Political Wrinkles  

Go Back   Political Wrinkles > General Forum > News & Current Events
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

News & Current Events Discuss Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare penalt at the General Forum; Originally Posted by GottaGo Mmmm... 1.45% Medicare, 6.2% Soc Sec. = 7.65% Please don't tell me you were unaware of ...

Reply
 
LinkBack Thread Tools Display Modes
  #11 (permalink)  
Old 12-18-2017, 10:52 AM
FrancSevin's Avatar
Runs with scissors
 
Join Date: Mar 2014
Location: St Louis MO
Gender: Male
Posts: 12,514
Thanks: 7,611
Thanked 10,543 Times in 5,955 Posts
Default Re: Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare pe

Quote:
Originally Posted by GottaGo View Post
Mmmm...

1.45% Medicare, 6.2% Soc Sec. = 7.65%
Please don't tell me you were unaware of the so called "Employer Contribution."

I consider it the biggest scam FDR ever played on the American working people.

BTW, I don't object to these "taxes" as much as I object to them being ignored in this conversation about Tax Reform as they are based directly on income.
__________________
I am going to hang a Batman Costume in my closet. .......... Just to screw with myself when I get alzheimer's.
sola gratia, sola fide, sola scriptura.

I AM NOT A REPUBLICAN, I AM A FREEMAN, THE DEMOCRATS WORST NIGHTMARE

Last edited by FrancSevin; 12-18-2017 at 11:00 AM..
Reply With Quote
  #12 (permalink)  
Old 12-18-2017, 11:01 AM
GottaGo's Avatar
Sanity is overrated.
 
Join Date: Aug 2009
Location: Miles to go before I sleep
Posts: 11,764
Thanks: 9,579
Thanked 7,756 Times in 4,967 Posts
Default Re: Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare pe

Quote:
Originally Posted by FrancSevin View Post
Please don't tell me you were unaware of the so called "Employer Contribution."

I consider it the biggest scam FDR ever played on the American working people.
I deal with it on a daily basis.

But the employee does not pay that. While for some companies, it does effect rates of pay, but not all. Most consider it as a cost of doing business, and it's built into the price of products and services.

But if one were to continue that line of thinking, you need to add in State and Federal unemployment costs, and Worker's comp insurance, which are also not paid 'off the top' by the employee.

Semantics, perhaps.
__________________
Your life is the sum total of the choices you make.
If you don't laugh at yourself, a whole bunch of people will volunteer to do it for you
I never lose. I either win, or I learn....
Reply With Quote
  #13 (permalink)  
Old 12-18-2017, 11:25 AM
FrancSevin's Avatar
Runs with scissors
 
Join Date: Mar 2014
Location: St Louis MO
Gender: Male
Posts: 12,514
Thanks: 7,611
Thanked 10,543 Times in 5,955 Posts
Default Re: Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare pe

Quote:
Originally Posted by GottaGo View Post
I deal with it on a daily basis.

But the employee does not pay that. While for some companies, it does effect rates of pay, but not all. Most consider it as a cost of doing business, and it's built into the price of products and services.

But if one were to continue that line of thinking, you need to add in State and Federal unemployment costs, and Worker's comp insurance, which are also not paid 'off the top' by the employee.

Semantics, perhaps.
And that logic is how the scam, the big lie, has been accepted by employers. No matter how you look at it, this is a cost of labor. But unlike Worker's comp and in-employment MANDITORY costs, this on is not placed on the employer as part of doing business in a state. It is a federal TAX on wages and is bracketing directly to those wages.

Although I believe it obviously arguable, this TAX could be used in the business to either pay higher gross wages, or improve product quality, or product competitiveness, all a benefit to both the employer and the worker. But again I understand the benefit of the Social Security system but let's call it what it is,,; a tax based on the individual's income (as apposed to the employers revenues), and therefore should be spoken of in that way.

The Social Security Program is a major part of the overall Federal Budget and is entirely funded by a scale apportioned directly off the wages of American Tax payers. Seriously,,,; Have you not encountered employees who are unaware of this?

Congress and the Media lie when they claim more than50% o workers do not pay income taxes. Every working person most certainly does. And it truth, none of these lower wage workers get a break from the new Tax Reform.

And this is why.

I believe tax payers would object to having 15% of their income removed for a program from which many might not live to benefit. But at least they should know.
__________________
I am going to hang a Batman Costume in my closet. .......... Just to screw with myself when I get alzheimer's.
sola gratia, sola fide, sola scriptura.

