The Mudcat Café TM
Thread #78229   Message #1426927
Posted By: Bobert
04-Mar-05 - 06:28 PM
Thread Name: BS: *Strengthening* Social Security...
Subject: RE: BS: *Strengthening* Social Security...
Well, gol danged, Part 2!!! Stop the presses... John, unless someone has made off with his computer, and I are in complete agreement on abolishing the cap... Complete agreement...

What could happen if the cap were abolished is this. The actual percentage taken out ofr Joe Sixpack's check could be reduced from 6.2% to around 5% and the program would still be healthier than it is now. Not only that but the employers share could also be reduced to 5%. This would make the empolyer better able to keep up with ever rising health insurance costs or maybe allow him to hire another worker...

And self employed people would love it. I've been self employed since 1985 when I left social work and that "self employemnt" tax is a burden, especially since about the time you struggle to pay up, in 90 days it's coming back around... I can certainly remember times of having to borrow money to pay my taxes and, with the interest, that ain't no fun at all...

Bobert