Bush Budget Chief Predicts 50% Hike in Social Security Tax

"Social Security Tax Hike Feared"

By Alan Fram
The Associated Press
Saturday 15 January 2005

Bush official predicts 50% jump with no revamp.

Washington - Social Security taxes will have to rise by half if lawmakers don't revamp the giant program, President Bush's budget chief said Friday as the administration sought support for its overhaul plans."

On the other hand -- if the Social Security tax were made to apply to EVERYONE EQUALLY (i.e., the people who make of $80,000 a year pay THE SAME PERCENTAGE of their income as the people who earn $32,000 a year --- 6.2% if employed by someone else, 12.4% if self-employed), then we wouldn't have this problem.

Hey financially successful guys -- you made your loot from this system, maybe even from doing something like investing and/or co-ordinating the work of others -- do you have enough decency to pay your fair share so that those others can hang on?

Oh, for some semi-information well into the spin cycle, you can go here and read what people who fear the Wrath of Bushies' firing them have to say about the future of Social Security.

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