Too bad for the nimrods on the right..but letting those tax cuts for the uber rich

[Peacetrain]

expire, will be one of the best things that ever happened in relation to balancing the nation checkbook and bringing down the deficit.

As some have noted in here the jobs the ubers were supposed to create with their huge tax cuts (anyone remember that continual argument?).. did not happen.. no actual job creation in the last 10 years as they refused to pay.

What a year this is going to be!

Oh and let us lift the caps on Social Security to at least 250,000.00 and secure SS and medicaid for the next 50 to 80 years.


Edit to add in house link: http://www.democraticunderground.com/discuss/duboard.php?az=post&forum=433&topic_id=106614&mesg_id=106614

[ellenfl]

1. k&r eom

[Better Today]

2. And raise the limits on caps for Medicare over $7000, or whatever it is now,

I think it did get raised last year to like $9000, but it should also be raised to at least $250,000 as well.

[mopinko]

5. not sure what you are talking about.

the medicare portion of the fica tax is already unlimited.

[Better Today]

8. Sorry, head up ass syndrome, I was thinking about the unemployment

tax paid by employers to the fed. My bad. That too should be raised at any rate. I don't get the idea that there are caps on what folks should pay, it always costs the lower and middle class more respectively. It would be better to remove caps and lower the percentages, imo.

[mopinko]

11. well, at the risk of wading into the hatred of the "rich" around here-

the reason is this- fica is not a tax. it is the premium for the retirement annuity and disability insurance that is social security. since it is insurance, premiums are related to eventual payouts. if you want to take the cap off the benefits, feel free to take the cap off the premiums. otherwise, it ceases to be an insurance program.
i think that if you did do that, you would alter a dynamic that is very, very important, not just to the recipients, but to the soul of our country. jmho

[jesus_of_suburbia]

3. That's a train I can get on!

:toast:

the tax cuts never should have happened in the first place....

[rebel with a cause]

6. Amen to that!

:hi: since I'm a teetotaler, but of course that could be root beer. :rofl:

[jgraz]

4. When do we let the Reagan tax cuts "expire"?

We've been suffering under that disaster for almost 30 years. No need to lift caps on a regressive tax like SS, just make it progressive like everything else and restore the pre-Reagan tax brackets. We'll be fine.

[JoeyT]

12. Unfortunately, we probably never will.

Which is a shame, because with that and a few other changes we could fix the country within a year. Too bad "People/corporations over X income have to pay their fair share." is somehow considered class warfare now.

[dflprincess]

18. Lifting the cap on the Social Security tax would actually make it less regressive.

Currently once a person makes over the cap ($106,800 for 2010) you pay no SS tax - meaning while most of pay 6.2% of our incomes into the SS fund, those making more pay a smaller percentage of their income into it. Lifting the cap won't make it a progressive tax, but there would be more fairness in it.

(There is no cap on the Medicare tax)

[Dappleganger]

7. K&R

[Vidar]

9. K&R.

[truedelphi]

10. K & R for a great idea. n/t

[Change Happens]

13. Won't happen until 2011, we won't see the money until 2012 :(

[treestar]

14. Good point

Puts the lie to that Republican talking point.

[paulk]

15. they should have been rescinded, not just let expire

but that takes political courage

[thelordofhell]

16. It expires at the end of this year

And the right won't let it expire without a huge fight. Mark my words, the talking point is going to be that Democrats did nothing as taxes increased. I know it sounds stupid, but there are a lot of stupid people out there (and in the media) that will fall for this crap.

[Peacetrain]

17. There are a lot of stupid people out there.. and I think you are right..they area going to

try and keep them.. the tax cuts.. but if we let them expire.. or give targeted cuts to people who actually do create jobs in country.. it will help a lot..