Social Security Gotcha
02-10-2012 | 05:09 PM
#21
Gets Weekends Off
Joined: Aug 2006
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From: B777 FO FDX, C130 ANG
I think that the recapture they are getting at will apply if your company doesn't take out your FICA at 4.2/6.2% differential and you end up only paying 4.2% for all of the first 2 months though you earned over $18,350. They are saying "be prepared".
Although I agree it's an unfunded tax break (just like the $500B/yr Bush tax cuts) I'll take the $$ now as well thanks. (I don't have a party affiliation either).
Although I agree it's an unfunded tax break (just like the $500B/yr Bush tax cuts) I'll take the $$ now as well thanks. (I don't have a party affiliation either).
02-10-2012 | 05:12 PM
#22
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From: B777 FO FDX, C130 ANG
02-10-2012 | 05:21 PM
#23
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From: leaning to the left
Uhhh....
"...President Obama is proposing a one-year extension and expansion of the tax holiday already in place on the employee share of the payroll tax, cutting it to 3.1% from the 2011 rate of 4.2%. He also proposes cutting the employer share of the tax to 3.1% from 6.2% on the first $5 million of payroll next year; there would be a complete employer payroll tax holiday for companies that grow their payrolls up to $50 million in a year by hiring new workers or raising the salaries of existing workers..."
Fox Business News-Obama's payroll tax plan
"...President Obama is proposing a one-year extension and expansion of the tax holiday already in place on the employee share of the payroll tax, cutting it to 3.1% from the 2011 rate of 4.2%. He also proposes cutting the employer share of the tax to 3.1% from 6.2% on the first $5 million of payroll next year; there would be a complete employer payroll tax holiday for companies that grow their payrolls up to $50 million in a year by hiring new workers or raising the salaries of existing workers..."
Fox Business News-Obama's payroll tax plan
02-10-2012 | 05:40 PM
#24
With The Resistance
Joined: Jan 2006
Posts: 6,191
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From: Burning the Agitprop of the Apparat
Just looking at the math, and no matter how you spin it, SS has turned out to be one of the worst Ponzi schemes ever foisted onto the public at gunpoint.
Most of us would be far better off just stuffing that money into a safe place.
And that is all there is to it, but many are going to try to help you for your own good. They will always be very dangerous.
The original SS was a noble effort, but if you actually study the history, it has been perverted and mutated beyond any reasonable meaning.
Most of us would be far better off just stuffing that money into a safe place.
And that is all there is to it, but many are going to try to help you for your own good. They will always be very dangerous.
The original SS was a noble effort, but if you actually study the history, it has been perverted and mutated beyond any reasonable meaning.
02-10-2012 | 05:45 PM
#25
Part Time Employee
Joined: Jul 2006
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From: Dispersing Green House Gasses on a Global Basis
Read the last sentence of the first paragraph
Payroll tax cut extension passed in Congress - Political Hotsheet - CBS News
Payroll tax cut extension passed in Congress - Political Hotsheet - CBS News
02-10-2012 | 05:59 PM
#27
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From: leaning to the left
02-10-2012 | 06:03 PM
#28
With The Resistance
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From: Burning the Agitprop of the Apparat
02-10-2012 | 06:22 PM
#29
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From: leaning to the left
But, the difference this time is that they are actually making an attempt to protect the workers pensions. As opposed to just letting the company pawn it off at pennies to the dollar to the PBGC.
02-10-2012 | 06:28 PM
#30
With The Resistance
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From: Burning the Agitprop of the Apparat
Much like yet another Ponzi, the FDIC, there is nothing like a real emergency to test plausibility. I can tell you it is not plausible, the numbers can't lie, but people frequently do.
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