S/he can't tell you what the "portion" is because "the rate shall be determined by the Social Security Administration"...
From HR2525:
`(d) OLD-AGE, SURVIVORS AND DISABILITY INSURANCE RATE- The old-age, survivors and disability insurance rate shall be determined by the Social Security Administration. The old-age, survivors and disability insurance rate shall be that sales tax rate which is necessary to raise the same amount of revenue that would have been raised by imposing a 12.4 percent tax on the Social Security wage base (including self-employment income) as determined in accordance with chapter 21 of the Internal Revenue Code most recently in effect prior to the enactment of this Act. The rate shall be determined using actuarially sound methodology and announced at least 6 months prior to the beginning of the calendar year for which it applies.Your earnings would still be reported to SS, that's what they'll use to "determine" the tax rate, and of course we know we can trust the bureaucrats tinkering with raising taxes without a vote or oversight from Congress to be fair in their assessements.`(e) HOSPITAL INSURANCE RATE- The hospital insurance rate shall be determined by the Social Security Administration. The hospital insurance rate shall be that sales tax rate which is necessary to raise the same amount of revenue that would have been raised by imposing a 2.9 percent tax on the Medicare wage base (including self-employment income) as determined in accordance with chapter 21 of the Internal Revenue Code most recently in effect prior to the enactment of this Act. The rate shall be determined using actuarially sound methodology and announced at least 6 months prior to the beginning of the calendar year for which it applies.
`(f) ASSISTANCE- The Secretary shall provide such technical assistance as the Social Security Administration shall require to determine the old-age, survivors and disability insurance rate and the hospital insurance rate.
Their phony 23% rate would actually increase the prices by 30% and that's only for the first year...after the first year they'd use the combined rate of SS and other bullsh!t to figure how to get more money out of you directly because they'll "eliminate" corporate and other taxes their "revenue neutral" tax scam will shift the burden directly to YOU, the consumer...
As to their phony "poverty level" rebate, YOUR rebate is included in the higher tax rate. You'd be paying yourself the rebate and the more you purchased the more rebates you'd fund.
< sarcasm > Don't forget the "poverty level" as defined by the central government is exactly the same everywhere so all rebates will benefit each taxpayer the same wherever they live. Be it New York City or Boise,Idaho the "poverty level", the cost of living is the same.< /sarcasm >
If you haven't already, the next thing you'll be told is that under their plan, if you want to lower your tax burden you can either NOT spend your money or simply purchase someone elses used crap. Those are their options for saving on taxes.
Now which sales tax shill will be the first to call me a liar?
From his post:
(d) OLD-AGE, SURVIVORS AND DISABILITY INSURANCE RATE- The old-age, survivors and disability insurance rate shall be determined by the Social Security Administration. The old-age, survivors and disability insurance rate shall be that sales tax rate which is necessary to raise the same amount of revenue that would have been raised by imposing a 12.4 percent tax on the Social Security wage base (including self-employment income) as determined in accordance with chapter 21 of the Internal Revenue Code most recently in effect prior to the enactment of this Act. The rate shall be determined using actuarially sound methodology and announced at least 6 months prior to the beginning of the calendar year for which it applies.
`(e) HOSPITAL INSURANCE RATE- The hospital insurance rate shall be determined by the Social Security Administration. The hospital insurance rate shall be that sales tax rate which is necessary to raise the same amount of revenue that would have been raised by imposing a 2.9 percent tax on the Medicare wage base (including self-employment income) as determined in accordance with chapter 21 of the Internal Revenue Code most recently in effect prior to the enactment of this Act. The rate shall be determined using actuarially sound methodology and announced at least 6 months prior to the beginning of the calendar year for which it applies.
`(f) ASSISTANCE- The Secretary shall provide such technical assistance as the Social Security Administration shall require to determine the old-age, survivors and disability insurance rate and the hospital insurance rate.
I'm betting that you, unlike Lewis can read that and UNDERSTAND what it says!
SHEEEECH!