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Re: Does George Will Understand Social Security Taxes?

 

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Subject Author Date
Re: Does George Will Understand Social Security Taxes? Dick Adams 05-01-2008
Posted by Dick Adams on May 1, 2008, 4:34 pm
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Victor Roberts wrote:

> George Will's column in the current (May 5) issue of
> Newsweek contains a rather strange assertion. ...

It should be noted that George Will is a life-long
fan of the Chicago Cubs. While that allow should
not discredit him, he has written and stated that
he thinks Bud Selig (better known as Bud Light
and Commissioner Kevorkian) has been an excellent
Commissioner of Baseball - an opinion not shared
by any knowledgeable Baseball Researcher with
whom I am acquainted.

The numerical accuracy of his comments is fairly
meaningless. The Tax Code accuracy is somewhat
startling since a two wage earner family making
$100,000 in W-2 income will not pay more taxes if
the FICA limit of $97,500 were to be eliminated.

Removing the FICA will result in an individual
taxpayer who earns $200,000 per annum paying an
additional $3,100 pre year and may have a positive
impact on the longevity of the Social Security
system.

Dick

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Posted by William Brenner on May 1, 2008, 7:54 pm
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Dick Adams wrote:
> Victor Roberts wrote:
>
>> George Will's column in the current (May 5) issue of
>> Newsweek contains a rather strange assertion. ...
>
> It should be noted that George Will is a life-long
> fan of the Chicago Cubs. While that allow should
> not discredit him, he has written and stated that
> he thinks Bud Selig (better known as Bud Light
> and Commissioner Kevorkian) has been an excellent
> Commissioner of Baseball - an opinion not shared
> by any knowledgeable Baseball Researcher with
> whom I am acquainted.
>
(SNIP)

Mr Will is a self described baseball "expert". His
fellow scribes -- many of whom don't know the
difference between a ball and a strike -- take him
at his word and publicize his blather. The same can
be said of much of his political bloviation.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by 123go on May 3, 2008, 10:58 pm
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> Removing the FICA will result in an individual
> taxpayer who earns $200,000 per annum paying an
> additional $3,100 pre year and may have a positive
> impact on the longevity of the Social Security
> system.
>
> Dick


It will also likely cause changes to business plans to move more of that
money into non-employment income, as the high tax payers most likely feel
they are already carrying too much of the burden.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

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