tag:blogger.com,1999:blog-6344655463026618501.post4760726787839824800..comments2023-10-12T08:46:12.991-04:00Comments on 84RULES: The Definition Of Fair And A Letter Of Support For The FairTax84ruleshttp://www.blogger.com/profile/03114981487959612297noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-6344655463026618501.post-73024640651041418262008-12-09T09:15:00.000-05:002008-12-09T09:15:00.000-05:00I've done research back in my college years regard...I've done research back in my college years regarding the programs that were created by the New Deal. I've never believed that FDR would approve of the current Social Security system and how much taxes are taken out of paychecks (6.2% employee, 6.2% employer for athe first 102,000 earned). Originally Social security was to tax no more than 3% in 1949 (incrementally phased in from 1% in 1936 to 3% in 1949) for the first $3,000 in wages. In 1949, the average worker made $2,700, while the average worker in 2007 made $40,500 (salaries have increased by 1500% in 58 years). So if you multiply $3,000 by 15, the social security limit would be approximately $45,000). <BR/><BR/>If you made $100,000 in 2008, your social security tax would be $6,200. If the wage limit was $45,000, and the % taxed was 3%, you would pay $1,350, resulting in an increase of $4,850 over what the original system would have taxed you.<BR/><BR/>The biggest obstacle for the fair tax IMO is that we have lived with a system that has been expanded immensely over its original purpose. In today's economy, there are many people who have not properly planned for retirement EVEN WITH a social security check, and that's sad. And on the federal government side, social security will eventually be bankrupt if they don't fix the current system.<BR/><BR/>My plan is that we phase in a fair tax system much in the way that FDR did SS in 1936. I think consumption tax is much better than a tax on one's earnings.Tarheelman 1993https://www.blogger.com/profile/00150668738129124502noreply@blogger.comtag:blogger.com,1999:blog-6344655463026618501.post-6449747738965485122008-12-08T17:54:00.000-05:002008-12-08T17:54:00.000-05:00Thank you for posting this blog I found it very in...Thank you for posting this blog I found it very informative. Real estate may be down, but there is grants to bring it up. I was facing foreclosure, and found this. It might help you and your readers as well.<BR/><BR/><A HREF="http://foreclosuregrants.blogspot.com/" REL="nofollow">Foreclosure Grants Research</A>Anonymousnoreply@blogger.com