Obama’s Social Security Solution
We’ve covered a horrible plan from Hillary on Healthcare. Now it’s Obama’s turn. He proposed a new plan to fix Social Security the other day. Let me start off by saying I hate Social Security. Not only is it another governmental program to help the lazy, it doesn’t even work.
Did you know that if you start working a Social Security taxable job at age 21, the program will return less than 1% of that money you paid? And that’s only if you start collecting Social Security as soon as your eligible, and live to be 90?
Anyways, back to Obama’s plan. He’s got a typical liberal plan to fix it. Tax the rich more money. That’s it buddy, tax the people that won’t ever need to collect Social Security. If you’re a smart person, or only partially-intelligent and invest your money wisely, you won’t ever have a need for Social Security. Like welfare, but that’s a different issue.
Currently, Social Security can only tax up to $97,000 of income per year. Anything above that is exempt from the tax. Obama plans to eliminate that cap, and make all income above $97,000 taxable at a 12.4% clip.
Ever play Mario Party? If you have, then you’ve probably run into this situation. You’ve got about 100 coins and everyone else has 10. Then some schlub lands on a Bowser space and gets the “Bowser Revolution” option and everyone’s coins are divided evenly amongst all four players. Naturally, you’re pretty pissed.
That’s basically what Social Security is…an income redistribution scheme. Take money from those who work and give it to those who don’t. The top 10% of income earners already pay something over 80% of all taxes. Then they should receive 80% of the benefits too.
So what’s the solution? Duh, the FairTax.
Tourists come to this country and spend billions of dollars on everything from ash trays to second homes, and do they pay any Social Security tax? Nope, not a penny. But under the FairTax every dollar a tourist spends on a hotel room in New York or a ticket at Disney World would see 23% sent to the federal government.
Ditto for the underground economy and the money spent by our wonderful, hard-working illegal aliens. Just how much do you think they’re paying into Social Security now? About the same as the tile on my bathroom floor.
So, in the bad plan game,
Hillary – 1
Obama – 1
I still haven’t really settled on anyone from the Republican field, but anyone has got to be better than these two God-complex airheads. Hell, give me Bill…well, maybe not. Never mind.