by William Thornton » Thu Mar 21, 2013 2:08 pm
Timothy, are you for everyone paying their "fair share"?
SSI? You mean FICA or do you Methodists may SECA like we Baptists?
Regardless, I presume you refer to the cap on income that can be taxed, currently $113,700 I believe. You have not proved to be very savvy on economics or tax laws but you would acknowledge that Social Security originated with the insurance concept (Federal INSURANCE Contributions Act - FICA - it is on most folks pay stub) meaning that taxes are set to fund future benefits; hence, the cap and the requirement that everyone pay it. Of course, the WWII generation learned that their political clout was sufficient to wrench benefits from the taxes, guarranteeing that their children and certainly grandchildren will have to suffer because of it so the insurance/trust fund concept is long past. Liberals everywhere drool over lifting or eliminating the cap and exacting more from the filthy rich.
All of which is a reminder that those with political power, rich and poor, will eventually use it. Obama and his followers know this. If we ever got to a place where libs thought they had the power to confiscate a chunk of bank accounts, they would certainly do it for reasons you continually parrot as "fair share" or helping the "poor" etc.
You really should get educated on this. Here's a quiz to get started: how much of the total income tax is paid by the top 1% of earners? 5%? 25% Bottom 50%?
My stray thoughts on SBC stuff may be found at my blog,