Thom Hartmann: The REAL Social Security Crisis

[polichick]

There are a couple hundred thousand people in this country who make millions and billions, and yet pay social security tax only on the first $100,000

If they paid social security tax on every dollar they made - the way the rest of us do - Thom says you could double S.S. payments and there still would never be a problem.

He says we need to call for "LIFTING THE CAP" and asks: How much do you wanna bet it won't be suggested by the debt commission?

(Listening to his show right now.)

[baldguy]

1. That's the whole problem in a nutshell: Half of the income earned in America

Is earned by people who don't pay taxes on it: Social Security, income, local, state & federal. And it's not the half on the bottom and never has been.

[polichick]

2. And when corporations end up paying nothing after their subsidies...

EVERYTHING falls on the middle class.

[baldguy]

3. And the rich get the middle class to blame the poor.

[polichick]

4. Crazy shit - but the kind of thing people could get a petition going about...

I'll drop Thom an email - or maybe bold progressives would be better for a petition.

[mmonk]

5. Yes, that would be all that is necessary.

[polichick]

8. Wonder how many Dems would go for it? Thom says most pundits...

...won't even talk about it because they make so much money themselves.

[MindandSoul]

6. YES! Absolutely! I have suggested before that there may be a "gap" in paying social security

taxes (let's say, you pay on the first $100,000, then don't pay anymore until you reach $250,000. . . at which point you keep on paying for the REST of your earnings. . .that mean, those making $20 million in bonus or salary would still be paying social security taxes. . .instead of paying 2 weeks a year of social security taxes. . .they would pay 50 weeks or so!!! That would make a huge difference!
And yet, with a "donut hole gap" the middle class wouldn't feel a difference!

[polichick]

7. Your plan sounds very fair! nt

[MindandSoul]

10. Thanks! Now. . .how do we get that idea to the White House! LOL!

[rocktivity]

9. Eliminating the cap completely means that EVERYONE could pay a LOWER rate

then the current 6.2%. Privatizing it is a waste of time and the portion of the money that would go for administrative costs and broker commissions.

It's such a no-brainer I don't know why Obama even bothered with this commission.

:headbang:
rocktivity

[MindandSoul]

11. That's another easy and fair plan!!!