Obama Plans a Massive Hike in Social Security Taxes

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This is a great idea. I also am concerned about seniors who only recieve benefits from their spouse when a death occurs. After paying in social security taxes the surviing spouse is unable to collect what they have paid. The expenses are almost the same as far as living expenses go and in this economy it is getting harder and harder to live on a $1000.00 a month.

Bonnie Sayers of CO 8:51PM February 24, 2009

I earn more than $250,000 always have, always will even past my own death. So I have paid the maximum into the system and probably always will. If I elect to take my retirement benefit at age 62, I will not be eligible as I exceed the income allowance. When I get to age 66 I will be entitled to the "full benefit" but my social security taxes on my income under the currect plan will exceed my benefit. Tell me again how I am "not paying my fair share"????
OK Obama, just leave my money alone. I earned it, paid taxes on it all my life and I am entitled to try to keep some of it later in life. It is NOT welfare, it is a contract I entered into where I BUY insurance. I paid, now honor your side of the agreement. The Robin Hood stuff will backfire I promise you!

John of CA 11:48AM February 07, 2009

Daniel David - You are an Idiot. You are acting like it is the same exact people who received a "tax cut" in 2001/2003 as would be subject to the huge tax increases Obama is proposing now. News Alert: Some of us who grew up in struggling working class families who were the first generation to go to college are just NOW, after years of hard work and sacrifice, finally enjoying the fruits of our labor. Now Obama wants to take it all away from us. What happened to the American Dream??? Where is the incentive to work hard? It makes me want to take my children and leave this once-great nation before it is looted and destroyed by idiot socialists like you and Obama and ends up like Argentina.

AnnInFL of FL 2:05PM November 03, 2008

Does Obama plan to proportionately increase the benefits received from social security? They too are currently capped.

of 9:59PM October 28, 2008

Since when did "Stealing from the rich and giving to the poor" (which is too eerily similar to the communist philosophy) become acceptable? If you work hard, you should be rewarded, not punished...and if you DON'T work as hard, you should NOT be REWARDED with free handouts from the government. Just because you see someone is able to live comfortably as a fruit of their efforts doesn't mean you should take away what they have. Nor should they supprt YOU for failing to take the initiative make something better of your life.

of TX 12:04PM October 28, 2008

Boo Hoo. I'm so sad that people making over $250,000 will have to pay more into Social Security under Obama. Look, people, get used to the idea that the US is going the way of Britain and other European economies. The rich had their day in the sun. Now they will be taxed fairly so that the other 95% of americans can afford decent health care and other benefits (like food in their 70's and 80's). If Obama doesn''t raise taxes on the wealthy, we'll continue as we have, with the rich getting richer and poor poorer til we're living in a very dark place. Move somewhere else if you don't like paying to live in this country that made you rich.

Cindy of PA 4:56PM October 16, 2008

YEEEEEEEEEEEEEEEEEEEEEEEEEEEEAH

csjkfl of GA 9:49AM September 10, 2008

Mr. Biggs appears to be using some funny math. He said top rates would go from 37.9 to 50.3, almost tripling Bush's reductions from 39.6 to 35. He is adding in the entire 12.4%. Surely he knows the taxpayers would only pay 1/2 of that, or 6.2% with employers paying the other 6.2%. A new rate of 35% plus 6.2 would equal 41.2%, actually not that much different from the pre-Bush rate of 39.6. Those were the days with surpluses are far as the eye could see.

Terry Richards of IL 11:38PM July 28, 2008

People making over 250k a year are not stupid and will react to excessive taxation.
If these taxes are enacted I as a self employed person will first cut back to work part time as not to exceed the 250K limit and cut back on expenses. Then over the next few years will implement leaving the US to possibly move to some of the East European states which have inplemented flat taxes.
I find it ironic that the idea of the progressive income tax common in the U.S. and West European democracies was first suggested in the 1800s by non other than Karl Marx. Now in the 21 century those who once tried Marx's great advice have implemented flat taxes(ie Russia, Estonia, Georgia, Ukraine, Czeck Republic) and we are marching toward that great and successfull economic ideas of Karl Marx.
As a first generation american who came here with nothing and became one the dreaded member of the "rich" I say if you punish people to making money they will go elsewhere.

Texas guy of TX 6:56PM July 01, 2008

First we a plan to phase away from Social security-
Americans need to become free from this slave costing system. All social security did was provide a comfort blanket and to many people have turned SS into a welfare program. Personally I am sick of paying into it and the reason is because it is being given to people who have barely paid in to it.
The thing this country DOES not need are more Obama purposed welfare programs, and the biggest proof of this Katrina. The people who got stuck in Hurricane Katrina are the ones that lived off the system and depend on the government for their every breath. MAny people were warned to get out but they did not. They had no savings and no plan what to do except what the Government gave them. Some victims are living in those trailers.
Obama's plan will cause more of these same type of people NATION wide to become further dependant on the system
Here is another good example:
My sister was offered a full time Dr assistant job that would pay her 18.00 an hour.
She turned it down because she did not want to loose her free medicare and NY State social service programs-
This is how people on the system think, they do not want to benefit themselves what so ever. They just care about getting the Government check.
Another lady I knew claimed disability because she would get bad head aches. So the government gave her disability and she quite work. Yet she sure seems to be able to run all over the place shopping, meeting with friends, going out to eat and running a singing group for the church-
There are people who really do need help in this country buy they are very few the rest are frauds.
The only way to solve this is flat tax or Fairtax act.
why? Because the government will get more tax back then they do now. Americans love to spend and most cannot control themselves. They can loose their house and yet still find money to shop.
Tell me what right does someone have that lives on Welfare and they go and buy an Apple IPHONE? Trust me I know someone who did-
Now far as so called rich people who cap over 250,000, I can tell you they will find every loop hole they can to make sure that they will not qualify for Obama's tax hikes. I being one of them. All we will do is shift the money around legally avoid the tax trap and the money will be back in our pockets.
TAxing Corporations ??? Well thats an easy one to
just cut more jobs and employees out, and outsource simple and easy-
there you just offset Social security, and Medicare TAxes
Since corporate money flows back to the share holders we will just shift that around before that happens to-
So under Obama the so called rich have found more holes and the Government is left with more unemployed people that have to take Obama up on his newly created welfare programs. So since the rich soundly look middle class on paper,
who is going to pick up the bill to support Obama's grand socialist plan?