EnjoyBeing (enjoybeing) wrote,

  • Mood:

Death tax - Social security...

From Tuesday, February 11, 2003
By David Boaz
Link - http://foxnews.com/story/0,2933,78261,00.html
Every year, every American worker pays 12.4 percent of his income to the Social Security system. Workers may not realize this because the money is taken out of their paychecks in advance. (That’s what FICA means on your paycheck.) And half the tax is concealed by pretending that the employer pays it. But economists agree that a tax on wages ultimately comes out of the worker’s pocket.

When a worker retires after paying 12.4 percent of wages for years, he gets a monthly Social Security check. The return isn’t very good, but at least there’s a check (so far). But look what happens when the worker dies: After paying in for all those years, the worker owns nothing. He can’t leave anything to his children.

  • Our Deepest Fear (quote)

    "Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our light, not our darkness that…

  • Funny Thanksgiving Quotes

    In honor of the holiday::: Thanksgiving is an emotional holiday. People travel thousands of miles to be with people they only see once a year. And…

  • What does a lawyer do? (quotation)

    "True, we build no bridges. We raise no towers. We construct no engines. We paint no pictures - unless as amateurs for our own amusement. There…

  • Post a new comment


    Anonymous comments are disabled in this journal

    default userpic

    Your IP address will be recorded