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SPDR S&P 500 ETF Message Board

  • ibdman15 ibdman15 Mar 2, 2013 6:27 PM Flag

    Payroll Tax and why it's not discussed

    most folks pay social security tax at 6.2% and their employer kicks in 6.2%. The two year reduction was to 4.2% for the employee. This reversion back to 6.2% alone takes $110 B out of economy....but guess what? Federal Employees don't pay into social security just into their gravy train retirement plan that is based on top salary and years of service. The private sector on the other hand have to invest for our own retirement. So buffoon Potus/Obama is making a big deal about the $85 B in spending cuts cause it affects his boys and girls at the federal government but doesn't give a hoot about the $110 B in consumption reduction taken away from the common private sector folks. Stock market will crash soon no matter what happens because the economy is crashing and the stock market leads the economy so it will crash before the economic collapse is apparent.

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