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Politics : Formerly About Advanced Micro Devices
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To: Daniel Schuh who wrote (125498)10/6/2000 2:00:02 PM
From: Joe NYC  Read Replies (1) of 1570542
 
Dan,

See my post to Tim about SS not really being a tax, but a form of old age, disability and survivor insurance.

The figures you post again include both employer and employee, and are gross figures.

The figure don't income earned income tax credit, which refunds low income people their social security payments (and more in some cases). Their payments are made for them by th high income taxpayers from general revenue.

This results in lower net figure of Social Security, and one more heavily skewed in favor of long income people at expense of higher income people.

I think medicare does not really belong to the ss, because it doesn't really work as a social insurance program. It is a general tax.

The SS figure further includes unemployment insurance and railroad retirement insurance.

Joe
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