SOCIAL SECURITY it appeals to the rich don't you think? (read details)?

Pretend you just bought 2 million worth or stock say 5 years ago in Exxon Mobile it would now be worth 4 million so you now have made 2 million if you sell you equity and if you did it's a profit so you don't have to pay ANY SOCIAL SECURITY becasue you didn't ACTIVELY participate in the income. Now pretend your like the 2 million people LITERALLY who work at wal-mart or the half million who work at Starbucks you will have to pay SS on your POOR PAYING JOB. Say you WORK HARD everyday trying to keep your family business alive STRIVING to make it well guess what your actively participating in your income so you have to pay Social Security. NOW PRETEND your rich and you own 3 FRANCHISE MCDONALDS and you have hired good managers at all 3, you love golfing in the warm whether so you spend all your days in Florida golfing getting the checks in the mail from Mcdonalds profits and you only check on them once a year. GUESS WHAT? No social security must be paid you didn't participate in it.

SOCIAL SECURITY it appeals to the rich don't you think? (read details)?
1. Half of all social security tax is paid by the employer not the employee. McDonalds and ExxonMobil are paying far more money into the social security system for their employees than any one employee is paying in social security taxes. That money is coming out of their profits. If you own millions of dollars of shares of ExxonMobil or own three McDonald's restaurants, then that is money that the business made and cannot give you in dividends, because the government took it. You are losing a lot more to the social security system than any one of employee is.





2. If you do not actively participate and therefore do not pay social security tax, then you also do not get any social security benefits. So, no, it does not appeal to them. They pay into it for their employees and they do not get to collect!
Reply:Rich people don't care about SS. The amount of SS tax paid is too small to think about if they are salaried.


Also rich don't care about SS income at retirement because the amount is small compared to income fro retirement/investments.
Reply:you bet ye it does, but we don't depend on it.
Reply:You are confused between the two types of income: (1) wages %26amp;, (2) investment income.





Social security tax is only paid on wages. If you have employees then you have to pay SS tax on each employee's wages. Clearly, if I own a business with lots of employees I am against social security becuase I don't want to pay SS tax on my worker's wages.





Among the wealthy in America, the vast amount of income they recieve comes from Investments which, again, are taxed at a much lower rate than the wages of someone who works in a McDonald's.





However, profits collected from stocks and the ownership of businesses, interst from bank accounts are Investment income and there is no social security tax paid upon such earnings. These monies are known a "capital gains" and "inveestment income" and are taxed at a small fraction of what wages are taxed at.





Rich business owners are against Social Security becuase they don't want to pay tax on thier worker's wages.
Reply:nobody should like social security, if they know what they are talking about. Rich people dont like it because they arent going to need that money when they retire. They would much rather have it now in their check so they could invest it and become more rich. Poor people should hate it because, while it may seem that they are getting help when they retire, its not that way at all. If they were able to have that money and properly invest it in stocks, mutual fund, bonds, or even a freaking CD they would come into retirement with a mess load of money. The govt. doesnt invest the money they take from you, they just give it to the people that are retired right now. If you could take that $2500 (average amount) they take from you yearly, and make a measely 5% a year on it. You come out with $239,590 after 35 years. Now if you could make 11% on it, you would have $950,411. Thats basically a million bucks. Also, the money they give back to you, has become a victim of inflation. So its worth much less after all those years.





So tell me which would you rather have SS or no SS. I think the answer is the same for rich and poor.