The following is a quote from the SS 2100 legislation summary. I don’t know about you, but I resent being manipulated.
Millionaires and billionaires? People who have wages above $400,000 a year are not the millionaire and billionaire scapegoats we hear about.
In fact, Warren Buffet’s wages are $100,000 a year.
This it pure pandering. The real money is coming from the gradual increase in the payroll tax rate to 7.4%
“Have millionaires and billionaires pay the same rate as everyone else – Presently, payroll taxes are not collected on wages over $132,900. This legislation would apply the payroll tax to wages above $400,000. This provision would only affect the top 0.4% of wage earners. [Sec. 201, 202]”
Categories: Social Security