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Non-Tech : Who Really Pays Taxes?
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To: stock leader who wrote (588)1/6/2003 2:21:21 PM
From: Logain Ablar   of 666
 
Oh and i guess you missed the fact that after about 90K in salary or self-employment income, rich folks no longer pay the 6.2% SS tax. I guess you conveniently missed that little snippet

It was $84,900 last year. About two years ago I was @ a presentation where the presenter (from the ss administration) indicated the higher brackes can expect to receive around 20% of their salary in benefits (maxed out @ the top level of 84.9) and the lower income up to 70%.

Now consider either beneficiary receives less than a 2% return on the funds contributed (employee and employer match).

If we have a cut in this tax we should have a corresponding cut in beneifts as the funds will run out earlier than the projected 2035 (actually they don't run out but benefits would have to be reduced).
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