<$BlogMetaData="social security social security social security social social security social security security.$>

Apr 21, 2012

NASI Wants To Phase Out Reduction In FICA Tax Over 11 Years

     The F.I.C.A. tax that supports the Social Security Trust Funds has been temporarily reduced by 2% because of the recession. The difference is being made up out of general revenues. The 2% reduction is set to end at the end of this calendar year. The National Academy of Social Insurance (NASI) is promoting a plan to phase out the 2% reduction over 11 years.
     Eleven years!!?? I hope the recession that brought about this reduction is over long before then.

Labels: ,

Share |
  • Visit the Charles T. Hall Law Firm Website
  • 3 Comments:

    Anonymous Anonymous said...

    Per the link, not just phase out the reduction, but also impose an increase.

    12:19 PM, April 21, 2012  
    Anonymous Anonymous said...

    They need to end the reduction now. The extra $16.00 I get per pay check isn't worth the damage it's doing to the SSA system. I wouldn't be opposed to paying even an extra $16.00 either.. I know I'm asking for the impossible here but then I would like the Govt to quit wasting money.

    1:13 PM, April 22, 2012  
    Anonymous Anonymous said...

    @ anon 1:13...agreed. I don't mind paying taxes. However, I do mind when my tax dollars are wasted. I'm tired of seeing SSI recipients with 6 kids roll up to Target in the Escalade and have each kid by an Xbox game.

    9:13 AM, April 23, 2012  

    Post a Comment

    Links to this post:

    Create a Link

    << Home

    Free Counters
    Free Counters