
Re: CSM: The rich do not pay their fair share
Caius wrote:
You pay your social security taxes (on the first $102k in 08) while you work and then when you reach a certain age, you begin to receive social security payouts (assuming you do not die before this age). So while it is true that poor people are subject to paying payroll taxes, like social security, its also true that in the end they will get a portion of this money back.
That's not how SS works. It's not a giant savings account in which you get out what you put in. You're paying out for the benefit of today's current retirees and eldery. And when you reach retirement age, your benefits will come from that current generation of workers.
And I'm not sure why this justifies a regressive payroll tax anyway. You could say that you "get back" benefits from all of your taxes. You get public highways, fire and police protection, national security protection, an army, economic structure and regulation, etc etc. You don't get a check, but that doesn't mean you're not getting it back.