Obama's Useless Social Security Tax Hike

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if you seriously want to fix social security thre's only one answer: raise the minimum wage rate to a living wage standard. that by itself will provide the additional boost to the payroll taxes and the economy will start to move.but unfortunately all the bussiness owners in this country want to keep the money to themselves.they refuse to pay more than they have to by law. that's not creating prosperity for all but for only few.

tony of NJ 2:32AM November 25, 2008

The Social Security is going to be retooled into an Old-Folks Poverty Prevention Program", including asset and income tests just like Medcaid. The children and grand-children of the Baby Boom will make this happen.

Haigh of MA 12:45PM November 03, 2008

It is not final. Baseball and Football stadiums are out. I disagree with that type of funding. Really doesn't have anything to do with social security. And, if you are in America, you should be able to bank where you please. If you bank in the wrong place, or in only one place, you sir, are a ........
I am not a financial genius. I am not wealthy. I am not elite. I do however, like the fact that I live in the USA. I do like the fact that I can decide where I want to live, invest, make my own mistakes, recover, move on, enjoy what I work hard for, and HAVE FREEDOM. Good luck to you if you do not understand. Government is not your provider. THAT IS FINAL.

Bob, originally from IL of TX 8:22PM November 02, 2008

No, but if they made federal emplyees pay into it and all people no matter how much money they make, policemen firemen, everyone...Rich and poor....
Also Fine people who bank overseas, that live here. If you are in American you should bank in America if you make your money here....Also, use some of the money the fine other companies for sending jobs overseas...add that to social security.
Look if they can bail out the crooks in Wall Street that took
and set aside bonuses for their top employees before they filed bankrupsy, then they can help the seniors.. Also, if it where a new baseball field or football field or some major progect for MEDIA, like a new office bldg, when they already have one.
They would find the money then, would'nt they....
You will find it out come November 4th, seniors are fed up and
will not vote Republican because they do not want social security privitized. THATS FINAL.

of IL 6:37PM November 02, 2008

The only way Social Security and Medicare will be able to cover their liabilities is to have the Fed print more dollars...literally. Okay, not literally. It's electronic.
This country (including the government) has no savings, so the only way to generate the money to pay for those things is to either borrow it or have the Fed increase the money supply. Other countries aren't going to lend it to us any more, so we're going to have to print it.
The problem isn't that people won't get their money back from Social Security; it's that the currency won't be worth anything when they do.

Caleb Rackliffe of CA 5:35PM November 02, 2008

Crooked politicians have been dipping their greedy little hands into it from day one. The whole program is unconstitutional and should never have been established. It was created for the very purpose for which it has been used - more citizen money for the federal government to squander without accountability. Let Americans control their own money and invest in their own retirement. Government will never be as vested in your financial well-being as you are. That's not what our founders designed government to be. I'm curious about the choice of $250,000. Maybe because members of Congress make about 170k? Of course that doesn't include all their little goodies stashed in non-taxable shelters. I hope and pray that Americans who understand our Constitution and the system that has made us strong and prosperous (in less than 300 years mind you) can see through Obama's tent revival rhetoric and vote to constrict our grossly mutated central government rather than expand it.

byablue of GA 4:07PM November 02, 2008

$50 Million is nothing to sneeze at.
If some of the tax loopholes can be closed, the taxable earnings will be a lot higher for the fat cats whose wealth needs to be redistributed to us retirees.

DEN (ret) of MA 12:07PM November 02, 2008

The problem with SS is not the lack of money. It is the fact that the government treats SS surplus money as if it were just another tax income.
The money comes into the General Account, and is spent just as is all other income the govt receives.
SS does NOT have a problem. The govts that are borrowing SS Surplus money is the one who has the problem. The govt is borrowing SS Surplus money, handing out IOU's, and spending your SS money.
The govt has been doing this from the inception of SS. SS is the most succesful govt program ever established, it is so succesful, that the govt regularly borrows the SS Surplus.
How is it anyone would think, that a system that has 11 Trillion dollars worth of US Govt IOU's is bankrupt is beyond me.
The Govt borrowed that money, and is soon to be forced into repaying the money it borrowed from the system. I'm sorry, but I don't feel even a tad bit sorry for the US Govt, and it's problems with having to pay back what it borrows.

Herbert E Frederick of CA 11:09AM November 02, 2008

you neglected to mention how much Sen. McCain would save .. because he would give more money to the richest people - instead of making them pay. Source ; taxcenter.org
which is better a plus or owing more???
wow and you get to write for a magazine...
hurray... your parents must be so proud that you spread propaganda... i mean, are a journalist :D
what do i know, I only have a master's in library and information science :P

de librarian of FL 10:55AM November 02, 2008

Then where do we start if not with those who can afford it most?
Because yeah, 50 mil is a lot of money - may not be enough on its own, but you know, it sure is one heck of a start.
:)

de librarian of FL 10:51AM November 02, 2008