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Old 09-22-2009, 11:28 AM   #931
classicman
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Americans want Government to solve all our problems. Well, that's what were getting - then we complain when Government get too big - sound like a vicious cycle of circle jerks. Obama is doing what the Democrats have wanted all along - big Government in a socialistic atmosphere under a democratic label.
Not all Americans want big Gov't. Many want less and always have.

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...during the address President Obama made to Congress a couple of weeks ago. I waited for the part on "How would this be paid for?" to come up. It finally did... as a matter of fact... Obama had transitioned with that very question...

"How is this going to be paid for?" He said it... I heard it...

He never answered it.
It very simple - the productive members of society will pay for themselves and everyone else.
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Old 09-22-2009, 11:37 AM   #932
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I understand England has 12% coming out of their citizens paychecks every payday to pay for their health care (I may be wrong). If that happens in this country... it will undoubtedly help many but, it will also bankrupt many.
We have 6% (fica tax) coming out of our paychecks every payday to pay for Social Security (and another 1+% for Medicare)...that is, until your salary hits $100,000....at which point, one does not pay more in Social Security taxes. So if you make $200k, your tax rates is in effect 3%. The more you make, the lower the total percentage of fica taxes.

Applying that 6% rate on all income over $100k could very well cover the cost of the proposed health care reform.

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It very simple - the productive members of society will pay for themselves and everyone else.
Its very simple.....apply the same fica tax rate to all!

Last edited by Redux; 09-22-2009 at 12:14 PM.
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Old 09-22-2009, 11:52 AM   #933
classicman
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So a tax increase of 6% on all households with incomes of $100,000 or more - Is that what you are saying?
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Old 09-22-2009, 11:55 AM   #934
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It very simple - the productive members of society will pay for themselves and everyone else.
Isn't that the current system?
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Old 09-22-2009, 12:00 PM   #935
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So a tax increase of 6% on all households with incomes of $100,000 or more - Is that what you are saying?
I should have said the 6% fica rate should apply to all wages/salaries, not all income.

The higher one's income, generally, the percent of that income from wages/salaries (as opposed to investment and other sources of income) goes down.
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Old 09-22-2009, 12:18 PM   #936
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glatt - of course. It seemed like the simplest answer to the question posed.

Redux, so there is a 6% tax increase on all household wages and salaries of $100,000 or more - That correct?
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Old 09-22-2009, 12:21 PM   #937
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Redux, so there is a 6% tax increase on all household wages and salaries of $100,000 or more - That correct?
They already pay 6% on on the first $100k...but effectively only pay 4.5% on their total wages (not tax on the last $50k)

Why should someone making $150k pay a lower rate than someone making $80k.

It is the reverse of the long standing concept of taxing according to ability to pay (the concept of progressive taxation that I know you dont agree with).

But this wouldnt even be a progressive tax.....6% on all wages/salaries....same rate for all.

Last edited by Redux; 09-22-2009 at 12:29 PM.
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Old 09-22-2009, 12:29 PM   #938
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It was an extremely simple yes/no question? Are they paying an additional 6% or not?
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Old 09-22-2009, 12:31 PM   #939
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Please read what I wrote...I think its pretty simple.

Yes....6% rate on wages/salaries for all....and yes, that would mean a tax increase for those making over $100k.

Or hell, modify it, and only apply to the first $100K (as it currently the case), exempt wages between $100k - 250k, and then wages/salaries over $250K (or $400k family)..to protect the middle class.
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Old 09-22-2009, 12:32 PM   #940
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Yes
That is the simple answer, thank you.

So a household with two people in it making 50k each is gonna get hit with a 6% tax increase. How well received do you think that message will be?
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Old 09-22-2009, 12:38 PM   #941
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So a household with two people in it making 50k each is gonna get hit with a 6% tax increase. How well received do you think that message will be?
Huh?

Those two people making 50K each are already paying that 6%.

A household with two people making $150K each are the ones effectively paying a lower rate.... 4.5% by both not paying on their last $50k. They would see their taxes increase 1.5% by paying that 6% on the full wages.

Last edited by Redux; 09-22-2009 at 12:45 PM.
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Old 09-22-2009, 12:48 PM   #942
classicman
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I'll see your huh and raise you a WTH?
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Old 09-22-2009, 12:52 PM   #943
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Its a simple payroll tax increase....apply the same 6% rate that to all wages/salaries....or exclude wages between $100k -250K. Its really not that hard.

If you make 100K or under, you are already paying that rate. If you are making over $100k, you are currently paying 0% payroll tax on wages over $100k.
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Old 09-22-2009, 01:25 PM   #944
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Its a simple payroll tax increase....
ok got that part.
OBAMA IS RAISING TAXES!!! RUN FOR THE HILLS!!!

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apply the same 6% rate to all wages/salaries....or exclude wages between $100k -250K.
well? which is it applied or excluded?
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If you make 100K or under, you are already paying that rate. If you are making over $100k, you are currently paying 0% payroll tax on wages over $100k.
uh - yeh ok. Happy Monkey always makes up lil graphs and charts to explain this stuff.
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Old 09-22-2009, 01:31 PM   #945
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apply the same 6% rate to all wages/salaries....or exclude wages between $100k -250K.
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well? which is it applied or excluded?
Two variations on the same theme.

The second option would protect those middle wage earners.

The fact remains that those workers making $100K and under are paying a greater proportion of their salaries in payroll taxes than those making above $100K.
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