- Sep 19, 2011
- 28,410
- 9,987
- 900
First a FACT: Total Federal Revenues in 2011 $2,302 Trillion...
Where did it come from:
In 2011 Total Federal Revenues and sources:
Personal income tax $1,015 47.4% people that work for companies that work for profits primarily.
Social security/Medicare tax 818 35.5% employer pays Half of total paid-- where will that come from???
Corporate income tax 181 7.8% corporate evil profits generate taxes - then dividends taxed again!
Customs,Duties, Misc. 131 5.7%
Excise taxes 72 3.1%
Estate & Gift 7 0.4%
Total: $2,302 100%
Federal Revenues by Source
The fact that all Liberals and most conservatives don't know is that the above Social security and Medicare tax of $818 billion (2nd largest) is made up of deductions from employee paychecks and that is KNOWN by all...
But I've found out that some people have NO idea that their employer also contributes to the employee social security / Medicare.
And right now while the employee's tax is 6.2% the employee's is 4.2%.
Do you understand what this means?
If Obama wants to destroy businesses, hates evil corporations wants to see them destroyed.. WHERE would nearly $818 billion a year in revenue come from? I mean Obama wants all the 1,300 health insurance companies out of business when he says "I favor single payer system" what will happen?
Or when Obama says "coal fired utilities will be bankrupt".. that means unemployment!
Where will the employers be that pay more then half the Social Security/Medicare taxes if Obama wants them destroyed?
Source for the below:Social Security Tax Rate to Remain at 4.2% for All of 2012
Congress has voted in favor of extending for the entire year of 2012 the temporary reduction in the employee's portion of the Social Security tax. Currently, employees pay 4.2% of their wages in Social Security taxes, a rate that has been in effect since January 2011 and was scheduled to expire at the end of February 2012. HR 3630, the Middle Class Tax Relief and Job Creation Act of 2012, extends this 4.2% rate through the end of 2012. The House voted in favor of HR 3630 by 293 to 132; the Senate approved the legislation by a vote of 60 to 36. President Obama signed the bill on February 22, 2012.
Employers still pay the normal rate of 6.2% of wages into the Social Security program. For 2012, Social Security taxes are assessed on wages up to the annual wage base limit of $110,100.
Self-employed persons will pay a combined 10.4% in Social Security taxes, instead of the normal 12.4%, reflecting both the employer's and the employee's share of Social Security taxes.
Where did it come from:
In 2011 Total Federal Revenues and sources:
Personal income tax $1,015 47.4% people that work for companies that work for profits primarily.
Social security/Medicare tax 818 35.5% employer pays Half of total paid-- where will that come from???
Corporate income tax 181 7.8% corporate evil profits generate taxes - then dividends taxed again!
Customs,Duties, Misc. 131 5.7%
Excise taxes 72 3.1%
Estate & Gift 7 0.4%
Total: $2,302 100%
Federal Revenues by Source
The fact that all Liberals and most conservatives don't know is that the above Social security and Medicare tax of $818 billion (2nd largest) is made up of deductions from employee paychecks and that is KNOWN by all...
But I've found out that some people have NO idea that their employer also contributes to the employee social security / Medicare.
And right now while the employee's tax is 6.2% the employee's is 4.2%.
Do you understand what this means?
If Obama wants to destroy businesses, hates evil corporations wants to see them destroyed.. WHERE would nearly $818 billion a year in revenue come from? I mean Obama wants all the 1,300 health insurance companies out of business when he says "I favor single payer system" what will happen?
Or when Obama says "coal fired utilities will be bankrupt".. that means unemployment!
Where will the employers be that pay more then half the Social Security/Medicare taxes if Obama wants them destroyed?
Source for the below:Social Security Tax Rate to Remain at 4.2% for All of 2012
Congress has voted in favor of extending for the entire year of 2012 the temporary reduction in the employee's portion of the Social Security tax. Currently, employees pay 4.2% of their wages in Social Security taxes, a rate that has been in effect since January 2011 and was scheduled to expire at the end of February 2012. HR 3630, the Middle Class Tax Relief and Job Creation Act of 2012, extends this 4.2% rate through the end of 2012. The House voted in favor of HR 3630 by 293 to 132; the Senate approved the legislation by a vote of 60 to 36. President Obama signed the bill on February 22, 2012.
Employers still pay the normal rate of 6.2% of wages into the Social Security program. For 2012, Social Security taxes are assessed on wages up to the annual wage base limit of $110,100.
Self-employed persons will pay a combined 10.4% in Social Security taxes, instead of the normal 12.4%, reflecting both the employer's and the employee's share of Social Security taxes.
