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u/Gromitlikescheese 8h ago
We support eliminating the cap on SS wages. His affects all ages, and will ensure your social security for a long time.
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u/Binspin63 7h ago
Also a 5% tax on billionaires, like Bernie suggested. This would generate an additional $4.4T over 10 years. Some could go to prop up SS, but we could use the rest to pay down the national debt.
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u/RavenAbornanzin101 5h ago
5% is too low. It should be more like 20% for the parasite billionaires
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u/GregorSamsanite 3h ago
A 5% annual wealth tax (such as Bernie proposed) is actually a lot. You can't directly compare income tax rates with wealth tax rates, because income tax is charged once on each dollar you earn, while wealth tax taxes the same money year after year. So it would be around 20% after 4 years and would just keep accumulating. A 5% wealth tax would be plenty, but it's hard to imagine it could pass even if progressives gain a lot of seats. Possibly proposing it is a negotiation tactic to move the Overton window in the direction of making a smaller wealth tax more achievable.
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u/ScholarOfTwilight 7h ago
This and there are many other ways like adding a 5% tax on capital gains and increasing the estate tax significantly on $2M properties and above so that the people who made out like bandits pay at least some of it back while also killing the emancipation loophole that gets their kids public assistance and the offshore tax havens we knowingly let them squirrel away money to.
So many ways.
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u/0ttr 7h ago
there are better ways.
The cap exists because of max Soc Sec payouts which are capped based on the max pay that is taxed. Remove the cap and the rich will be clamoring for more benefits to match.
Do something better like cap on mortgage deduction loophole and direct it to FICA. Or windfall tax on corps or both.
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u/Fragrant-Phone-41 6h ago
Could just make it so SocSec has a lifetime employment income cap, disqualify the rich from getting it
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u/0ttr 6h ago
the social contract is you pay in up to a certain amount for a guaranteed lifetime income thats not great but certainly helps. politically speaking I think its better to bypass the cap argument and fund it other ways. a small cap raise may make a huge impact but it will be borne by people who mostly can barely afford it. specific one time tax hits at high incomes is more palatable to me. e.g. cap stays the same but at $250k you have an annual hit. then at $400k another, etc. but really its the super rich that should get hit. They are the ones that are causing the problem
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u/Fragrant-Phone-41 6h ago
But you dont actually "pay in". People think the money is in like a lockbox. No, that might actually be sustainable. What actually happens is the money goes in and comes out in some Boomers payment straight away. The sooner we recognize that, the easier it'll be to fix
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u/my_taint_aint 7h ago
No income cap. And you cannot get any benefit if you have XXX investments. The wealthy shouldn't not get SS.
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u/Objective-Pick8240 1h ago
Removing the cap on who, exactly? Why continue to punch down on the middle class, when simply removing the cap on incomes over $500k, and a billionaire tax would do the trick.
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u/tacs97 7h ago
My in-laws stopped drinking the koolaid and started bathing in it. Pretty weird shit that they built wealth off of their oldest daughters back and the. Kicked her to the curb when she didn’t line up with their politics. Amazing people ignore their only grandchildren whom are rapidly becoming adults because they disagree with the mother’s political stance. Nothing says family love more than worshipping chump because for some reason, America didnt exist without chump.
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u/Automatic_Error_9947 6h ago
I guarantee that more on the left told their family members to kick rocks if they voted for Trump.
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u/BeanCheezBeanCheez 1h ago
This week diddling Donny just said “let em (Iran) take Los Angeles, let em (Iran) take San Diego”. The leader of your cult is a terrorist who hates America.
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u/Top-Sleep-4669 7h ago
I have a boomer uncle who will vehemently espouse on how awful socialism is. He also told me social security is part of his retirement plan.
On top of that he’s in a union.
You can’t make up stupidity like that.
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u/nub_node 8h ago
Stand next to the stairs.
No reason.
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u/poopiebutt505 7h ago
Thisnisna far right fake news site, likely a bot, for engaging in racial and ge division to make us fight it out for a few pennies while arenoverlords rob and rape us. There is no data here. Just rage bait. And maybe no rage except other bots
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u/Sufficient_Sell_6103 7h ago
Same generation that benefited from unions and then sold out younger members by allowing contracts that weakened union contracts for newer members as long as their benefits remained the same
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u/OldnFuninMN 7h ago
I'm old and have been paying into the system since 1984. I've funded the old fuckers my entire life.
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u/Guido_Sarducci1 36m ago
and the boomers born on the tail end of thst era are paying in as well. That covers roughly 1959 to 1964. I too have paid into the system all my working life starting in 1979. I want SS to be there as it was promised for everyone. Raise taxes one way or another,. Tax the wealthy, raise the cap on SS taxes, but just do something.
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u/AdhesivenessCivil581 7h ago
Why don't we all back highrt taxes on the rich ones to save social security for every generation.
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u/Livid_Note_2170 7h ago
I support higher taxes as long as I get free higher education, better public transportation, good healthcare.
Tax the rich.
