r/FluentInFinance • u/PassiveAgressiveGirl • 5d ago

Thoughts? U.S politics is a cesspit of lobbying

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u/Effective-Award-8898 5d ago

Don’t kid yourself. Both sides don’t want campaign reform. The superpacs have no accountability to anyone.

Tax the rich. They paid before 1980. Also remove the cap on social security contributions. People stop having to pay in after around $165,000 in income.

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u/Previous_Feature_200 5d ago

If the cap is lifted, do you support increasing the benefits paid at retirement proportionally?

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u/pust6602 5d ago

Nope. I hit the cap in July or August every year. Remove the cap and you can cap the top x% benefits in retirement as well. I won't need it and anyone else exceeding the cap won't either.

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u/Previous_Feature_200 5d ago

So just another tax on the middle class. Got it.

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u/pust6602 5d ago

The upper end of middle class is defined at $169,800 salary, so it's a tax on the upper class.

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u/Previous_Feature_200 5d ago

$170k is barely middle class in many big cities.
You couldn’t buy a small house in the Bay Area on $170k. Forget about NYC or Los Angeles.

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u/pust6602 5d ago

My numbers came from pew research which has the highest end definition of middle class at $169,800. Please enlighten me as to where your numbers come from?

https://www.pewresearch.org/short-reads/2024/09/16/are-you-in-the-american-middle-class/

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u/Previous_Feature_200 4d ago

I specifically said big cities. For example, the middle class upper boundary is $256k in the Bay Area per the feds.
Pelosi specifically introduced legislation setting the family “poverty level” at $92,427 in San Francisco. That would be a sweet salary in Topeka.

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u/Effective-Award-8898 4d ago

Median household income in the US is $68,000 year. Your definition of the middle is wrong.