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FICA is a tax based on income.What do you remember about the FICA tax rate in the 1980s?I could've sworn remembering tax revenue skyrocketing.
FICA tax is not Income Tax. Two different animals so not even remotely associated with the issue being discussed. With regard to SS we didn't have many choices the prior generations had already screwed future generations so the rates had to go up for that system to pay for the retired folks to get their discounted SS checks.
You never proved your 3% fable.
The problem is the capital gains tax rates being lower. That and the fact FICA pays for too much. That and the regressive nature of state and local taxes.
The poor tend to do ok but the middle class gets hosed. Anyone relying on labor gets a raw deal too including some of the rich.
The problem is the capital gains tax rates being lower.
Why is that a problem?
The poor tend to do ok but the middle class gets hosed.
Define middle class. Defined hosed.
The ignorant false narrative of the greedy, lazy Dumbocrat continues to collapse under the weight of reality. Here is undeniable proof that higher taxes cause people to work less. In fact, they stop working completely (for the U.S.) and start working for nations that embrace their efforts instead of demonizing it. What now idiot - er, uh ilia? Come on, give us some really "clever" excuse for this undeniable reality that is backed up with multiple links from multiple sources...
Americans renouncing citizenship in record numbers, seek to avoid tax | Fox News
Americans turn in passports as new tax law hits - Sep. 4, 2013
5 citizens who left the U.S. to avoid paying tax - CBS News
That just demonstrates people will try and avoid paying taxes when given the opportunity. That doesn't mean they stop working. Did you think you stumbled onto something meaningful?
Wrong. They do stop working if the tax rate is oppressive enough. In Sweden you can't find a doctor after 5:00 PM. They're all out on the tennis court. It doesn't pay them to work more than 40 hours a week because most of the additional income would be taxed away by the government.
How much of those gains did you realize?
$16.5M minus $495k.
You realized $16.5 million in a taxable account and only paid 3%?
There's more stealing going on than you know when your Democrat Congressmen find a person who's broke or in business failure, makes a law to bail him out, but puts him on the hook forever to raise funds for their quid-pro-quo careers, emptying the taxpayer's hard-earned taxes from the treasury, dipping into their expropriated Social Security funds for their favorite pet rock projects, then tarnishing Republicans for all their sneaky dealing for other things, such as "accidents" they conveniently dispose of business' getting experts to pinpoint the problem, and really pulling the wool over the eyes of the public with the press moving in to show dead birds, dead fish, and chest-thumping Sean Penns coming in to say something nasty about Republicans for free so the base will have a celebrity said so piece of bullshit.You don't believe in progressive taxation? It is based on having people pay taxes based on what they can afford to pay and based on how much they have benefited from society.
Calling taxation stealing is pretty stupid.
They're turning this country into a communist nation, and when they're done, pal, you're dead if you criticize them in any way, because communists accept zero free speech from anyone except themselves. So then it's lie, lie, lie, lie, lie, lie, lie, and when you call them on it, they just kill you.
Idiot.
See, here is where you prove your lack of intelligence..
"dipping into their expropriated Social Security funds "
The Social Security Administration managed the trust funds for OASI and and DI. These trust funds have held a considerable surplus. Instead of leaving it doing nothing, they collect intrest on it by buying Treasury Bonds. T-bills are the most risk free investments in the world. That is why every bank, hedge fund, and foreign country buys them.
It would be really stupid for SSA to buy stock instead of T-Bills.
Clearly, you simply make shit up.
There's more stealing going on than you know when your Democrat Congressmen find a person who's broke or in business failure, makes a law to bail him out, but puts him on the hook forever to raise funds for their quid-pro-quo careers, emptying the taxpayer's hard-earned taxes from the treasury, dipping into their expropriated Social Security funds for their favorite pet rock projects, then tarnishing Republicans for all their sneaky dealing for other things, such as "accidents" they conveniently dispose of business' getting experts to pinpoint the problem, and really pulling the wool over the eyes of the public with the press moving in to show dead birds, dead fish, and chest-thumping Sean Penns coming in to say something nasty about Republicans for free so the base will have a celebrity said so piece of bullshit.You don't believe in progressive taxation? It is based on having people pay taxes based on what they can afford to pay and based on how much they have benefited from society.
