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CBO says Social Security is in trouble

Discussion in 'Economics, Business, and Taxes' started by lupehernandezdepedajack, Mar 19, 2014.

  1. Supposn

    Supposn Council Member

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    Wahbooz, I haven't a clue as to the "monkey wrench” you’re referring to and apparently it is beyond your ability to explain it to us all.


    Respectfully, Supposn
     
  2. Wahbooz

    Wahbooz Governor

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    I've already explained, some time ago. You're just being strategically inept. But just for you, because I'm sure anyone else who has read any of this can easily see, I'll explain it again. You're pushing a national sales tax to fund Social Security. If business people can hide their 'purchases' within their business, they pass that sales tax on to the customer; rendering their need to pay sales taxes on those items they 'smuggle' out of the business. They can make 'business purchases', which are in actuality their own personal purchases, and all that is expensed out.

    I'll say this again. Any working person who falls for this is a fool, because they are going to shoulder the brunt of funding Social Security; and people like me can effectively shirk our responsibility, and still collect Social Security benefits based on my income.

    I'm rather bored with this now. Just another phoney scam being perpetrated on working people.
     
  3. Supposn

    Supposn Council Member

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    Wahbooz, obviously we disagree. I do not consider revenue shifting taxes based upon our payrolls to a general sales tax would be fully transparent. The full and precise sales taxes I pay are fully and obviously reported on the supermarket, dry cleaning cash register receipts and billing invoices I receive almost daily. On the other hand employees only see the amounts and rates they directly pay on their Furthermore proportionally only extremely few purchasers are aware of the amounts and rates of the payroll based taxes they indirectly pay.

    FICA taxes or sales taxes directly levied upon employer are BOTH imbedded within all purchasers’ expenditures.

    If USA’s ratio of payrolls subject to FICA are no more than ½ of transactions that would be subject to a federal sales tax, than any reduction of employers’ FICA rate replaced by an equal rate of federal sales tax would result in MORE than double the tax revenue derived from those employers. That would more than only defray an equal reduction of employees FICA tax rates. To the extent that payrolls are less than ½ of transaction amounts subject to the federal sales tax, Employees net taxes are additionally reduced.

    Taxing employers based upon their payrolls penalizes those that increase their payrolls; that’s not a desirable consequence.


    Why are you opposed to reducing the net taxes paid by families dependent upon incomes derived from employment? Why are you opposed to recognizing the extent of Social Security retirement and long term disability programs’ contribution to our entire national economy? Due to those programs’ economic contributions, why not broaden their funding beyond only employers and employees?


    Respectfully, Supposn
     

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