USAHITMAN Conspiracy News
    Facebook Twitter Instagram
    USAHITMAN Conspiracy NewsUSAHITMAN Conspiracy News
    • Home
    • Featured News
      Featured

      Prince Warned Of 9/11 Attacks In 1998

      9/11 May 7, 2016
      Recent

      Hunter Biden filmed himself smoking crack behind the wheel, driving at 172mph on way to Vegas: photos

      July 2, 2023

      King Charles, Bill Gates Foundation and The OceanGate Missing Submarine – How its connected

      June 22, 2023

      Why Is WEF & Bill Gates-Funded APEEL ON Organic Produce?

      June 18, 2023
    • Conspiracy News
      1. 911 Conspiracy
      2. Big Brother
      3. Police State
      4. NWO
      5. UFOs & ETs
      6. Conspiracy or Not
      7. Freemasonry
      8. Chemtrails
      9. HAARP News
      10. The Unknown
      11. Terrorism
      12. Lies & Hoaxes
      Featured

      Candidate Le Pen’s Political Ad Regarding France from the Year 2011

      Conspiracy or Not July 3, 2023
      Recent

      Candidate Le Pen’s Political Ad Regarding France from the Year 2011

      July 3, 2023

      Justice Department: Misconduct by federal jail guards led to Jeffrey Epstein’s suicide

      June 28, 2023

      The 4th Dimension and the Birth of the Jungle Gym

      June 27, 2023
    • Interesting News
      1. Covid
      2. Deaths
      3. Food & Health News
      4. Economy & Money
      5. Restrictions
      6. Bitcoin News
      7. Our Second Amendment
      8. Science & Space
      9. Much More News
      Featured

      U.S. Navy says it can convert seawater into fuel

      Interesting News April 8, 2014
      Recent

      George Soros’ foundation lays off 40% of workforce after billionaire investor’s son takes over

      July 1, 2023

      Supreme Court rejects affirmative action at colleges as unconstitutional

      June 30, 2023

      Prosecutor Reportedly Told Six Witnesses He Was Not Permitted To Charge Hunter Biden

      June 28, 2023
    • Archived Years
      • 2010 Articles
      • 2011 Articles
      • 2012 Articles
    USAHITMAN Conspiracy News
    Home»More News»Economy & Money»900 wealthiest Americans exempted from paying 2014 Social Security past Jan. 2nd

    900 wealthiest Americans exempted from paying 2014 Social Security past Jan. 2nd

    January 4, 20143 Mins Read
    Facebook Twitter Reddit Telegram Email

    000_119316648.si

    A small, elite group of US citizens has already met their 2014 financial obligation for Social Security two days into the New Year, and will no longer be required to contribute any of their income to the federal program.

    Nearly all working Americans will continue to pay the social security tax through the duration of 2014. The 900 wealthiest, however, have fulfilled their responsibility for the whole year on Thursday by earning $117,000 – the maximum total social security is allowed to take from an individual income each year – on the first and second days of the month.

    Teresa Ghilarducci, an economics professor at the New School for Social Research, wrote that if everyone eligible paid all year long, “the Social security system would be solvent indefinitely and they still would be the richest and prettiest in all the land.”

    Exactly who made enough money to qualify for the end of Social Security payments will be difficult to ascertain until the end of 2014, but by January 2, 2012, 894 individuals across the nation had already fulfilled their commitment. The Los Angeles Times noted that this exclusive club was made up of mostly corporate CEOs who were not in the 1 percent or .01 percent, but rather the .0001 percent of high income earners. Executives at NewsCorp, Philip Morris, Pfizer, ComCast, and Starbucks all made up 70 of the 894 that year.

    The income-cap on Social Security taxes has quietly become one of the most contentious issues among activists throughout the country, if not among lawmakers in Washington. A number of politicians have proposed drastically raising the cap or eliminating it altogether, only to see the issue quickly voted down. These activists argue that the very top of the income earners in the US are thus the most capable of contributing to the federal program, and should not be exempted.

    According to the Department of Commerce, Social Security kept 15.3 million people out of poverty in 2011, by far the most of any federal benefit. Unemployment insurance, for example, kept 1.7 million people out of poverty that same year.

    The Center for Economic Policy Research issued a report in 2012 finding that less than 6 percent of workers would notice a change on their paycheck if the cap was eliminated, and 1.4 percent would have been affected by a proposal which would have raised it to $250,000 had the bill passed through Congress.

    Democrats successfully raised the cap from $106,800 to its current level in 2009. Unfortunately, for the millions of Americans who rely on the program much of the political discussion in recent years has focused on slashing benefits.

    President Obama – who along with the Democratic Party has positioned himself as a protector of the elderly and disabled – recently proposed a change to how Social Security benefits are calculated.

    The new measure, known as Chained CPI, would cut $230 billion in benefits over ten years by gradually shaving dollars off a retiree’s income as they grow older. Someone who started receiving benefits at age 62, for instance, would lose roughly one month’s income by the time they turn 92, when that money would certainly be much more valuable.

    Source

    2014 Americans Exempted Rich Social Security Taxes
    Share. Facebook Twitter Pinterest Email Reddit

    Related Posts

    Ukraine could become world’s first cashless economy

    June 29, 2023

    FTX begins talks to relaunch international cryptocurrency exchange

    June 29, 2023

    Russia to legalize cryptocurrency

    June 27, 2023

    Candidate Le Pen’s Political Ad Regarding France from the Year 2011

    July 3, 2023

    Vaccine billionaire’s 3000 per cent gain with surprise bet

    July 3, 2023

    Hunter Biden filmed himself smoking crack behind the wheel, driving at 172mph on way to Vegas: photos

    July 2, 2023

    Millions of Your Taxpayer Dollars Are Going to Fund Foreign Pride Parades and Drag Shows

    July 2, 2023
    Categories
    • 9/11 (108)
    • Big Brother (635)
    • Conspiracy or Not (567)
    • Covid (270)
    • Deaths (71)
    • Economy & Money (953)
    • Featured News (377)
    • Food & Health News (1,146)
    • Fukushima (82)
    • Interesting News (1,956)
    • Lies & Hoaxes (112)
    • More News (2,399)
    • NWO (385)
    • Police State (628)
    • Politics (333)
    • Predictions and Prophecies (43)
    • Random News (2,487)
    • Restrictions (152)
    • Science & Space (953)
    • Second Amendment (129)
    • Secret Societies (112)
    • Survival (67)
    • Terrorism (595)
    • The Unknown (666)
    • UFOs & ETs (388)
    • Vaccine News (237)
    • War News (878)
    • Weather Manipulation (34)
    © 2023 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.