Would you support a pause in FICA? Say from the current rate of 130k thru 250k would be FICA free but every dollar after 250k would be taxedFlumper wrote: ↑Tue Aug 11, 2020 3:32 pm$30,900 in 10 years seems like quite a lot.
29% in 10 years? That has to be more than inflation. That's averaging around 3%
Actual inflation the past 10 years.
2019 2.3
2018 1.9
2017 2.1
2016 2.1
2015 0.7
2014 0.8
2013 1.5
2012 1.7
2011 3.0
2010 1.5
in fact, looking at it, i would guess that the adjustment each year is based on inflation.
Wuhan Coronavirus
Moderator: Biker
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Re: Wuhan Coronavirus
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Re: Wuhan Coronavirus
I am really not sure what my thoughts on it are. I have never really sat down and laid out the entire system to think through how it is actually funded.Biker wrote: ↑Tue Aug 11, 2020 7:24 pmWould you support a pause in FICA? Say from the current rate of 130k thru 250k would be FICA free but every dollar after 250k would be taxedFlumper wrote: ↑Tue Aug 11, 2020 3:32 pm$30,900 in 10 years seems like quite a lot.
29% in 10 years? That has to be more than inflation. That's averaging around 3%
Actual inflation the past 10 years.
2019 2.3
2018 1.9
2017 2.1
2016 2.1
2015 0.7
2014 0.8
2013 1.5
2012 1.7
2011 3.0
2010 1.5
in fact, looking at it, i would guess that the adjustment each year is based on inflation.
But, I have done this much thinking on it. Let's say you are a person that pays the max every year. For 2020 you will have paid in (between you and the employer) 12.4%. And the cap is $137,700. That means you paid $17,074.80. And 20 years ago you paid in around $9,920. So, in 20 years you have paid somewhere in the neighborhood of $13,497 x 20 = $270,000. so, let's just say that over your entire life, you paid in $325,000. Now, what you can get out varies ridiculously, but let's say you would get $2400 per month back. That would be 135 months. 11 years to get it all back.
Of course we are talking about no interest accumulation. But, we are also talking about the top of the pyramid in terms of earnings and savings. And even at that you get 100% of your money back in around 11 years. So, what little thought I have put into it, the system seems to make no sense at all to me. I have no idea how they come up with the cap. The amount of the withholding. Any of it.
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Re: Wuhan Coronavirus
But that employee only really pays 6.2%, right? I get that from an employers point of view that 6.2% of 137k is part of the total compensation but an employee never had that in his check to begin with. For example, its not as if the employee receives a 12.4% bump after they hit the capFlumper wrote: ↑Tue Aug 11, 2020 7:34 pmI am really not sure what my thoughts on it are. I have never really sat down and laid out the entire system to think through how it is actually funded.Biker wrote: ↑Tue Aug 11, 2020 7:24 pmWould you support a pause in FICA? Say from the current rate of 130k thru 250k would be FICA free but every dollar after 250k would be taxedFlumper wrote: ↑Tue Aug 11, 2020 3:32 pm$30,900 in 10 years seems like quite a lot.
29% in 10 years? That has to be more than inflation. That's averaging around 3%
Actual inflation the past 10 years.
2019 2.3
2018 1.9
2017 2.1
2016 2.1
2015 0.7
2014 0.8
2013 1.5
2012 1.7
2011 3.0
2010 1.5
in fact, looking at it, i would guess that the adjustment each year is based on inflation.
But, I have done this much thinking on it. Let's say you are a person that pays the max every year. For 2020 you will have paid in (between you and the employer) 12.4%. And the cap is $137,700. That means you paid $17,074.80. And 20 years ago you paid in around $9,920. So, in 20 years you have paid somewhere in the neighborhood of $13,497 x 20 = $270,000. so, let's just say that over your entire life, you paid in $325,000. Now, what you can get out varies ridiculously, but let's say you would get $2400 per month back. That would be 135 months. 11 years to get it all back.
Of course we are talking about no interest accumulation. But, we are also talking about the top of the pyramid in terms of earnings and savings. And even at that you get 100% of your money back in around 11 years. So, what little thought I have put into it, the system seems to make no sense at all to me. I have no idea how they come up with the cap. The amount of the withholding. Any of it.
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Re: Wuhan Coronavirus
Yeah, the employee pays 6.2% and the employer pays the other half of 6.2% for a total of 12.4%. Now, if you work for yourself or you own the company, then you are essentially out of pocket for the entire 12.4%. Either way, that's how much (12.4% is going into your person SS account with the government each paycheck).Biker wrote: ↑Tue Aug 11, 2020 7:40 pm
But that employee only really pays 6.2%, right? I get that from an employers point of view that 6.2% of 137k is part of the total compensation but an employee never had that in his check to begin with. For example, its not as if the employee receives a 12.4% bump after they hit the cap
Now, maybe a more novel approach would be to cap the employees side of the SS withholding at the way it is done now. In other words, once you hit $137,700 you stop having 6.2% withheld from your check. But the employer continues to pay his 6.2% above and beyond that $137,700 to infinity.
And, following that logic, if you are self employed, then your "self employment tax" of 12.4% drops to 6.2% once you hit $137,700.
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Re: Wuhan Coronavirus
Florida sheriff forbids employees, visitors to wear masks: If they do, 'they will be asked to leave'
https://www.usatoday.com/story/news/nat ... 352799001/
So, mandating that we wear a mask (during a deadly pandemic) is authoritarianism, but forcing those who do wear masks to take them off is freedom?
https://www.usatoday.com/story/news/nat ... 352799001/
So, mandating that we wear a mask (during a deadly pandemic) is authoritarianism, but forcing those who do wear masks to take them off is freedom?
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Re: Wuhan Coronavirus
House passed their bill in May
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Re: Wuhan Coronavirus
13 DAYS AFTER HIS DEATH, HERMAN CAIN 'TWEETS' ABOUT BIDEN-HARRIS
https://www.wusa9.com/amp/article/news/ ... 83c2448e24


