>>>Yes, there are ways to avoid payroll taxes, but I can tell you first hand that the IRS is vigilant in its enforcement.
>>>You'd be hard pressed to find a CEO of a Fortune 500 company with a base salary of under $1million.
>
>So taxes on 500 CEO salaries will perpetuate your Medicare benefits? As Marcia would say: I have a bridge I can sell you. ;-)
>
Check your facts, John.
I never mentioned Medicare.
I mentioned FICA, which by every estimate, will be broke unless something is done. By those same estimates, lifting the cap will make it solvent well into the next decade.
If you feel good saying that small business owners will be devastated by paying an extra 7.5% on wages over $118K, enjoy it.