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From: hammond@petrus.UUCP (Rich A. Hammond)
Newsgroups: net.taxes,net.legal
Subject: Re: Social Security (how to get out)
Message-ID: <333@petrus.UUCP>
Date: Mon, 6-Oct-86 09:18:19 EDT
Article-I.D.: petrus.333
Posted: Mon Oct  6 09:18:19 1986
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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