The 1 Percent “Work” Harder? – Support For The BEST Social
Security Mod Plan!
As recently reported
by the Huffington Post, http://www.huffingtonpost.com/2014/02/05/sam-zell-1-percent_n_4733196.html
Sam Zell defended recent comments by Tom Perkins and was quoted as saying, "The
1 percent work harder. The 1 percent are much bigger factors in all forms of
our society."
In addition to proposing a three tier Social Security
payroll tax rate, one of the basic tenets of the BEST Social Security
Modernization Plan is eliminating the loophole found in Section
211 (a) 1, 2, & 3 of the Social Security Act which excepts rental income,
dividends and capital gains from paying the otherwise compulsory Social Security
payroll and self employment taxes.
So what did Mr. Zell
say? He said the 1 percent “work,”
and they “work harder.”
Certainly one can also make the case that many if not most
of the 99 percent work very, equally hard, but I certainly agree that the 1
percent “work.”
Some workers work using their physical skills. Others work
using their mental abilities. Others work using a combination of physical and
mental skills. However, the 1 percent’s preferred mode of work is using their
wealth to work and this work should be subject to paying the 6.2%/12.4% Social
Security payroll/self-employment taxes and that once, this form of “Zell
defined work” is defined as work, as wages, as self-employment income, this
income should be subject to paying federal income taxes at the same tax rates
that every working man pays their income taxes.
Thank you, Mr. Zell for justifying and buying into the BEST
Social Security Modernization Plan.
Now, if we can only get Congress and President Obama to see
the light and support the BEST Mod Plan.
It’s a no brainer! Or is that is the etiology of the
problematic resistance?
