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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (390940)6/14/2008 12:58:34 AM
From: i-node  Read Replies (1) of 1574772
 
"The main point to take away from this is why we even have a FICA cap in the first place."

Greedy, filthy rich Repugnicans.

The original plan had a FICA cap of a few hundred dollars, which was put in place by the people who passed the legislation (you can guess who that was). It stayed in the under $5,000 range into the 70s, at which time it was increased pursuant to Reagan's restructuring of SS.

It was not the Republicans who installed the wage cap; they are the ones who increased it in a futile effort to save the system.
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