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IowaGuy

(788 posts)

10. We paid more in FICA 10 years ago than we do today.

Reply to apples and oranges (Original post)

Sat Jan 5, 2013, 11:37 AM

Jan 2013

I went back through my old pay check stubs....ten years ago I earned about 2/3 of what I earn now, yet I paid more in FICA taxes than I do now, even after the expiration of the payroll tax holiday.

This shell game w/ FICA started back in the 80's with Reagan. He cuts taxes on income, capital gains, etc.....raises payroll taxes, and then borrows against the excess money raised for FICA to fund the shortfall in revenues caused by his other so-called "TAX CUTS".

Taking money from the middle class and the poor and shifting it to the rich. Class warfare and income redistribution, indeed!!

As baby boomers get into retirement age, we are now left w/ the connundrum of trying to pay ourselves back, to be able to pay ourselves what we paid in. Reagan and his other trickle-down cultist disciples basically screwed us and people are just now waking up to that.

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I know my timing couldn't be worse, considering all the recent attention from Rush & his trolls [View all] apples and oranges Jan 2013 OP

The Republicans wanted the payroll tax increase because it showed Obama raising taxes plethoro Jan 2013 #1

Yeah, and maybe Obama could remind the GOP that Reagan raised taxes 11x, 9x on the middle class. JaneyVee Jan 2013 #2

K&R SunSeeker Jan 2013 #3

Agree he should address the nation about this Freddie Jan 2013 #4

Here's an interesting take on how the Rs are portaying this: 2naSalit Jan 2013 #5

I've had to corrrect a lot of people hfojvt Jan 2013 #6

Roughly as predictable as gravity.. Fumesucker Jan 2013 #7

Oh Really? (O'Rielly get it?) xtraxritical Jan 2013 #15

good idea warrprayer Jan 2013 #8

It was an extremely bad idea that can't be explained in sound bites TheKentuckian Jan 2013 #9

Well here is the bottom line humbled_opinion Jan 2013 #18

We paid more in FICA 10 years ago than we do today. IowaGuy Jan 2013 #10

You did not pay more. former9thward Jan 2013 #19

Obama and Congress gave those who pay payroll taxes a 2-year or so holiday during which JDPriestly Jan 2013 #34

Here is what the poster said: former9thward Jan 2013 #39

I know that I paid the full amount and that President Obama, as part of the most recent stimulus JDPriestly Jan 2013 #40

to bad we couldn't have a discussion about making the 2% permanent and getting even by klyon Jan 2013 #11

WOW your post makes too much sense for some here.... n/t humbled_opinion Jan 2013 #16

+1 NCTraveler Jan 2013 #22

If you makes the 2% permanent, employers would want their shared matched and that would officially plethoro Jan 2013 #30

We should raise the cap. JDPriestly Jan 2013 #35

Media outlets don't explain anything about any of our programs, whether its SS or Medicare or dkf Jan 2013 #12

No. Obama should never have given the holiday in the first place. JDPriestly Jan 2013 #13

He shouldn't have given the holiday abelenkpe Jan 2013 #14

Michael Hudson is, of course, right. But the political will to, for example, fund Social Security JDPriestly Jan 2013 #33

Enjoy your stay; greiner3 Jan 2013 #28

Justifying it might be a lot easier if we didn't still have massive tax breaks for the 1% bread_and_roses Jan 2013 #17

Restoring FICA is the right thing to do... shrdlu Jan 2013 #20

Good and informative post. NCTraveler Jan 2013 #21

Are you aware that RUSH LIMBAUGH used your post on his show? JaneyVee Jan 2013 #36

Yes. Do you have anything to say about the post you are replying to? nt. NCTraveler Jan 2013 #41

Nobody could have seen this coming... hay rick Jan 2013 #23

Too bad others, self included, weren't as astute. shrdlu Jan 2013 #25

Just a few quick points and you may not like them.... OldDem2012 Jan 2013 #24

I wish you the very best of luck in this new year, sir. Your post rings with a certain plethoro Jan 2013 #31

Thanks, and I sincerely hope that YOU become decidedly more optimistic. nt. OldDem2012 Jan 2013 #32

There are ways of having a 4.2% rate for lower wage workers and paying into Social Security. bluestate10 Jan 2013 #38

"Most media outlets are doing nothing to help Americans understand what's really going on," nt patrice Jan 2013 #26

And lost in all of this is the fact that PO apparently didn't think that we NEED to end the holiday. patrice Jan 2013 #27

You're timing couldn't be better..... wandy Jan 2013 #29

Obama still has the upper hand on the debt ceiling and sequestration. bluestate10 Jan 2013 #37

This isn't going to be a problem ... and this is why ... JoePhilly Jan 2013 #42