Sen. Bernie Sanders Has A Great Idea!

[Howey]

Sen. Sanders has always been a favorite of mine, in the same manner that Nutty favors the Rand Paul eccentricities. This, however, is a brilliant idea that needs to be passed by Congress and signed into law by the president yesterday!

http://www.youtube.com/watch?v=Vh2Lw0iz3MA&feature=player_embedded

I've never been able to figure out why there's no means testing for Social Security, Medicare, or other programs designed to help the poor. Does a rich person actually pull out his Medicare card to help pay for medical care? Does he or she really need that extra $1300 or so per month? No.

More on the story here:

Last week, Sen. Bernie Sanders (I-VT) was a featured speaker at the United Steel Workers 2011 conference in Las Vegas.

Sanders focused much of his speech on the Social Security system, blasting suggestions by Democrats and Republicans alike that, for example, we should adjust the cost of living adjustment to cut Social Security payments to working class Americans or raise the retirement age. “When [Social Security] was developed, 50 percent of seniors lived in poverty. Today, poverty among seniors is too high, but that number is ten percent. Social Security has done exactly what it was designed to do!” he thundered, defending the program.

Today, Sanders announced that he will introduce legislation that would strengthen Social Security without cutting benefits to any of its beneficiaries. Sanders’ legislation would eliminate the income cap that currently exists in the payroll tax that does not tax income above $106,800:

To keep Social Security strong for another 75 years, Sanders’ legislation would apply the same payroll tax already paid by more than nine out of 10 Americans to those with incomes over $250,000 a year. [...] Under Sanders’ legislation, Social Security benefits would be untouched. The system would be fully funded by making the wealthiest Americans pay the same payroll tax already assessed on those with incomes up to $106,800 a year.

Sanders points out that President Obama himself endorsed this idea on the campaign trail in 2008. “What we need to do is to raise the cap on the payroll tax so that wealthy individuals are paying a little bit more into the system. Right now, somebody like Warren Buffet pays a fraction of 1 percent of his income in payroll tax, whereas the majority…pays payroll tax on 100 percent of their income. I’ve said that was not fair,” said Obama during the campaign.

The Social Security system is currently fully funded until 2037. Lifting the payroll tax cap would virtually eliminate funding shortfalls the program would experience over the next 75 years.

I'd like to add this...In today's environment and misguided efforts to "Throw the bums out!", I will miss the eloquence and compassion of the orators within our Congress as they're replaced by brain-dead zombies incapable of thinking for themselves.

[uselesslegs]

Ah see, there's the problem.  Since Obama endorses the idea, the GOP and Tea party can't...because...well...it's Obama.

I wonder how they'll spin it.  With the tax looming for the middle class...how will the GOP, with a straight face, say the pay roll tax on income over 250k a year is "different" and "bad."

[ekg]

Ah see, there's the problem.  Since Obama endorses the idea, the GOP and Tea party can't...because...well...it's Obama.

I wonder how they'll spin it.  With the tax looming for the middle class...how will the GOP, with a straight face, say the pay roll tax on income over 250k a year is "different" and "bad."

Ahem!

 "we can't keep taxing our small business owners and Job-creators, if we do, they can't create jobs and this country needs jobs! We're all in this together and all need to share the sacrifice, Look, the President is a Muslim who reads a teleprompter, he's a socialist who just doesn't understand this country and we just can't let him tax incomes over $250K a year at this critical time. As for the payroll tax? If we make  these job creators pay more money to this bloated gov't, they'll just shed more jobs. It's time for people to pay for themselves and stop getting this free-tax ride! We tried this idea of Obama's and it didn't work, we need to go back to what works in this country!"

ekg (R)FL 

[betteroffhere]

Ahem!

