[lbo-talk] Tuff Lib'rul

Wojtek Sokolowski sokol at jhu.edu
Fri Jan 30 13:06:25 PST 2004


Luke:
> Maybe, but I'd imagine much higher rates on any income earned in
excess of
> $150,000 would go a long way towards providing the money needed by the
> public sector.
>

For one thing, lifting the $87k wage cap on social security tax and treating stock options as taxable wages would go a really long way in "saving" social security. Just think: a corporate CEO raking in $7m per annum in stock options would result in the following: - $525 k SS tax from the CEO - $525 k SS tax from the company that endowed the louse with such lavish perks - $1+m SS tax total

That is more in a year than an average wage slave contributes to SS in his life time. Assume average wage $35k/annum resulting in total SS tax $5,250 times 40 years of toiling = mere $210k in his productive life time.

Remember that next time your so-called "elected representative" tells you that SS is "broken" and needs "fixing."

Wojtek



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