Calling taxation stealing is pretty stupid.
They're turning this country into a communist nation, and when they're done, pal, you're dead if you criticize them in any way, because communists accept zero free speech from anyone except themselves. So then it's lie, lie, lie, lie, lie, lie, lie, and when you call them on it, they just kill you.
Idiot.
See, here is where you prove your lack of intelligence..
"dipping into their expropriated Social Security funds "
The Social Security Administration managed the trust funds for OASI and and DI. These trust funds have held a considerable surplus. Instead of leaving it doing nothing, they collect intrest on it by buying Treasury Bonds. T-bills are the most risk free investments in the world. That is why every bank, hedge fund, and foreign country buys them.
It would be really stupid for SSA to buy stock instead of T-Bills.
Clearly, you simply make shit up.
There's more stealing going on than you know when your Democrat Congressmen find a person who's broke or in business failure, makes a law to bail him out, but puts him on the hook forever to raise funds for their quid-pro-quo careers, emptying the taxpayer's hard-earned taxes from the treasury, dipping into their expropriated Social Security funds for their favorite pet rock projects, then tarnishing Republicans for all their sneaky dealing for other things, such as "accidents" they conveniently dispose of business' getting experts to pinpoint the problem, and really pulling the wool over the eyes of the public with the press moving in to show dead birds, dead fish, and chest-thumping Sean Penns coming in to say something nasty about Republicans for free so the base will have a celebrity said so piece of bullshit.
They're turning this country into a communist nation, and when they're done, pal, you're dead if you criticize them in any way, because communists accept zero free speech from anyone except themselves. So then it's lie, lie, lie, lie, lie, lie, lie, and when you call them on it, they just kill you.
Idiot.
See, here is where you prove your lack of intelligence..
"dipping into their expropriated Social Security funds "
The Social Security Administration managed the trust funds for OASI and and DI. These trust funds have held a considerable surplus. Instead of leaving it doing nothing, they collect intrest on it by buying Treasury Bonds. T-bills are the most risk free investments in the world. That is why every bank, hedge fund, and foreign country buys them.
It would be really stupid for SSA to buy stock instead of T-Bills.
Clearly, you simply make shit up.
This is so stupid it's downright comical. I don't even know where to begin....
First, the fact that you believe that Treasury Bonds are "the most risk free investment in the world" is fucking fall down hilarious and proves your a blind partisan hack who doesn't have a clue what is going on in the real world. Despite all of Obama's disgusting bullying, threatening, and bribing, the bond rating of the United States has been lowered because Obama has bankrupted this nation and we can no longer pay our bills (hint: the "most risk free" investments in the world don't get their credit ration lowered, stupid).
Second, the fact that you believe the SSA should invest in "t-bills" is possibly more fall down hysterical than your previous idiot statement. The SSA is the federal government, dumb ass. So you want them to invest in.....themselves?
Think of the pure idiocy of that statement. Can you imagine if Apple bought their own stock that they issued? You can only bring additional cash if someone outside of your "circle" (business, government, etc.) buys the stock. Dummy here is too stupid to realize that if Accounts Receivable receives $10 from a stock which was purchased by their own Accounts Payable, the net result is $0.
The US has spent $2 billion each week in Afghanistan for over 10 years and the Iraq war cost us over $4 trillion for absolutely no reason. After ten straight years of constant war and torture, The War Against Terrorism is as close to being won as the 40-year-old war on drugs which was started over complete lies.
So why does every jagoff GOP shill claim to be the party of "fiscal responsibility" and blame Obama for the country being broke?
What chapter in your basic economic text explains how one percent of the population increased their incomes by 31% between 2009 and 2012 while the incomes of the remaining 99% grew by 0.4%?Where is Democracy to be found in a world where the three richest individuals have assets that exceed the combined GDP of 47 countries?
