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Politics : Don't Blame Me, I Voted For Kerry
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To: Logain Ablar who wrote (10648)3/29/2004 8:34:16 PM
From: Lizzie TudorRead Replies (2) of 81568
 
Taxpayer B is still paying 25k more in taxes. Taxpayer derives no additional benefit and actually SS benefits will be almost the same

This is the big scam I'm trying to point out. There will be NO BENEFITS to people my age and younger under SS. It is a tax pure and simple in my view and it needs to be reallocated to the general fund until the system can be reworked. The new estimates are that medicare is insolvent as of 2020. In silicon valley the IT workers are 1099 which means they pay all the FICA taxes, there is no employer match and besides that additional payroll tax is a hindrance on hiring which we need to rework anyway. If you eliminate the FICA piece of this picture which is similar to ignoring the employer match, then its a different story because you are looking at a full 9K more in taxes paid by the 80-90K person or 10%. A lot.
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