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Politics : Mainstream Politics and Economics
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To: Steve Lokness who wrote (14309)4/2/2012 12:27:13 PM
From: TimF  Read Replies (1) of 85487
 
The payroll taxes is only on the first 110K or so.

You didn't read very carefully, before you jump to "lies".

" I would like to see in one place where all of the Democrat "taxing of the rich" ideas are tabulated."

That wasn't phrased as a question, but it basically was one. I answered it. One of the ideas, that has been posted on this thread, in particular by Koan, and perhaps others (and other places by Democrats liberals and/or progressives), is to remove the cap.

I included the cost of removing the cap. And I said so in my post "Removing the cap on payroll taxes..."

Edit, but after all the calculations, I made a very simple math mistake. I added two simple numbers together and got a number that's too low. Don't know how I made that mistake, or missed it until now.

54.9 and 4.3% is 59.2.

Then add it the effective 4.961 for Hawaii*, and you get 64.161%

* The actual rate for Hawaii is much higher at 11% but since you can deduct that from your federal taxes, you can't just add the two tax rates to get an overall rate.
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