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I don’t and who would, I wonder?
This blogger quotes Obama’s plan for the Social Security payroll tax increase:
Democrat Barack Obama would apply the Social Security payroll tax to all annual incomes above $250,000, which he says would affect the wealthiest 3 percent of Americans.
The payroll tax is now applied to all income up to $102,000 a year, which covers the entire amount for most Americans. Under Obama’s plan, the tax would not apply to incomes between that amount and $250,000. But all annual income above the quarter-million-dollar amount would be taxed under his plan.
Obviously this is not going to work. The amount of people making enough money to be taxed according to this plan are not enough to keep social security in the black.
And, being that people with incomes as high as this are obviously money smart, they would divert their incomes in such a way to avoid the tax.
This is no more than another election proclamation that has nothing but fresh air behind it.!
I think Obama’s plan is lame. What about these companies like pharmacetical, car companies,
billion dollar fat cats that should be taxed. Why take money from seniors, poor people &
education. How about getting rid of these high paid senators who do nothing & argue over
stupid crap, This isn’t rocket science. If you can balance a check book why can’t our Gov’t
balance our budget. For years there was out of control spending & why are we bankrupt.?
these idiots used tax payers money irresponsibly & now it’s time to pay up. America is heading for economic collapse, the dollar is worth less every day. Other countries aren’t unwilling to take a chance on our currency. One world order here we come, one world currency, one world ruler.
Actually you can not divert income when paying your Social Security, it comes off the top. Other than that I don’t know if it will work or not.