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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (516698)9/28/2009 2:30:28 PM
From: Tenchusatsu  Read Replies (1) of 1576343
 
RW, > I didn't see that. Have a link?

Back during the campaign, Obama wanted to lift the FICA cap on all income above $250K:

boston.com

Re-reading that article, though, it wasn't clear to me whether Obama wanted to charge the full SS rates (the 12.5 percentage points) on the income above $250K. Practically speaking, there's no way he can get that passed.

But in the absence of any details, the assumption is that lifting the FICA cap means full taxation on all that income.

Tenchusatsu
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