I see an economic diasater coming...

[triffid]

There 60 tax havens in the world,the USA is the largest(number 1).Britian about number 5.We reduced the british empire in the fifties to 5 million foreigners from 700 million.Now its payback.triffid

[the_big_m_in_ok]

Many retirees rely on SS for over 90% of their income.How scary is that?triffid

Very!   I run out of spending cash about the middle of the month and have to stand in "soup kitchen" lines for the rest of the month.   No! wonder! there's an "Occupy..." protest in about 30-35 American cities and the number should be growing.

Whoa!   Greece protest(s) are becoming something to look at from a distance.   I said, (didn't I?) that 'prompt, fresh' riots would return to Greece when political measures would essentially be seen as ineffective.   They weren't exactly "prompt" but they're certainly getting attention around Europe.

Whatever they do, Greece will probably default eventually and then we'll all see what happens.

--Lee

[triffid]

.10 million could pay more Social Security tax

tweet22EmailPrint..Jeanne Sahadi, On Wednesday October 19, 2011, 12:53 pm EDT
Seniors got good news on Wednesday: Their Social Security checks will go up 3.6% next year because of a cost-of-living increase.

That also means an estimated 10 million high-income workers may be paying a bigger tax bill.

That's because the inflation that justifies the benefit increase also will raise the amount of income subject to the portion of the payroll tax supporting Social Security.

Currently workers pay the tax on the first $106,800 of income. Starting next year, they will pay it on the first $110,100.

Normally the tax rate is 6.2% for workers and 6.2% for employers. Those who are self-employed pay the full 12.4%.

But this year workers have only paid 4.2% thanks to a temporary payroll tax holiday that Congress passed last December.

Social Security checks to rise 3.6%

It's not clear yet what the rate for 2012 will be. If President Obama has his way, it will be temporarily cut even further -- to 3.1%. Otherwise it may be maintained at 4.2% or revert to 6.2% as it is scheduled to under current law.

This year, people making $110,100 are paying $4,486 into Social Security.

Next year, if the rate reverts to 6.2%, they'd pay $2,341 more.

[triffid]

I do believe greece will default and others will follow.Just as the USA survived its defaults(about seven so far) they will survive but not without pain.Since they cut SS inlays last year I believe now that further tampering will occur with SS.In Dec 2010 SS had a surplus of 2.6 trillion and funds for another 27 years.
It was in far better shape than I had known.Congress should want to make it stronger.So many people rely on it.triffid

[triffid]

Offshore money runs America indeed the whole world.A liberalisation of the world's economy has been forced down the throats of everyone.By powerful corporations and a few very rich individuals.Operating in tax havens without checks and balances.Since America is number one in tax havens I do not see any reforms coming.That is just a daydream.The bankers have taken over the world without john Q public noticing(without much notice).Those who wanted to dig for info could always find it but they were largely ignored by those around them.Now that people can't find JOBs they wonder why and are asking questions NOW.About 100 years too late.triffid