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In reply to the discussion: The payroll "tax" is not really a tax... [View all]WCGreen
(45,558 posts)18. It's only looked at as a tax because it is tied to the amount you earn and is a mandatory
contribution to your personal FICA fund. Your contribution determines your benefit.
It is a mandatory retirement and disability insurance fund.
So call it a tax. I honestly don't care.
To me, I look at the intent and the implementation of the program to determine what it really is.
So call it a tax hike. Go after Obama and the dem's in the Senate if you will for caving or what ever it is that you want to do.
But I think it is best to let this 2% "tax" cut expire for the good of the Fund.
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The media and pols do a disservice by not explaining this. They want to make it sound like Obama
kelliekat44
Jan 2013
#1
If you want SS to provide a decent standard of living you need to advocate to increase the tax.
dkf
Jan 2013
#2
but you don't know that each and every worker in the 1930s were doing this, do you?
CTyankee
Jan 2013
#29
Small Business Owners and Freelancers have been paying 13% to 15%, and we have to pay more?
AZ Progressive
Jan 2013
#44
To me the FICA tax makes the idea of Social Security as a persons contribution...
WCGreen
Jan 2013
#10
You say, "We can all quibble ..." No. We can't. I'm not quibbling with you.
AnotherMcIntosh
Jan 2013
#15
It's only looked at as a tax because it is tied to the amount you earn and is a mandatory
WCGreen
Jan 2013
#18
The irony is that most people did not even notice they got the "tax cut" but....
kentuck
Jan 2013
#12
Payroll taxes, imo, are taxes subject to income taxes if, and when, politicians are willing
indepat
Jan 2013
#21
Everything you said is true and accurate and I'm surprised there aren't more recs.
Poll_Blind
Jan 2013
#22
You realize FICA tax rate has been raised a few times before right? It hasn't
SWTORFanatic
Jan 2013
#32