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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: GraceZ who wrote (160321)10/26/2008 6:56:12 PM
From: neolibRead Replies (2) of 306849
 
Forget the flawed data in your link, your 5% is still badly flawed as well. Just provide some data which clearly supports that.

What other transfer taxes? I can't get what you mean by this.

You have made several statements where you seemed to me (perhaps I misread your intent) to be arguing that EIC "effectively" reduces the FICA rate at the low end, hence I should consider that the low end pays less FICA tax than I think. I was assuming that was your method of arriving at 5% for the bottom 50% of house holds. If I misread you, just provide the data on the 5% FICA rate for the bottom 50% of households.

You are the one who wants to lump FICA in with Federal income tax payments, which low income earners clearly do not pay in any great amount, as proof that they contribute some higher percentage of their meager incomes to the Federal government.

As I stated before, I have two very simple points:

1) Wage earning poor pay 15.3% higher taxes than is generally considered to be the case by most people yapping about taxation. This directly relates to your 5% of FICA for the lower 50% of households, which is a completely out to lunch claim.

2) The federal government in its implementation of SS is effectively not treating it (other than smoke and mirrors) as anything different from the general fund, so despense with the smoke and mirrors on both the income and expense side.

Not trying to make any other points, including anything related to any other welfare such as EIC.
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