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The time is now 7:32 am
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May 11, 2024, 7:32 am
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Yes, Actually, Obamacare Is the Biggest Tax Increase in History
Published:
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Obama Cares IS NOT the biggest Tax Increase in U.S. History!
That Honor or Dishonor,depending on who looks at it subjectively,belongs to Ronald Wilson Reagan who in 1983 passed and signed His "Social Security Reform Act" which raised the income level on which The FICA tax is deducted form the American workers paychecks to a level NOW,$106,900,that approximately 90% of American Working men and women NEVER meet!
That tax increase has been in effect for 29 years now bringing in to the treasury at least a trillion OR MORE.
Put into perspective a person making 1 million per year ONLY pays it a little more than 1/10 th of the year making it a tax hike on those that make less.
Obamacare DWARFS any and every tax in history.
DWARFS!
posted by bobbya : 9:43 AM
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Heres the minimum rate table
http://www.ssa.gov/cgi-bin/smt.cgi
The max benefit
http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/5/~/maximum-social-security-retirement-benefit
excerpt:
What is the maximum monthly Social Security retirement benefit?
The maximum benefit depends on the age a worker chooses to retire. For example, for a worker retiring at age 66 in 2012, the amount is $2,513. This figure is based on earnings at the maximum taxable amount for every year after age 21.
It is all based on your earnings. As the old saying goes.
You get what you pay for based on their calculation tables.
I did not take into consideration the SSI benefit rate
Someone making the max income for soc sec tax will pay in like over $416,000.00 to soc sec in a 30 year period.
I missed 15 years of calculation for amount paid in. $13,807.00 x 15 years added.
You calculate $13,890.00 paid per year to collect interest for 30 years how much would that be if they paid into their own retirement.
They would make billions in fees,invest YOUR money in their scams that will crash right before you retire leaving you nothing.
Rupert Murdoch OWNS The DOW and the Wall Street Journal.
Does anybody believe that he cares about the best interests of the vast majority of American tax Payers?
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