reefraff
Active Member
Originally Posted by Rylan1
http:///forum/post/2783160
has this philosophy worked?
... if your employer is a small business owner... they will not have to pay higher taxes if they make less than $250K... and with that said... takes won't be any higher than they were in Reagan years.. which republicans say were good years...
Throwing out the "taxes wouldn't be any higher than during the Reagan years" isn't a legitimate argument. When the tax rates were lowered during the Reagan years a lot of write-offs were removed as well.
Another thing to consider is Social Security which the next president has to deal with. Any possible solution to the solvency issue is going to include removing the cap on FICA taxes. That is an additional 15% tax on income above 94 grand. That isn't a 15% increase, it's 15% more taxes which is around a 25% increase for the employee assuming a 30% tax rate and a 100% increase for the employer. Do you really think it is smart to hit them with an even higher income tax rate as well?
http:///forum/post/2783160
has this philosophy worked?
... if your employer is a small business owner... they will not have to pay higher taxes if they make less than $250K... and with that said... takes won't be any higher than they were in Reagan years.. which republicans say were good years...
Throwing out the "taxes wouldn't be any higher than during the Reagan years" isn't a legitimate argument. When the tax rates were lowered during the Reagan years a lot of write-offs were removed as well.
Another thing to consider is Social Security which the next president has to deal with. Any possible solution to the solvency issue is going to include removing the cap on FICA taxes. That is an additional 15% tax on income above 94 grand. That isn't a 15% increase, it's 15% more taxes which is around a 25% increase for the employee assuming a 30% tax rate and a 100% increase for the employer. Do you really think it is smart to hit them with an even higher income tax rate as well?