Word: pay
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Dates: during 1980-1989
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WASHINGTON--House members voted yesterday to raise their pay by more than $30,000 a year over the next 13 months--to more than $120,000 a year--while revising ethics rules to put new limits on outside earnings...
What's so wrong with Social Security? Only that it systematically undercompensates the needy, systematically overcompensates the non-needy, discourages the elderly from working and forces much of the expense of the system onto poor workers who can least afford to pay...
That honor goes to the regressive, unfair system of payroll taxes that pays for those benefits. All wage-earners in America are required to kick in 7.51 percent of their earnings (the FICA tax) to the Social Security system. Even those workers who are so poor that they are exempt from the federal income tax have to pay the full FICA tax--no exemptions or deductions...
...Congress took one limited step toward getting the wealthy off of the Social Security gravy train. Those recipients making more than $25,000 now must pay taxes on half of their Social Security benefits. But that isn't enough. Wealthy retirees should not be entitled to any government benefits...
...entrepeneurs who own their own businesses are hit twice. They have to pay FICA taxes on the salary they pay themselves, and then match their own contribution...