A small tax increase would make the essential national retirement program secure for decades, our columnist says, but lawmakers would have to take action.
Still, raising the tax nearly 2.5% on working people is bullshit. Hey guys, we know inflation is hitting hard and most of you haven’t had a meaningful raise…ever but how about if we lower your current and all future earning potential by 1/40th?
Wouldn’t it be more like a 1.25% increase for most people since that part of the payroll tax is split half and half between employers and employees? I might be reading it wrong but sounds like they’re proposing raising the entire 12.8% or whatever it is payroll tax that much. So it’d go from like 6.4% to like 7.7%.
Still, raising the tax nearly 2.5% on working people is bullshit. Hey guys, we know inflation is hitting hard and most of you haven’t had a meaningful raise…ever but how about if we lower your current and all future earning potential by 1/40th?
Wouldn’t it be more like a 1.25% increase for most people since that part of the payroll tax is split half and half between employers and employees? I might be reading it wrong but sounds like they’re proposing raising the entire 12.8% or whatever it is payroll tax that much. So it’d go from like 6.4% to like 7.7%.