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POPSObama Turns FDR Upside Down assuming the same life expectancy. But the principle remains that as workers’ wages rise so do the taxes they pay, and so do the benefits they will get from the system. Although the formula connecting benefits to tax payments or “contributions” has evolved slightly over time, it still adheres to this basic message. Today, what Social Security terms a “low-wage” worker will pay (in present value terms) $77,197 over his or her lifetime and get $112,261 in benefits. A median-wage worker earning $42,000 will pay $171,550 and get back $187,085. A “high-wage” worker making $67,000 will pay $274,480 and get back $245,085. Sen. Obama would do away with this principle by requiring higher-end workers to pay taxes without getting any extra benefits linked to their higher contributions. This would be a big step toward turning Social Security from a contributory pension scheme into just another welfare program.
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POPSA Conservative Crisis Of Followership: David Frum
So, 2008 is not 1988. The problems are different and so must the solutions be. The Reagan themes do not carry the power they once did. The conservative voting majority is not a majority any more. To compete and win this year Republicans have to adapt and change, not revert and revive. The country has changed since 1988. Polls capture a shift to the left on economic issues. The once decisive tax issue has faded altogether, and no wonder: 80 per cent of Americans now pay more in payroll taxes than in federal income taxes. Americans care less about taxes than healthcare and fuel prices, issues where Republicans offer few solutions and speak with something less than passionate urgency. Americans are expressing a new pessimism about upward mobility and their children’s chances of leading a better life – an understandable reaction to the stagnation of median wages since 2000. Even on the signature issue of the war on terror, Americans are turning away from Republican ideas.
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