Airline Pilot Central Forums - Social Security Gotcha

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Quote:

Originally Posted by Fishfreighter (Post 1132946)

Only if you're COMPLETELY ignorant of what Marxism is.

Not the case.

Quote:

Originally Posted by MaxKts (Post 1133017)

Read the last sentence of the first paragraph

Payroll tax cut extension passed in Congress - Political Hotsheet - CBS News

That was after the right changed their position on Nov. 29. Before that...They were against any Soc. Sec. tax cut extension.

Quote:

Originally Posted by Busboy (Post 1133054)

That was after the right changed their position on Nov. 29. Before that...They were against any payroll tax cut extension.

Spin it all you like, the undeniable truth is that both sides use our money to play their game with almost zero accountability and zero benefit.

Playing sides in this matter has proven over time to be a complete waste.

Quote:

Originally Posted by jungle (Post 1133057)

But it is part of the divide/conquer dialectic. And it works so well!

Quote:

Originally Posted by Busboy (Post 1132974)

I can't leave it at that...

The basic reason for the recapture is that the 2% break is only for money earned the first two months of the year. Soc. Sec withholdings are still stopped when the taxpayer reaches the $110,000 limit. Without the recapture, high income earners would possibly gain a tax advantage over those that do not earn over $110,000/yr.

Most easily explained by:

Taxpayer #1 earns $9167/mo. Jan - Feb he pays 4.2% = $770. Mar -Dec he pays 6.2% = $5684, for a yearly total of $6454.

Taxpayer #2 earns $55000/mo. Jan and Feb he pays 4.2% = $4620. Mar - Dec he pays nothing, for a yearly total of $4620.

So, the guy making $660,000/yr would be paying $1834 less than the guy making $110,000/yr. That of course, is a worst case scenario. But, I thought it would be easiest for the dittoheads to follow.

That's the reason. If they agree to a complete year of 4.2%. The recapture will be unnecessary.

Ok, that makes sense. I am man enough to admit when I am wrong. I will refrain from making any more political comments. Thanks for the correction.

Jakal:o

Executive summary: Noise and smoke were emitted, but there has been no material change in the Ponzi. The Kabuki will continue, with different players, dances and songs. Enjoy your entertainment, you paid for it.:D

Of course that only leaves the repeal of the Bush Tax cuts, the 3.8% investment surcharge and the extra 1% medicaire tax for those of us alpapac contributors that make over $250K. All kicking in next year.

Quote:

Originally Posted by jungle (Post 1133057)

This and this.

Quote:

Originally Posted by Fishfreighter (Post 1132946)

Only if you're COMPLETELY ignorant of what Marxism is.

I'm not completely ignorant of what Marxism is and this discussion and actions of "the Marxist-in Chief" tend to be more in line with what "Marxism" is than what it isn't.

This leads me to believe someone is ignorant about their assumed understanding of socioeconomic theory.

Quote:

Originally Posted by iarapilot (Post 1133048)

Not the case.

nnnnnnnno. If you think that Obama is a Marxist, you are indeed completely ignorant of Marxism.