No. of Recommendations: 3
The Social Security tax limit is 4.2% of your wages up to $110,100. Normally the rate is 6.2% of your wages up to $110,000. However Obama reduced the percentage to 4.2%, wich increased national debt, hav ing to make up the difference from the general fund. If you are like me I pay (right now) 4.2% of all my wages, because I don't make more than $110,000 a year. I believe by limiting the amount we are taxed on to $110,00 reduces the amount of money going into the system by a huge amount. I think its only fair for everyone to be taxed on their full yearly income. Doing so would bring new money into the system.
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