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freedom fighter jh

(1,784 posts)
10. If people don't make enough now, when they are paying into SS,
Tue Aug 14, 2012, 06:03 PM
Aug 2012

then they might have enough if they didn't have to pay social security, especially if they're self-employed and have to pay 13% or 15% or whatever it is.

Realistically, some people are making enough and others are not. Those who have just enough would be able to put some money away for retirement if they did not have to pay social security tax. I fail to see "magic" in that. In fact, I fail to see anything beyond arithmetic in it.

My fear is that with some of this enormous amount of money that people have dutifully paid from their earnings and are counting on for retirement, the Republicans (perhaps abetted by Democrats) will try to balance the budget or maybe just lower taxes for the wealthy. If this happens, it will be one enormous step in the transfer of wealth and power to the 1%. I think it's what Ryan wants to do. I've heard about his proposed cuts, but I have not heard about what happens to the social security trust fund. I think they want to raid it.

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