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Your just like property taxes, you re clear about what they re paying for. with the payroll tax, we know what it s paying for, but i feel there s an obscurity around it. i have to say coming from a working class household, i didn t know that high incomes capped out. i didn t know there was a point at which you stopped paying payroll taxes. you know, the first time i ever earned enough, it was in a november, i was 32. i was like, my check is too big. it should be smaller this month. you re a rare bird. i had no idea that it felt to me like this seemed like the easiest tax base solution. everybody pay all year. consistent with that, the social security administration says if we raise the social security tax to 7.65%, we ll close the gap. so we know that the social security trust fund will top out in 2033 and this will close the fund. there s support for that. the backlash is always, well, we ve got to reform it now. ....
To that but to get into that goes on and on. bill: the corporations have to contribute to the social security fund. right. bill: at the same rate the workers do. that s right. bill: all in all, president obama is trying to tell the american public that the one percenters, as few as they are, aren t paying their fair share and corporate america is not paying their fair share. are we paying our fair share. i think more than our fair share for crying out loud. people don t realize what we are paying as individuals the employer has to withhold the money. we re talking about 7.65% in the case of those payroll taxes, contributed from both sides, the employer and the employee, that s social security, that s medicare as well. by the time you get through with this thing, we are talking about over 50% because the sales taxes, state income taxes and much of that. bill: gas taxes? gasoline taxes? so you, lou dobbs, the yoda of ....
Goes on and on. bill: the corporations have to contribute to the social security fund. right. bill: at the same rate the workers do. that s right. bill: all in all, president obama is trying to tell the american public that the one percenters, as few as they are, aren t paying their fair share and corporate america is not paying their fair share. are we paying our fair share. i think more than our fair share for crying out loud. people don t realize what we are paying as individuals the employer has to withhold the money. we re talking about 7.65% in the case of those payroll taxes, contributed from both sides, the employer and the employee, that s social security, that s medicare as well. by the time you get through with this thing, we are talking about over 50% because the sales taxes, state income taxes and much of that. bill: gas taxes? gasoline taxes? so you, lou dobbs, the yoda of ....
Goes on and on. bill: the corporations have to contribute to the social security fund. right. bill: at the same rate the workers do. that s right. bill: all in all, president obama is trying to tell the american public that the one percenters, as few as they are, aren t paying their fair share and corporate america is not paying their fair share. are we paying our fair share. i think more than our fair share for crying out loud. people don t realize what we are paying as individuals the employer has to withhold the money. we re talking about 7.65% in the case of those payroll taxes, contributed from both sides, the employer and the employee, that s social security, that s medicare as well. by the time you get through with this thing, we are talking about over 50% because the sales taxes, state income taxes and much of that. bill: gas taxes? gasoline taxes? so you, lou dobbs, the yoda of ....
Volatile trading day in two months. prices shot to a record high. up above 1,364 an ounce. then dipped again just a short moment ago. the dip marked a swing of $17.65 in just one day. hard times for state and local governments across the country. with many facing huge budget shortfalls. however, many government workers still getting rich at taxpayer expense. we re joined by mike brunker from msnbc.com. we have research to prove that some people are getting away with what should be criminal. what did you find? yeah, we did a quick survey. my colleague bob sullivan wrote a column that did a quick survey of some of what he found as far as salaries and perks and pensions for public workers around the country. then he invited readers to offer their kribss. ....