Cycling Mob Cycling Forums - View Single Post - "Humans 'very likely' making earth warmer" is wrong

02-14-2007, 05:36 AM

>>>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.
>>
>>>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.
>
> The very succesful self employed have smart accountants and pay less tax
> as a percentage of income than joe public.

With all the tax software out there anyone with a computer can pay a lot
less than the advertised rate.

02-14-2007, 05:36 AM	#654 (permalink)
no spam Posts: n/a	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. >> >>>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. > > The very succesful self employed have smart accountants and pay less tax > as a percentage of income than joe public. With all the tax software out there anyone with a computer can pay a lot less than the advertised rate.