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Old 11-27-2007, 11:01 AM
Moseley Moseley is offline
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Join Date: Jun 2007
Posts: 394
Default Re: Understanding the Social Security scam

Here is another way in which it is a tax scheme for the rich:
I think it was 2004, when I was doing some research, and found that the ssi surplus for that year was approx 350b.

The general budget's deficit, after taking out ssi outlays and ssi income for the year from the equation, was about 780b.

See how much of the deficit (350/750) 44.87% was paid for with ssi surplus monies.

The individual paid in 1/2 of that 350b and the employer paid in the other 1/2.

Since the cap is 97,500 (we'll say 100k), anyone making less paid ssi taxes on 100% of their monies and had 48% of those ssi taxes go to paying the deficit.

Those football players making 2m a year, were taxed for ssi on 5% of their gross income.

A football player, with nothing more than a high school education,(many don't go to college now before going pro) only contribute taxes on 5% of the gross to ssi, while a college grad with a computer sciences degree pays out taxes on 100% of his income.

Now, this wouldn't be a problem, if it weren't for the fact that the 2+ trillion dollar surplus that ssi suposedly has, cannot be repaid without congress raising taxes.

So, it's the class of citizens who earn under 97.5k that have been paying for a good portion of the deficit every year.

When Clinton claimed to have balanced the budget one year, it was because there was enough of a ssi surplus that year to pay for the deficit in the general budget.

It's a sad sad day. The American Middle Class has let their representatives [censored] on them without a fight.
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