| Re: "Humans 'very likely' making earth warmer" is wrong
>>Fourth, there is no way the SS system will last much longer. When it
>>reaches the point where you have just 2 or 3 workers to support one SS
>>recipient AND welfare AND the rest of the other government expenses they
>>will just say 'screw this'.
>
> Fortunately there are also self employed paying
> into social security. There are a very large number
> of people who do pay SS withholding taxes, but they
> effectively contribute nothing because they get a tax
> credit for having kids.
My point still stands. The system can not be supported much longer. The
drain will be just too much.
>
>>There is already a fairly large 'under the
>>table' and barter economy going out there that is not taxed now. How
>>large
>>do you thing its going to get when 50+% of wages are going to taxes?
>
> It is already 50+ for many people, for very successful
> self employed, the tax rate is 33 percent on the amount over
> a certain amount, and the self employment SS taxes are
> 15.3 percent, plus local and state income tax and sales
> tax on some things and real estate tax and personal
> property tax.
> And if they have employees, there is state and
> federal unemployment tax, 7.65 percent SS contribution
> on all of the employee earnings, plus workers compensation
> taxes,
True but when Joe Smuck can look at his pay stub and see he's only bring
home $1 out of every $2 he's worked for I think things will change. For one
thing if he's getting that big of a shaft think how much the people you are
talking about are getting. They'll have to raise the top tax rate to 90%
again.
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