re: #107 Bulworth

Rate could have been lowered if the cap were raised. Instead, we get a regressive tax where those who make the least have to pony up the larger percentage of their income while a millionaire takes a lower hit as percentage of their total income:

Someone making $50k has to pay $3,100 in payroll tax.

The person making $100,000 pays: $6,200 in payroll tax.

The millionaire gets taxed only up to $113,700.00 (which is $7,049.40) meaning the balance is payroll tax free.

Oh, and payroll tax is to fund Social Security - dedicated funding.