SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Residential Real Estate Crash Index
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: GraceZ who wrote (12860)8/21/2003 6:31:13 PM
From: Wyätt GwyönRead Replies (1) of 306849
 
The only way the American people would allow it is if it was limited to a income ceiling. The reasoning is that the benefits have a ceiling

this is poor reasoning. the benefits of government services to any individual taxpayer have an effective ceiling, but there is no limit on the amount of income tax paid. thus the same logic would allow the lapdogs of the rentier class to put a ceiling on income tax. forward this idea to the WSJ editorial page immediately!

Aside from that, driving the SS 12.3% portion to the last dollar of income would simply drive more of my clients to switch over to corporate form where they can limit their SS payments by taking most of their income in dividend form because it would make the extra accounting trouble far more profitable.

perhaps you didn't get what i said the first time: these taxes--SS, FICA, Medicaid, etc.--should all be applied to dividends as well as the income of the working rich. this is what is meant by "unearned income of the rentier class", so hopefully you understand the meaning now.

by forcing the working rich and the idle rich to pay for FICA/SS/Medicaid, just like the working poor whom they exploit, the overall rates of these taxes could be lowered. furthermore, the rates should be graduated, just as income taxes are. this will reduce the burden on the middle and lower classes, while increasing the burden on the rich.

If anyone should be pissing and moaning about SS it should be me considering I've been paying both halves as long as I've been working

you're not the only one.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News