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New "Absolute" - well that's a risky bet.
http://www.ssa.gov/O...A/cbb.html#Series

Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program limits the amount of earnings subject to taxation for a given year. The same annual limit also applies when those earnings are used in a benefit computation. This limit generally increases each year with increases in the national average wage index. We call this annual limit the contribution and benefit base. For earnings in 2009, this base is $106,800.

The OASDI tax rate for wages paid in 2009 is set by statute at 6.2 percent for employees and employers, each. Thus, an individual with wages equal to or larger than $106,800 would contribute $6,621.60 to the OASDI program in 2009, and his or her employer would contribute the same amount. The OASDI tax rate for self-employment income in 2009 is 12.4 percent.


I guess if Obama doesn't freeze the OASDI then you'll win your bet, eh? Unless one thinks that wages won't go up, which is possible I guess, given the state of the economy... :-(

Cheers,
Scott.
New only in america
once you start making more dough you dont have to pay a 12.4% tax that minimum wage earners have to pay until death or retirement, thats equitable that is
New There was a certain logic to it, at one time.
It was intended to be insurance, and there were many more people contributing than collecting benefits. Now, it's a much bigger program and fewer are contributing per beneficiary, so the income limits should be raised (or completely removed) while adjusting the rates as appropriate.

I dunno how other countries handle taxation for social insurance.

Cheers,
Scott.
     Steve Benen on the Republican budget proposal. - (Another Scott) - (87)
         Take away deductions and loopholes - (beepster) - (86)
             That's as likely as their proposed cuts and spending freeze. - (Another Scott) - (85)
                 Um... - (beepster) - (84)
                     You're doing it again... - (Another Scott) - (83)
                         Really, I should read the memo then.. - (beepster) - (80)
                             I keep hearing people say that - (drook)
                             In addition to Drew's comments, here are some more... - (Another Scott) - (78)
                                 Excuse me, but where.. - (beepster) - (77)
                                     You're just using many of their talking points. - (Another Scott) - (2)
                                         I take it you dont smoke - (boxley) - (1)
                                             Nope. - (Another Scott)
                                     Are we talking absolute, or percentage? Inflation adjusted? - (drook) - (73)
                                         what percentage of your working life - (boxley) - (1)
                                             On quitting smoking. - (Another Scott)
                                         Absolute. - (beepster) - (70)
                                             if we raise taxes on booksellers on the web - (boxley) - (65)
                                                 Wouldn't affect it much - (drook) - (54)
                                                     thank you for proving my point - (boxley) - (53)
                                                         It's a pointless one - (drook) - (52)
                                                             ???? - (beepster) - (50)
                                                                 Evidence, please. - (Another Scott) - (3)
                                                                     The cig tax - (beepster) - (2)
                                                                         I've already addressed that. - (Another Scott) - (1)
                                                                             Wait for the next one. - (beepster)
                                                                 Put up or shut up - (drook) - (45)
                                                                     You are on crack, arent' you. - (beepster) - (43)
                                                                         You're putting up a proposition about taxes. - (Another Scott) - (36)
                                                                             cap and trade will get everyone -NT - (boxley) - (35)
                                                                                 It's supposed to be impact neutral to family budgets. - (Another Scott) - (33)
                                                                                     Yep...and the government has never lied to you, have they? - (beepster) - (31)
                                                                                         So you oppose this. What do you support? -NT - (drook) - (30)
                                                                                             Once again - (beepster) - (29)
                                                                                                 read obamas lips, he is lying like every other pol -NT - (boxley) - (2)
                                                                                                     don't tell scott that - (beepster) - (1)
                                                                                                         naw, he is desparate to believe in the dream - (boxley)
                                                                                                 Specifics would be nice. - (Another Scott)
                                                                                                 Couple reminders - (drook) - (24)
                                                                                                     Reminders of what, exactly? - (beepster) - (23)
                                                                                                         A "bill of attainder" is unconstitutional. HTH. -NT - (Another Scott) - (5)
                                                                                                             tell that to the congress re: aig bonus taxes :-) -NT - (boxley) - (4)
                                                                                                                 Notice that talk of that died down in the Senate. - (Another Scott) - (3)
                                                                                                                     Key difference - (beepster) - (2)
                                                                                                                         Back up. - (Another Scott) - (1)
                                                                                                                             read back - (beepster)
                                                                                                         Wasn't my intention to focus on corporate taxes - (drook) - (16)
                                                                                                             what is this recently BS? - (boxley) - (15)
                                                                                                                 The inheritance tax doesn't do that - (drook) - (14)
                                                                                                                     so the state only seizes 45% difference in degree only - (boxley) - (13)
                                                                                                                         So 0.5% would *also* difference in degree only? - (drook) - (12)
                                                                                                                             so one only rents money from the state? - (boxley) - (11)
                                                                                                                                 I'll take a page from Beep's playbook for this one - (drook) - (10)
                                                                                                                                     :-) you said complaining about said tax was recent - (boxley) - (9)
                                                                                                                                         bing bing bing -NT - (beepster)
                                                                                                                                         No, I said calling it a "death tax" was recent - (drook) - (7)
                                                                                                                                             Exactly. -NT - (Ashton)
                                                                                                                                             sure it is - (boxley) - (5)
                                                                                                                                                 Don't be intentionally dense. It's unbecoming. - (Another Scott) - (4)
                                                                                                                                                     I have heard the term death tax since I was a kid - (boxley) - (3)
                                                                                                                                                         Ok. -NT - (Another Scott)
                                                                                                                                                         Waddaya 'spect in a place where Cholmondeley is pronounced - (Ashton) - (1)
                                                                                                                                                             we had "glagow" eddie burns, frank the hunky - (boxley)
                                                                                     so is the fair tax -NT - (boxley)
                                                                                 darn it box...I was saving that one. -NT - (beepster)
                                                                         Poison pills don't count - (drook) - (5)
                                                                             Inventing my position doesn't either - (beepster) - (4)
                                                                                 Try speaking clearly then - (drook) - (3)
                                                                                     You're still asking me - (beepster) - (2)
                                                                                         No, I'm asking you to TAKE a position - (drook) - (1)
                                                                                             Stated above - (beepster)
                                                                     severl ways to even a playing field - (boxley)
                                                             dont think nother gets that -NT - (boxley)
                                                 I'd also be interested in Beep's take. - (Another Scott) - (9)
                                                     For Pete's sake...how hard is it? - (beepster) - (4)
                                                         Let's play Reductio ad absurdum - (Another Scott) - (3)
                                                             And taxes are paid by consumers. - (beepster) - (2)
                                                                 See my other post - (drook) - (1)
                                                                     Thank you. You're much clearer than me. -NT - (Another Scott)
                                                     Just found this today - (drook) - (3)
                                                         Problem with this - (beepster)
                                                         That reminds me.... - (Another Scott) - (1)
                                                             Drucker is only applicable to commodities - (drook)
                                             It would suggest that that 40% ... making *20%* of the gross - (Ashton)
                                             "Absolute" - well that's a risky bet. - (Another Scott) - (2)
                                                 only in america - (boxley) - (1)
                                                     There was a certain logic to it, at one time. - (Another Scott)
                         since the expeditures under discussion is about to pass gdp - (boxley) - (1)
                             Most of that $xxT is guarantees. - (Another Scott)

They're the very devil to clean out of the radiator.
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