Stanford Professor Loses Political Battle To Simplify Tax Filing Process

Re:Stanford Professor Loses Political Battle To Simplify Tax... by toomuchtodo on Wednesday March 29, 2017 @11:50PM (#13992716)

No. Social security is only taxed on your first $127,200 of annual income. Anything over that is not assessed social security tax. Medicare is 1.45% of your income with no limit, and an additional 0.9% on income over $200k/year. I'm unsure where you would get the idea that those rates increase as your income increases.

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Re:Stanford Professor Loses Political Battle To Simplify Tax... by MaysonL on Thursday March 30, 2017 @02:34PM (#13997783)

I was replying to someone who was saying that 45% of workers pay no Federal income tax, so the upper limit did not enter into consideration. For the mathematical concept of direct variation, which I meant, but did not quite explicitly call out, see: https://www.freemathhelp.com/direct-variation.html

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Re:Stanford Professor Loses Political Battle To Simplify Tax... by fjdlwlv on Thursday March 30, 2017 @12:36AM (#13992931)

Parent did not say rates increase.

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Re:Stanford Professor Loses Political Battle To Simplify Tax... by rplst8 on Thursday March 30, 2017 @08:29AM (#13994763)

Not sure why you are getting down voted. The taxes are both rates, so they do increase in amount the more you make.

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