FICA, aka Socialist Security taxes, has a ceiling because SS does, on income in the neighborhood of $60K? Working from memory, my husband is a GS 15 and I know he always maxes out at some point late in the year. But there is a ceiling on SS payouts, as well. So how is it unfair?
Are you saying that "rich" people who will never be able to collect more than the ceiling on SS payouts, and will be taxed on their SS payouts because of their other income puts them in the bracket that gets your SS payouts taxed, should pay more SS tax to support those who have less money?
If so, that means people who earn more than about $60 K a year are "rich." They may appear so to someone at the bottom of the barrel, but at that income you would find it very difficult to pay a mortgage, a car note, and college tuition, all at the same time. Which is my definition of middle class. |
