Replies to post #17152 on Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

It works both ways. "Professional" traders pay into the system (social security) and are covered by it, non-professionals do not pay in and are not covered. Being self-employed, I can tell you, many tax years I pay more to social security than I do in income taxes. Just hope I live long enough to collect some of it back, and that there's still some money left in the system by then!
Newly

[Newly2b]

Brightness, you say "As for the issue of Social Security, once again, people who derive their income solely from stock trading are not even covered under Social Security benefits (under current tax code, capital gain is not "earned income" regardless how much work is done in analysing stocks) why should they be forced to pay into a self-help system that doesn't help them at all?"

One is NOT forced to pay into social security when one is not covered by it! One may elect to designate oneself a "Professional" trader and pay into the system (social security) and is then covered by it. As a non-professional one does not pay in and is not covered. Being self-employed, I can tell you, many tax years I pay more to social security than I do in income taxes. Just hope I live long enough to collect some of it back, and that there's still some money left in the system by then!
Newly