Posted on 09/22/2007 2:50:53 PM PDT by Sub-Driver
How will a business respond to paying this tax. Maybe start laying off a lot of workers to reduce their costs? Heck in NYC this will cost the city aditional millions it pays in FICA because with OT a hell of a lot of folks in NYC govt. make a lot more than 97K. Did Obamaboy think of that?
You should have read my last sentence. As it stands now, the rich have no incentive to eliminate social security. The rich do have a lot to say about legislation through political influence. They own the media. If the rich were made to pay the same draconian taxes as the middle-class, a lot more money would seek the back-pockets of politicians to eliminate Social security. For that reason, I see it morally fair to make the rich suffer along wit the middle-class.
Obama (a Democrat) calling for a tax hike... And this is news, how????
Osama, Hillary, and every other Liberal’s FAVORITE poem (someone needs to put this to music!):
Tax his land,
Tax his bed,
Tax the table
At which he’s fed.
Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.
Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.
Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.
Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.
Tax his cigars,
Tax his beers,
If he cries,
then Tax his tears.
Tax his car,
Tax his gas,
Find other ways
To tax his a$$
Tax all he has
Then let him know
That you won’t be done
Till he has no dough.
When he screams and hollers,
Then tax him some more,
Tax him till
He’s good and sore.
Then tax his coffin,
Tax his grave,
Tax the sod in
Which he’s laid.
Put these words
upon his tomb,
“ Taxes drove me to my doom...”
When he’s gone,
Do not relax,
Its time to apply:
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (42 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges
IRS Penalties
(tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Sales Tax
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax.
Nice how he has just put much of America's middle class in the "rich" category.................
Ok...just where do you suggest that the Treasury invest those excess funds? A bank? Not many banks could handle the sums you are talking about. How about investing it in the stock market. If you think the market get nervous now when major institutional investors jigger around with their portfolios a bit, just wait till the fund manager for the Social Security Trust realigns his portfolio. Under the front porch in a Mason jar? Nope, no interest.
The only real way for the Federal government to invest "surplus" cash is to pay down existing debt. The interest you didn't have to pay on that debt would be your return.
Regards,
GtG
a true criminal....the greatest fraud ever FORCED on "free" people.
BUMP!
Freedom BUMP!
Scum-sucking socialists love to attack the prematurely dead. They do not fight back and can also VOTE for them.
“a true democrat.........”
Yup, kill business profits, cut take home pay, then give it to your party base.
Very appropriate. Thanks for posting.
Most people making over $97,000 are killing themselves to do so and this SOB would just take more and give it to the lazy.
I'm adapting your post to my tagline.
Good topic. Thanks for posting.
Let me (possibly 5 years from retirement) and my children opt out now. They can have everything we have “contributed”. We will never ask for 1 dime from the government, thereby doing our patriotic best to insure its solvency.
Socialists need more dead people to fund their scheme.
On the former (elimination of the cap), I think you will get your wish. On the latter (elimination of Social Security), I think you won't.
I admit the Social Security contribution cap puts a regressive factor into the overall federal tax rate. However, I would rather see an increase in the income tax above the cap limit to address the tax progressivity issue, as I think it would be more fair for Social Security, and I think it would be more a more legitimate way to fund the government (as opposed to politicians stealing the Social Security surplus).
Regardless, with earmarks and waste, the politicians have no moral ground to accuse us of not paying our fair share.
I'll make them a deal. An increase in taxes, in turn for term limits. One term for Senators, and two terms for Representatives.
What do you consider middle class? The top 50% of wage earners pay 95% of ALL income taxes. Much of the "middle class" is getting a free ride on the backs of half of the population.
Because if you take a percentage of the "entire" income, some people are going to pay WAY more than they are ever going to get back. You're basically asking thaat evil "rich guy" to pay even more for other people's retirements. SS is already a ripoff enough at the 97,000 level.
A tax on net woth in excess of $10M....
You can scream "class warfare"...but a tax like this would hit the wealthy liberals who are always trying to dump on workaday Joe Sixpack. The Hollywood lamebrains. George Soros.
Just a thought. We might be able to stymie these taxers by threatening to REALLY TRULY "tax the rich."
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