While the "Fiscal Cliff" looms..............

[nynco]

Obama started off with comprise right off the bat. The fool said he would look at "entitlement spending". F' that, don't balance the budget off the backs of the poor and the old when business is making record profits and the uber rich are paying the lowest tax rate in US history. Obama is spineless.

[Teufelhund]

So. . . I'm just curious: Does anyone here have an employer that pays for your vacations? Or is that just reserved for those in the highest of offices and without the approval of those footing the bill (taxpayers)?

[Rucker61]

All the supposed "spin offs" of NASA are propaganda.

Seriously?

[nynco]

If you are going to raise the cap on contributions, then you'll have to raise the cap on benefits. If not, then its not an insurance system paid for by contributions but an entitlement as you denied earlier.

And you are incoherent again, you don't "stop paying" into social security at the cap. You just don't pay more social security taxes above the cap, you still pay the social security taxes for the base amount. Your benefits are also capped.

You don't stop paying into it once you hit the cap? Does a person who makes 1 million pay anymore into Soc Sec than one who makes 250K. No because the CAP is the point where they stop paying into it. So person who pays the full burden at 250K is paying a higher percentage than the person making 1 million.

[Rucker61]

So. . . I'm just curious: Does anyone here have an employer that pays for your vacations? Or is that just reserved for those in the highest of offices and without the approval of those footing the bill (taxpayers)?

I get paid vacations.

[Teufelhund]

I get paid vacations.

And they pay all the expenses too? Sweet! Are you guys hiring?

[nynco]

So. . . I'm just curious: Does anyone here have an employer that pays for your vacations? Or is that just reserved for those in the highest of offices and without the approval of those footing the bill (taxpayers)?

Yeah many employers do for their execs and they then write it off so the tax payers then subsidize their travels. They go to conferences in Cancun for some stupid thing and attend a class or two and then write the whole trip off as a business expense. Happens all the time.

[brutal]

You don't stop paying into it once you hit the cap? Does a person who makes 1 million pay anymore into Soc Sec than one who makes 250K. No because the CAP is the point where they stop paying into it. So person who pays the full burden at 250K is paying a higher percentage than the person making 1 million.

SS tax is capped on an annual basis and resets Jan 1. Benefit payments are also capped. Regardless of what you make, when you hit the cap, the SS tax deduction stops (Medicare does not.) You have paid in the maximum amount required for "guaranteed" benefits that are CAPPED. Where does this $250k number come from? SS employee tax for 2013 caps at $110,100. It's a 6.2% rate (6.2% SS, 1.45% Medicare) on the first $110,100 whether you make $110,100 or $110,100,100. I'll say that again, 6.2% of $110,100 (2012).

When you withdraw (if you get too), you withdraw based on the amount you paid in over your working lifetime. If you made more than the other guy and maxed every year for say 30 years, you get more benefits, but never more than the max allowed, currently $2,384 for a single wage earner. Whether you made $1Mil every year for 30 years, or just hit the cap each year, you get the same benefit payment. So now does the person that made less, but paid in the same amount benefit more? What part of this don't you understand? Do you read your annual SS statement?

[palepainter]

It's a great way to get audited....
k

[Rucker61]

And they pay all the expenses too? Sweet! Are you guys hiring?

Don't I wish. We're hiring in Taiwan and Shanghai. How's your Mandarin?