On Thu, 27 Nov 2008 12:14:43 -0800, Jeff Strickland wrote:
> "Mason C" <masoncXXX@[EMAIL PROTECTED]
> wrote in message
> news:bksti49nnis6irsd2jl4befrdgsb7clec9@[EMAIL PROTECTED]
>> On Thu, 27 Nov 2008 10:23:43 -0800, "Jeff Strickland"
>> <crwlr@[EMAIL PROTECTED]
> wrote:
>>
>>
>>>"Mason C" <masoncXXX@[EMAIL PROTECTED]
> wrote in message
>>>news:2gfki4pprbu5uvhq5685sqj8cjs7a3562s@[EMAIL PROTECTED]
>>>> On Sun, 23 Nov 2008 17:20:14 -0800, "Jeff Strickland"
>>>> <crwlr@[EMAIL PROTECTED]
>
>>>> wrote:
>>>>
>>>>
>>>>>FICA is a tax on wages.
>>>>>
>>>> Oh. We didn't know that.
>>>>
>>>> Jeff, I have a question: how old are you?
>>>>
>>>>
>>>>
>>>55. Why?
>>
>> I'm sorry to say so but your assumptions about the world seem juvenile.
>>
>> ( I don't like to post such things but I'm getting fed up with the
>> infantile behavior on the Usenet. I've been kill-filing like crazy and
>> it isn't helping. I'll probably abandon ****p.)
>>
>>
>>
>>
> Just because I find your view wrong means I'm juvenile?
>
> I understand that dropping the collection of FICA tax will put more cash
> into the hands of the little people -- me included -- but my point is
> that FICA is akin to forcing Americans to save money for their
> retirement. If we give them a bye on saving, then they get less in
> retirement, and SS is already a pretty crappy retirement account, so
> stopping the collection of FICA taxes will do more harm than good.
Imagine for one fleeting moment that the money to pay current benefits
was not being collected from FICA taxes but instead just created and sent
out. Your pre-programmed reaction is Martha, hide the children because
the inflation monster is going to eat them. Money will be worthless
because we will have hyperinflation.
So now ask yourself what happens if we do half of it? Then 25% of it, or
10% of it. How much inflation do we get?
This _MAY_ help you to understand that the rich people are called rich
because they have all the money. The objective is to make all that money
worth _LESS_ such that honest production is worth _MORE_. The objective
is to make real investing the only way that the rich people can stay
rich. The Stock market will no implode because of inflation. The value
of T-Bills will.
Pleas take the time to understand that moderate to high inflation hurts
people who _HAVE_ money. It works to the advantage of people who work
for wages and who OWE money.
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