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From yesterdays WSJ: "didn't rule out" wage base expansion

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papau Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-03-05 10:38 AM
Original message
From yesterdays WSJ: "didn't rule out" wage base expansion
from the Wall Street Journal's lead story yesterday about paying for the transition to personal/private accounts:

"Administration aides yesterday also didn't rule out expanding the amount of wages subject to the payroll tax."

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REACTIVATED IN CT Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-03-05 12:26 PM
Original message
Wage base expansion..
the most logical way to get more money into the SS system. Anyone who earns over $90,000 per year (current wage base max) should be able to afford to contribute more! Of course, the Admin. won't want to burden businesses with this additional tax (employers have to match employee contribution)so I'd be surprised if this goes thru
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ribrepin Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Feb-04-05 11:49 PM
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3. simple fix
Edited on Fri Feb-04-05 11:51 PM by ribrepin
Employee continues to contribute to Social Security--no cap. Business is exempt after $90,000.
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REACTIVATED IN CT Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Feb-05-05 10:08 AM
Response to Reply #3
4. Over $90,000
Is this a proposal currently on the table?
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ribrepin Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Feb-06-05 05:16 AM
Response to Reply #4
5. I don't think exempting employers over $90,000 is currently on the table
Just my take on the problem. No reason someone making a million dollars a year shouldn't pay more, but business shouldn't be burdened with more taxes right now. It's an insurance program not a investment program.

I plan to write to my congress critters and suggest the idea.
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REACTIVATED IN CT Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-03-05 12:26 PM
Response to Original message
1. Wage base expansion..
the most logical way to get more money into the SS system. Anyone who earns over $90,000 per year (current wage base max) should be able to afford to contribute more! Of course, the Admin. won't want to burden businesses with this additional tax (employers have to match employee contribution)so I'd be surprised if this goes thru
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REACTIVATED IN CT Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-03-05 12:26 PM
Response to Original message
2. deleted dupe
Edited on Thu Feb-03-05 12:26 PM by REACTIVATED IN CT
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