To: Inkie
In rereading that post I just responded to, I think the situation is that you pay SS tax on your gross, but it is not a deductible expense, so when your fed and state income taxes are figured out, you are paying taxes on the taxes (the SS taxes).
14 posted on
01/30/2003 2:46:31 PM PST by
Inkie
To: Inkie
I agree with your analysis, but the fact that soc. sec. taxes don't generate a credit or deduction hardly means they're taxed twice.
On the other hand, if Babs and the other airheads/meatheads want to eliminate taxes paid on soc. sec. benefits, hey I'm all for cutting taxes.
19 posted on
01/30/2003 3:15:15 PM PST by
colorado tanker
(down with the axis of weasels)
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