Quote:
Originally posted by Apropos of Nothing
Well, it doesn't rule out means testing. And my memory is fuzzy on this, but doesn't the Social Security tax only apply to the first $80,000 of income? Removing the cap wouldn't be the same as increasing the tax.
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It does, but I think the "middle class" would be pretty surprised to learn that while Kerry would "roll back" the bush tax cuts for the "rich" making over $200k per year, the middle class consisting of anyone making (
per person) between $87,900 (current cut off, I think) and, say, $120k, all of a sudden got a flat increase of 6.2%, or up to nearly $2000.
And that's some nice wordsmithing, because I agree that anyone who "needs" it are not those who would be means-tested out. But that's not a very realistic approach--aren't you already taxed on 85% of the SS payments if your income is over a certain amount (the tax is not 85%, but you pay income tax on that amount). Do you raise that to over 100%?
