Friday, September 27, 2024
Don't cut social security benefits before reforming social security!!!
Social Security reform measures:
How to preserve the social security system for the poor, middle class, and some of the rich. Should we regret separating the very rich from the social security system?
First, tax (social security tax - 6.20 %) the rich on their incomes (now, in 2024 we only tax up to the first $ 168,600 of their incomes)
Let’s say we tax (6.20%) as follows:
Year Income
2025 $340,000
2026 $700,000
2027 $1,500,000
2028 $3,000,000
2029 $7,000,000
2030 $15,000,000
2031 $28,000,000
2032 and on $47,000,000
Second, let's stop paying out social security to the very rich and change (reduce) the payments that the rich were supposed to receive. Again let’s not regret these changes - let’s not feel sorry for the very rich.
Let’s say we stop paying out social security to the very rich - those people that averaged $17,500,000 a year income over the last three years. So that three years from now, in 2027, the very rich would no longer receive any social security. Also, let’s reduce what rich people would have received from social security as such:
Average income over the last three years Reduced social security payment
$15,750,000 .375
$13,750,000 .50
$12,2250,000 .75
$8,500,000 .885
Those averaging less than $8.5 million over the last three years of their work will receive what social security plans on giving them, and those making more will have their benefits reduced.
Third, institute a net asset tax on the very rich and use the raised money to help preserve the Social Security System for the poor, middle class and some of the rich.
A net asset tax could look like:
Net Assets Tax + ___ % over
$0 - $28,000,000 $0 .20 $0
$28,000,000 - $90,000,000 $56,000 .30 $28,000,000
$90,000,000 - $250,000,000 $242,000 .50 $90,000,000
$250,000,000 - $500,000,000 $1,042,000 1.00 $250.000.000
$500,000,000 - $1,000,000,000 $3,542,000 1.345 $500,000,000
$1,000,000,000 - $3,000,000,000 $10,267,000 1.803 $1,000,000,000
$3,000,000,000 - $6,000,000,000 $46,327,000 2.431 $3,000,000,000
Over $6,000,000,000 $119,257,000 3.25 $6,000,000,000
With allowable deductions of:
Personal - $6,000,000
Spouse - $6,000,000
Child under 19 years of age - $2,4000,000
Forth, require more earned Social Security credits to be eligible to collect social security (currently in 2024 it’s 40) as such:
Year Earned credits required
1 60
6 74
11 92
16 115
21 144
These are some measures to help preserve social security without having to cut benefits. Before deciding on cutting benefits, let’s put these measures into law and see if further actions are required to help preserve social security for the poor, middle class, and some of the rich.
Please contact President Joe Biden at The White House, Wash. D.C. 20500, U.S. Congressman Josh Gottheimer, 93 Spring st. suite 408, Newton, NJ 07860, and U.S. Senator Cory Booker, One Gateway Center - 23rd fl., Newark, NJ 07101.
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2024
(13596)
-
▼
September
(1373)
- Beautiful article by Father Shenan J. Boquet at Hu...
- A wonderful article by Father Shenan J. Boquet at ...
- Which is worse: BIG Tobacco or BIG Abortion???
- JESUS is the Way, the Truth, and the Life!!!
- Science has proved it: Smoking is anti-life and a...
- Dear, dear Reverend Al Sharpton (we serve the Rise...
- Smoking is anti-life and anti-choice!!!
- Our Hope is in JESUS!!!
- GOD is good to me. GOD is so good to me!!!
- GOD is love. GOD is LOVE!!!
- GOD is faithful. GOD is just. GOD is perfect.
- Resist the devil and he will flee.
- Flee sexual immorality.
- HE is Risen. HE is Risen, indeed!!!
- Israel has a right to defeat Hamas and Hezbollah!!!
- Dear, dear NJ Attorney General Matt Platkin - plea...
- Please, please help improve the Justice System Vic...
