If you are making 250K/ year how much/ little will Obama let you keep?

Shrimp,

Econ 101..

There is a direct correlation to the tax rate and growth for businesses.

The higher the tax rate, the lower the growth, all other things equal.

LINK

Kenny,

I was not discussing the results of the supply and demand curve, rather that business cannot maximize profits however they want, if a business raises prices they lose revenues along a normal sloping demand curve.

Read the posts before and my reply to understand the context.

Please explain....I've served this country in WAR at

$88/mo and $128/mo after 3yrs. And I've paid SS for 40yrs.

SS is my right if only to get back what I paid in. When you're

62 or 66 you'll feel different about this. Are you sorry that your

parents draw SS????? Your comments piss me off to say the

least if thats how you feel.

3.5 million exemption/45% rate is the lowest estate tax ever in 90 years.  You act like he is coming up with some tax increase here.  The exemption was 600K/55% rate just 10 years ago.  So the exempt amount has been increased almost sixfold in 10 years.  At a 3.5 mil exemption less than one half of one percent of estates will pay even one penny.  Cry me a river. 

taxation is always #1....less of it puts more money in the hands of people who earned it. more of it puts hands in the government to buy votes in the form of goodies and giveaways

like a father to a shopaholic daughter we need to cut up their credit cards.

There you go telling the facts again.  When will you ever learn. 

Apache,

You receive military benefits, correct? I applaud your service to the country and you deserve benefits and I hope you get them.

The comment about "I have paid into SS for 40 years" is the exact point. SS is a TAX, it is not a 401k package. On your pay statement it says FICA TAX. There is no assurance that ANYTHING you pay to a government is insured or guaranteed. People assume that they are receiving these benefits and dont care how they get the benefit or WHO is paying for it. You realize that SS is a ponzi scheme, it only exists because the working class is paying for you, right?

The ammt you "paid in" was NOT invested, not even in a money market. There was no growth, no appreciation to that money.

To answer your question, my inlaws draw on SS and YES I am pissed. We have talked about the subject plenty of times and I have told them my opinion on the subject and I have discussed the subject here as well..

These are the reasons I disagree with SS-

1) Unlike any other government program, SS has no phase out. Welfare has a phase out, medicade has a phase out, most tax deductions have a phase out, a Roth IRA contribution has a phase out, even personal exemptions on your taxes have phase outs.

Your contributions to the system were paying for those receiving benefits BEFORE you. The system is not self sufficient even factoring in the borrowing from the government.

I have no problem with a government program, but there should not be ANY program that pays out benefits to those making more than the average person paying IN to the program. So if you are retired or  widowed etc and earning less than the average working family, then SURE the benefit is ok by me.

2) The current retirees have been a beneficiary of a 20 year housing and stock market boom and MANY retirees have not properly planned, overspent and still retired. The current retirees did not pay into the system with nearly the same terms in which current payees do, meaning there have been recent INCREASES in rate and increases in limits. Now a current worker has to contribute on over 100K of their earnings at a HIGHER rate than you did while contributing. That is because current outflows do not equal inflows..so the government SHIFTS the responsibility to the working class through higher taxation, same goes for Medicare.

People who are taking should not make more than the average family and there should not be COLA increases in SS benefits. When I retire and use my 401k/IRA, there is no COLA increase. If I want more money to my retirement I have to contribute to it or work longer to supplement it.

BTW Apache, when I am 62-66 I will still be working, by that time I reach that age the benefit period will be over 70, if the program exists at all.

Freid, wall has a point.  Sure, we should do more for the elderly, but if the elderly person is a multi-millionaire, and many are, why should they be collecting SS checks too?

There are frauds and abuses in EVERY program private or government. 

That is uncontrollable in any situation

That is not a "policy" issue but more of a "management" issue

SS checks are small to begin with.  Furthermore, why should it matter how big a balance sheet somebody has to receive their money back?  They paid money in, they should get it back.

 

Shrimp,

You judge pretty fast, how do you know what I do on my own time?

One of the poorer posts from you.

I am not greedy, rather the people who are TAKING and retiring early, while the working class supports them are taking.

The ELDERLY who have means do not need support. The elderly who planned and still need help and are making less than the average family of 4, they can have as much help as they need within the program.

And lastly, what program is privately funded that you are talking about, you lost me there fella.

Shrimp,

Forgot to say.. SS is a TAX. Anything that the government takes is a TAX, it is not a retirement program or investment. SS has never been invested in anything.

And you are mistaken about the reply to Depeche..the SS program CANNOT be opted out, it is not a management issue, not an abuse..it is a FLAW in the system.

Shrimp,

Come back to the conversation..you are losing me with these tangents.