Thursday, January 20, 2011
Ben Stein: Raise taxes now, and don't pay rich people social security "entitlement" benefits
Ben Stein went on a verbal “rampage” tonight on Elliot Spitzer on CNN, about the need for higher taxes and that rich people should pay them. And he said he was a Republican – and that almost the entire Wall Street crowd comprises Democrats.
He said that it was ridiculous for wealthy seniors to receive social security benefits at all. There’s no reason for someone who didn’t get his hands dirty in a coal mine to get the same sort of entitlement. (So much for Homer Hickum.)
If you're going to do means testing, do you do it on income, or total assets? Does liquidity matter?
My gripe has always been, if you want to redistribute wealth, at least admit you’re doing it. Don’t have FICA set up as an annuity premium, just blend it in with general progressive taxation.
But, of course, a totally privatized system would be outside taxation altogether.