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Raising taxes on the middle class = Helping the rich creates jobs.
Also:
Not paying our country's debt = creating jobs.
Taking away people's healthcare = creating jobs.
Blocking Obama's fiscal policy = creating jobs.
Watching lots of Chuck Norris movies = creating jobs.
Praying to God ten times a day = creating jobs.
Duh!!
The payroll tax reduction was never intended to extend beyond 2011. If you want a new law to continue the reduction, get one passed. While you're at it, find a way to replace the lost revenue which will reduce the amount of time it takes to bankrupt Social Security.
"A new social security withholding rate became effective for pay issued on or after January 1, 2011. The new rate for 2011 is 4.2%, a 2% reduction from the 6.2% rate for 2010. The reduction applies to only the employee-portion of social security tax withholding for 2011."
Everyone would pay the same 6.2% rate on the same income scale.
that's a blatant lie. People who make $50k a year are not on the same income scale as people who make $450k/year, since there is a cap at $106k.
"benefits are capped", but it's irrelevant since social security is a form of welfare --- middle income taxpayers are being forced to support the welfare system on a larger scale than higher income taxpayers.
We need to apply the FICA tax to ALL income from wages, bonuses and stock options as well a cap the distributions to incomes under the 70th percentile. Then Social Security will work as a low level pension as well as an insurance system.
That would uncap the benefits, and that would be even MORE financially disastrous for SS.
that's a blatant lie. People who make $50k a year are not on the same income scale as people who make $450k/year.
Yes indeed, they are on the exact same premium/benefit SS plan. They both pay exactly the same rate on their tax-eligible income and will receive EXACTLY the same corresponding benefit.
I'm getting the idea that some of you have NO IDEA how SS works.
Correct - everyone pays the same for the same benefit.
THat is, the same Dollar Amount.
A person making 50K pays approx. $1500
A person making 106 K pays $3100.
Both pay 6.2%.
HOWEVER - a person making 212K still pays $3100 - 3.1%
A person making 424K pays $3100 - 1.5%
A person making 1 million pays $3100 - 0.3%.
And those whose income is derived from investments pay nothing from the payroll tax.
So clearly, the wealthy pay a much smaller percent of their income in this tax.
Thus that 2% raise is a tax increase that affects the working classes, and only minimally affects the wealthy. And this creates jobs how?
Yes indeed, they are on the exact same premium/benefit SS plan. They both pay exactly the same rate on their tax-eligible income and will receive EXACTLY the same corresponding benefit.
I'm getting the idea that some of you have NO IDEA how SS works.
They do not get "the same corresponding benefit." People who put the least in, get the most out.
There is a clear redistribution of wealth going on, and it is forced --- and Republicans want to spare people who make over $100k/year from having to support that burden, by exempting their income from this system that so few people want to be a part of.
You're lying to yourself and everyone in here by pretending that social security pays out what you put into it.
We need to apply the FICA tax to ALL income from wages, bonuses and stock options as well a cap the distributions to incomes under the 70th percentile. Then Social Security will work as a low level pension as well as an insurance system.
No way would the GOP and their owners go along with this idea.
Correct - everyone pays the same for the same benefit.
THat is, the same Dollar Amount.
A person making 50K pays approx. $1500
A person making 106 K pays $3100.
Both pay 6.2%.
HOWEVER - a person making 212K still pays $3100 - 3.1%
A person making 424K pays $3100 - 1.5%
A person making 1 million pays $3100 - 0.3%.
And those whose income is derived from investments pay nothing from the payroll tax.
So clearly, the wealthy pay a much smaller percent of their income in this tax.
And receive a correspondingly CAPPED benefit. Everyonepays the same rate for the same corresponding CAPPED benefit.
What about that are you all not getting?
Quote:
Thus that 2% raise is a tax increase that affects the working classes, and only minimally affects the wealthy.
As I just explained, it affects everyone equally. Everyone pays the same price for the same thing. What a concept.
that's a blatant lie. People who make $50k a year are not on the same income scale as people who make $450k/year, since there is a cap at $106k.
you can claim all you want that "benefits are capped", but social security is a form of welfare --- middle income taxpayers are being forced to support the welfare system on a larger scale than higher income taxpayers.
Who pays for all the rest of the "welfare" programs other than soc security? Or do those not count?
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