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View Diary: Harry Reid rips John Boehner for skipping town as tax hikes loom (117 comments)

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  •  yup...FICA is a regressive model (2+ / 0-)
    Recommended by:
    dinotrac, Jeff Simpson

    for funding pensions, anyway, hitting the lowest earners hardest.

    Please don't dominate the rap, Jack, if you got nothin' new to say - Grateful Dead

    by Cedwyn on Thu Dec 27, 2012 at 08:56:59 AM PST

    [ Parent ]

    •  On the other hand, it does provide low-income (1+ / 0-)
      Recommended by:

      earners with the best bang for the buck, should they live to collect it.

      I can't remember the specifics, but the benefit rate relative to earnings goes from something like 90% for those at the low end of the scale to about 15% of those at the high end of the scale but still at or below the social security cutoff.

      As per usual, middle class Americans get relatively screwed in the deal.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Thu Dec 27, 2012 at 09:02:07 AM PST

      [ Parent ]

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