The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: The Great Debate||Date: 10/25/1998 11:20 PM|
|Author: zgriner||Number: 6283 of 80199|
You know, the average monthly check for individuals is just over $750. Almost two-thirds of beneficiaries receive one-half or more of their income from Social Security. Not much cause for a revolution there! We do not need to tax wealth, but I think it is socially irresponsible not to tax ALL wage produced income at this point in our history.
What is the rational behind taxing wealth at all? Can you eat money or possessions? NO! Tax consumption. Get rid of the loopholes. Then, the more you buy or use, the more you pay.
It is truly irresponsible, if not downright criminal, that politicians of both parties have lied about Social Security, making people believe there is some kind of cash balance by which retirees are paid.
It's even more criminal that people are not taught, when they sign up a Social Security card or start a job, that Social Security is not meant to provide a retirement income on its own. But, instead, that Social Security is meant to supplement one's pension and savings. Instead, people have been taught for the last 30-odd years, to piss away their money and support the consumer economy, instead of save for their retirement.
|Copyright 1996-2016 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|