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

To: Bill who wrote (142764)10/23/2008 2:51:21 PM
From: tonto  Read Replies (1) | Respond to of 173976
 
I do not have those tables in front of me, so I do not know about the 97%...but I have no idea where Lizzie's numbers are coming from and can't wait for her to provide them.

The employer part of FICA is not part of an individual's taxable income, for 97% of workers.

(If you want to add it in, you need to add in every fringe benefit, medical insurance, miles, training expense, employee meals, union dues, 401k match, pens and paper, everything a company pays for on behalf of an employee. Once you do this you negate whatever argument you are trying to make.)



To: Bill who wrote (142764)10/23/2008 2:56:40 PM
From: Lizzie Tudor  Read Replies (1) | Respond to of 173976
 
Bill every schedule C pays the whole thing. No deductions like with income tax. Hugely regressive and hugely costly. the NO DEDUCTIONS part is the worst part.

Just raise the cap to all income for FICA. That will take care of the problem, SS will get flushed in ONE YEAR.


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