tag:blogger.com,1999:blog-1394468811677580882.post1659075971414133875..comments2023-08-01T08:08:53.329-04:00Comments on WELCOME TO BARRY'S WORLD: OptionsUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1394468811677580882.post-20195627927723355552008-11-17T11:44:00.000-05:002008-11-17T11:44:00.000-05:00Even if he doesn't take away the SS cap, at $100K,...Even if he doesn't take away the SS cap, at $100K, which was my example, taxes will still be significantly higher in the USA compared to Canada.Edhttps://www.blogger.com/profile/13750286862065420283noreply@blogger.comtag:blogger.com,1999:blog-1394468811677580882.post-85912061040271219472008-11-17T11:07:00.000-05:002008-11-17T11:07:00.000-05:00Also, @scott, he won't "ask" those making over $25...Also, @scott, he won't "ask" those making over $250k to pay more. He'll *tell* them to.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1394468811677580882.post-57096265782601547362008-11-16T21:31:00.000-05:002008-11-16T21:31:00.000-05:00Scott you can't possibly think Obama will not lift...Scott you can't possibly think Obama will not lift the cap fully for everyone. Unless we are now in a new paradigm where just because Obama says something it shall be so. Don't tell me you also think you'll also get a tax cut since you make under $250K a year.<BR/><BR/>Truth of the matter is one two things will happen with SS. Taxes will have to go up by insane amounts or benefits will have to be cut by insane amounts. Adding 2% extra for 1% of the population won't do more than keep the ponzi scheme alive a few months.<BR/><BR/>So the choice is do you lift the cap on "rich" people making more than $100K a year that don't vote for you anyway and so doesn't matter if you piss them off? Or do you cut benefits for old poor people who vote for you and you want them to keep voting for you?<BR/><BR/>Answer that and you will answer the question of will the cap be lifted fully.Edhttps://www.blogger.com/profile/13750286862065420283noreply@blogger.comtag:blogger.com,1999:blog-1394468811677580882.post-31971377208978514142008-11-16T15:08:00.000-05:002008-11-16T15:08:00.000-05:00Look I am no defender of Obama, but you have the w...Look I am no defender of Obama, but you have the whole social security tax thing WRONG and you've said it about half a dozen times, so...<BR/><BR/>It's not going to be uncapped, nor will it tax you from the current limit up to $250K. Above $250K it will be 2-4% extra (employer and employee amounts)... Does this suck? Yes, but is it what you say it is? Not even close.<BR/><BR/><I><B>Obama does not support uncapping the full payroll tax of 12.4 percent rate. Instead, he and Joe Biden are considering plans that would ask those making over $250,000 to pay in the range of 2 to 4 percent more in total (combined employer and employee).</B></I><BR/><BR/>http://www.barackobama.com/issues/seniors/Unknownhttps://www.blogger.com/profile/04341481192111647304noreply@blogger.com