First, I am on SS and have been for 15 years but that is not an issue.
My question concerns the tax cut that will expire in January and apparently will not be extended, thus, raising the tax burden on most workers.
One question I have always had is simply. why not lower the tax rate on workers and employers to say, 3% and raise the ceiling to a million or more a year? This would benefit 90% of the workers and most employers and raise as much or more money for the SS trust fund.
I personally think it is better to tax some 21 year old NBA player 3% of his 100 million dollar contract than to charge most workers over 7% and the employers to match it.
I truly feel that if I made a billion dollars next year, I would not mind paying 30 million into the SS trust fund.
So I do think the ceiling at least should be raised much higher than it is presently.
This post was edited on 10/22 5:44 PM by bobhawg
My question concerns the tax cut that will expire in January and apparently will not be extended, thus, raising the tax burden on most workers.
One question I have always had is simply. why not lower the tax rate on workers and employers to say, 3% and raise the ceiling to a million or more a year? This would benefit 90% of the workers and most employers and raise as much or more money for the SS trust fund.
I personally think it is better to tax some 21 year old NBA player 3% of his 100 million dollar contract than to charge most workers over 7% and the employers to match it.
I truly feel that if I made a billion dollars next year, I would not mind paying 30 million into the SS trust fund.
So I do think the ceiling at least should be raised much higher than it is presently.
This post was edited on 10/22 5:44 PM by bobhawg
