Hi, I live in the UK and pay 22% income tax and 7% National Insurance (NHS). I also have to pay $180 per month for local council tax. I'm paying on average $1500 per month tax to the British Government. Thats before food, gas, electric, insurance, mortgage, motor costs etc... and i'm a construction worker. How does that compare with u guys in the US?? Oh i forgot to mention I also pay motor road tax of $200 every 6 months to keep my car on British roads.
"All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills." - The United States Constitution; Article 1, section 7 (<-- buy a copy).
Since the Congress has Constitutional Authority to do so, they later passed laws allowing for the systematic deduction from your wages. It's more efficient.
Actually that is incorrect. The wording the constitution gives on taxing your wages is that money must be apportioned. Basically is needs to be redistributed. Social Security and Medicare seem to fit that definition assuming the money is actually spent where the pay stub says it's going. Even that video you referenced mentions this fact.
Ron Paul is a "Real Republican" for America like Lincoln was! Remember we can all complain and say how bad it is but until you stand up to corporate run governments like ours and take a stand it will not be tolerated, search for "Federal Reserve Fraud" and see who runs and owns America, it is not the people! But with Ron Paul it can be! VOTE RON PAUL 2008
Good ?,my thoughts is if we as working people have to be taxed,why can we not be taxed in the form of a sells tax instead of an earnings tax.I feel this would help to grow the economy by taxing the imagrates,drug dealers,rich and poor on the same level and maybe the richest should still pay thier 15% on money earned.
Investments, dividends - secondary income isn't taxed like primary income is. Unless of course that secondary income comes from something that actually has value, like music and book royalties or a lottery payout.
Ever wonder why equities traders make up most of the richest people on the planet? How much in tax do they pay on their earnings? And what real value do they actually contribute?
Remember folks, Social Security is _not_ a retirement program and it is _not_ a "savings plan." It is an insurance policy that prevents a worker's income from falling below a certain threshold if he or she becomes disabled or retired. It is not a substitute for saving regularly and routinely for your own health and welfare.
I believe one can opt out of SSI as a whole. If all employees agree??? I now of one person who claims this is the way her company has done this. Not sure about medicare. Maybe some of you who like to research could check it out and educate us. Maybe the author of the video should.
i have done a litte research and the most that anyone pays in is $13500 that is the amount that is taken out on a payroll of $90000 any amount over that is taxed at the same rate as $90000 if you make $900000 you pay $13500 if you make $9000000 in payroll you pay $13500 and it is only a payroll tax stock dividemds are not taxed for it bonuses for ceos are not taxed for it multi million endosment deals for athletes arnt taxed for it it is the most regressive tax in this country
Regular workers cannot "opt out" of Social Security, though clergy can. Only way we could "opt out" of the plan is to vote all supporters of the social security system out of office.
I believe that Federal employees are exempt from Social Security since they have their own Federal Retirement program. My mother worked for the SBA for almost forty years and never paid in. Sadly shortly after retirement she died and got back very little of what she had earned.
Excellent question. I think I know the answer though, for most of them. Congress gets it's own special health and retirement plans, superior to ours. They don't pay into our Medicare and Social Security. I know one of them doesn't participate in those special plans though...
Great question. The better question is -- why shouldnt the fat cats stock gurus, hedge fund managers, AIG execs, pay taxes just like you do?
Most people have no idea that the fat cats pay zero soc sec taxes on Cap gains, and other forms on unearned income.
Not only do they pay no FICA -- zero -- they pay far lower rates than you do on your income tax.
Hopefully Obama will make everyone pay closer to the same -- quit screwing the worker.
