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"Principally, these are payroll taxes, which are levied this year on the first $110,100 of wage income for Social Security and all wage income for Medicare. Indeed, four-fifths of all taxpayers pay more in payroll taxes than federal income taxes as a percentage of income. The crossover point is about $100,000 in wage income. (By definition, the statistic counts the employer's share of payroll taxes as a burden on the worker.)"


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Actually, NO


they are payroll deductions - the feds take out your SS and Medicare, and tell us it is carefully put in a lockbox so when you retire, YOUR money will be there to pay you SS and Medicare benefits.


Right?

the feds are 'carefully investing it' in T-bills while it sits there in your personal lockbox, ready to pay you full benefits you are ENTITLED TO when you decide to retire.

Got it?

It's not a tax!

No more than your 401K or IRA 'contribution'.


----

You forgot to speak 'governmentese'. Remember, ObamaKare is just 'penalities'....not an illegal tax...just a penalty if you don't comply.

SS is just a 'contribution' to your retirement account.

Kapisch?

Thus, the statement is true. 47% of all earners don't pay federal taxes.



t.
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