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Author: Hochizen Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1976762  
Subject: Re: WI Unions Report Drastic Decline Date: 4/9/2013 4:18 PM
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"Stop embarrassing yourself and read your history.

http://www.socialsecurity.gov/history/notchfile3.html

"a reallocation of part of the scheduled increase in the HI tax rate for years after 1977 to OASDI and an adjustment of the tax rates so that the ultimate OASDHI tax rate for 1990 and after would be 7.45 % each for employers and employees. " "

Hi Nemesis!

How are you? I myself am doing great, if you are asking!

Anyway, I was somewhat befuddled by your post. I read it and failed to see where the taxation of social security benefits was mentioned anywhere in your link. Now, if this was an attempt to get folks to read a long report of supposed legislative intent, as some kind of a joke...well played, sir, well played indeed.

However, if this was supposed to be a genuine refutation of the assertion that Reagan made social security benefits taxable....that it is not. As linked above, Reagan was the FIRST President to make social security benefits taxable! http://www.ssa.gov/history/InternetMyths2.html The link you provided was about legislative intent of tax provisions paid by workers, NOT beneficiaries!

By the way, Ronnie Red-Ink Reagan also made unemployment benefits taxable income! Oh, and he got rid of the deduction for consumer debt interest (student loans, car payments, credit cards). BUT....the top tax rate dropped from over 70% to 28%! Hmmmm....lets see....

Yes, yes....consumers who had debt lost their deductions which is exactly the SAME as an increase in taxes! Folks who lost their jobs paid MORE in taxes, and folks on social security paid MORE in taxes....but the wealthy paid far far less (after all, the wealthy don't need to make payments on anything, they have the cash....and most of the wealthy don't have jobs to lose nor do they care about the taxes on their social security checks compared to their millions).

What was the net result? The middle class and poor began their decline, while the wealthy began their consolidation of wealth and power. THAT is what Ronnie and the wealthy Republicans wanted, and that is what they got! The middle class and poor Republicans were kept in the fold with social issues (after all if you are worried about a black guy dating your daughter you might be willing to ignore the fact your taxes went up or even if your job got eliminated) and the idiotic supply side nonsense (hey, give the rich more money and maybe they will give some to YOU!).

So anyway, my dear Nemesis, I am happy to correct you! Then again, it is my role to bring light to those in darkness, for I am a liberal!

Have a GREAT day!

Bush was the worst President in the history of the US.
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