Friday, July 23, 2010

more silliness and silence from Blue Indiana on Social Security

Nice alliteration in the title, huh? ;-)

Blue Indiana is pounding Todd Young some more for failing to elaborate on his Social Security position. But as I noted in a recent post, it's odd that Baron Hill would support Social Security.

In that post, I focused on SS's lousy rate-of-return. But I forgot to mention the oppressive taxes which finance the lousy rates-of-return. SS takes 12.4% of every dollar earned by the working poor and middle class-- no deductions, no exemptions. If you're working with an income at the poverty line, you lose about $2,500 to the payroll/FICA tax which finances SS. If you're earning $45,000, you lose more than $5,000!

I understand why "yellow dog" Dems and other partisan hacks would be uninterested in this question. But that's not the sort of policies you'd expect to see supported by thinking Democrats, liberals, &/or progressives.


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