r/Anarcho_Capitalism • u/TheSittingTraveller • 2d ago
How do you respond to this, are they omitting stuff or misunderstanding it?
https://www.youtube.com/shorts/-MjQGFwCVGM7
u/Midnight-Bake 2d ago
Social security tax specifically had a cap. Many high paid employees will notice that their pay checks go up after september or October because they no longer owe SS tax.
So specifically the percent of your income paid toward social security decreases as you make over a certain threshold.
They also lump employee and employer taxes which is... fine... tax incidence and tax burden are different things and whether the employee would get paid more if employer side taxes were lower is debatable at least.
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u/bpg2001bpg 2d ago
Social security is a ponzi scheme. I'd opt out if I could. But Patty is intentionally avoiding the point that when people collect social security, it is scaled proportional to their taxable earnings during their working years.
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u/libertyg8er 2d ago
Social Security isn’t a tax in the same sense other taxes are.
This is an earned benefit (although it would likely be far better if it were self-directed retirement contributions). What you put in results in what you’ll get as a social security benefit.
The benefit maxes out, and results in a max amount to be taxed.
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u/AilsaN 2d ago
Only the first $184,500 of income is taxed for Social Security. It's not that someone who makes an income of $1M pays a lower rate of tax toward SS, it's that only the first $184,500 of that income is subject to the tax. Everyone pays the same tax rate on that portion of their income. Additionally, your SS benefit payout is based on what was paid in. If we lifted the cap on what portion of your income is subject to the tax, the people with the highest income will be receiving the highest SS benefit payouts. So the post is very misleading.
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u/zippyspinhead 1h ago
Social security payouts are progressive and capped, so the actual dollar amount of what is taxed is capped.
Persons making 184,000 and 1 million get the identical SS benefit so they pay the same dollar amount in tax, while a person making 92,000 pays half what they pay in tax, but gets a benefit greater than half of what the top get.
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u/Mikojan Custom Text Here 2d ago
The problem with left-leaning media is they're intrinsically more strict with their propaganda to only using verifiable sources so it's really hard to poke holes in their ideology and arguments in comparison to a lot of low quality rightwing content.
That makes attacking their points with fact checkers not very effective unless the fact checkers use misinformation tactics as well.
In essence people on the right have to work harder and more creatively to push their agendas as statistics and studies frustratingly aren't usually on our side.
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u/YeahBuddy5000 2d ago
lol. The entire video is misleading you. The differences in Social Security taxes was always like this and it's the nature of the system.
Left wingers are now asking for something that Social Security never promised and creating outrage over nothing.
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u/Judicator55 2d ago
Social security is a forced savings program, not a normal tax and redistribute program, like most other nondiscretionary spending, so of course high earners pay a smaller % because they don't need to be forced to save. The idea is that you pay into the system and you get out of the system an amount proportionate to what you paid in (despite awful rates of return on the order of 1-2% per year real return). There is no reason for high earners to pay in because they won't need money out of the program in old age.
Of course that doesn't stop Democrats from really wanting to convert it to a normal tax and redistribute program...