Bob Brinker: Market Savant & Radio Host Message Board

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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: Skeeter Bug who wrote (4714)	4/26/1998 7:42:00 PM
From: edward miller	Read Replies (1) of 42834

I also don't agree with the flat tax ideas, but for a totally different reason - Social Security Taxes. Lower and middle income wage earners pay FICA on all of their income - and that is another 7.65%, plus they get paid less because their employers are taxed the same amount, so employees don't get the money, the government does. Please don't tell me it's a forced savings plan because we all know the money is being spent now so that if we need that money in retirement it won't be there. I suspect that the poorest will still get net benefits, but not anybody else. The truth is that this is another income tax. Any flat tax means that rich people are taxed at the flat rate and everyone else is double taxed - the flat rate plus FICA up to the income limit for that tax. This makes for an unfair tax on the poor and middle class. For the record, I do not pay FICA the entire year and I am one of those few who actually want to see it right even if it costs me a few bucks. A flat tax on top of FICA is grossly unfair and an unequal tax burden. Ed Miller

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