Kevin Colby: News, culture, political blog

Obama was in Pennsylvania and here is some of his key points and my comments are below each point he makes:

* $1,000 tax cut for most working families
What does he mean by most families? Are we talking a certain total household income or people living at or below poverty level?

* Social Security tax on incomes above $250,000
Rob from the rich and give to the poor. This guy thinks he’s Robin Hood of Sherwood Forest in Nottinghamshire! This is the real world brotha, just tell the American people the truth that there is no money left in Social Security.

* A “windfall profits” tax on oil companies.
Go ahead jackass, keep taxing major corporations and there will be no corporations left here to tax. This country runs on and needs corporate America, we can’t keep penalizing companies for making profits. Just remember, the people that make the money off the profits are the shareholders, people that have IRA’s and Mutual Funds, people like me and you.

* A $4,000 annual college tuition credit for those who commit to national or community service programs
Where the hell is he going to get the money for this? Oh yeah, I forgot, he’s Robin Hood.

* And an end to income taxes for elderly people making less than $50,000 a year.
No, this is not going to fly with me because we already have the so called “less fortunate” who don’t pay tax. People nowadays are healthier and living longer, just because your old, doesn’t mean you get a break either. Maybe we could give you a free bottle of Geritol.

Then this one is the kicker because I had mentioned this in a previous blog that I posted several days ago, he must have someone visiting my site. Here is what he said taken exactly from the article:

He said employers should be required to set up retirement saving plans for workers even if they contribute no money to them. Workers would automatically be enrolled unless they choose to opt out, he said. That way, he said, “most people will save more.”

Here was my idea:

Anyways, the way that private Social Security would work is that the Government would force employers to offer basically almost a 401k type plan where you are forced to put a certain percentage of income into this retirement account, you pick what you want to invest in and that’s it, the money is YOURS! It doesn’t go into a big pot, where everyone is putting their grubby hands into. I have plenty of links for you to check out and they all have great information.

Here is the link to the my entire blog about Social Security. Link.

But I still have another idea for Social Security. What if we had a choice with our employers. We could elect to either have Social Security taken out or if we choose to have a type of 401k option, we wouldn’t have to pay Social Security tax because we would be funding our own retirement or if you are afraid of getting involved with the stock market then you could elect to have a high yield savings account to put money into and still be exempt from having to pay Social Security tax.

If we went to something like this and your saying to yourself “Well I’m 32 years old and I’ve been working since I was 14 and I want to choose the high yield savings account to put my money into then what happens to the Social Security tax that I’ve paid into?”. Well, you would get what you deserve, obviously you wouldn’t get the full amount that you would have received if you did keep paying into social security until age 65, but you would get compensated whatever the difference is.

Support The Fair Tax Act, it would be a lot easier just to have one flat tax rate for EVERYONE! Link.

Here is the full story about Obama’s visit to Pennsylvania. Link.

Related Posts

• We need social security reform
• Obama wants to tax the wealthy, again
• Social Security benefits will overwhelm the national debt for the next 20 years
• The truth about oil profits
• More on Obama’s Social Security policy

Tags: college tuition, income tax, robin hood, Social Security, tax, the fair tax act, windfall profits tax