Banker/Wall Street Year-End Bonuses & The BEST Social Security Modernization Plan

Banker/Wall Street Year-End Bonuses & The BEST Social Security Modernization Plan

Some writers and groups have been speculating on what Bank & Wall Street Executives could or should do with their extravagant year-end bonuses. www.other98.com/end-the-banker-bonuses-this-holiday-season .

As part of its December 27, 2013 show, Democracy Now has a thoughtful discussion on this topic. One aspect of the DN discussion talked about the importance of closing “loopholes.” I agree. http://www.democracynow.org/2013/12/27/occupy_offshoot_urges_wall_street_to

Supporters of The BEST Social Security Modernization Plan view this a little differently. Once it is adopted, and short-term capital gains and rents are subject to paying the Social Security payroll tax and, accordingly, these earning are taxed by IRS rules as wage or ordinary income subject to those higher income tax rates, Wall Street year-end bonuses might become a little smaller and more frugally constructed. There might be even less dancing on the Wall Street executive boardroom tables!

The added revenues from the enactment into law of The BEST Social Security Modernization Plan will significantly contribute to a stronger, more solvent Social Security program and might even act to lower the nation’s debt and could even enable the availability of funds to repair the nation’s infrastructure which could even lower the currently unacceptable unemployment rate.  Dominoes - anyone?