Re: Social Security disability on verge of insolvency

[Guest guest]

As it goes with all socialist programs. Demand and politician's promises will always exceed the economy's ability to pay. They can ramp up all the ruinous taxes they want but it won't solve anything.

I saw a recent article that showed taxing everyone with an income of $1 million plus at 50% and those making $10 million plus 100% on all income over that level would only reduce the yearly deficit by 12% and the debt by 8%. To totally cover Obama's deficits, you'd have to tax all income over $200,000 at 100%. That would net about $1.5 trillion.

Of course, that would only work for one year. Taxes get anywhere near that high and the rich will bail out of this country and businesses will collapse. That means tax receipts into the future will fall to nothing. Then again, government could just nationalize the businesses and put bureaucrats in charge and apply all kind of new regulations and laws. That should work out well. Perhaps they will simply legislate an income for everyone, like say $5,000 per month. Everyone gets the same regardless of their job, or not. That should work out so well, too.

In a message dated 8/22/2011 12:46:43 P.M. Eastern Daylight Time, no_reply writes:

Social Security disability on verge of insolvency

[Guest guest]

A short term solution would be to weed people out of the program that are

abusing the system. But I am sure whatever means are taken to do that would be

cost prohibitive.

Administrator

" As it goes with all socialist programs. Demand and politician's promises will

always exceed the economy's ability to pay. They can ramp up all the ruinous

taxes they want but it won't solve anything. "

[Guest guest]

I get tired of this whole " Let's tax the rich " concept.

Two young kids develop a product in a garage. This product is made up of spare

parts gotten from garbage, and also stuff they bought from Radio Shack and a few

other places. Would anyone tax these kids at the 50% rate or above? Probably

not, and if they were taxed at such a rate, you'd have people protesting in

droves, claiming that the government was trying to suppress the upward mobility

of a couple of working joes in the making.

But when these kids sell their product worldwide and build an international

corporation based upon their invention, and get rich, suddenly these kids are

rich snobs who are preying on society and should be taxed ruthlessly. Further,

they should donate to charity because they have more money than they will ever

use.

I think it's crap. No one was forced to buy their product. No one has to pay the

price they are asking for their product either. If you want to blame anyone,

blame the people who bought their product. Tax the people who bought the product

that made them rich.

It's funny how people can go after Steve Jobs and Bill Gates, but no one goes

after...say...Kraft foods...or ...any other company that makes

tons of money off the masses. There are many multi-billion dollar companiies

that are wealthier than Microsoft, but no one thinks to go after THEM.

Administrator

" I saw a recent article that showed taxing everyone with an income of $1 million

plus at 50% and those making $10 million plus 100% on all income over that level

would only reduce the yearly deficit by 12% and the debt by 8%. To totally cover

Obama's deficits, you'd have to tax all income over $200,000 at 100%. That would

net about $1.5 trillion.

" Of course, that would only work for one year. Taxes get anywhere near that high

and the rich will bail out of this country and businesses will collapse. That

means tax receipts into the future will fall to nothing. Then again, government

could just nationalize the businesses and put bureaucrats in charge and apply

all kind of new regulations and laws. That should work out well. Perhaps they

will simply legislate an income for everyone, like say $5,000 per month.

Everyone gets the same regardless of their job, or not. That should work out so

well, too. "