The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: 102% tax rate||Date: 2/5/2012 4:06 PM|
|Author: JAFO31||Number: 114963 of 123001|
stockmover: "If you look at my bolded part its obvious that $106,800 cap is not fair, favors the wealthy and should be eliminated. I suspect if that were to happen that the total SE tax rate % would be significantly reduced for everyone.
This may seem simplistic, but I believe it would result in a fairer SE tax system. Of course this does not address the wealthy individuals who derive their income solely from capital gains and dividend income.
Are you also increasing the payments to those who pay more?
For an individual who first becomes eligible for old-age insurance benefits or disability insurance benefits in 2012, or who dies in 2012 before becoming eligible for benefits, his/her PIA will be the sum of:
(a) 90 percent of the first $767 of his/her average indexed mo