Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: THE ANT who wrote (108895)	2/27/2010 10:29:05 AM
From: Dan3	1 Recommendation Read Replies (2) of 116555

Re: In the US 40% of the people pay no Fed tax(excluding FICA or medicare where the pay less than the benefits they receive) Not true. Bush justified his tax cuts for high income taxpayers by "borrowing" from the "surplus" created by FICA tax contributor. It's been FICA taxes paying for Wall Streeter's tax cuts. (Actually, it's been FICA taxes paying for things like the Military so that the Wall Streeters wouldn't have to pay their fair share. FICA tax payers have been paying for 100% of benefits PLUS carrying the burden of other needs like defense. As the population ages, that will change unless the rules are changed. Wanna bet on whether or not the rules are changed?

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