TAXES-2337 - 1.45% --- matched by Er All employment income...

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TAXES Taxes, Taxes, Taxes…. .
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Tax Systems Progressive Higher Income = Higher Tax Rate Personal Income Tax Corporate Income Tax Flat / Proportional Regressive Higher Income = Lower Tax Rate Sales, Excise Tax
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Federal Income Tax Progressive Largest Source of Federal Revenue Tool of Fiscal Policy Complex (Ridiculously complex…)
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Social Security Tax Also called “Payroll Tax” FICA of 1935 Matching Program Flat / Regressive 6.2% - up to $106,800 = $6,621 “Pay as you go” Program (sometimes referred to as “ Ponzi ” program)
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Social Security “Issues” “Baby Boomers” (1946 -1964) Fewer people paying in Life Expectancy Increased 1900 = 46, 48 1935 = 60, 64 1981 = 70, 78 2010 = 76, 81 (36 TH in the world)
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1946 42 - 1
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1960 9 - 1
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Today 3 - 1
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Estimated by 2030…. 2 - 1
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Social Security Question Will it be there for you ????? I have no idea!
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Medicare 1965 --- LBJ program…
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