From: owner-joni-digest@smoe.org (JMDL Digest) To: joni-digest@smoe.org Subject: JMDL Digest V2012 #1253 Reply-To: joni@smoe.org Sender: owner-joni-digest@smoe.org Errors-To: owner-joni-digest@smoe.org Precedence: bulk Unsubscribe:mailto:joni-digest-request@smoe.org?body=unsubscribe Website:http://jonimitchell.com JMDL Digest Thursday, August 30 2012 Volume 2012 : Number 1253 ========== TOPICS and authors in this Digest: -------- Tax burden, was "For" songs, njc now ["Jim L'Hommedieu" Subject: Tax burden, was "For" songs, njc now Thanks for this tutorial. I read it carefully and learned some interesting stuff. I like the NJC stuff as much as the JC. Jim L'Hommedieu From: "Robert Sartorius" Bobsart said in part, Now for some (additional) non-joni content (if you don't want any, skip from here on). PS - in addition, the top 50% (who pay all of the federal income taxes), by virtue thereof also pay for roughly 75% of Medicare Part B. (For those of you who do not know it, Part B is financed roughly 25% via premiums, and 75% via general revenues - which means FIT plus borrowing - which, by the way, will be paid off by the children of the rich). In addition, the higher earners among the top 50%, when they retire, will get to pay higher Part B premiums (ranging from 35% to 80% of the cost of the Part B program) as a thank you for having over-contributed toward the Part B program over many years, so that the people who have contributed nothing over the years to Part B (because they paid no FIT) can get their part B benefits with premiums that cover only 25% of the cost of the Part B insurance. I don't really mind the taxes and the extra premiums - I just mind the attitude that says "FU - you don't pay enough (er - "your fair share")". PPS - means testing for Part A is part of the new Republican financing solution for saving Medicare Part A (and yes, I oppose it), so don't all you fiscal liberals and Democrats go all rogue on me over this issue (I happen to be an independent). Besides, I'm an actuary, and actually understand this stuff. There are fairer ways to fix this (all of which will cost extra money, and will require limiting plaintiffs' bar, while we're at it), but not enough space to go into it here. PPPS - it is a sophistry to suggest that certain low income earners are paying for rich retirees' Medicare Part A with their payroll taxes. What the low earners are doing is making a token contribution to a system that they will benefit from by multiples of what they have put into it when they turn 65, at which time the large majority (80+%) of their Medicare benefits will be paid for by rich people. If you prefer, think of 100% of the Medicare benefits for the rich retirees as being paid for by the rich workers, which still leaves plenty of the rich workers' taxes left over to pay for poor retirees. This, while the puny taxes paid by low wage earners make a relatively small dent in the benefits being paid to low income retirees. - ------------------------------ ------------------------------ End of JMDL Digest V2012 #1253 ****************************** ------- To post messages to the list, sendtojoni@smoe.org. Unsubscribe by clicking here: mailto:joni-digest-request@smoe.org?body=unsubscribe -------