Homestead mailing list

[Bill Jones <billj AT harborside.com>]

That's a combination of average sales taxes, state and federal  income 
taxes, FICA, etc.  It doesn't make sense to add in property taxes, 
because there's nothing there that's proportional to income.  But 
realistically, it does indeed contribute to the total tax burden.

Social Security is so simple to comprehend, now that we know that 
there's no miracle compound interest being earned in a locked box.  To 
find out what FICA taxes will be like in 2030, just multiply the present 
percentage by a ratio approximately equal to 3.2/1.96 (the ratio of # 
workers per retiree now, to the projected # of workers per retiree 
then).  I think you'll find it comes out to over 20% just for FICA.

Of course, this doesn't account for things like economic collapse, 
because it assumes that the percentage of people employed will stay the 
same.  And either way, the retired person's SS will reflect not only the 
percentage of people employed, but also how _well_ employed the average 
worker is.

Rob wrote:

> At  10/25/2005 12:49 PM, you wrote:
>  
>
> > If only there were some way to dismantle the LBJ spending machine, there
> > would be plenty of money.  We're paying almost 40% in taxes, after all.
> >    
>
> Show me how the fed is getting almost 40% of what I earn.
>
>
>
> Rob
> becida AT comcast.net 
>
> _______________________________________________
> Homestead list and subscription:
> http://lists.ibiblio.org/mailman/listinfo/homestead
> Change your homestead list member options:
> http://lists.ibiblio.org/mailman/options/homestead/billj%40harborside.com
> View the archives at:
> https://lists.ibiblio.org/sympa/arc/homestead
>
>
>
>
>