- Sep 19, 2011
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The White House trying to JUSTIFY the Buffett Rule did a video with a white board by Deputy Director of the National Economic Council, Brian Deese,
White House White Board: The Buffett Rule | The White House
BUT the WH LIED about the Effective Tax Rate as the attached chart shows.
First LIE the WH includes the SS and Medicare payments counting them as "taxes"!
THEY ARE NOT taxes because the worker gets the money back at retirement!
In fact the retired worker earning $49,000 a year for 35 years would pay in and matched by the way the employer $267,643...
But when retired gets at least $1,500 from SS and health coverage averaged at $800 a month... or over 20 years of payments totally $552,000... Nearly double what was paid in and 4 times what the employee paid in!
SO WHY count them as taxes?
Then the IRS proves the LIE showing from the file that ANYONE can download shows the three types of workers and income WHAT WAS REALLY paid by the different incomes and they FACT is the lowest income shown paid 11%, next 13% and people making over $173,000 paid 17% while the wealthy 400 paid 24%!!
Follow this CHART that SHOWS the EXAGGERATIONS of taxes paid by including SS and Medicare that will be doubled when returned at retirement!!!
White House White Board: The Buffett Rule | The White House
BUT the WH LIED about the Effective Tax Rate as the attached chart shows.
First LIE the WH includes the SS and Medicare payments counting them as "taxes"!
THEY ARE NOT taxes because the worker gets the money back at retirement!
In fact the retired worker earning $49,000 a year for 35 years would pay in and matched by the way the employer $267,643...
But when retired gets at least $1,500 from SS and health coverage averaged at $800 a month... or over 20 years of payments totally $552,000... Nearly double what was paid in and 4 times what the employee paid in!
SO WHY count them as taxes?
Then the IRS proves the LIE showing from the file that ANYONE can download shows the three types of workers and income WHAT WAS REALLY paid by the different incomes and they FACT is the lowest income shown paid 11%, next 13% and people making over $173,000 paid 17% while the wealthy 400 paid 24%!!
Follow this CHART that SHOWS the EXAGGERATIONS of taxes paid by including SS and Medicare that will be doubled when returned at retirement!!!
