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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (43532)	4/28/2005 9:51:12 PM
From: bentway	Read Replies (2) \| Respond to of 173976

I would think 90% would be a little high, but I know there's a lot of ignorance out there. I think most people assume the FICA tax they see on their paychecks are always on everyone's paycheck as well, which isn't true. When your income exceeds $87,000, the FICA tax that pays for Social Security and Medicare magically disappears because the tax is capped! Say you'd made $87,000 by November. For November and December of that year, you'd see no FICA tax deduction from your check! Of course, most Americans don't MAKE 87k a year, so, they don't know. One reason to be happy about this SS debate - more people get to know about how this regressive tax works.