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In reply to the discussion: Medicare, Social Security Face Shaky Fiscal Futures, Report Shows [View all]paleotn
(17,911 posts)Well, I can un-strain it.....
1978 - top tax bracket >= $792,236.91 is 70% Lets go back to something similar to the old tax rates.
and / or
Top capital gains tax rate for 2019 = 20% on gains of $488,851 or more. Tax capital gains at the same rates as income.
and / or
The US spends more in defense spending than the other top 7 combined. Spend more than just the next top 5 would save hundreds of billions of dollars each year and still adequately defend the country.
and / or
Social Security Tax Ceiling in 2019 = $132,900. Raise it to $250,000 or eliminate it entirely.
Better yet....
Medicare Part E for everyone. Slowly starve private insurance to death like a parasite. Combine Medicare and SS under the same umbrella, with a dedicated funding mechanism similar to FICA and Medicare taxes, with rates increasing on individuals and businesses as private insurance dies. In the end, we will all pay less than we currently do for Medicare taxes and health insurance premiums combined due to single payer being a far more efficient means of funding health care. We pay over twice as much ($10,209) per capita than Canada ($4,826) for health care with worse outcomes, due primarily to our for profit insurance system. Cutting that gap by 50% ($7.3K per year vs. $4.8K for Canada) would save Americans hundreds of billions per year.