Opt-Out of the System
- Thread starter lx43
- Start date
I'm self employed. I don't make enough to pay federal taxes, so I don't pay into SS and don't expect to get a cent out of it. I'm effectively opted out. I suppose I would qualify for a small benefit being that I make over the 4,000 threshold to earn credits, if the system is solvent in 25 years when I would collect.
Last edited:
Keith and stuff
Member
- Joined
- Feb 17, 2009
- Messages
- 10,554
I am not self-employed so I never bothered to look into it. Feel free to call into FTL and ask about it. The show is on the air 7 days a week, 3 hours a day.
http://www.freetalklive.com/
When the IRS Gestapo discovers he isn't paying taxes he will surely go to jail; I surely wouldn't be advertising that he isn't paying taxes.
alex_florida
Member
- Joined
- May 22, 2010
- Messages
- 142
Why do not repeal Income Tax and abolish IRS?
Why capital gain only? Why do not fully repeal Income Tax and abolish IRS? They cause huge moral hazard and let Government treat you worse than they treated medieval serfs. I understand that this is a transitional plan but why not to show clear intention and the path to do it even if not within the first year and term. At least, within the first term the process could be launched, and then to continue with repealing the 16th ammendment to get rid of Income tax and IRS forever and guarantee the irreversibility... I frustrated...
Why capital gain only? Why do not fully repeal Income Tax and abolish IRS? They cause huge moral hazard and let Government treat you worse than they treated medieval serfs. I understand that this is a transitional plan but why not to show clear intention and the path to do it even if not within the first year and term. At least, within the first term the process could be launched, and then to continue with repealing the 16th ammendment to get rid of Income tax and IRS forever and guarantee the irreversibility... I frustrated...
Last edited:
Philosophy_of_Politics
Member
- Joined
- Sep 14, 2011
- Messages
- 2,075
I think there's a fundamental reason for this. You all have invested into Social Security for years, and allowing people to Opt-Out might cause a mass evacuation from Social Security. Some variables to consider:
1) Government would be required to pay back all that money to fast, and it would need get Fed. Reserve loans in order to pay it back (we're in the negatives remember?)
2) Would have to appoint people to handle the massive spike of citizens that would opt-out.
1) Government would be required to pay back all that money to fast, and it would need get Fed. Reserve loans in order to pay it back (we're in the negatives remember?)
2) Would have to appoint people to handle the massive spike of citizens that would opt-out.
Elwar
Member
- Joined
- May 14, 2007
- Messages
- 8,226
He did respond to the 25+ crowd saying that he would like to eventually move the age up but that it would take time.
Basically saying that he is able to make his plan work right now with the 25 and younger cut off but that it is likely not economically feasible to let everyone opt out and still pay welfare to seniors at the same time.
He also said he would like to end the income tax but that he needs to work on things that can be done first.
Low hanging fruit and all...
Basically saying that he is able to make his plan work right now with the 25 and younger cut off but that it is likely not economically feasible to let everyone opt out and still pay welfare to seniors at the same time.
He also said he would like to end the income tax but that he needs to work on things that can be done first.
Low hanging fruit and all...
Similar threads
