[silverleaf]

FICA ceilings are removed?

[stylin_geek]

Yeah, beyond a certain point, FICA is not collected. I think the ceiling is around $110,000 but not sure.

President Obama is planning to remove that ceiling.

Which is ridiculous, because people making over $110,000 will never get back from Social Security what they will have paid into it.

Heck, I don’t make near that amount I know I won’t get back from SS near what I’ve paid into it.

[txnativegop]

sucks doesn’t it?

[edcoil]

I said this before the election. Yes it was in his plan so his comment the no one under 250,000 would get a tax increase was always a lie.

[Bobalu]

[Myrddin]

FICA ceilings are removed?

Wonderful. My tally of damage can now rise from $17,000 to $20,000 of after tax income removed from my annual household budget when these changes take effect. Paying off the social security maximum in September has left me about $1,000 per month of extra income at the end of the year. That's the same part of the year that merchants desperately hope to get back into the "black" from holiday spending. The merchants can count me out for helping with better sales with Obama's crushing increase in taxes.

[RightOnTheLeftCoast]

"FICA ceilings are removed?"

Yes. Right there is a additional approximately 7% tax on earnings above the previous floor.

Feel stimulated yet?