Tuesday, July 05, 2005

Candidate Paul Hackett wants to increase middle-class Social Security taxes by up to $7,440 per year

From Hackett's web site:

...instead of capping Social Security taxes at $90,000 of income, let’s kick that number up to $150,000. (I’d like to take credit for the idea, but Warren Buffet thought of it first.) This simple step would eliminate much of the Social Security shortfall.

At the 12.4% rate (6.2% employer + 6.2% employee) that can be as much as an additional $7,440 (12.4% * 60,000) on middle-class Ohioans. If no additional benefits are included with this increase that's tantamount to stealing. Besides that, Raising the Social Security Payroll Tax Cap Does Not Fix Social Security.


Anonymous Eric Kephas said...

Are you surprised? This guy is just Charles Sanders wrapped up in a flag.

July 9, 2005 at 1:43 AM  

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