2016 Postmortem
In reply to the discussion: DNC shields Hillary Clinton from debate stage [View all]JDPriestly
(57,936 posts)If you are in a big city, you may earn $100,000, but most people earn less than that. And if they do, every cent they earn is taxed for Social Security.
If they earn $300,000 a year, only the first $100,000 is fully taxed for Social Security. The idea of raising the cap on money earned over $107,000 would be to maybe be able to lower the percentage of money paid into the payroll taxes for people earning under $107,000 which is just about everybody.
Maybe lawyers and doctors earn over $100,000, but other people????
Who earns over $100,000 per year?
I think that even in Los Angeles, $100,000 is an above average salary.
Here you go for California, a state in which salaries are high (explaining that Silicon Valley is much higher than the median in California)Ned:
$61,320
At $94,572, the region's 2013 median household income dwarfed both California's statewide $61,320 median and the nationwide $53,291 median, according to a new analysis of federal data by think tank Joint Venture Silicon Valley.Sep 24, 2014
Silicon Valley tech-fueled median income tops US, California
https://www.google.com/webhp?gws_rd=ssl#q=average+income+in+California
https://en.wikipedia.org/wiki/California_locations_by_income
Here is Mississippi:
$36,919
Mississippi once again leads the nation in poverty and lags in median household income. According to U.S. Census Bureau figures released Thursday, Mississippi had a poverty rate of 22.6% in 2011, while its median household income came in at $36,919.Sep 20, 2012
https://www.google.com/webhp?gws_rd=ssl#q=average+income+in+Missippi
https://en.wikipedia.org/wiki/Mississippi_locations_by_per_capita_income
Median wage in the US:
$50,500
The median wage in the US per person is $26,695. This tells us a lot since the median household income is at $50,500. Since the Census data looks at households, this data hones in on individual wage earners. 66 percent of Americans earn less than $41,212.Dec 31, 2012
https://www.google.com/webhp?gws_rd=ssl#q=average+income+in+United+states
Hillary proved she was way, way, way out of touch with ordinary Americans when she debated. It was downright embarrassing.