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Politics : Formerly About Advanced Micro Devices
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To: SilentZ who wrote (430737)10/28/2008 11:51:33 AM
From: Tenchusatsu   of 1574296
 
Z, > No, 7.65%, right?

6.25% paid by the employee, 6.25% paid by the employer.

All tax hikes on the "rich" involve only taxing income above a certain threshold. 12.5 percentage points is still a massive tax hike.

By the way, I can understand if you want to turn the FICA tax into a "flat tax." But the funny thing is that Social Security advocates fear doing just that because it dissociates contributions from benefits, which then makes it politically less viable.

Tenchusatsu
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