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View Diary: Paul Ryan shows he hasn't given up on privatizing a chunk of Social Security (75 comments)

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  •  In 1983 (5+ / 0-)

    Reagan and a Democratic congress “tweaked” Social Security to make it solvent forever by raising the retirement age, increasing FICA contributions and subjecting up to 50% of SS benefits to federal income tax for individuals with income of at least $25,000 ($32,000 for married couples).  In 1993, under a Democratic president and congress the amount of SS benefits subject to the income tax was raised to 85%.

    What makes anyone think a Democratic president and divided congress won't "reform" Social Security to the detriment of wage earners again?

    Wage earners have made enough "sacrifice" for the sake of the federal budget.  It's time to either subject all income to the FICA tax or lift the cap entirely on contributions based on earned income.

    "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

    by SueDe on Fri Oct 12, 2012 at 01:10:03 PM PDT

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