Monday, March 07, 2005
Don't get your feathers ruffled just yet
Tax Cuts Lose Spot On GOP Agenda - But it doesn't matter because they won't expire til 2010 anyways. So everyone will have four more years of nice refunds (or lower bills) before all hell breaks loose. My advice - invest your refund smartly, you might need it. There's also a comment at the end about raising the S.S. income cap to $140K, causing many people to pay up to $3000 more each year ($6000 if they're self-employed). It's a temporary fix, if they raise benefits when those people retire to compensate for the additional amount they've paid into the system. Or it's forced government charity if they're still only getting the benefits of someone who made $90K. Either way, it's a drop in the bucket, and I think part of the problem is that the government wants to "fix" social security or "fix" the deficit while only looking at these issues in a vacuum. What they're either failing to realize, or not saying, is that all these components are part of a living, breathing system and that you can't fix one without overhauling the entire beast. The only way this country is going to survive financially into the next century is if we take a long, hard look at the entire government. And frankly, I'd rather pay a couple extra bucks in taxes now than pay $45 for a gallon of milk 30 years from now.