YES! Everyone should be taxed on 100% of their income.
90%
NO! But the cap should increase beyond $117K.
10%
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Thom's Blog Is On the Move
By webmaster
Hello All
Thom's blog in this space and moving to a new home.
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Of course it should be eliminated. But more than that, all people should pay into social security. NOT just those people who work for a living (earned income, payroll taxes) but also those freeloaders who do NOT work who have passive wealth. (investment income)
I agree with trueblue313. By lifting the cap and including all sources of income whether from wages, dividens, capital gain, etc. we could probably even lower the % which would help lower income people.
I agree 100% with trueblue and arky. Treat investment income the same as income from wages and tax it all for FICA.