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Non-Tech : Who Really Pays Taxes?
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To: ztect who wrote (418)8/17/2000 8:02:55 PM
From: Les H   of 666
 
You forgot to include the regression in the payout in SS. The more you put in, the less you get out as payout of your contributions. That's why it's capped. Furthermore, the government employees were opted out till the 80's and state and local employees are still able to opt out.

The other thing about capitations on the income subject to SS tax. The caps are raised by wage growth or some figure, substantially larger than the CPI, while benefits are linked to the phony CPI.

The taxes were raised in 1980s partly since the Democrats were greatly increasing SS payouts in the 70s.
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