Comments on: FICA Tax Rates 2011 – How They Work and Why They Matter

By: Robert Mackle

Robert Mackle — Thu, 02 Feb 2012 11:30:56 +0000

@Lola, Don't know what to say. Perhaps France or Germany might be more to your liking? Everyone wants to complain about America, but no one wants to leave America!

By: Lola

Lola — Thu, 02 Feb 2012 05:09:05 +0000

@Robert,
I being of the middle class find this tax totally unfair. I have a business that I could not afford to hire anyone this year. My regular taxes taken from my paycheck was 9100.00 then they hit me with this tax, of 8674 more . I can not run and operate a business on this kind of tax. I can’t pay more while the wealthy are not and jobs and factories are out of the country. This is not fair……I am barely hanging on and barely paying my bills and having to really watch the pennies so to speak….hard ot get used to having to sacrifice like this. This is not America———-

By: Mr Brown Wilson

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By: Chase

Chase — Thu, 22 Dec 2011 21:07:53 +0000

@John, WELL SAID! Wealth and class envy have almost destroyed this nation. Whole groups of citizens are blinded with hatred because of these twin evils. Weap for your country.

By: Chase

Chase — Thu, 22 Dec 2011 20:57:38 +0000

@Rich A., Does "from each according to his ablity, to each according to his need" sum up what you are saying, Rich A.?

By: T Holloway CPA

T Holloway CPA — Tue, 20 Dec 2011 20:17:23 +0000

Congress could raise the threshhold from 108600 to 127300, make the cuts permanent and still raise the same amount of FICA contribution that they raked in without the 2% cut.

By: John

John — Wed, 16 Nov 2011 23:48:41 +0000

@etan, The highest top marginal corporate tax rate was 52% from 1952 – 1963 and 52.8% (48% plus the 10% LBJ ‘surtax’ to finance the Vietnam War) from 1968 – 69.

Because of their ignorance, those who clamor for higher corporate income taxes don’t recognize that such taxes are the most regressive taxes of all because EVERYBODY pays corporate taxes – they are built into every product you buy, and you pay the same tax whether you are a millionaire or a pauper.

AND, it has the added benefit of reducing disposable income for the poor which reduces demand for staples which serves to bring down prices for me.

Being in the middle class and a self-employed professional (CPA), I actually favor higher corporate taxes and lower individual taxes. That way I’ll pay less total taxes and the and the poor will pay more.

You corporation haters just keep it up…I’m loving watching you cut off your noses. Makes me laugh and laugh. Stupid people are fun to watch.

Heck, let’s abandon the income tax altogether and institute a VAT tax like Europe. That the most regressive ‘hidden’ tax of all – and EVERYBODY pays. Low income groups suffer the most – but hey they feel good ’cause they are taxing those mean ol’ corporations.

By: John

John — Wed, 16 Nov 2011 23:26:28 +0000

@John, ‘twice’, ‘receive’, ‘lives’ – I’m not a good typist and don’t necessarily want to be.

By: John

John — Wed, 16 Nov 2011 23:20:35 +0000

@RD Gator, What is not fair is that they will not get a higher Social Security benefit regardless of how much they pay in. To reverse the 'spin' you put on your simplistic (and simple-minded) question, What is fair about a person who dropped out of high school, likely went on unemployment for many months if not years because of their lack of education and initiative, never invested in their retirement, likely worked less than 30 years in their entire lives, yet getting the same retirement benefit as some one who stayed in school, worked in a non-union job where they actually had to perform or get fired, didn't get 24 paid holidays and 4 weeks vacation every year, had to work 40 years (instead of 30 or less like most union members) while paying in the maximum in social security taxes for 3 to 4 decades? What is fair about that?

By: John

John — Wed, 16 Nov 2011 23:11:30 +0000

@etan, Unforttunately (for you) you are wrong. Corporate tax rates were NEVER ’90ish %’. The top personal individual income tax rate was 90% into and after WWII, right up until JFK was elected. JFK asked Congress to lower the top marginal individual tax rate to 70% and the top marginal tax rate on earned income (wages & self-employment) to 50%. That was JKF…the crown prince of the Democrat/Socialist/Liberal Party.

Seems to me that if the personification of Christ for all Democrats (JFK) thought lower individual income taxes were good for the nation and the economy then it should be good enough for all you Johnny-come-lately under-achievers.