Mr. Romney, I am one of the 47%
and I am not a “victim”.
From 1946 until 1963 you would have been paying 91% of every dollar above $2,486,533 of your income. That is $15,937,254.97 just to cover the top marginal tax rate. It would take me 618 years 10 months 22 days 16 hours 57 minutes and 19 seconds to make what you made in 2010.
If I had to pay taxes on my Social Security income, as you would have me do, I would have paid $9380 or 26.75% of my income in federal taxes alone. On top of that I would have to pay my share of FICA and Medicare of $2677.50 in addition to $938 in state taxes. That is a grand total of $12,995.50 or 37% of my income. And you paid 13.9% of your $21+ million income?
Your claim is that Social Security is a federal expense. If that’s the case where did all the money that I paid in for my Social Security go?
Since Dwight Eisenhower was first elected in 1952 congress has been aware of the baby boom and that our lives were being extended through better medical care. For the past 60 years congress has chosen to ignore those two facts and continually “kicked the can down the road”.
If congress had been doing their job properly the percentage that we pay for FICA would have been increased in the early 1950’s and both my father, for 23 years, and I, for 50 years, would have contributed to Social Security for the coming generations.
Don’t tell me that I am a welfare case when you are living on tax welfare.
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