3 ms·
> And yet we keep hearing about how the rich get out of paying taxes. They'll say that you're not counting payroll taxes, notably SS. They'll complain about t
by anamax 17y ago
> And yet we keep hearing about how the rich get out of paying taxes.
They'll say that you're not counting payroll taxes, notably SS. They'll complain about the cap.
Then I'll point out that benefits are capped too. The reason is that SS advocates used to think that SS shouldn't be paying $500k/year to Ross Perot. They set up SS with a contributions cap because they wanted rich people to ignore it, which they won't if they're paying 15% and not getting anything in return.
I'll close by noting that the folks who hit the cap get much lower return on their "investment" than do folks who make (and contribute) less.