Posted by Scott in SF on August 24, 2012 at 22:26:51 from (75.61.89.102):
In Reply to: Re: Middle class posted by oldtanker on August 24, 2012 at 20:59:17:
Rick, most people (not rich) pay more in payroll taxes, Social Security and Medicare than they do in income taxes. Far more than the rich contribute to the total US revenue. At a certian rate rich people stop paying those completely. I, now retired public employee, haven't paid any social security since 1987. I won't get it won't miss it. It was a blessing I didn't have to flush 7.5% of my income down that sewer. When I get income off of a rental I don't pay SS or Medicare on that. I am rather well off, and the taxes I pay mostly are real estate. All the fees charged by the city, county, state (like the University for the kids)and all the special districts keep going up, and the poor get hit the same as the rich. You are right about Income Taxes but it is the Social Security and Medicare taxes (and there is no real trust fund) that fund this country (along with a bunch of borrowed money). Income taxes are a small part of it.
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