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WillFranklin

We Can't Afford To Be Everywhere Forever

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How do you know Social Security wasn't intended to be retirement pay?

It was a supplement to saved income while working for retirement. When people didn't save anything on their own, it became their only income. Now, lets talk about personal responsibility about understanding real and reciting reality's hypothetical values?

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Social Security should be more.

 

 

It already has unfunded liabilities in excess of $23 TRILLION dollars.

 

What more do you want, Will?

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It already has unfunded liabilities in excess of $23 TRILLION dollars.

 

What more do you want, Will?

 

Higher taxes on the wealthy and big corporations could shore up Social Security and allow for larger Cost Of Living Adjustments.

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Higher taxes on the wealthy and big corporations could shore up Social Security and allow for larger Cost Of Living Adjustments.

lol. Yeah, raising taxes on the wealthy and big corporations should generate about 23 Trillion.

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Higher taxes on the wealthy and big corporations could shore up Social Security and allow for larger Cost Of Living Adjustments.

 

Oh. So you want to eat the rich.

 

Let's see how that would work out ...

 

 

Of course, we both know you are going to ignore this, too.

 

Because it's not ignorance that drives you, Will.

 

It's dishonesty. :D

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Oh. So you want to eat the rich.

 

Let's see how that would work out ...

 

 

Of course, we both know you are going to ignore this, too.

 

Because it's not ignorance that drives you, Will.

 

It's dishonesty. :D

 

Right wing video propaganda.

 

I didn't say eat the rich, just raise taxes on them. And raise Social Security taxes on them. And don't forget I also said big corporations.

 

Raising taxes on the wealthy does not cause the problems that right wing think tanks say they cause. Bill Clinton proved them wrong.

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Right wing talking points. Like I said, Clinton proved them wrong. He raised taxes on the wealthy, and the Republicans didn't get a chance to cut them back before the economy boomed. When Republicans came into power under Bush and cut taxes on the wealthy, the economy tanked.

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That video is assuming that we use all of their money to pay for the entire operations of the country. I am just talking about marginal costs and debt reduction. And this thread is about cutting spending overseas, which would also help in the marginal costs and with debt reduction.

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The wealthy and large corporations could afford to pay more into Social Security and general taxes.

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Because individuals make up the corporations, and Social Security needs the money.

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Because individuals make up the corporations, and Social Security needs the money.

You mean corporations are people too?

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That is how they are treated when they want to make donations to political campaigns.

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You mean corporations are people too?

 

I wonder if Will is willing to let corporations retire at age 65 and get paid by the government just like people using the same formula as people? ;)

 

Then we can add corporations to the whole SS ponzi scheme and have future business pay for the retirement of current businesses. :D

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The members would be receiving their own Social Security when they become eligible. But I don't see anything wrong with a Social Security tax on big businesses.

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The members would be receiving their own Social Security when they become eligible. But I don't see anything wrong with a Social Security tax on big businesses.

 

So would you envision a tax much like it's employee's pay ... say 7.5% matched by ... oh wait ... I guess we'll have to treat the corporate entity as a self employed person and tax them at 15% of gross receipts up to some max. How big should that maximum amount of earnings be Will? Hmmmmmm?

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No 15% may be too high. But the maximum amount of earnings taxed should be something large like 12 Billion dollars.

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No I think 14% would be too high. We are just trying to shore up Social Security. It wouldn't take that much.

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No, much less, like only 8%. And we could lower it if Social Security does well and is solvent.

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No 15% may be too high. But the maximum amount of earnings taxed should be something large like 12 Billion dollars.

No, much less, like only 8%. And we could lower it if Social Security does well and is solvent.

Ok.

 

So 8% of the first 12 billion in earnings.

 

Do you know what percent of US corporations earn less than 12 billion, Will? This (http://en.m.wikipedia.org/wiki/List_of_companies_by_profit_and_loss ) shows all the firms that have had (at any time) earning over $20 billion in a year. There are just eleven US corporations on the list, and they only did it in certain years. The reality is that you'd essentially be taking 8% of the earnings of almost every corporation in the US. Every year. Do you have even the remotest inkling what effect that would have? Do you honestly believe there'd be no negative effect on growth, employment and competitiveness? Hmmmmmmmmm?

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