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Comment by Empact | Hacker News Reader

Should we really be taxing young people more when those young people are not propagating due to high housing costs, etc?

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Social Security only applies to the first ~$176k of your income (inflation adjusted annually). What percentage of young people are at that income level? This is not young vs old, but the median vs the very wealthy.

https://www.ssa.gov/benefits/retirement/planner/maxtax.html

> Social Security only applies to the first ~$176k of your income. What percentage of young people are at that income level

I think they’re saying most young people make less than $176k.

No, but that's the whole point of progressive taxation. The old and wealthy who voted us into this mess should be the ones to pay for the solution.

We should directly address high housing costs by allowing housing to be built.

17-20% fewer construction workers: Great Recession's lasting scar on housing - https://news.ycombinator.com/item?id=43269017

Insurance and Taxes Now Cost More Than Mortgages for Many Homeowners - https://news.ycombinator.com/item?id=42499267

It's the land, stupid: How the homebuilder cartel drives high housing prices - https://news.ycombinator.com/item?id=41259229

Like retirement savings, there is no will to directly address this problem.

Intentional or not, this is a bad misdirection. Young people do not have enough income to tax. Those making half a million or more can bear a sharp increase in their tax burden.

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