This is called a regressive tax. The Republican party should embrace the word regression. Their followers are too stupid to understand its meaning anyway.
Social Security is supposed to be like a forced retirement account - what you pay in is what you get out of it later. It was essentially an emergency measure put into place when a lot of Americans were struggling. Since it doesn’t make sense to have a payout above a certain amount, as it would be above the average cost of living, there’s a cap of how much is collected per person per year.
But that’s never been the way it works. Your payment finances the government budget, one of whose functions is to pay out social security money to current retirees. If you set up the income tax in such a regressive way, there will not be enough money to pay social security, which is of course what Republicans want so that they can have another excuse to cut the program entirely.
The Republican party should embrace the word regression.
Never happen. It’s up to all of us to simply start refering to them as regressives so it becomes their name.
I’ve started to say “conservative/regressive” every time I mention them. I’m going to keep doing it and hope others join in until there’s enough of us globally to drop the conservative part since it truly doesn’t apply to them.
This is called a regressive tax. The Republican party should embrace the word regression. Their followers are too stupid to understand its meaning anyway.
In America there’s a contest to see how out-of-date one’s economics can be. If you quote Adam Smith, they’ll call you a pinko.
Social Security is supposed to be like a forced retirement account - what you pay in is what you get out of it later. It was essentially an emergency measure put into place when a lot of Americans were struggling. Since it doesn’t make sense to have a payout above a certain amount, as it would be above the average cost of living, there’s a cap of how much is collected per person per year.
But that’s never been the way it works. Your payment finances the government budget, one of whose functions is to pay out social security money to current retirees. If you set up the income tax in such a regressive way, there will not be enough money to pay social security, which is of course what Republicans want so that they can have another excuse to cut the program entirely.
Never happen. It’s up to all of us to simply start refering to them as regressives so it becomes their name.
I’ve started to say “conservative/regressive” every time I mention them. I’m going to keep doing it and hope others join in until there’s enough of us globally to drop the conservative part since it truly doesn’t apply to them.