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i looked at hubby's pay stub today.

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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:38 PM
Original message
i looked at hubby's pay stub today.
he's less than 3 paychecks away from hitting the cap. just think of all the people who are making way more money than he is who have probably reached the cap.

get rid of the damn cap. just think of all the money that would go into the SS fund.
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midnight Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:42 PM
Response to Original message
1.  I'm not aware of income and cap... What is this?
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NMDemDist2 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:45 PM
Response to Reply #1
2. you don't pay FICA above a certain cap
$75,000 IIRC
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:49 PM
Response to Reply #2
5. it's $106,800. at one time it would
have been $75,000. i reached it once around 1986 when it was $44,000. it's been raised every year except the last 2 years.
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:45 PM
Response to Reply #1
3. when you reach $106,800 they stop
taking out social security.

it's nice that we'll have an extra couple of hundred bucks till january but i'd be willing to give it up to save social security.

medicare does not have a CAP.
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Jack Sprat Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:49 PM
Response to Original message
4. Not only that, but O'Donnell said on his show
that just letting the Bush tax cuts expire would save 4 trillion over 10 years; more saved than any other plan and requires doing nothing aside from just raising the artificial debt ceiling. This is all a teabagger charade.
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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:51 PM
Response to Reply #4
6. It's Obama's charade. He is the one insisting on revenue when it's coming soon enough.
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Angry Dragon Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:57 PM
Response to Reply #6
7. Not for another year and a half
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:59 PM
Response to Reply #7
9. that was the deal, but don't
you think they'll fight obama again in 2012?
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Angry Dragon Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 12:07 AM
Response to Reply #9
10. There will be a fight ......... it could even be a big issue in the election
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-11 11:58 PM
Response to Reply #4
8. but the republicans will not do.
i heard even grover norquist said the bush tax cuts don't count as raising taxes.
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jmowreader Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 10:42 PM
Response to Reply #8
12. Where did you hear that?
I heard him say allowing a tax cut to expire counts as raising taxes.
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DesertFlower Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 12:35 AM
Response to Reply #12
16. last week someone on MSNBC said it.
don't remember who. i was quite surprised.
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Buns_of_Fire Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 06:00 AM
Response to Reply #12
20. What I heard is that he said that allowing the Shit-fer-Brains Tax Cuts to expire would not violate
the almighty "Pledge" -- but that he'd nonetheless oppose allowing them to expire. I see it as a difference that makes no difference, since the elected teabaggers will line up to kiss his pudgy butt either way.
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lumberjack_jeff Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 10:06 PM
Response to Original message
11. SS is a fake issue.
There's no need to raise the cap, but there is a need to raise the top income tax rate(s).

Your hubby is adequately providing for the needs of SS.

The wealthy are not adequately providing for the needs of the country.
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Incitatus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 10:46 PM
Response to Reply #11
14. Right. SS has NOTHING to do with the issue at hand.
However, the cap will have to be raised in the future to keep the program solvent. I have no problem with that. I have no problem with there being no cap.
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Name removed Donating Member (0 posts) Send PM | Profile | Ignore Fri Jul-29-11 10:47 PM
Response to Reply #11
15. Deleted message
Message removed by moderator. Click here to review the message board rules.
 
Incitatus Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jul-29-11 10:44 PM
Response to Original message
13. NO NO NO! Haven't you heard.
Raising taxes on just a few percent of Americans is raising taxes on AMERICANS! And that is baaaaaad.

:sarcasm:
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renate Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 03:22 AM
Response to Reply #13
17. our side has done a pathetically and tragically bad job of explaining this to Joe Average American
I can't help thinking that all of this drama would end in a New York minute if people were helped to understand that Republicans are fighting tooth and nail, prepared to bring down (or at least kneecap) our economy, for the sake of saving some rich campaign donors some coin.

But fair and balanced news has nothing to do with reporting the facts. Each side of the issue deserves equal time.
Just to be sure: :sarcasm:
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Mimosa Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 03:37 AM
Response to Reply #17
18. That is soooo true
It seems we keep fighting each other when we need to fight the liars. Most people don't know a darn thing about how the policies are stacked against them.
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B Calm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 04:46 AM
Response to Original message
19. Damn, I'm skilled labor, I work 55 to 60 hrs a week and just now
made 30 thousand. The income gap in this country sucks!
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Taitertots Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jul-30-11 06:55 AM
Response to Original message
21. The cap is just a huge hustle to make SS a harsh regressive tax n/t
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