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customerserviceguy

(25,183 posts)

26. Only for jobs that pay above the cap

Reply to democrattotheend (Reply #16)

Thu Dec 20, 2012, 11:34 PM

Dec 2012

It would have zero effect on jobs that pay under it, and that's where we need the most jobs. The big corporations that pay megabucks to some CEO wouldn't bat an eye at this, they'd just consider it part of the bloated compensation package that they will fork out in the vain hope that this particular dorkweed will somehow be their 'savior'.

It's low hanging fruit, why not pick it?

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Highlight:

Raise the Social Security payroll tax cap from $110K to... [View all] SHRED Dec 2012 OP

That's what I've always thought, Suich Dec 2012 #1

Bills have been proposes in both chambers of Congress to eliminate the cap entirely.. Kaleva Dec 2012 #2

Something to remember... Jeff In Milwaukee Dec 2012 #22

IIRC, it would bring in an extra 100 billion a year. Kaleva Dec 2012 #23

I disagree,,,, why continue to give those above $300 the break?? Just remove it. n/t KarenS Dec 2012 #3

+1000000000000. nt jschurchin Dec 2012 #28

How do you deal with the fact customerserviceguy Dec 2012 #4

The problem is those who make ten mil per year don't work for wages Major Nikon Dec 2012 #8

It's a figure I pull out of the air customerserviceguy Dec 2012 #13

None at all Major Nikon Dec 2012 #18

I can see separating earned and unearned income customerserviceguy Dec 2012 #25

My proposal exboyfil Dec 2012 #10

I used to be a tax accountant customerserviceguy Dec 2012 #14

It is based on the formula for calculating S.S. benefits exboyfil Dec 2012 #19

I don't like that idea at all democrattotheend Dec 2012 #16

Only for jobs that pay above the cap customerserviceguy Dec 2012 #26

Then make it on incomes over $250,000 democrattotheend Dec 2012 #29

Again customerserviceguy Dec 2012 #33

They ALL cash their checks..."I paid in and I am getting it back." Disgusting. libdem4life Dec 2012 #30

I'm ingrained against a cap. Do you have a reason to suggest that 300K is a just one? Loudly Dec 2012 #5

take the cap completely off..... gblady Dec 2012 #6

I thought Dems opposed turning it into a welfare program democrattotheend Dec 2012 #17

Welfare, in whose Reality? libdem4life Dec 2012 #31

Social Security is NOT part of the budget problem. SS is SOLVENT. It should not be on the table. nt Honeycombe8 Dec 2012 #7

Not a reason to not eliminate the cap. Kaleva Dec 2012 #11

Yes, it is. SS should be handled separately and later. There's no rush. It's solvent. nt Honeycombe8 Dec 2012 #21

Exactly! There are ways. Pretzel_Warrior Dec 2012 #9

Eliminate the cap and lower the rate... sanatanadharma Dec 2012 #12

Better yet, remove the cap entirely Panasonic Dec 2012 #15

I've always agreed to that proposal, but louis c Dec 2012 #20

What about subjecting dividend income to FICA? meow2u3 Dec 2012 #24

Problem is, rethugs won't be happy until they hurt poor. Hoyt Dec 2012 #27

Yes yes yes yes trocar Dec 2012 #32