Two-thirds of Americans who are over the age of 65 depend on an average annual Social Security benefit of $15,168.36 for at least half of their income.
Currently, earned income in excess of $113,700 is entirely exempt from the 6.2 percent payroll tax that funds Social Security benefits (employers pay a matching 6.2 percent). 5.2 percent of working Americans make more than $113,700 a year. Simply by eliminating the payroll tax earnings cap — and thus ending this regressive exemption for the top 5.2 percent of earners — would, according to the Congressional Budget Office, solve the financial crisis facing the Social Security system.
So why don’t we talk about raising or eliminating the cap – a measure that has strong popular, though not elite, support?
Ezra Klein calls up a bunch of economists Romney’s camp cited for opposition work. Turns out not so great for Romney.
Moon landing was real. Evolution exists. Tax cuts lose revenue. The research has shown this a thousand times. Enough already.
Beware of perfect wording. If the phrasing flows like ad copy, it probably is, warns Jeff Blyskal, a senior editor for Consumer Reports. Review factories are offering $10 for every 5-star review on the e-commerce giant Amazon, the New York Times reported. On that note, Blyskal figures someone waxing poetic about $5 socks should not be taken seriously. “It’s just out of proportion to what it is.
Christian Captialism” in their view, isn’t an oxymoron, it’s God’s will as revealed in the Bible. God wants you to own property and make money, and if some make a lot more money than others, that’s okay. In fact, it’s God’s will too.
During the three weeks I traveled in Australia, I was often asked, with genuine bafflement and considerable sympathy, how the world’s greatest nation had become captive to a band of ideologues and fundamentalists, how the American dream — a beacon to people everywhere — had become so powerless to deliver on its promise of opportunity for all.