I AM NOT A REPUBLICAN, I AM A FREEMAN, THE DEMOCRATS WORST NIGHTMARE

Last edited by FrancSevin; 12-18-2017 at 11:31 AM..
Reply With Quote
  #14 (permalink)  
Old 12-18-2017, 12:41 PM
GottaGo's Avatar
Sanity is overrated.
 
Join Date: Aug 2009
Location: Miles to go before I sleep
Posts: 11,764
Thanks: 9,579
Thanked 7,756 Times in 4,967 Posts
Default Re: Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare pe

Quote:
Originally Posted by FrancSevin View Post
And that logic is how the scam, the big lie, has been accepted by employers. No matter how you look at it, this is a cost of labor. But unlike Worker's comp and in-employment MANDITORY costs, this on is not placed on the employer as part of doing business in a state. It is a federal TAX on wages and is bracketing directly to those wages.

Although I believe it obviously arguable, this TAX could be used in the business to either pay higher gross wages, or improve product quality, or product competitiveness, all a benefit to both the employer and the worker. But again I understand the benefit of the Social Security system but let's call it what it is,,; a tax based on the individual's income (as apposed to the employers revenues), and therefore should be spoken of in that way.

The Social Security Program is a major part of the overall Federal Budget and is entirely funded by a scale apportioned directly off the wages of American Tax payers. Seriously,,,; Have you not encountered employees who are unaware of this?

Congress and the Media lie when they claim more than50% o workers do not pay income taxes. Every working person most certainly does. And it truth, none of these lower wage workers get a break from the new Tax Reform.

And this is why.

I believe tax payers would object to having 15% of their income removed for a program from which many might not live to benefit. But at least they should know.
If you want to view it as an 'employee tax that is paid off the top', that's your prerogative, though I don't think you'll find many in the field that would agree with you.

I would be interested in seeing any data you have (and I'm not being facetious) that gives stats about the amount contributed versus amount received for SS and MCare. We know it's a Ponzi scheme, but by what rate?

While Congress and the media may claim that more than 50% do not pay income taxes, and I don't have the figures readily available, those who make use of the EIC effectivelydo not pay income taxes. They receive money that more then exceeds what they may have deducted from their check for MCare and SS (and FW), negating the contribution.
__________________
Your life is the sum total of the choices you make.
If you don't laugh at yourself, a whole bunch of people will volunteer to do it for you
I never lose. I either win, or I learn....
Reply With Quote
The Following User Says Thank You to GottaGo For This Useful Post:
  #15 (permalink)  
Old 12-18-2017, 01:49 PM
FrancSevin's Avatar
Runs with scissors
 
Join Date: Mar 2014
Location: St Louis MO
Gender: Male
Posts: 12,514
Thanks: 7,611
Thanked 10,543 Times in 5,955 Posts
Default Re: Tax cut bill goes public as GOP slashes rates for the wealthy, nixes Obamacare pe

Quote:
Originally Posted by GottaGo View Post
If you want to view it as an 'employee tax that is paid off the top', that's your prerogative, though I don't think you'll find many in the field that would agree with you.

I would be interested in seeing any data you have (and I'm not being facetious) that gives stats about the amount contributed versus amount received for SS and MCare. We know it's a Ponzi scheme, but by what rate?

While Congress and the media may claim that more than 50% do not pay income taxes, and I don't have the figures readily available, those who make use of the EIC effectivelydo not pay income taxes. They receive money that more then exceeds what they may have deducted from their check for MCare and SS (and FW), negating the contribution.
The fact that "people in the field" don't agree with me IS my point. And stats on who does and who doesn't, changes nothing. Money contributed versus money refunded doesn't matter to my point either.

Once the SCOTUS determined SS was a tax it matters not how the employer views it. It is a tax on our incomes no matter who pays.

Or did you think employers gladly fork over those trust accounts? (as employer you should know better).

As for the EIC,,,; THAT re-distribution of wealth program is a whole nuther matter.
__________________
I am going to hang a Batman Costume in my closet. .......... Just to screw with myself when I get alzheimer's.
sola gratia, sola fide, sola scriptura.

I AM NOT A REPUBLICAN, I AM A FREEMAN, THE DEMOCRATS WORST NIGHTMARE
Reply With Quote
Reply

Tags
bill, cut, for, goes, gop, nixes, obamacare, penalt, public, rates, slashes, tax, the, wealthy

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 05:15 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2018, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0