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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (14309)	4/2/2012 12:27:13 PM
From: TimF	Read Replies (1) \| Respond to of 85487

The payroll taxes is only on the first 110K or so. You didn't read very carefully, before you jump to "lies". " I would like to see in one place where all of the Democrat "taxing of the rich" ideas are tabulated." That wasn't phrased as a question, but it basically was one. I answered it. One of the ideas, that has been posted on this thread, in particular by Koan, and perhaps others (and other places by Democrats liberals and/or progressives), is to remove the cap. I included the cost of removing the cap. And I said so in my post "Removing the cap on payroll taxes..." Edit, but after all the calculations, I made a very simple math mistake. I added two simple numbers together and got a number that's too low. Don't know how I made that mistake, or missed it until now. 54.9 and 4.3% is 59.2. Then add it the effective 4.961 for Hawaii, and you get 64.161% The actual rate for Hawaii is much higher at 11% but since you can deduct that from your federal taxes, you can't just add the two tax rates to get an overall rate.