On Thu, 3 Mar 2005 13:46:35 -0600, Horn, John <[EMAIL PROTECTED]> wrote:
Behalf Of JDG
In recent weeks it has become clear that President Bush has floated a trial baloon regarding lifting the current cap on income subject to Social Security tax. Right now, income over $100,000 is exempt from the 12.5% Social Security tax. I believe that when asked about it, President Bush said something to the effect of "everything is on the table."
Which is, of course, a long, long, LONG way off from saying that Bush is "proposing" to raise this cap. Either that or he is "proposing" to invade Iran as well by saying all options are on the table there.
Good point. Keep in mind that Bush is trying to sell an unpopular plan and that the object is to line the pockets of his friends. He'll say and do anything to achive this goal as we've seen time and again.
A question on the subject: SS is a payroll tax, right? So the (actually 6.2% from the individual) amount of income taxed would be limited to the employees regular pay? How about other forms of compensation such as stock options?
-- Doug _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
