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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (158654)	10/20/2008 4:31:59 PM
From: Dan3	Read Replies (1) \| Respond to of 306849

Re: I'm curious which two columns are you using to get 65% and 84% here. It's the income tax and "social insurance" (FICA) columns. Wall street workers pay more income tax than FICA, main street workers pay more FICA tax than income tax. If half as much value were collected in FICA tax receipts as income tax receipts the number would be 50%. As it stands, the numbers are as shown. You don't want too much "wall street" tax and too little "main street" tax, but right now we may have a vice versa situation. The notion that FICA taxes are anything other than general income taxes is a quaint but foolish notion. If the Federal Budget were kept balanced, and FICA taxes were off budget, it would mean something, but the reality is that it all goes into the same pot.