tag:blogger.com,1999:blog-822996239322190007.post4542744795455094320..comments2008-11-04T08:35:47.147-08:00Comments on KJBotticelli: Market CommentaryKJBotticellihttp://www.blogger.com/profile/15803957568378446598noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-822996239322190007.post-617773682265761672008-09-06T10:16:00.000-07:002008-09-06T10:16:00.000-07:00Obama also said McCain wants to privatize a portio...Obama also said McCain wants to privatize a portion of Social Security. McCain has praised the notion of letting younger workers place a portion of their Social Security taxes into a package that is invested and follows them to retirement, but he has not made it a campaign promise.<BR/><BR/>All workers pay Social Security payroll taxes on the first $102,000 of their annual income. The money pays for benefits for current retirees and for other government programs. Analysts say the program will begin running short of funds in a few decades if it is not changed.<BR/><BR/>Obama cited his proposals to place a new Social Security payroll tax on incomes above $250,000 and to eliminate federal income taxes for older people making less than $50,000 a year. He also said he would "allow the government to negotiate with drug companies to lower costs for seniors, and we'll allow reimportation of drugs from other countries and ensure their safety."KJBotticellihttps://www.blogger.com/profile/15803957568378446598noreply@blogger.com