America’s presumably anti-tax party wants to raise your taxes. Come January, the Republicans plan to raise the taxes of anyone who earns $50,000 a year by $1,000, and anyone who makes $100,000 by $2,000.
Their tax hike doesn’t apply to income from investments. It doesn’t apply to any wage income in excess of $106,800 a year. It’s the payroll tax that they want to raise — to 6.2 percent from 4.2 percent of your paycheck, a level established for one year in December’s budget deal at Democrats’ insistence. Unlike the capital gains tax, or the low tax rates for the rich included in the Bush tax cuts, or the carried interest tax for hedge fund operators (which is just 15 percent), the payroll tax chiefly hits the middle class and the working poor.
In both debt plans, the wealthy win.
And when taxes come chiefly from the middle class and the poor, all those anti-tax right-wingers have no problem raising them.
You can hear the surprise in *MY* voice.... Putting any additional disposable income in the hands of the "masses" instead of the wealthy--(oh, sorry..."The Job Creators")--simply must not be allowed.
SS is a basically a very poorly run "retirement/disability insurance" plan for the middle/lower class. We should have never given a "payroll tax holiday" in the first place, since it did nothing for unemployment. It should expire because every single worker pays into it, and the $$ will be needed to go back to these same people (unless they are younger people, then they are just out of luck)
Too bad future generations aren't here to see all the great things we are spending their $$ on!!
Unfunded pension plans all over the country are being exposed and now the Republicans are being attacked for trying to make Social Security last a couple years longer.
:VeryScared: Actually it does seem the GOP is contradicting themselves: "Never raise taxes in a recession, unless they are SS taxes!"
Thomas Sowell: There are no solutions, just trade-offs.
LadyJazzer wrote: Yes..."Every single worker DOES pay into it"...including the 48% that the Right loves to say "pays no Federal Income Tax"... Hmmmmm.....
????? SS isn't federal income tax. It is social security/medicare tax. Was supposed to be a completely separate thing. You are basically paying for insurance for future retirement/disability. Those who say it, would be correct.
If you want to help unemployment, drop the employer's side, not the employees side. Or better yet, make it all paid by the employee, and that way people see how much they are really paying for such a horrible plan.
Too bad future generations aren't here to see all the great things we are spending their $$ on!!
More Dog droppings. The reality of the situation is that everyone would be subject to the tax increase, including those evil rich folks that are the continuing subject of the regressive class warfare strategy.
PrintSmith wrote: More Dog droppings. The reality of the situation is that everyone would be subject to the tax increase, including those evil rich folks that are the continuing subject of the regressive class warfare strategy.
More lies again. The reality of the situation is that investment income, hedge fund managers, even regular income above $106,000 and other special interest uber-wealthy individuals would not be subject to the tax increase, it only applies to income below $106,000. But don't let the facts get in your way. And it is war that the GOP tools of the wealthy and corporists are waging on middle class Americans.
"Remember to always be yourself. Unless you can be batman. Then always be batman." Unknown
PrintSmith wrote: More Dog droppings. The reality of the situation is that everyone would be subject to the tax increase, including those evil rich folks that are the continuing subject of the regressive class warfare strategy.
More lies again. The reality of the situation is that investment income, hedge fund managers, even regular income above $106,000 and other special interest uber-wealthy individuals would not be subject to the tax increase, it only applies to income below $106,000. But don't let the facts get in your way. And it is war that the GOP tools of the wealthy and corporists are waging on middle class Americans.
Consider this please. If you worked at a 20K job all your life you get the same SS benefits as the guy who was earning 100K all his life. So the 100K is already paying 5X the amount for the same benefits, does that seem fair?
Should we change it? The guy who was paying 100K all his life, should receive 5X the benefits of the 20K guy. The hedge fund guy gets 10 times the payoff as the 100K guy?
Thomas Sowell: There are no solutions, just trade-offs.
