|
MissLucrecia -> RE: Obama supports higher Social Security tax (11/12/2007 6:05:21 PM)
|
Actually the social security wage base is a little over 90k as it is. Soon there will be no limit as every year the wage base goes up about $3000.00 at minimum. The limit on Medicare tax (1.45%) used to be 145k back in the early 90's. Truely as it stands the rich folk are already paying the bulk of the social security and their employers are matching it. For those of you that don't know, FICA is broken down to social security at 6.2% of taxable gross and medicare is 1.45% which give us the 7.65% we've all been subjected to since our first jobs.
Here is another train of thought: How long will small businesses stay in business if their employer taxes continue to raise? What will that do to our cost of living? If employer costs rise too high, they are forced to raise their prices, CUT JOBS, or go out of business.
Now I don't know but it seems to me that if an employer has to cut jobs due to increasing taxes, doesn't that lower the taxable wages he is responsible for and therefore lowers the amount of tax actually given to the government?
It's quite headspinning, we could go round and round but the truth is, the more we allow the government to have our money, the more they control our lives and impose THEIR values on us. Liberal society isn't really liberal at all. I say no more taxes. I don't care if some politician's girlfriend has to drive a Hundai instead of a Jaguar! Put her butt on the freakin' buss! Better yet, make her walk!
|
|
|
|
