Quote:
Originally Posted by Redux
Or as I proposed a long time ago in this discussion...raise the FICA rate, which is currently capped on wages over $100k. Those under $100K pay 6% and the rate effectively goes down as wages go up. A person making $300K only pays 2% (6% on the first $100K, then 0% on the last $200K).
Is it "fair" that you pay a 6% FICA tax and a guy with a $1 million salary pays less than a 1% tax? Does he work harder than you?
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I could actually support something like that as long as all wages are taxed equally across the board and no one is exempt from paying the tax at the lowest end as well. Just do away with other taxes.