Reply #8: Does the Democratic Party have what it takes [View All]

[mulethree]

Do they have the balls to say 'raise taxes'? To push for Kerry-style repeals of tax cuts on those earning over $200K? To end corporate welfare and the welfare for capital gains earners and dividend earners and inheritances?

The SS trust is built by a flat tax that only applies to the lowest 80% of the income scale.

It has financed spending which should have been financed by a progressive income tax and corporate taxes. Now they've reduced the higher end income taxes, corporate taxes, capital gains taxes, and hope to flatten out the tax scale even more. By the time 2018 comes around, they'd like to arrange for the bottom 80% to be re-paying the trust fund redemptions, sort of making the flatter tax scale retroactive in regard to past deficits.

I'm pretty sure they intend to get the transition costs worked into the benefit cuts on the 'social' 2/3 of the system. This will make their 'personal' 1/3 look better.

I'm looking forward to the reaction from the 50% or so who make between $25K and $87K. If they are convinced that the personal accounts are good, then they'll be pissed about the $1000/year cap. It seems to exist only to limit the transition costs but limits a $87K earner to 10% 'personalization' while those $25K-and-under get the full 32% 'personalization'.

Bleh - the whole system violates the KISS principle and the 'personalization' makes it twice as bad.

I get the feeling that "the unfettered capitalism of 100 years ago that produced vast fortunes for wealthy capitalists and deplorable living standards for workers" is one or the other of 'freedom' and 'liberty' that Bush wants to spread worldwide.