https://www.wusa9.com/amp/article/news/ ... 83c2448e24


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Re: Wuhan Coronavirus
BLATANT PROPAGANDA TRYING TO INFLUENCE THE OUTCOME OF THE ELECTION THE RIGHT IS REDUCED TO COPY-PASTE CARTOONS!!!!!!!
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Re: Wuhan Coronavirus
Look at what have you done.
biker post memes from people who can't even speak English correctly
I blame Biker.
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Re: Wuhan Coronavirus
THIS IS STRANGE: Report Shows 2020 with Lowest Number of US Deaths Since 2009
AUGUST 13, 2020
News Source: The Gateway Pundit
In June we reported that according to updated data, US mortalities in 2020 were not materially different from the previous 5 years. We posted updated data through week 34 in the 2019-2020 season.
Now there is a report at PrimaryDoctor.org by Colleen Huber, NMD, that reveals total US deaths this year in 2020 are actually lower than annual US deaths in 20 of the last 21 years.

AUGUST 13, 2020
News Source: The Gateway Pundit
In June we reported that according to updated data, US mortalities in 2020 were not materially different from the previous 5 years. We posted updated data through week 34 in the 2019-2020 season.
Now there is a report at PrimaryDoctor.org by Colleen Huber, NMD, that reveals total US deaths this year in 2020 are actually lower than annual US deaths in 20 of the last 21 years.

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Re: Wuhan Coronavirus
I'm waiting for Stapes to come in and remind us that Obama was president in 2009.
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Re: Wuhan Coronavirus
We average from 2.5 to 2.8 million deaths every year. What is your point? 2020 isn't even over....... If we hit 300,000 deaths from covid-19 that would fit very easily into that margin depending on other factors. Your point is kind of stupid
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Re: Wuhan Coronavirus
it accounts for the fact that its mid-year in 2020. And its also adjusted for "per capita" results. both of which negate your statement of "what's your point?"
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Re: Wuhan Coronavirus
Arent you presuming that all of those people would not have to died this year?
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Re: Wuhan Coronavirus
There are so many presumptions he is trying to make that it's absolutely ridiculous. Number two I don't believe a fucking thing he posts as being accurate
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Re: Wuhan Coronavirus
who is "he"?Stapes wrote: ↑Thu Aug 13, 2020 8:22 pm
There are so many presumptions he is trying to make that it's absolutely ridiculous. Number two I don't believe a fucking thing he posts as being accurate
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Re: Wuhan Coronavirus
you and whatever point your little chart is supposed to make? Are there going to be less total deaths in the U.S. than last year or the year before that? Maybe. Will there be more? MaybeFlumper wrote: ↑Thu Aug 13, 2020 8:28 pmwho is "he"?Stapes wrote: ↑Thu Aug 13, 2020 8:22 pm
There are so many presumptions he is trying to make that it's absolutely ridiculous. Number two I don't believe a fucking thing he posts as being accurate
What we do know is that 165,000 people are dead and more every day in part because of a failed National Response from the President of United States and his administration who from day one has downplayed its severity and significance. Has dragged his feet every step of the way to admit there was a problem and when finally decided to respond it was half-hearted, disorganized and still to this day incomplete.
Now we have to hear you get on your soap box and blah, blah, blah .........I don't give a fuck about your opinion. He failed and he is going to pay for it on November 3rd.
I blame Biker.