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.

1 Comments:

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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