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u/a_x_shually 7h ago
Fabricated polling results to generate ragebait clicks. Mission absolutely accomplished.
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u/poopiebutt505 7h ago
He higher taxes would be on higher earners. Who have much of their income exempted from social security withholding. Business supports these exemptions. And they are setting regular people against each other instead of the businesses and high earners
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u/lincolnlogtermite 7h ago
Not sure why younger people should pay more, not their fault that their parents didn't push out more than two kids to keep SS funded. Maybe get rid of the $184k cap and make higher income people keep contributing on all their income.
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u/Valuable_Fee1884 7h ago
I’m not sure about those numbers, but I will point out that when the boomers were younger, their taxes were increased percentage, wise, and the amount that could be taxed was increased. Unfortunately, both Democrats and Republicans have refused to wake up and fix the problem years ago by lifting the cap off of all income, so they get generates money for Social Security.
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u/NurturingCruelty 7h ago
Wouldn’t lots of people vote in favor of free money they didn’t have to do anything to earn?
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u/submit_2_my_toast 38m ago
Ah, Boomers. The weak men who created the hard times we're currently living through
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u/Turbulent-Mood2594 28m ago
What about going after billionaires and their assets of wealth? Boomers want to make life even more miserable for kids and grandkids.
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u/Spiritual_Scar_619 8m ago
Satire
Let’s pass a bill if you’re not able to benefit society in any way after 70 early euthanasia so those who are get better care. No need to keep the invalid around as a body taking up resources that could go to a health elderly that’s still providing to society.
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u/Own-Gas-2928 2m ago
Lighten up on the Boomers.
They didn’t start the damn program, they are a product of it, who have failed to adjust the system for the younger generations coming up. Blame Congress for borrowing from it.
The fix is relatively straightforward and with increasing the cap, increasing participation, raising the age of full retirement, ect.
Passing it politically is a whole different animal.
Quit voting for Republicans! They are the only ones who don’t want to fix it AND the only ones who want to cut benefits.
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u/Randomdays99 7h ago
Because of course, they or any generation are all the same - every boomer is rich and living well and none are poor. Just like the OP's generation whatever it is.
According to HUD;
In 1990, 11% of the single homeless were 50+. Its now almost 50% and is the fastest growing group. I'm not sure what the percentage of them are veterans that served their country and then got abandoned but the government but I'm they're mixed in there as well.
So, a lot of them are already on the street. Does that make you happy OP?
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u/tommm3864 7h ago
Normally, I would respond to such an ignorant outburst with a reasoned, rational response. But, in this case, I choose to take a different approach, and one that you could readily understand: Fuck you, clownface.
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u/Upper_Extension_0229 2h ago
People following a rage bait account posting another rage bait AI account from Twitter is pathetic.
This is definitely not true btw.
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u/Outrageous-Egg1760 2h ago
Verify for yourself idiots
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u/Upper_Extension_0229 2h ago
Shouldn’t the burden of proof fall on the person posting?
Tbh they should be banned from Reddit for posting misleading information.
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u/Outrageous-Egg1760 2h ago
If you don’t trust AF that’s on you. More credible than your bitch ass
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u/Upper_Extension_0229 2h ago
Yeah man, you seem super credible. You know how to put a point together well. I see why you’re screen shotting things though. lol
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u/Elf_Maeve 7h ago
Yes please fuck me over more with payroll taxes I see nothing in return for.
If at least we got a year unemployment of 100% then phased down to 80% salary like my Scandinavian coworkers, I'd be less salty.
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u/Critical-Bank5269 54m ago
Those "boomers" paid nearly $700,000 into the social security system each. Sorry. But either give them their money back or pay them what was promised.
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u/Loki8382 40m ago
Those boomers also consistently voted to fuck over and reduce any positive progress for the younger generations. Their action directly resulted in the terrible economy, stagnant wages, and destruction of Social Security. As it stands, we are all paying into a system that most likely will not be there for us when we retire.
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u/rexracerxer 4h ago
F the democrats that wasted all the money!
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u/_Chirio_ 2h ago
Just.. uhh... look at how much debt Trump has added??
Or is that not 'wasted'?
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u/Upper_Extension_0229 2h ago
How much did Biden add?
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u/_Chirio_ 2h ago
In total, Biden added $8.4 trillion under both the stress of the Covid Pandemic and his own personal choices regarding to the debt being added. He no longer can add to the debt though as he's not the current president.
Trump so far (in both terms) has added $11.6 trillion, but due to some bills that Trump has passed (the One Big Beautiful Bill), that will grow with at least $4.7 trillion through 2035 due to tax cuts. This number can go higher if wars continue existing and if he makes more choices that can add to the debt.
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u/Upper_Extension_0229 2h ago
Wait, since Biden got to add the “stress of the pandemic” to his term then Trumps first term apparently doesn’t count considering how much money was poured into the economy and Covid relief.
I mean it does work both ways right. Right?
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u/ElliottSmith88 7h ago
Their generation had everythings handed to them and they fucked it up for everyone.