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Author: JABoa Big gold star, 5000 posts Feste Award Nominee! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75833  
Subject: Re: Means Testing Soc Sec Date: 12/15/1998 5:34 PM
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"A regressive or progressive tax system is bad policy." As it happens, I lose about 35% of my income to tax (Federal, State and Social Security). Also as it happens, I can afford it. Would you advocate that a family of 4 in Omaha earning $31,000 a year should also pay 35% of their gross in tax?

Here's another question on the Treat all Americans Equal theme. Is it fair that starting in 1999, those who make their money from capital gains only will be paying no Social Security tax, and Federal tax at 20%?
Live in Texas like Ross Perot and pay 20%, be JABoa and pay 35%.

Personally, I would say that if there can be an open debate where it is admitted that all Government revenues just go into a bucket from which expenditures are ladled out, then a reasonable case could be made for taxing all income (and not just earned income from wages) at some base rate like 7.65% and we go up from there. However, so long as we continue the sham that benefits are tied to wages, then a maximum benefit implies a maximum wage on which Social Security taxes are paid.

I guess these paragraphs have little to do with one another. The connecting part is that the rich are getting away with it while I pay more.
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