by Robert Reich:As if you didn’t already have too much to worry about, Social Security’s funds

[Moostache]

88. This is why they say the trust fund is broke...

Put it this way, the solution is finding a way to ensure that a hedge fund BILLIONAIRE does not pay LESS in FICA than an office janitor or small business owner. The free ride at the top end of the income scale is not part of the problem, its the whole damn thing!

Progressive taxation of wealth accumulation is the answer. When the government programs of the New Deal were introduced and expanded, the thought that people would make Billions of dollars as heirs to a discount department store concept or that others would make Billions more in the casino stock market and investment advice game was never included in the logic.

Taxing ONLY wages and at that doing so in a regressive manner by capping the contribution limits is a destructive thing that should be remedied by ensuring that if high income and high wealth acquisition people wish to pay LESS in taxes, then they better start spending a ton MORE to buy down their taxes. And I do not mean through shady "gifts" or "donations" to dummy corporations or holding companies in their children's names...I mean actual spending in hiring and wages paid to employees or physical, tangible items that provide the flow of money in a healthy economy versus the stagnation and hoarding we see today.

Raising the income tax, without adjusting how it is applied and what it encourages is just more short sighted stupidity.