Replace income, corporate, payroll and estate taxes

[Mick]

…with a 30% national sales tax.  A Republican came up with this political gift idea, and the Dems are deeeeeeeeelighted.

Fair Tax Act: Republicans worry that national sales tax bill would be a a “political gift” for Democrats | Semafor

[Genuine Realist]

The Newt Gingrich mistake.

BTW, you must be reaching Social Security age. It’s still there. Told ya so.

I wouldn't give you two cents for all your fancy rules if, behind them, they didn't have a little bit of plain, ordinary, everyday kindness - yeah, and a little looking out for the other fella, too.

[Mick]

Good to hear from you, GR. And oh yeah. I’m 60. So I only want what the older folks had. I want what the first SocSec recipient received relative to her payments. Ida May Fuller was a legal secretary who paid in a total of $24.75 and during her lifetime collected $22,888.92 in benefits. That’s what I want.  A 1,000x payout.

And happily, Social Security is still there for me, just like it was for my parents and grandpar..hee hee hah hah. Oh man, I can’t type that with a straight face. Because it’s not true, is it? I was born a little too late.  I didn’t get to pay in at 1% (1937-1949), and 1.5% (1950-1953), and 2% (1954-1956), and so on.  When I was a teen, FICA withholdings ranged from 4.95% to 5.08%. In college, went from 5.35% to 5.7%, where it stayed for a full three years, till it went to 6.06% in 1988 and then to its current 6.2% since 1990…the last 32 years. Basically, my full time career.

At least they treated me fairly by not moving the retirement age. Nope, can still get full benefits at 65. Did I say 65? I meant 67. My early benefits were put off two extra years as well. Yippee for my generation.

Did I mention that the SS trust funds will be exhausted in 2034, at which point, Social Security will pay about 3/4ths of scheduled benefits? So in sum:

1. I paid in a lot more.
2. I get to take payments a lot older.
3. My payments will be a lot less in real terms.

What a great program!  If I retire at 67 (now the full retirement age), I’ll save you the suspense…I wont get the 1,000x payout.  I’ll probably not get a 1x payout. At least I should die young from the stress.

• This reply was modified 3 years, 3 months ago by Mick.

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