A world where the richest 2% of global citizens "own" more than 51% of global assets?
Ready for the best part?
Capitalism ensures an already bad problem will only get worse.
"The Organization for Economic Cooperation and Development (OECD) states that income inequality 'first started to rise in the late 70s and early 80s in America and Britain (and also in Israel)'.
"The ratio between the average incomes of the top 5 per cent to the bottom 5 per cent in the world increased from 78:1 in 1988, to 114:1 in 1993..."
"Stiglitz relays that from 1988 to 2008 people in the worlds top 1 per cent saw their incomes increase by 60 per cent, while those in the bottom 5 per cent had no change in their income.
"In America, home to the 2008 recession, from 2009 to 2012, incomes of the top 1 per cent in America, many of which no doubt had a greedy hand in the causes of the meltdown, increased more than 31 per cent, while the incomes of the 99 per cent grew 0.4 per cent less than half a percentage point."
Spotlight on Worldwide Inequality
There are alternatives that don't require infinite "growth."
folks that put this kinda crap up will insist that the economic pie is a zero-sum equation...
but it ain't... capital is built up and increased by the hard work and sweat of millions of lowly folks workin' their asses off...
'n if you don't know what I'm talkin' about... go take a lesson in basic economics...
There's more stealing going on than you know when your Democrat Congressmen find a person who's broke or in business failure, makes a law to bail him out, but puts him on the hook forever to raise funds for their quid-pro-quo careers, emptying the taxpayer's hard-earned taxes from the treasury, dipping into their expropriated Social Security funds for their favorite pet rock projects, then tarnishing Republicans for all their sneaky dealing for other things, such as "accidents" they conveniently dispose of business' getting experts to pinpoint the problem, and really pulling the wool over the eyes of the public with the press moving in to show dead birds, dead fish, and chest-thumping Sean Penns coming in to say something nasty about Republicans for free so the base will have a celebrity said so piece of bullshit.
They're turning this country into a communist nation, and when they're done, pal, you're dead if you criticize them in any way, because communists accept zero free speech from anyone except themselves. So then it's lie, lie, lie, lie, lie, lie, lie, and when you call them on it, they just kill you.
Idiot.
See, here is where you prove your lack of intelligence..
"dipping into their expropriated Social Security funds "
The Social Security Administration managed the trust funds for OASI and and DI. These trust funds have held a considerable surplus. Instead of leaving it doing nothing, they collect intrest on it by buying Treasury Bonds. T-bills are the most risk free investments in the world. That is why every bank, hedge fund, and foreign country buys them.
It would be really stupid for SSA to buy stock instead of T-Bills.
Clearly, you simply make shit up.
This is so stupid it's downright comical. I don't even know where to begin....
First, the fact that you believe that Treasury Bonds are "the most risk free investment in the world" is fucking fall down hilarious and proves your a blind partisan hack who doesn't have a clue what is going on in the real world. Despite all of Obama's disgusting bullying, threatening, and bribing, the bond rating of the United States has been lowered because Obama has bankrupted this nation and we can no longer pay our bills (hint: the "most risk free" investments in the world don't get their credit ration lowered, stupid).
Second, the fact that you believe the SSA should invest in "t-bills" is possibly more fall down hysterical than your previous idiot statement. The SSA is the federal government, dumb ass. So you want them to invest in.....themselves?
Think of the pure idiocy of that statement. Can you imagine if Apple bought their own stock that they issued? You can only bring additional cash if someone outside of your "circle" (business, government, etc.) buys the stock. Dummy here is too stupid to realize that if Accounts Receivable receives $10 from a stock which was purchased by their own Accounts Payable, the net result is $0.
The sure sign of a terminal sucker is expressing a feeling of confidence knowing his Social Security is invested safely in the SS "Trust Fund."
$16.5M minus $495k.
You realized $16.5 million in a taxable account and only paid 3%?
Yes.