MarkDouglasC 2 years ago
Hi, I live in the UK and pay 22% income tax and 7% National Insurance (NHS). I also have to pay $180 per month for local council tax. I'm paying on average $1500 per month tax to the British Government. Thats before food, gas, electric, insurance, mortgage, motor costs etc... and i'm a construction worker. How does that compare with u guys in the US?? Oh i forgot to mention I also pay motor road tax of $200 every 6 months to keep my car on British roads.
darrenpeterlowe 4 years ago
man thats alot of Euros!
jimmyjammy008 4 years ago
lol great question
shrouded60606 4 years ago
"All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with amendments as on other Bills." - The United States Constitution; Article 1, section 7 (<-- buy a copy).
Since the Congress has Constitutional Authority to do so, they later passed laws allowing for the systematic deduction from your wages. It's more efficient.
Alleyrat001 4 years ago
Actually that is incorrect. The wording the constitution gives on taxing your wages is that money must be apportioned. Basically is needs to be redistributed. Social Security and Medicare seem to fit that definition assuming the money is actually spent where the pay stub says it's going. Even that video you referenced mentions this fact.
divineintervener 4 years ago
Ron Paul is a "Real Republican" for America like Lincoln was! Remember we can all complain and say how bad it is but until you stand up to corporate run governments like ours and take a stand it will not be tolerated, search for "Federal Reserve Fraud" and see who runs and owns America, it is not the people! But with Ron Paul it can be! VOTE RON PAUL 2008
thetruth073 4 years ago
Good ?,my thoughts is if we as working people have to be taxed,why can we not be taxed in the form of a sells tax instead of an earnings tax.I feel this would help to grow the economy by taxing the imagrates,drug dealers,rich and poor on the same level and maybe the richest should still pay thier 15% on money earned.
68rayray 4 years ago
What would you call that extra 15% tax, Sucess tax?
It is the "rich" poeoples money, it isn't like they stole it.
Also define rich, 1,000,000? 200,000? 80,000? 50,000???
makemiasandwitch 4 years ago
Investments, dividends - secondary income isn't taxed like primary income is. Unless of course that secondary income comes from something that actually has value, like music and book royalties or a lottery payout.
Ever wonder why equities traders make up most of the richest people on the planet? How much in tax do they pay on their earnings? And what real value do they actually contribute?
TraitortotheCause 4 years ago
Remember folks, Social Security is _not_ a retirement program and it is _not_ a "savings plan." It is an insurance policy that prevents a worker's income from falling below a certain threshold if he or she becomes disabled or retired. It is not a substitute for saving regularly and routinely for your own health and welfare.
mhollis 4 years ago
all i am trying to do is point out the inequity of the tax mark
mrkclngn 4 years ago
Great question - but we all know the answer and it doesn't lead us to favor one over another.
HarvBand 4 years ago
I believe one can opt out of SSI as a whole. If all employees agree??? I now of one person who claims this is the way her company has done this. Not sure about medicare. Maybe some of you who like to research could check it out and educate us. Maybe the author of the video should.
lotsofsmarts 4 years ago
i have done a litte research and the most that anyone pays in is $13500 that is the amount that is taken out on a payroll of $90000 any amount over that is taxed at the same rate as $90000 if you make $900000 you pay $13500 if you make $9000000 in payroll you pay $13500 and it is only a payroll tax stock dividemds are not taxed for it bonuses for ceos are not taxed for it multi million endosment deals for athletes arnt taxed for it it is the most regressive tax in this country
mrkclngn 4 years ago
Regular workers cannot "opt out" of Social Security, though clergy can. Only way we could "opt out" of the plan is to vote all supporters of the social security system out of office.
mhollis 4 years ago
I believe that Federal employees are exempt from Social Security since they have their own Federal Retirement program. My mother worked for the SBA for almost forty years and never paid in. Sadly shortly after retirement she died and got back very little of what she had earned.
exenrontexas 4 years ago
Excellent question. I think I know the answer though, for most of them. Congress gets it's own special health and retirement plans, superior to ours. They don't pay into our Medicare and Social Security. I know one of them doesn't participate in those special plans though...
deadlogic 4 years ago