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Why do rich people quit paying social security taxes after a certain amount?
Wiki User
∙ 12y ago
The usual rationale is that, after paying in $107K, the uber-wealthy would have little hope of ever collecting as much as they pay in, which is a ridiculous answer - because lots of people will pay in more than they will ever collect. Some people pay in for decades then die before they're old enough to receive their first check. The terminally ill aren't excused from paying their part. The absolute WORSE EXCUSE for not paying your fair share is "Sorry, I'm too rich to pay forever, like the rest of you schmucks do." This "wealth cap" should be removed. Dave Johnson (Fellow of the Campaign for America's Future - CAF) wrote a very good piece about this. It's available on the organization's website and on HuffPo. I highly recommend it.
Another problem is that Social Security taxes are deducted from income, some people make a tiny income on paper and structure their real sources of wealth so that it's something - ANYTHING other than declared income.
Wiki User
∙ 12y ago
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Who gets MY parents social security when they are both dead?
No one will get it. Your parents paid for other people's social security. Just as younger people pay for your parents. Your parents do not have a balance for their social security. The government pays eligible people a certain amount until they die.
Do you need Social Security tax taken out of your paycheck?
If you're asking whether paying social security tax is mandatory, the answer for most people is yes.
What job makes 260000 a year?
People in IT security domain such amount
Is there a certain amount of people that can attend a military funeral?
No
Is challenging people a physical security measure?
Challenging is a physical security measure that is appropriate in certain situations. Places challenging people for security measures is appropriate are prisons and military sites.
What is the poplition?
population is the amount of people in a certain country or state.
How do you get all the charathers on harvest moon?
okay so all you have too do is complete certain requirements like catching a certain amount of fish or getting a certain amount of hearts on people
What is cultural security?
The pro security culture refers to a given culture whereby people working in a certain environment are conscious about their security and that of their surrounding. It is a culture whereby the people feel safe in their environment and take measures to ensure that indeed security is realized.
Why should the president be shown a certain amount of respect?
Presidents should be shown a certain amount of respect because they try to help people, they have a lot of power, and because they are human beings, and we all deserve a certain amount of respect.
What is pro security culture?
The pro security culture refers to a given culture whereby people working in a certain environment are conscious about their security and that of their surrounding. It is a culture whereby the people feel safe in their environment and take measures to ensure that indeed security is realized.
How are people paying bills using the numbers on the back of the social security?
They are not. The red numbers on the back of a social security card are control numbers that verify the authenticity of the card. They serve no other purpose.
What does social security funds pay for?
It helps pay for the people that are retired now....soon people will be paying for us when we are seniors but now we pay for the senior citizens now
