm guessing that the government knows that imposing any type of new tax will always have a backlash. I guess one way to minimize the backlash is to split the tax in half, half for the employee, coming out of their own wages. And the other half, demand that the employer, make the employer basically "give" a raise to all of their employees, although, the employees never see that raise, as it goes straight to the government.

This has been going on for years. The biggest problem is that the government
keeps robbing the pot. Adding ILLEGAL aliens to the handouts does a lot to
escalate the situation. We are so doomed. All these law makers doing this
are not impacted by SS so what do they have to loose? MHO