Ok, I disagree with Bernie. This makes no sense to me.
We have talked about income taxes. I agree that taxes should be proportional. A person with $10 million salary a year should pay the same proportion in taxes as a person making $50,000. Well, if you take away loopholes, and shelters, and tricky accounting, and fraud, the person with the $10 million salary is likely paying a higher rate than the person making $50,000 already.
Social Security is not a tax. It’s meant to be a fund you pay into during your working life to get a pension later. It makes sense. The only argument conservatives often have is that people should be allowed to save their own money and then use that later. Why trust the government with it?
Well, I can honestly say that if I hadn’t had to pay Social Security all my life, I would not likely have saved the same amount. So I think, at least in my case, it worked. I paid in.
When I reach the correct age, I can start withdrawing based on what I paid in. If I had made $10 million a year, and paid in $1 million every year, would I get out several million a year in “Social Security” now? Of course not.
What Bernie is suggesting here is making Social Security just another tax.
That makes no sense to me. I don’t want rich guys to pay so I can have Social Security benefits. I paid in all my life, and entrusted the government with my money. The government now owes me that money. It is my money. It is not an entitlement. The government has no right to touch it — even though I know it did, and that’s why it wants to play shenanigans with it now.
No, Bernie, I am not with you.