Obama doesn't "escape blame" for anything that happened on his watch, but Bush started these wars after his father and the CIA ensured that Afghanistan could never be won. Afghanistan cannot be won militarily. Iraq was always a loss. And there isn't a dollar price for our nation's soul when we beat POWs to death in secret prisons and rain Hellfire missiles on civilians from remote-controlled planes.The US has spent $2 billion each week in Afghanistan for over 10 years and the Iraq war cost us over $4 trillion for absolutely no reason. After ten straight years of constant war and torture, The War Against Terrorism is as close to being won as the 40-year-old war on drugs which was started over complete lies.
So why does every jagoff GOP shill claim to be the party of "fiscal responsibility" and blame Obama for the country being broke?
Your figures are grossly inflated fabrications, so why would anyone waste their time arguing with you? Furthermore, your messiah Obama is the one who said Afghanistan is the war we should have been fighting, so how does he escape blame for any of the spending the occurred on his watch?
The sure sign of a terminal sucker is expressing a feeling of confidence knowing his Social Security is invested safely in the SS "Trust Fund."
Is your fear default?
The sure sign of a terminal sucker is expressing a feeling of confidence knowing his Social Security is invested safely in the SS "Trust Fund."
Is your fear default?
Huh? Is that your way of admitting that you're the world's biggest sucker?
See, here is where you prove your lack of intelligence..
"dipping into their expropriated Social Security funds "
The Social Security Administration managed the trust funds for OASI and and DI. These trust funds have held a considerable surplus. Instead of leaving it doing nothing, they collect intrest on it by buying Treasury Bonds. T-bills are the most risk free investments in the world. That is why every bank, hedge fund, and foreign country buys them.
It would be really stupid for SSA to buy stock instead of T-Bills.
Clearly, you simply make shit up.
This is so stupid it's downright comical. I don't even know where to begin....
First, the fact that you believe that Treasury Bonds are "the most risk free investment in the world" is fucking fall down hilarious and proves your a blind partisan hack who doesn't have a clue what is going on in the real world. Despite all of Obama's disgusting bullying, threatening, and bribing, the bond rating of the United States has been lowered because Obama has bankrupted this nation and we can no longer pay our bills (hint: the "most risk free" investments in the world don't get their credit ration lowered, stupid).
Second, the fact that you believe the SSA should invest in "t-bills" is possibly more fall down hysterical than your previous idiot statement. The SSA is the federal government, dumb ass. So you want them to invest in.....themselves?
Think of the pure idiocy of that statement. Can you imagine if Apple bought their own stock that they issued? You can only bring additional cash if someone outside of your "circle" (business, government, etc.) buys the stock. Dummy here is too stupid to realize that if Accounts Receivable receives $10 from a stock which was purchased by their own Accounts Payable, the net result is $0.
When they were downgraded more people started buying them. You can laugh all you want but they are still considered very close to the most secure investment in the world.
It would be more like if Apple pensions invested in their own bonds which were extremely low risk.
From a financial risk and return standpoint the SSA investments are too low risk if anything.
Is your fear default?
Huh? Is that your way of admitting that you're the world's biggest sucker?
So it is such a nonsensical fear you can't even explain it. Got it. Thanks.
The problem is the capital gains tax rates being lower. That and the fact FICA pays for too much. That and the regressive nature of state and local taxes.
The poor tend to do ok but the middle class gets hosed. Anyone relying on labor gets a raw deal too including some of the rich.
The problem is the capital gains tax rates being lower.
Why is that a problem?
The poor tend to do ok but the middle class gets hosed.
Define middle class. Defined hosed.
Problem as in the tax code favors one group over the other. The group that the tax code favors doesn't need any favors and the group getting the worse end has seen decades of wage stagnation. This has grown to be such a problem the economy is struggling to recover. Economic volatility has gotten worse. Income inequality has gotten worse.
What some people don't seem to get is if you screw over the middle class it is only a matter of time before the entire country is screwed over. But hey lets try supply side economics again.
$16.5M minus $495k.
You realized $16.5 million in a taxable account and only paid 3%?
Yes.
