Okay I have an idea that will let the upper 1% keep their massive tax cuts

[Peacetrain]

No problemo.

They pay all the Social Security taxes.

Seriously.. if you make 250,000 or more a year, you pay SS taxes.. that cover everyone. Those who make less than 250,000 pay no SS taxes. That would take the tax burden off the other 90% who actually do the buying of products that keeps the economy going.

You want your tax cuts.. you pay into a newly devised Social Security program.

That does not sit well with you.. then the tax cut goes away.. and you are back to what you were paying under Clinton.

I am a very easy person to get along with. :)

[CaliforniaPeggy]

1. I LIKE it!

The super-rich won't, though...

:evilgrin:

[TheKentuckian]

2. I see their retained cut and raise 13%.

[Vinca]

3. There was a guy on Thom Hartmann's show last week who has a great idea.

He suggests SS taxes should be paid on every dime earned and benefits for SS recipients should be doubled. Suddenly seniors and the disabled would have cash to spend and the economy would benefit. It makes sense to me.

[Vincardog]

6. And lower the retirement age to 55.

[Curmudgeoness]

7. I second that. Yippee, I could retire!!!

:bounce:

[customerserviceguy]

4. Ok, show me the math

where there are enough people making over $250K to pay FICA taxes at current rates on 100% of their earned income that it would replace taxes not being paid by those making under $250K.

I keep hearing this "the rich can afford to keep Social Security solvent" theme, but nobody's ever done the arithmetic to show how this would work. In any case, the well-paid would simply find a way to take their incomes from non-earned sources of compensation, like capital gains, etc.

[Vincardog]

5. Fine just change it to you are back to what you were paying under RayGun and you pay on all income.

[Mimosa]

9. That's the solution! n/t

[elleng]

8. Yes, its a small thing for THEM, imo.

[Dr Morbius]

10. I think there's something more important.

I think that 15% dividend tax has done even more damage than Mr Bush's paralyzing tax cuts. It means investors pay lower taxes - considerably lower taxes - if they invest in corporations as opposed to any other kind of venture. It encourages more investment in corporations, to the point that there is literally a corporate stranglehold on our economy.

I'm for restoring that top tax rate to where it was under President Clinton, if not a tiny bit higher (40% as opposed to 39%). But it's far more important to me that that low dividend tax rate - itself a major reason the wealthiest Americans pay lower taxes than the middle class - gets repealed pronto. Investors who put their money into small businesses - all-American businesses - should not pay a higher tax rate than investors on Wall Street. Just look at the result.

[Yavin4]

11. No Deal Is Possible with These People

They believe that they should not have to pay any taxes at all. They see taxes as stealing from them, and they have one of the two major political parties thinking that their only mission in life is to alleviate the rich from paying taxes.