It's more than 7%.
I think our learned college grad means Social Security and Medicare Taxes total up to 7.65%.....known as "the payroll tax"
Give him a break, he doesn't have his Phd. yet.
It's more than 7%.
I think what top is talking about is SSI tax which ends at around 100K. Some ideas to solve the SSI problem is to create a donut where u pay up to 100k then nothing from 100k-200K or so then it kicks in again. I'm not totally against this but in exchange for an overhaul of this magnitude #1 SSI needs to be separated from the general funds, #2 those making money during SSI years should still get there benefit, #3 no more adjustments in terms of retirement age or payout. #4 It would have an END of life provision so that once the boomers die and the SSI fund is separated and funded the tax goes down... NO REDIRECTING MONEY
You wouldn't really get much out of the bottom 50%. Making literally everyone pay income taxes would mean that oftentimes you'd be spending more money on taxing them than you're getting back.
that's exactly what I'm talking about. If they stop it at the current 105,000 and then kick it back in at $250,000 that would be cool.
I think everyone should have to contribute if they make more then 20K or so. instances of people making up to 50K but not paying a dime is rediculous. Also whats up with people getting money back when they owe nothing in essence a governement handout.
You wouldn't really get much out of the bottom 50%. Making literally everyone pay income taxes would mean that oftentimes you'd be spending more money on taxing them than you're getting back.
You know I am really feeling pretty bitter today dropping tens of thousands into the mail to the federal treasury department for my 2009 tax.
The main thing is the fact that half of us households pay zero federal taxes while I am scrounging up money to send in. Every single person in this country should have to pay something. "Ask not what this country can do for you but what you can do for your country"?!?! what a fucking joke. People in this country talk out of one side of there mouths about the right thing to do free healthcare, increased military, blah blah blah.. Then pay no taxes? 50 fucking percent.... What a corrupt society we live in.
Seriously.. Who here thinks its right that 50% of households pay zero federal tax? Its a fucking joke. From this day on I will only vote for whom ever is going to cost me less money until they correct this gross unfairness.
Why? that makes no sense at all. Are they suddenly twice the expense to government because they made more money?
Fucking bullshit and totally unfair. They paid up the max and that should be it. Raise their income tax, not their SS taxes. Be the tax and spenders that you are, but don't hide your intentions. Be men about. Stupid men, albeit, b ut men none the less.
Cypress is not included in that summary