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Originally posted by: alanleroyII
If you're looking for currently untaxable wages to start taxing, a good starting point might be the millions of State and Local government workers in 10 states who are conveniently exempt from FICA SS. Why don't they pay their fair share?
Originally posted by: alanleroyII
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Originally posted by: forkushV
A lot of people think that Reagan and the Democratic Congress negotiated a pretty good way to keep Social Security solvent. But since then, because of rising income inequality, an additional 7% of the nations wages are no longer taxable. My suggestion is a way to correct that.
If you're looking for currently untaxable wages to start taxing, a good starting point might be the millions of State and Local government workers in 10 states who are conveniently exempt from FICA SS. Why don't they pay their fair share?
Since we are talking about fair share.
Person A and Person B work the same number of quarters with the same income under SS. Remember. Everything is the same. Time frame, money earned, years worked.
After everything is calculated and when both are eligible to collect( both are doing this at the exact same time):
Person A gets $1000/month
Person B Gets $500/month
The only difference between the 2 is that Person A gets a private pension of $500/month and Person B has a public pension of $500/month.