- Increase the size of The House of Representatives???
- Why not increase the size of The House of Represen...
- Please, please help give land back to Native Ameri...
- Why not give Just Restoration Payments to descenda...
- Why not help out Sudan???
- Why not have a group of 38 (G38) and a group of 55...
- An international oversight committee to help preve...
- Why not create a nuclear oversight committee???
- Why not improve social security so that benefits w...
- Why not institute a net asset tax and use the mone...
- Why not give those in need A Lift up???
- Please, please help those in need with A Lift Up P...
- Please, please help "clinicize" drugs (including t...
- Please, please help make the polluters pay!!!
- Please, please help end the Mafia and other organi...
- Please, please help end the flow of taxpayers' dol...
- Planned Parenthood implicated in the selling of ba...
- Please, please help end the flow of taxpayers' dol...
- Please, please help end child pornography in much ...
- Please, please help end black genocide - please, p...
- still seeking . . . . . .
- In hope, peace, and love . . . .
- Please, please pray for the hostages and loved ones.
- Please, please help end anti-Semitism and racism.
- Please, please help improve the Justice System - d...
- Please, please help improve the Health Care System...
- Please, please help end the war on the unborn chil...
- Please, please help repeal, or change all the prob...
- Please, please help end the destruction of life!!!...
- Are there any climate scientists that believe that...
- Are there any climate scientists that believe that...
- Are there any climate scientists that believe tha...
- Where is a good place to worship the Messiah of th...
- Where is a good place to worship the Savior of the...
- Where is a good place to worship the good LORD??? ...
- JESUS is the Living Water!!!
- JESUS is the Lamb of GOD!!!
- JESUS is LORD!!!
- JESUS is the Light of the world!!!
- Love does no harm to his neighbor, therefore, love...
- Let us owe no man anything, but to love one another.
- Love one another. We love, because HE first loved...
- HIS yoke is easy, HIS burden is light.
- LORD of the Harvest, the Harvest is plentiful, but...
- Our Hope is in JESUS
- Dear, dear friends at Stevens Institute of Technol...
- Please, please help end child pornography in much ...
- Where is a good place to worship the Savior of the...
- Where is a good place to worship the good LORD??? ...
- JESUS is the Living Water!!!
- JESUS is the Lamb of GOD!!!
- JESUS is the Light of the world!!!
- HE is Risen. HE is Risen, indeed!
- Please, please help end the war on the pre-born ch...
- Please, please help end the war on the unborn chil...
- Please, please help improve the Justice System - d...
- Please, please help improve the Health Care System...
- Please, please help repeal, or change all the prob...
- Please, please help end the destruction of life!!!...
- Love does no harm to his neighbor, therefore, love...
- Love does not delight in evil. Love rejoices in t...
- Let us owe no man anything, but to love one another.
- Love one another. We love, because HE first loved...
- GOD is faithful. GOD is just. GOD is perfect.
- HIS yoke is easy, HIS burden is light.
- LORD of the Harvest, the Harvest is plentiful, but...
- Our Hope is in JESUS!!!
- President Donald Trump for President???
- Vice President Kamala Harris for President!!!
- JESUS is the Word of GOD!!!!!!
- JESUS is the Messiah of the world!!!
- JESUS is the Risen LORD!!!!
- HE is Risen. HE is Risen, indeed!!!
- Dear, dear friends at Human Life International - p...
- My dad fought in WWII, and the good LORD, our Crea...
- Dear, dear friends at Life Legal Defense Foundatio...
- Dear, dear friends at Life Decisions International...
- Dear, dear friends of Teanck High School, Teaneck,...
- Dear, dear friends of Stevens Institute of technol...
- Please, please pray for the hostages and loved one...
- Please, please pray for the hostages and loved one...
- Please, please pray for the hostages and loved one...
- Do unto others as you would have them do unto you.
-
▼
September
(1373)
No comments:
Post a Comment