Come for the politics, stay for the snark.

Presidents are not kings, and Plaintiff is not President.

It may be funny to you motherfucker, but it’s not funny to me.

If you tweet it in all caps, that makes it true!

Whoever he was, that guy was nuts.

I’ve spoken to my cat about this, but it doesn’t seem to do any good.

Historically it was a little unusual for the president to be an incoherent babbling moron.

Only Democrats have agency, apparently.

Conservatism: there are some people the law protects but does not bind and others who the law binds but does not protect.

We’ve had enough carrots to last a lifetime. break out the sticks.

The willow is too close to the house.

The words do not have to be perfect.

I’d like to think you all would remain faithful to me if i ever tried to have some of you killed.

Usually wrong but never in doubt

Balloon Juice has never been a refuge for the linguistically delicate.

Putting aside our relentless self-interest because the moral imperative is crystal clear.

Insiders who complain to politico: please report to the white house office of shut the fuck up.

My years-long effort to drive family and friends away has really paid off this year.

That’s my take and I am available for criticism at this time.

Accused of treason; bitches about the ratings. I am in awe.

Eh, that’s media spin. biden’s health is fine and he’s doing a good job.

I’d try pessimism, but it probably wouldn’t work.

Since when do we limit our critiques to things we could do better ourselves?

Russian mouthpiece, go fuck yourself.

We still have time to mess this up!

You are here: Home / Politics / Domestic Politics / Social Security

Social Security

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If you have noticed, I have not written about social security reform, and there is a reason for this- I don’t care, really. I think there is nothing wrong with me investing in personal funds, but if not, I am willing to accept that I may or may not see a return on my money if social security is kept as it is.

After all, it is only 6.5% (or whatever the number is) of my income. I am more concerned with the other 30%-50% of my income the government is pissing down a hole. Once you get past my knee-jerk opposition to government programs such as this, the whole topic of social security just makes my eyes glaze over.

It does moderately piss me off that we pretend every now and then to have balanced budgetsm when in fact we are ripping off several hundred billion in social security receipts. I am getting sleepy.

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10Comments

  2. 2.

    Kimmitt

    I am more concerned with the other 30%-50% of my income the government is pissing down a hole.

    Er, the entire size of the US government — Federal, State, and Local — is 32% of GDP, plus or minus. It’s more or less impossible to pay anywhere close to 50% of your income to the government these days.

    Not saying, just saying.

  4. 4.

    Kimmitt

    Er, yes, but what I’m saying is that given that the total percentage of government in the economy is 32% (taxes paid is a bit lower, since we’re borrowing so much money, I think it’s about 28-29%), you have to be precisely in the unsweet spot of 80k to be paying in the highest income tax bracket, still contributing to Social Security, and in one of the higher tax states for it to be possible that you’re paying over 40% of your income in taxes.

    Just nitpicking, and certainly I have no trouble with any attempts to hold policymakers and executives responsible for their stewardship over our shared resources.

  6. 6.

    Toren

    Kimmitt, you are so full of shit. I run my own business (aka “self employed”) meaning none of my taxes are hidden in the employer’s accounting. In 2004 I paid–in Fed, CA, and SET–a total of 53% of my income in taxes.
    And yes, that does not include sales taxes (8.75% of my after tax income…in other words, nearly 18% of my gross) property tax ($1543 a month), etc.
    The government is going to spend this country into the abyss.

  7. 7.

    Tom

    Lets see…SET would be 13%ish at it’s max, of around 80k. At that level, single, with one exemption and the standard deduction (Taxable income of 72050), you’re looking at a tax of 14794, a rate of 20.5%.

    According to this site:

    http://www.ftb.ca.gov/individuals/tax_table/index.asp

    …the tax on 80,000 for a single person in CA is 5464, or 6.8%.

    6.8+20.5+13=40.3

    How the heck are you getting a rate of 53%???

  8. 8.

    Kimmitt

    Do your figures take things like sales taxes, property taxes, etc. into account?

    My BotE calculation assumed about 9% for state taxes in toto, based on most states’ tax receipts. State taxes tend to be roughly proportional; sales taxes are regressive while income taxes tend to be progressive. This would probably be wrong for a place like New York or LA in particular, which have heavier tax burdens.

    I do submit that it is very possible to pay 50% or even 60% of a marginal dollar to various governments while in the unsweet spot.

    That said, I really am unpleasantly surprised to hear that anyone’s paying 53% of their income in taxes. 16% for SS, 3% for Medicare, and 9% for the state implies that you’re sending 25% in Federal income taxes, which is a lot.

    So, I guess I’d have to revise my thesis — unless you live in New York or LA, make precisely the “wrong” amount, and are stuck paying SE taxes (there are valid arguments to be made that employers and employees really do split the cost of SS which do not apply to the self-employed), it’s very difficult to break 40% in taxes.

    Not to distract from the point that we should keep our politicians honest, though of course this site’s owner and I have wildly different views on how to do so.

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