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"Had American workers been given the raises they earned, their contributions to SS would've increased faster than their retirement benefits, and the system would be just fine. Instead, the "lost" $33,000/year from each worker - $4 TRILLION each year - has been redistributed to the Uberich managers and stockholders. Since the Uberrich 1% along with the rest of the top 10% who receive 95% of all dividend income have profited greatly for the last 30 years, lets let them give back what they took for the next 30 years by repealing the Reagan tax cuts and eliminating the special category for capital gains, taxing all income as "income", and eliminating the "cap" on SS contributions entirely." Posted by Olderscout66
Besides standard income tax rates, I see no reason for there being the artificial distinction of earned versus unearned income when it comes to FICA taxes. I'd like to see the lower-incomed groups get a break on this very hefty tax and including all income might do that.
Look at how the FICA rates have escalated over the years while the upper-incomed groups were able to shield more and more of their income with tax laws written by and for them because they're so special.