How much should we keep?
Yes there is an account with your name on it. You should be getting statements from SS showing your SS wages over time along with how much you can expect each month from SS when you retire.
Or, if you want to start collecting right away,that's quite easy to do.
Go and get yourself disabled.
Since this topic was placed under "poverty"? I guess that depends upon the poverty level income to start with.
Any income tax that is applied, should be applied with the fore-thought that poverty isn't to be accepted. And, I don't like the idea of giving money to the government, and expecting them to do what is right, because they do not do things that are for the people, and it's high time that they learned that it is actually necessary to do so.
Which means, before taxes are figured out, there needs to be a new pay scale established for political officials. Their incomes are ridiculously high for the little work that they actually do. They're public servants and most of them are business owners as well. So, there's an inherent conflict of interest.
As for taxes themselves- again poverty shouldn't be seen as acceptable, so there should be a flat tax rate for anyone living within poverty levels and that rate should encourage people to increase their income to lower their taxes, at the next highest level, after that, it should be a graduated tax assessment.
For families living at poverty level or under$14,000, (I chose this level, because as it stands, my mother is living on working part-time(64 yrs old) and collecting part-time benefits from social security and her earnings cannot go over $14,120, otherwise they strip her of her checks- example: SS claims to take $1 for every $2 over that amount(meaning if my mother makes $2000 over then they take $1000 from her and that equals one month check, so she would have to go without and possibly not be able to pay her rent-due to the fact that other things are so expensive.) and if the earnings are too high then they simply take back whatever amount they are awarded) at 10% of total earnings.
Now, that would change, once it goes over that amount and drop to 5-7% from $14000.01 - $25,000 per year. Then increase to 14% from $25,000 - $75,000 per year. Then go up to 21% from $75,000.01 - $125,000 per year. Then increase yet again to 28% from $125,000 - $200,000 per year. Then increase yet again to 35% from $200,000.01 - $500,000 per year and 42% for anything over $500,000 per year.
As you can see, the increase is based on a 7% points, which would(or could) start on $14,000.01 earnings or at $25,000 per year(I am suggesting that it be broken down 7% at the lower end and 5% at the higher end, so as to encourage people to earn more). The only time it would change is after $25,000.01 and would increase 7% per income bracket.
Say what you will, but something has to change.
- Holmes221bposted 12 years ago
0 - SarahPalinposted 12 years ago0
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