I have heard how the Social Security is broke, we are taking current fica taxes to pay retires. We have passed the point where the taxes collected will cover the payments made. So in the governments effort to solve the problem, what do they do. They cut the fica tax rate from 6.2 % to 4.2 percent. That's a fine way to fix the program!! I'm generally for any tax cut figuring the government will spend every dollar they take in. With the fica tax cut they should have started a phase out of the program, starting with anyone under 55 years old. ahh, make that 52 years old, I married a younger woman.;-) MikeK
Government is nuts.
Dec 07, 2010
1 Replies
It's all the same money. FICA goes into the general fund. The reason Bummer wants to cut FICA is because the "rich don't pay FICA" taxes. It's really the same thing as a tax credit, except spread out. It'll work about as well, too.
Sure. I'd rather get the economy running rather than buy another round of beer.
That's in Paul Ryan's plan. That's the direction Bush wanted to go in almost a decade ago. It takes too much money and power out of Congress' hands.
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