AMERICA IS Under Siege

[CC Writer]

shermann7: Absolutely disagree! Are you considering the employer part of social security of 7.65% for a total of 13.85% per employee per year? The self-employed part 12.4%? The amount of social security withheld for 200,000 income would be $27,700 per year.
That would equal approximately 10 years of the maximum paid social security benefits of $2,788. Nice ponsi-scheme retirement plan. It would hurt employee wages, small businesses, and self-employed. If you want to raise taxes then raise taxes, don't call it a retirement plan. Social security used to be for retirement, now it should be called a federal income tax. I think you may be coming down with a touch of liberal disease.

Lets apply the Social Security Tax to proposed changes this year Like it is administered in terms of the SALT Tax...

The current Social Security tax is 6.2% with the Medicare tax at 1.45% for a total of 7.65% ...

The current SS Cap is at 128,000 dollars ... There is now a Precedent ... What happens if we try to cap the Social Security tax at 200,000 instead of 128,000???

The Tax income will soar, and Rich people will at least have to pay SS Tax on their first 200,000 of income. This is actually currently being discussed in congress.

Shermann