WalterJR

Social Security: Time to Uncap FICA

gu econ: No problem, and I appreciate your politeness. [And, as Internet insults go, that one probably didn't crack my top ten (million) list.]

I used to be a pretty hardcore libertarian so I understand where you are coming from. It's just that there are many competing worldviews which are just as valid (and frequently far more realistic). Also, my original comment could be modified to state, say, that a person only wanted to pay for the percentage of military action he found effective -- and still make the same point.

Social Security: Time to Uncap FICA

gu econ:

Do you really think that is a convincing argument?

Welcome to the real world. We as a society decide what we will do. Some people like Social Security, some don't. Some like foreign invasions, some don't. As a society, we pay for everything we as a society deem is a good idea. You are naive to think your argument is convincing to anyone whose life is not centered around your "basic economics textbook." A street corner preacher surrounded by atheists who don't see his "textbook" as an argument ender.

Social Security: Time to Uncap FICA

levin70:

The problem with that train of thought is that we would not be able to have a military or judicial system or an interstate highway system. Because everyone would "prefer to keep that which they earn."

Social Security: Time to Uncap FICA

traden4alpha:

You might be surprised to discover that the guy making 60K does not get double what a guy making 30K gets. I know I was surprised. A guy making 12K will receive 63% of his salary, a guy making 75K only 39%. That's a major reason I don't have a problem raising the cap. We already have a "progressive tax" in FICA, I don't see the removal of the cap as much of a change. In fact, I support it. Why should the people making just under the cap at 100K pay for those making 30K, but those making over 100K no longer pay in relation to their income. (I hope my point got through. I'm not sure I worded that last part very well.)

Can the Dow and S&P Last 15 Rounds?

Thanks, everyone. I really appreciate your comments. Very helpful.

Can the Dow and S&P Last 15 Rounds?

Excellent column. I hope you won't mind a tangential question. HTE is a Canadian trust and that nation collects taxes on the dividends. Can Americans file a tax return in Canada to have those taxes refunded? (Assuming the amounts are relatively small.) If not, then the yields shown on the stock charts are not true (too high) for American investors.