Comments on Buttle's World: Social Security Idea

I'm not a big fan of maximizing the treasury depar...

2005-04-29T11:38:00.000-07:00

I'm not a big fan of maximizing the treasury department's rake on the economy, but it does seem like this would be a significant hit. Alumino's point about the marginal influence is a good one, and it also seems like it would be a very easy system to game. Someone who, for example owned a couple of rental houses, could simply hire themselves to manage the houses and draw the enterprise profits as salary, tax free. We'd also see a raft of contracts with deferred compensation. "Ok Bill, your salary is going to be $2K/month until April, 2018 when it'll go to $20K/month." Fewer rules + fewer exclusions + Lower rates = less gaming and a fairer system overall.

The idea has considerable merit. The only objecti...

2005-04-29T11:20:00.000-07:00

The idea has considerable merit. The only objection that occurs to me is that it is mostly incompatible with the Fair Tax Proposal which I also support.

But since the chances of getting either are remote, the problems of getting both can be dealt with in the unlikely event they arise.

But aren't there currently millions of people work...

2005-04-29T09:37:00.000-07:00

But aren't there currently millions of people working past their "retirement age" *and* paying taxes into the system? All while receiving no SS checks? So now these folks don't pay taxes? And that is supposed to *help*? So a 70-year old CEO earning 7 figures doesn't pay taxes any longer but that will be ofset by a few folks working 3 more years at the florist?

I think Paul will be happy but Peter will be filing a police report on this one!

love it. and how soon can we LOWER the retirement ...

2005-04-29T09:15:00.000-07:00

love it. and how soon can we LOWER the retirement age!