I have made over 400k several times, but not every year. I’d be very comfortable with that extra tax. They should definitely do it.
Beetschnapps@lemmy.world 8 months ago
Larson’s proposal would extend the standard 12.4% payroll tax, which is levied this year on all wage income up to $168,600, to income over $400,000, leaving an income gap that would be narrowed over time. Larson would also levy the payroll tax on investment income over $400,000; that income is currently not taxed at all.
If you make less than 400,000 a year you would never see a new dime of taxes and social security would be solvent for your lifetime even with an increase in benefits.
I wonder if anyone screeching about “my taxes” concerning this approach even makes over 400k YEARLY.
It sounds like the raising “my taxes” bit is a lie, often repeated by people who are not so rich as to be affected. At best the argument is “I am selfish so fuck you”
At worst it’s a deceitful argument that ignores how easy it is to continue a program that is the main thing keeping the elderly out of poverty.
The same group of old people you will likely fall into if you’re making less than 400k a year these days…
skookumasfrig@sopuli.xyz 8 months ago
wintermute_oregon@lemm.ee 8 months ago
It would be people making over 168. The current cap is at 168k
So yes, it would raise my taxes with a wealth distribution.
PeepinGoodArgs@reddthat.com 8 months ago
We should abandon elderly people to destitution, grow homeless encampment, for what? So you can retire on a fatter cushion?
jimbolauski@lemm.ee 8 months ago
So we should scam more people because the elderly got scammed?
PeepinGoodArgs@reddthat.com 8 months ago
Lol, if anyone’s getting scammed it’s me! People often collect more social security than they put in. I’ve only been paying into since I began working, and have another 30 or so years before I can start collecting.
So, yes, we should continue paying out social security because our entire society is a scam. It’s the least we can do.
wintermute_oregon@lemm.ee 8 months ago
That is the issue. The system doesn’t work. It is just a wealth transfer which I am against.
I would support taking the 12% and putting it into a private retirement account.
It is unfair to ask the top 5% or 50% to pay for the bottom 50%. I already pay more than my fair share of taxes. People won’t take taxation seriously until they feel the pain. Spreading the pain across everyone may cause people to stop demanding more spending.
We have a spending problem in this country and it can’t be solved by taxation.
wintermute_oregon@lemm.ee 8 months ago
The Inuits use to push the elderly out on an ice flow.
PeepinGoodArgs@reddthat.com 8 months ago
Sure. So what? Is that your social prescription for the elderly: help them along to the final stage of life?
Beetschnapps@lemmy.world 8 months ago
So you make above the cap? So you pay nothing?
Would you reject SS payments when your of age? You didn’t put in right?
So you’re saying that having never paid into a system, and despite that you have access to benefits whether you pay or not, you consider it too much to bear to start paying anything?
Again at best the argument is you’re selfish.
wintermute_oregon@lemm.ee 8 months ago
I put into SS. The amount I receive is capped but I pay more into the system then I’ll receive in a benefit.
It’s selfish to say to keep my own money? That’s the opposite of selfish. It’s selfish to expect me to fund your retirement.
Beetschnapps@lemmy.world 8 months ago
SS doesn’t fund people’s retirement it’s not an extravagant pension, it keeps the elderly out of poverty.
You pay for roads you don’t drive on, I pay for schools for kids I don’t have, get over it. Selfishness isn’t a virtue.
You are not rejecting the system making you a benefactor, by your own logic that ship has sailed. Congrats you’ve already contributed, and you’re not a slave and atlas has not shrugged.
Right now you’re just making up reasons to be selfish… like you personally funding the nation’s retirements. Get over it.
some_guy@lemmy.sdf.org 8 months ago
Had a meeting with a financial advisor to discuss investments to secure longterm security today. One of the things he mentioned, which I had not considered, was investing in companies serving the aging health sector. But that’s beside the point, just thought it worth mentioning as it tangentially fit what you said.
Raise taxes. Taxes pay for things. You know how you’re mad that live is getting shittier in the USA? Giving tax windfalls to the ultra rich and corporations is one of the reasons for that. Reagan poisoned the well on government or taxes ever creating a benefit and we’ve been stuck on this party line ever since.
RAISE FUCKING TAXES.