Social Security
The Social Security system has changed
a lot since its inception in 1935. It was originally intended to
give people at 65, the age of retirement, some money to help with
retirement expenses. No longer would old people be forced either to
work far beyond 65 or forced into destitution. However, in the 77
years the program has changed to a catch-all social welfare system
which now sends money to survivors, i.e. widows and minor children,
and pays those who have suffered some permanent injury or disability
that prevents them from working. The eligibility and size of the
disability benefit is determined by the amount of Social Security
benefits the worker has accrued. Social Security also includes
Supplemental Security Income (SSI) for non-workers and children who
have a permanent disability, i.e. blindness, mental problems,
paralysis. SSI is means-tested, thus someone with a major disability
and low income might receive the maximum benefit for the rest of
their lives.
All this is funded by a tax on workers
and employers based on the total wages of the worker. It is about
4%, which is shared paid equally by the worker and the employer.
Thus, this system supports a very
large social welfare program, from which all society benefits, that
is, our society does not have the lame, the halt and the blind
begging on street corners, as was the case in the late nineteenth
century. For a look at the ravages of sickness, accident, and
unemployment wrought on nineteenth century socity, take a look at
Wisconsin Death Trip, a
compilation of newspaper clippings from Wisconsin newspapers from
1880 to 1900. It is stark and riveting.
However,
the amount beyond which an individual does not have to pay FICA has
been fixed at $110,100 (2012). Thus the very wealthy do not pay for
the programs mentioned above; this burden is left on those below that
income level. It's a very nice perk for the wealthy. They have the
benefit of a functioning society that takes care of the sick and the
disabled without paying for it.
Shouldn't
we abolish this income requirement and tax the wealth above $110,100
to keep these program solvent?
Lastly,
by a Supreme Court decision of 1879 corporations are deemed to be
deathless legal persons who thus are completely protected by the Bill
of Rights and all other laws pertaining to individual responsibility.
They can be sued, pay fines, and sue others as any other individual.
Therefore, shouldn't they have to pay Social Security taxes like
anyone else?
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