Obama's campaign idea- SS payroll tax on incomes above $250,000 a year?

Discussion in 'Political Discussion' started by cupofjoe1962, Jan 26, 2010.

  1. cupofjoe1962

    cupofjoe1962 In the Starting Line-Up

    Feb 4, 2008
    Likes Received:
    +259 / 20 / -18

    What ever happened to this campaign idea???

    Retirement Age Stars In Soc. Sec. Debate - CBS News

    Although I am a right leaning independent, I supported this plan.

    Social Security needs the money... Hit everyone who makes more than
    $250,000 the 6.2 percent Social Security payroll tax

    Obama has, however, called for a Social Security payroll tax on incomes above $250,000 a year, compared with the current $102,000 threshold.

    The idea that Bill Gates, Warren Buffet, & Donald Trump only contribute to SS at for their first $102,000 earned does not seem right.

    "Barack Obama is opposed to raising the retirement age. He believes we should strengthen Social Security while protecting the middle-class families that rely on it," said Jason Furman, Obama's campaign economic policy director. "To that end, he would like to work with Congress on a plan to ensure that people making over $250,000 pay a little more to strengthen this vital program for generations to come."
    Last edited: Jan 26, 2010
  2. PatriotsReign

    PatriotsReign Hall of Fame Poster

    Jan 15, 2007
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    +746 / 9 / -27

    #18 Jersey

    I love this idea! Count me in as a supporter of this proposal/idea.
  3. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Sep 13, 2004
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    +1,331 / 18 / -24

    #12 Jersey

    The problem is that social security payments are based on how much you contribute. So unless there were further changes, you'd get more money now but owe those same people more later. If you increase the tax but not the payments then it's just a tax increase on the rich, not actually a social security issue. I understand the argument and agree with it in some ways as long as everyone understands it's just a tax on the rich and redistribution, not social security fairness.

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