Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (56) | Ignore Thread Prev Thread | Prev | Next | Next Thread
Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19222  
Subject: Re: Obama on payroll tax Date: 6/16/2008 10:06 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
One of the bigger problems of democracy is that the majority can trample over the rights of a minority.

An even bigger problem is a mutual definition of "rights." I was appalled that the Wall Street Journal, long a bastion of conservative opinion, blathered about the "right to safety" in an editorial. Let's face it. If I want it it's a right. If you want it it's a privilege, which may or may not be justified.

In all these discussions there are facts and opinions.

Fact: Social Security was designed and funded to provide minimal assistance to bereft old people.

Opinion: The above fact should be called welfare for poor old people, but the politicians felt they couldn't sell it that way. Thus was born the fiction that each of us has a cubby hole in Baltimore where "my" money is stored until I get "my" benefits.

Fact: SS always has been a program which pays benefits in a lesser amount than the related tax collected. So far.

Fact: Over time SS benefits have morphed from a subsistence payment to a major part of retirement planning.

Opinion: The current tax and benefit scheme isn't sustainable. Something has to be done. (There actually is disagreement about this.)

Opinion: Boosting the FICA tax on high earners doesn't bother me. No doubt this is in large part because I'm not a high earner, but I also have no problem with a progressive tax system. I say this as someone who's firmly planted in the penultimate lowest income tax bracket yet makes charitable contributions realizing that there are those far worse off than I.

Phil
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (56) | Ignore Thread Prev Thread | Prev | Next | Next Thread

Announcements

Post of the Day:
Value Hounds

Not Cheering the Shire Deal
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement