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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIronically 47% DO pay for operation of federal government just with a different tax...
Everybody who gets wages or a salary pays Social Security tax, which was doubled in the 80's to accumulate a surplus to prepare for Baby Boomers retirement.
Instead, government did some three card monte and borrowed that surplus to pay for other expenditures, which was absolutely necessary because of cuts to the income tax that mainly helped the very wealthy.
Any talk about "reforming" Social Security is really about welching on that debt.
So the 47% are LOANING money to the federal government, who keeps trying to talk their way out of repaying them.
When the top 1% (really of 1% of 1%, etc) loan the government money, they fully expect to be repaid and they are.
In a way, that means at least half the tax payers are getting screwed, but it's not the half Republicans claim.
econoclast
(543 posts)The SS trust fund is required by law - and has been since its inception in the 1930s to invest any surplus in US government securities ... That is to say to lend that surplus to the government.
Thats the way the program was designed by FDR. You can look it up. The SS website has a link to the SS historians office - they have one - and you can get the full history.
exboyfil
(17,865 posts)could we not have put in place covenants regarding additional borrowing above and beyond the money which we lent to the government? Did anyone talk about this in 1983 when the building for the future retirees taxes were put in place?
yurbud
(39,405 posts)HiPointDem
(20,729 posts)what happened after Reagan "reformed" it to make the boomers 'pre-pay'.
Those unprecedented surplus collections are what the poster is talking about, and yes, they robbed the poor to give income tax cuts to the rich -- and to set up the demands for reductions in social programs, including social security.
meow2u3
(24,773 posts)Every time you fill up your tank, you pay taxes: Federal excise taxes, otherwise known as the gas tax.
Every time you light up (which most people don't do), you're paying Federal excise taxes.
Every time you have a drink at the bar, or buy beer, wine, or liquor, you're paying Federal excise taxes.
We also pay Federal excise taxes on a number of goods.
So don't tell ME that 47% of Americans don't pay any Federal taxes.
pansypoo53219
(20,996 posts)so i am sure I paid a big chuck of that measly amount CAUSED BY THE FUCKING BUSH TAX CUTS SO ART SALES SUCK. they have SUCKED ever since georgee fucking W bush. so, whenever ANYBODY says the economy was FINE under W, i say HELL NO IT WASN'T. shit, i remember, near the end of clinto our daily had THREE sections for jobs. bush never EVER had even CLOSE to 2. KILL THE BUSH TAX CUTS! and fucking RAISE INTEREST RATES!!!