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Politics : Formerly About Advanced Micro Devices
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To: michael97123 who wrote (390906)6/13/2008 7:12:37 PM
From: Tenchusatsu  Read Replies (1) of 1574470
 
Michael, currently the rate is 12.5% (half paid by employer, half paid by employee). I estimate at least a half to two-thirds cut in the rate if they lifted the FICA cap but kept everything "revenue-neutral."

That means somewhere between 4% and 6%, which to the average idiot actually means 2% to 3%.

The main point to take away from this is why we even have a FICA cap in the first place. The answer to that, plus the fact that many Democrats want to lift the FICA cap, demonstrates what a sham Social Security has become.

Tenchusatsu
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