May 27, 2001 |
While lawmakers scrambled to provide a massive tax cut for Americans, senior citizens such as Lonell Spencer, a 72-year-old retired machinist who lives in Arcadia, wondered why they'd been left out. Thanks to a 1993 law that dramatically increased the amount of Social Security benefits subject to taxation, millions of middle-income seniors--people with incomes between $34,000 and $75,000--pay taxes at higher marginal rates than millionaires do. "This bothers me considerably," Spencer said.
CALIFORNIA | LOCAL
March 27, 2001
Reducing the Social Security tax rate, which would benefit the lowest-income people and the middle class, is what's needed to "balance" President Bush's income tax rate reduction, which primarily benefits the highest-income people. Instead of having all of the revenue needed to support Social Security raised by a tax imposed only on incomes of up to $80,400--a tax "break" for the high-income people--make the tax payable on all income of whatever amount. This would make it possible to substantially reduce the rate, providing significant tax relief to those who need it most, and who will spend it promptly, thereby stimulating the economy now, not 10 years from now. ALAN R. GORDON Camarillo
August 3, 2000
Republicans focused Wednesday night on economic issues, including those faced by these older residents of Philadelphia, who struggle to make ends meet. GOP PLAN Social Security Opposes changing Social Security benefits for current retirees or those nearing retirement. Would give people option of moving a portion of their Social Security payroll taxes into personal retirement accounts to invest in the stock market. Taxes Gradually cuts taxes by $1.3 trillion over 10 years.
July 27, 2000 |
Fearing widespread defections, the White House and Democratic leaders Wednesday urged House members to hold the line against a Republican plan that would repeal a portion of the tax on Social Security benefits. The bill--scheduled for floor action today--would repeal a tax increase on wealthier elderly Americans approved by Congress in 1993 as part of President Clinton's budget plan for combating a deficit.
January 19, 1999 |
Determined to show that his embattled presidency is alive and kicking, President Clinton plans to use tonight's State of the Union address to push for an ambitious agenda of education programs, Social Security reform and tax cuts.
June 24, 1998 |
A cadre of House liberals, admitting that they have been outmaneuvered in discussions concerning the future of Social Security, on Tuesday announced a campaign to defeat proposals that would allow workers to place some of their Social Security taxes into individual investment accounts. The debate about revamping the retirement system "has been one-sided and has shut out the voice of the American people," said Rep. Jerrold Nadler (D-N.Y.
May 3, 1998
In the April 19 Shop Talk column, there was a question whether the employer of a domestic worker is obligated to pay Social Security taxes. The answer depends on the relationship between the worker and the employer. If domestic workers have their own janitorial or cleaning service where they bring their own equipment--vacuum cleaner, brooms, mops and cleaning supplies--they are considered self-employed and required to pay Social Security taxes as a self-employed individual. But if the domestic worker goes to the home, uses the supplies provided by the homeowner and follows the directions given by the employer, an employer-employee relationship exists and the employer is required under the law to pay Social Security taxes and give the worker a W-2 form each year.