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If we're being pedantic:. oasdi is extremely regressive (no tax at all above like 2x median household income, vs e.g. income taxes which continue ramping up un
by dmoy 2y ago
If we're being pedantic:.
oasdi is extremely regressive (no tax at all above like 2x median household income, vs e.g. income taxes which continue ramping up until closer to 10x median income after becoming flat).
Medicare tax is not capped, and is slightly progressive in that it jumps from 2.9% to (I forget like % higher) at somewhere around 3x median household income.
- Jtsummers 2y agoAh, you're right about Medicare. Not sure where I got that it was capped from. An extra 0.9% for wages over $200k. But yeah, we agree, the individual I responded to is mistaken in calling OASDI a progressive tax. It's regressive since the rate drops.