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To: UCSC Republican
Let's end it then. I'm game.
4 posted on 02/05/2004 1:43:54 AM PST by nickcarraway (www.terrisfight.org)
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To: nickcarraway
Let's end it then. I'm game.

That's doubtful if you're well-off. This article doesn't even touch on the true Social Security rip-off which is that FICA revenues are diverted into general expenses which permits higher federal spending and lower tax rates than would otherwise be the case. Particularly as Social Security benefits are reduced over time, this does indeed amount to a massive upward transfer of wealth from the lower classes to the more wealthy.

If FICA taxes were suddenly done away with, tax rates for upper income brackets would quite soon rise and they would rise quite sharply. They would no doubt rise more than whatever amount is paid in FICA taxes for the first $87,000 of income.

7 posted on 02/05/2004 1:59:47 AM PST by AntiGuv (When the countdown hits zero, something's gonna happen..)
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