Fact of the Day: The Social Security Wage Cap For 2014 Is $117,000

In a “Fact of the Day” article last November, I wrote that, “eliminating the [Social Security] wage cap while keeping the benefits cap produces a Social Security surplus.” But you don’t have to take my word for it as this is a fact backed up by the Congressional Research Service. But it’s also just common sense. If you lift the revenue limiter (the wage cap) but you pay out the same benefits, obviously Social Security will be solvent for some time to come.

• • •

DOMA: The Indefensible Defense Of Marriage Act

Signed into law in 1996, the Defense of Marriage Act (DOMA) defines marriage as between a man and a woman for the purpose of restricting federal marriage benefits to heterosexual marriages only. But what exactly does DOMA defend? I mean, the very name of this act implies a profound protection of the institution of marriage, so it must make great strides to defend the institution.

• • •

Walmart Is The Corporate Embodiment Of America’s Growing Inequality

I have a secret to reveal. I used to regularly shop at Walmart. I live in the outer stretches of Philadelphia’s western suburbs, and Walmart happened to be the closest place to go food shopping. I was never enthusiastic about shopping at Walmart, and as my social and political views evolved, I grew even more uneasy with contributing my money to a company in opposition to my values. So nearly three years ago I stopped food shopping at Walmart, and in fact, I don’t think I’ve stepped foot inside a Walmart since then.

• • •

Fact of the Day: The Social Security Wage Cap For 2013 Is $113,700

What is the Social Security “wage cap”? It’s the maximum income level taxed at the 6.2% rate for Social Security benefits. All income above the cap ($113,700 in 2013) is free and clear of Social Security (payroll) taxes. Yes, you read that correctly. All income above the wage cap is exempt from Social Security tax. It’s safe to say this is quite a regressive tax.

• • •

You are poor because you aren’t working hard enough

Yeah, I said it. You are poor because you aren’t working hard enough. You find yourself in poverty because you lack the work ethic of the rich and successful. You are a freeloader if you are on food stamps or unemployment insurance. Why don’t you get off your ass and find yourself a job already? I’m tired of your whining. I’m tired of my tax dollars being used to support your sorry ass. Stop being a drain on society and make something of yourself. You live in America, home of the American dream. If you aren’t wealthy, you only have yourself to blame.

• • •

Affordable Care Act: Women’s preventive health services begin August 1, 2012

Starting tomorrow a long list of preventive health benefits for women kicks in as part of the Affordable Care Act (Obamacare). Senator Barbara Boxer (D-CA) provided a rebuke of Republican minority leader Mitch McConnell’s (R-KY) call for a vote to repeal Obamacare. In her response she listed the women’s preventative benefits that will go into effect on August 1, 2012:

• • •