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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Herc who wrote (3632)9/9/1999 2:24:00 PM
From: Robert O  Read Replies (2) of 18137
 
Now there is no maximum social security tax

I disagree. At around 70k gross SS tax is no longer taken out of one's paycheck. So there is a ceiling.

RO
Check out this related story:
www.ncscinc.org/press/sstaxcappr.htm
Eliminating the
Social Security Tax Cap

WASHINGTON, D.C. Steve Protulis doesn't want much he just wants everyone pushing for Social Security privatization to disclose when they stop paying Social Security taxes.

"In the Social Security debate, as in so many others, where you stand depends on where you sit," says Protulis, Executive Director of the National Council of Senior Citizens, one of the oldest and largest senior citizens organizations in the United States. "It is truly outrageous that those pushing for Social Security privatization never mention when they themselves stop contributing to the system. Most of the key players attending the White House Conference on Social Security stopped paying Social Security taxes months ago."

Americans who make more than $68,400 a year stop paying Social Security taxes as soon as they reach that threshold.

...more at link
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