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Would you mind paying $12,272.73 in taxes every year?

JohnDB

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U.S. government - percentage of tax revenue 2026 | Statista.

Here's a link explaining where our Government gets all it's money....
Most of it comes from you and me through income taxes...

And if you think that the elite are going to actually get taxed... you are nuts. They will figure out a way to dodge the taxes no matter what it takes.
 

Concerned American

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Again, not the point. It doesn't matter if you don't outlive the balance. What matters is that if you do, then it is no longer "your money".

Not germaine to the point--as in any insurance policy--which it is, hence Social Security Insurance, if a claim is paid on any insurance policy, chances are you receive more than you paid in premiums. It is a gamble for sure, but by your statement, you believe if you win in Vegas, it is not your money. Is that a fair comparison?
 

Concerned American

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When it is taken with the narrative that it will be returned to you upon retirement, then your response paints you as a nutcase.

However, the narrative is, "It's My money so it isn't welfare." True, right up to the point that you recieve the very last penny you put into it.

But it gets better. SS is a lifetime benefit. Meaning once you collect, if you live well beyond your SS balance, you continue to receive the money you DID NOT put in. At that point, it is now an entitlement.

Capish?
Ever hear of an annuity? Those contributions that you make for 50 years ARE earning interest and it is calculated using an algorithm so that it is equitably distributed. That is why you can earn more SS by waiting longer to start collecting. It damn sure is not an entitlement in the sense that welfare is an entitlement.
 

Stryder50

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Let millionaires and billionaires pay very high taxes. They do not need all the luxury items they have.
Putting out of work those people whom make those luxury items.
 

toobfreak

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How much more would you like to pay?
How much less would you like to collect?

Wow, this really means a lot to you, doesn't it? Do you think we will solve Social Security here on USMB?

All I'm saying is that it has been known for a long time that SS was failing, I think due they say now to fail by 2035! As an engineer, it was my job to find out why stuff was breaking or broken and FIX it, since obviously, the creators of SS didn't think far enough ahead to build in durability, but I guess this is just more than we can expect out of politicians whom all their aims now are mainly to get elected then spend the rest of their life getting rich off the taxpayer putting in maybe six months of work out of the year. And if it doesn't at least immediately enrich their pockets, then at least it has as their only other interest, to be a benefit to advance their party.

America has become whatever is left over-- shit out unwanted by the two parties.
 

JohnDB

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Wow, this really means a lot to you, doesn't it? Do you think we will solve Social Security here on USMB?

All I'm saying is that it has been known for a long time that SS was failing, I think due they say now to fail by 2035! As an engineer, it was my job to find out why stuff was breaking or broken and FIX it, since obviously, the creators of SS didn't think far enough ahead to build in durability, but I guess this is just more than we can expect out of politicians whom all their aims now are mainly to get elected then spend the rest of their life getting rich off the taxpayer putting in maybe six months of work out of the year. And if it doesn't at least immediately enrich their pockets, then at least it has as their only other interest, to be a benefit to advance their party.

America has become whatever is left over-- shit out unwanted by the two parties.
It was always known to be a shortsighted set up of a Ponzi scheme...it got exacerbated during Clinton's years when all a person had to do was claim to be an alcoholic and they could collect disability benefits regardless of how many calendar quarters they paid in.

It's been known to be bankrupt since the '60's...

They could have phased it out for mandatory private investment and matching contributions by employers...but instead the Democrats wanted to reduce personal wealth and control the masses by handling all the money themselves.
 

DudleySmith

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Actually booze taxes were the source of a lot of tax revenue, for both Fed and state govts. Income taxes came from Republicans, during the Civil War.

And I forgot to add land sales. One of the scams Lincoln's Congress needed to get rid of Southerners for besides passing the huge tariffs and railroad scams were the 'Homestead Acts' and 'Land Grant Acts'; income taxes and tariffs were to replace the income from land sales. Less than 25% of those suckered into homesteading, an associated scam to augment the railroad scams, ever managed to complete the deals for their 'free land', and the railroads ended up with massive mineral rights all across the country.
 

DudleySmith

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How high?

At least as high as working and middle class people pay, around 16%. And actually all taxes could be reduced to less than 7% if everybody paid their share and not have all the off-shoring scams and ridiculous deductions.
 

Smokin' OP

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Why should they? Did they "steal" their money from the have nots, or did they earn it?
Yes, A LOT sole their $$$ from the have nots.

Washington, DC, June 5, 2018—A new report finds that many large corporations operating in the United States have boosted their profits by forcing employees to work off the clock, cheating them out of required overtime pay and engaging in similar practices that together are known as wage theft.

The detailed analysis of federal and state court records shows that these corporations have paid out billions of dollars to resolve wage theft lawsuits brought by workers. Walmart, which has long been associated with such practices, has paid the most, but the list of the most-penalized employers also includes Bank of America, Wells Fargo and other large banks and insurance companies as well as major technology and healthcare corporations. Many of the large corporations are repeat offenders, and 450 firms have each paid out $1 million or more in settlements and/or judgments.
 

Toddsterpatriot

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Wow, this really means a lot to you, doesn't it? Do you think we will solve Social Security here on USMB?

All I'm saying is that it has been known for a long time that SS was failing, I think due they say now to fail by 2035! As an engineer, it was my job to find out why stuff was breaking or broken and FIX it, since obviously, the creators of SS didn't think far enough ahead to build in durability, but I guess this is just more than we can expect out of politicians whom all their aims now are mainly to get elected then spend the rest of their life getting rich off the taxpayer putting in maybe six months of work out of the year. And if it doesn't at least immediately enrich their pockets, then at least it has as their only other interest, to be a benefit to advance their party.

America has become whatever is left over-- shit out unwanted by the two parties.

Do you think we will solve Social Security here on USMB?


Not if we don't discuss the needed changes.

I think due they say now to fail by 2035!

The Trust Fund is now projected to be depleted by 2033.

 

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