Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (56) | Ignore Thread Prev | Next
Author: fleg9bo Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19218  
Subject: Re: Obama on payroll tax Date: 6/16/2008 8:53 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Personally, the "donut hole" between $102k and $250k that Obama leaves me scratching my head. Does this make sense to anyone?

It makes sense only because Obama has said many times that he will not raise taxes on anyone who makes less than $250k per year. That has to include SS taxes. So if you make under $250k, you pay what you've been paying all along like everyone else--SS tax on income up to $102k. But if you make over $250k, then the SS tax kicks back in on everything you earn over $250k. So you pay SS tax on the first $102k plus everything over $250k.

What I haven't heard addressed is whether he intends to keep the taxes on cap gains and dividends the same for incomes under $250k. If not, that will leave toothmarks in a lot of retired butts.

--fleg
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (56) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Macro Economics

Intel's Broadwell Potential
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement