In response to:

The Safety Net That Isn't

Irresponsible47Percenter Wrote: Jan 06, 2013 10:26 AM
A rise in the retirement is age is how the poor, the middle class, all of us who have an actual economic need for the SS fund in our old age can contribute to a shared solution for the SS (and medicare) crisis. That will be the biggest chunk, but I for one am not above seeking additional revenue. Maybe income above $113K can be taxed at some extremely low rate. And if we ever get to a situation where there is an annual SS surplus (and we will when the baby boomers die off) that we should adopt a system where we hold maybe 1-2 years of srplus as a cushion, the start refunding it! Of course, the other side of that coin is that when SS runs a deficit we pay out of general revenue or borrowing

January 6, 2013

Congress has just raised payroll taxes. It has done it before, and will do it again.

Our august solons excuse themselves, however, by pleading that the 2 percentage point hike is merely the sunset of a tax holiday. And necessary to shore up a faltering system.

It’s not a triumph of responsibility, though.

What is responsibility? Every year the Social Security Administration sends out a helpful note to its “clients” about how much we’ve contributed in payroll taxes. The kindly bureaucrats also warn us not to...