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View Diary: Barney Frank: Save Social Security by making the near rich pay a little more (146 comments)

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  •  How does taxing income (0+ / 0-)

    without paying additional benefits, which is the point of Social Security because it's not a parallel progressive tax system, going to address "economic inequality?"

    "The two pioneering forces of modern sensibility are Jewish moral seriousness and homosexual aestheticism and irony." Susan Sontag

    by Shane Hensinger on Tue Jan 08, 2013 at 07:39:24 PM PST

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    •  Here's my understanding. (0+ / 0-)

      People of all incomes get the same benefits from Social Security, right? Why should people with higher incomes get more benefits? Why not support that with a progressive taxation system instead of letting high income people off the hook?

       I'm not an economist, so I don't know. I resent that idea that high income people deserve more from Social Security or that in this recession that they shouldn't pay more since they make more.

       Why not just set up a flat tax then if you want to save high income people from progressive taxation? Granted that would be horrible, but is that what you want?

      •  No - Social Security benefits RISE (1+ / 0-)
        Recommended by:
        DSPS owl

        the more you pay into the system - they are not equal at all. There's a maximum and a minimum and levels in between based on income earned over your lifetime. So it does depend on how much you pay.

        "The two pioneering forces of modern sensibility are Jewish moral seriousness and homosexual aestheticism and irony." Susan Sontag

        by Shane Hensinger on Tue Jan 08, 2013 at 07:53:20 PM PST

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        •  That's true. (0+ / 0-)

          I was just reading up on how it works, trying to education myself. Apparently FICA is a regressive tax. The way I see it, changing it to progressive taxation during and hopefully after the recession sounds like a good idea. Make high people pay more since they earn more. They can afford to pay into it at higher rates.

           Perhaps it should become a system that benefits everyone equally with a progressive tax.

          •  *educate myself (0+ / 0-)

            Ugh. I'm so worked up over this. I'm sick of the rich getting their way and low income people getting the short end of the stick because of this country's love affair with those said rich people.

            •  FDR put Social Security in place (1+ / 0-)
              Recommended by:
              DSPS owl

              He was hardly a Republican shilling for the wealthy. He recognized that this was the best way of making sure everyone felt they were part of the program. The surest way to destroy it is to turn into what can be perceived, rightly or wrongly, as a welfare program.

              "The two pioneering forces of modern sensibility are Jewish moral seriousness and homosexual aestheticism and irony." Susan Sontag

              by Shane Hensinger on Tue Jan 08, 2013 at 08:24:43 PM PST

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              •  I know the history. (0+ / 0-)

                I know what Social Security does. I just wasn't clear on how FICA worked.

                 Anyhow I have no good answers of my own.

              •  One last thought. (0+ / 0-)

                Keep in mind Shane none of this is personal. I don't know you outside of DailyKos, so I can't judge your character.

                 If Social Security as a whole and FICA in particular could be turned into a thoroughly progressive system, in other words if it had a progressive tax scheme and distributed benefits equally, that seems like it would be an improvement over what we have now.

                 I can't bring myself to feel any concern for high income people. They can afford higher taxes and already have a plethora of tax cuts in their favor. Reducing the burden on the rest of us and making sure we all equally benefit from Social Security sounds way more important than high income people saving more money or what the right-wing thinks.

                •  It's similar to all other pension plans (0+ / 0-)

                  The more you pay into the system, the more you get out. I like it that way and I don't want to change it - other than maybe increasing the tax so the system is viable for 100 years. It's not a progressive income tax not should it be - we do not need two progressive income tax systems operating in tandem.

                  "The two pioneering forces of modern sensibility are Jewish moral seriousness and homosexual aestheticism and irony." Susan Sontag

                  by Shane Hensinger on Tue Jan 08, 2013 at 09:08:24 PM PST

                  [ Parent ]

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