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Near the end of the article: “ To be clear, this is my plan, not President Trump’s“
Well I suppose it takes reading to the end of the article and not just getting excited about a headline.
The article doesn't seem to really exalt Trump's plan as much as saying that Trump's idea of changing how S.S. is financed could finally push the Republicans and Democrats together to form an actual, long-lasting solution.
Every experience with the OP gets me closer to scrolling by........
SS is collected in the form of a ‘payroll tax’ currently. How is collecting it as part of income tax change anything? Payroll is the main ‘income’ for most citizens.
But President Trump made clear in an Aug. 12 news conference that his real goal is to replace the Social Security payroll tax with revenues drawn from the general tax fund, the vast majority of which is income taxes. This idea faces both practical and philosophical hurdles, but could help the political parties finally come together to fix Social Security.
Every experience with the OP gets me closer to scrolling by........
SS is collected in the form of a ‘payroll tax’ currently. How is collecting it as part of income tax change anything? Payroll is the main ‘income’ for most citizens.
Apparently you didn't read the article.
I read far enough to trash your pick for the thread title. Wan to respond to post #3? Why don’t you tell me how payroll and income are different for those w/o investments?
Interesting article about the funding of social security.
Trump’s idea on changing Social Security funding has the potential to break an impasse on much-needed reforms - MarketWatch
Okay MR, forget his many bankrupticies, fraudulent businesses, bragging about stiffing contractors, try to focus on this: He promised to balance the budget but ballooned it the first chance he got. Other than he's your cult leader, why do you trust him with anything let alone money.
Ummmmmmmmmmm, you're in the wrong thread. This thread is about possibly eliminating FICA taxes and funding these programs through the general fund.
Ummmmmmmmmmm, you're in the wrong thread. This thread is about possibly eliminating FICA taxes and funding these programs through the general fund.
FICA taxes already go into the general fund. Social Security is already paid out of the general fund. Trump's proposal would just mean that the general fund would be paying out Social Security checks without the money to cover them coming in. The result would be an even more rapid ballooning of the deficit. This is not a good idea. It's like setting a house on fire because you can't agree with your spouse on the remodeling plan.
Well, if it were to happen then obviously tax rates would have to rise and it would be taxing income, basically the same thing that is happening now. Only many things would be easier than they were before without having a separate accounting system to funnel the money back and forth. Future rises in benefits would be easier to manage and the future of the programs wouldn't be in doubt.
Social Security is not going to change until our congress on both sides of the aisle stop worry about their next reelection campaign and worry about working for the "good" of the country. The single largest problem is political "lifers" and pandering to different demographics for votes. TERM LIMITS would be a start, but that would take a national referendum by the American people because politician are not going to do this on their own.
Every experience with the OP gets me closer to scrolling by........
SS is collected in the form of a ‘payroll tax’ currently. How is collecting it as part of income tax change anything? Payroll is the main ‘income’ for most citizens.
Ummmmmmmmmmm, you're in the wrong thread. This thread is about possibly eliminating FICA taxes and funding these programs through the general fund.
Makes it obvious then why you chose to title the thread "Trump Really Is A Stable Genius'.
Every experience with the OP gets me closer to scrolling by........
SS is collected in the form of a ‘payroll tax’ currently. How is collecting it as part of income tax change anything? Payroll is the main ‘income’ for most citizens.
The US Social Security system requires little more than some tweaking to continue on into the future. There are other government programs which need attention far more.
Regards, stay safe 'n well. Remember the Big 3: masks, hand washing and physical distancing.
Seriously!
For years the fix has been well known.
Raise the tax nominally.
Eliminate the income cap.
Raise the retirement age a little bit.
These are the same fixes Ronald Reagan did, and they worked.
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