In a disgusting display, the Republican party is now trying to block a tax cut that NObama is championing.
Quick explanation: To pay for Social Security benefits, employers and employees have always paid into the system via a payroll tax. This payroll tax has been 6.2% paid by the employer and 6.2% of salary paid by the employee. This totals to 12.4% of everyone’s salary being paid into the social security system. Social Security payroll taxes are basically unavoidable, and they only apply up to the first $106,800 of a worker’s wages. Last year Obama cut this tax on the worker’s side of things, saving people up to $2,136 a year, or at the very most a solid 2% of their income.
I know, most of us poors don’t make six figures, but how are we supposed to get rich if the corporations are being taxed 2% higher than us workers? How are companies supposed to find it in their heart of hearts to hire you if they’re being unfairly taxed higher than a single parent raising her two children?
Basically, what the Republican party is saying here, is that it’s fine to nickel and dime the poorest of us all, but when you start asking the big dogs to contribute, you better check yourself.
