Thread View: net.taxes
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Started by Barry Shein
Sun, 05 Oct 1986 01:54
Social Security (how to get out)
Author: Barry Shein
Date: Sun, 05 Oct 1986 01:54
Date: Sun, 05 Oct 1986 01:54
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From: ross@raster.UUCP >Like many other people, I believe that by the time I am old enough >to collect it, Social Security will be long gone. Meanwhile, SS >takes a larger percentage of my income every year, with the maximum >amount ever increasing. > >IS THERE ANY WAY OUT??? I think my father (a businessman) put it well once: "If you do not wish to pay taxes, do not make a profit". Beyond that I doubt you will avoid SS. You might take some comfort, if you are not hopelessly hard-hearted, that your SS does not go into some 'account' for your future, but rather directly (more or less) into SS payments for current recipients. This is how the system was bootstrapped and how it was always meant to work. Therefore, the only way to let you out is to stop payments to current recipients, not forego your future needs. The hope is not that your SS 'savings' are not squandered in the future, but rather that there are people working at that time who's SS payments will be delivered to you. You may be right, it may be eliminated before many of us collect but I am not certain that the original problem (aid to the elderly, not the only service of SS, but the main purpose) will have gone away. Will we just be letting those who did not prepare for themselves to starve? Perhaps. Or perhaps they will be on whatever we call Welfare by then, the same thing except perhaps for the dignity of knowing that your SS payment was the reward of a lifetime of work rather than charity. Or perhaps there will be no welfare and the less fortunate will beg and starve in the streets. Or perhaps there will be a nuclear war. Or perhaps... Perhaps it will give you some comfort to think of it philosophically as I do: It never was your money. Remember when your employer said "You like a fine young xyz, how would you like to work for me for $XY,000?", well s/he lied, it was $XY,000 - SS - other_things, the whole figure never was yours, you imagined it, you labor under a fallacy. If you want more money there are probably much easier ways to obtain it than bemoaning the SS system and trying to find a way out (or is this a religious thing? I am assuming you just want more money and figure not paying taxes would help you acheive that goal, you mention wanting to buy a stereo with the saved SS money.) Sorry, not meant to antagonize, I really believe most everything I've said above in terms of myself. -Barry Shein, Boston University
Re: Social Security (how to get out)
Author: Rich A. Hammond
Date: Mon, 06 Oct 1986 13:18
Date: Mon, 06 Oct 1986 13:18
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From: ross@raster.UUCP >Like many other people, I believe that by the time I am old enough >to collect it, Social Security will be long gone. Meanwhile, SS >takes a larger percentage of my income every year, with the maximum >amount ever increasing. > >IS THERE ANY WAY OUT??? As Barry Shein has noted, this is a transfer tax to support the current recepients. Those recepients depend on it, it won't get reduced. However, you can make your congress persons aware of your concerns. I think it is entirely fair and right for those of us paying the tax to complain to our representatives that they are "buying" the votes of the elderly at our expense. The SS tax will go up next year by taxing the first 46,000 of income (right now its 42000), in 1988 the rate will go up from the current 7.15%. I think there's another rate increase scheduled for 1989. While I do think we should care for the elderly, I'm not sure that we shouldn't go to more of a means tests for payments. Why should my parents or grandparents, who have as much income as I (or near, considering their larger house is paid off, while I pay a mortgage), receive SS benefits simply because of age (I know, they are taxed on them, somewhat)? Help the poor (perhaps even more than we do now), but not all those >62. Rich Hammond
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