 "we can't keep taxing our small business owners and Job-creators, if we do, they can't create jobs and this country needs jobs! We're all in this together and all need to share the sacrifice, Look, the President is a Muslim who reads a teleprompter, he's a socialist who just doesn't understand this country and we just can't let him tax incomes over $250K a year at this critical time. As for the payroll tax? If we make  these job creators pay more money to this bloated gov't, they'll just shed more jobs. It's time for people to pay for themselves and stop getting this free-tax ride! We tried this idea of Obama's and it didn't work, we need to go back to what works in this country!"

ekg (R)FL 

i'm sorry...to you, who is it thats getting the free ride  ?...2 options

the afluent...or the burdens benefiting from the tax payer tit ?

i did not click howies links...just going by whats in text...including what he quoted from source...

i absorded what was written formulated a few questions...and went searching


http://www.irs.gov/newsroom/article/0,,id=232590,00.html

http://www.irs.gov/pub/newsroom/notice_1036.pdf

found these two irs links above....click em or not...i'll paraphrase

i think the general rule has been or is the employer matches the employee for social securty witholding...not sure about the medicad/care paert
but i don't think the employer matches on that one...but...

they are saying the percentage rate the employee pays in is reduced...calls it a two percentage point payroll tax cut for employees

that is not a break for the employer !!!

thats doesn't fatten the pockets of those that produce jobs !!!!...it does put a lil extra in the pay check...and since the employer gets a pay check

technically...he's making more money...but come the fuck on...who bullshitting who here...

while there are leeches sucking off the tit...those that work for a pay check are paying their share...

http://www.irs.gov/pub/irs-pdf/f1040sse.pdf

5 Self-employment tax. If the amount on line 4 is:
• $106,800 or less, multiply line 4 by 15.3% (.153). Enter the result here and on Form 1040, line 56,
or Form 1040NR, line 54
• More than $106,800, multiply line 4 by 2.9% (.029). Then, add $13,243.20 to the result.
Enter the total here and on Form 1040, line 56, or Form 1040NR, line 54

000,000----106,800------ .153
106,801----999,999------ .029

thats 12 plus cents saved per dollar above 106,800

nice fucking break yo...

percentage wise per dollar on average the old working joe sure is paying more of his dollars
into the system...wouldn't ya say...

i don't mind incentive...but damn !!!...i hate to run the numbers on how many american make less than 106,800...

a year...let us have a nickle back up to 200,000 ?...from .029 up to .079 ? too much...idk...but damn

i'm sure it help...and seem a lil more fair...




i know...i linked and quoted the self employement numbers and not the employers witholding pdf...
but its the same in general...with the difference i mentioned above...

[betteroffhere]

I've never been able to figure out why there's no means testing for Social Security, Medicare, or other programs designed to help the poor. Does a rich person actually pull out his Medicare card to help pay for medical care? Does he or she really need that extra $1300 or so per month? No.

1. Thats none of your business...they have the right to receive it...what they do with it is their business just as what you do with your money is your private business...

very scary stuff right there...

[Howey]

the afluent...or the burdens benefiting from the tax payer tit ?

huh?

that is not a break for the employer !!!

thats doesn't fatten the pockets of those that produce jobs

That's called "Trickle Down Economics". It hasn't worked since the days of Reagan. Why? Because employers do everything they can NOT to create jobs! It's called greed.

[Howey]

they have the right to receive it

Aha! So it's an entitlement! Good! So when the teabaggers start screaming they want to end medicare, medicaid, social security, unemployment, food stamps, WIC, and so on you're with us in fighting them?


Thanks!

[betteroffhere]

huh?

That's called "Trickle Down Economics". It hasn't worked since the days of Reagan. Why? Because employers do everything they can NOT to create jobs! It's called greed.

oh my....

then who do we count on...the government...?...where will the jobs come from ?...

you are making nervous...

[Howey]

oh my....

then who do we count on...the government...?...where will the jobs come from ?...

You'll get your answer Sept. 7, 2011, 8pm.

you are making nervous...

BOO!

[betteroffhere]

Aha! So it's an entitlement! Good! So when the teabaggers start screaming they want to end medicare, medicaid, social security, unemployment, food stamps, WIC, and so on you're with us in fighting them?


Thanks!

entitlement...?....right to...earned...participated in....the social security system program without an opt out choice....

yes...we all working on the books buy in to the right of entitlement for social security benefits...

that other shit....would have to be examined on a case by case basis...

so NO...i'm not on board with you fighting them over unemployement...wic...food stamps

but i will listen to your concerns or idea's

[betteroffhere]

You'll get your answer Sept. 7, 2011, 8pm.




BOO!

oh....like on that day somehow things are going to change drastically...doubt it

producers produce, consumers consume....

which one are you ?

depending upon which one you are determines how you look at things...

nevermind...i can tell which one you are by you content...