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Obama is going to put a 15% social security tax on income over $104,000. Why did he mislead us by...?

... saying only those with income above $250,000 would pay higher taxes? Obama wants to apply social security taxes to income about the current limit of about $104,000. It's about 15% between the employee and employer. Will super rich people like Bill Gates, George Soros and Warren Buffet just hide there income because this tax is only on wages and they can just pay themselves dividends, stock options, and capital gains --- or just take a salary of $1/year while still owning their business?

Public Comments

1. Flip flopping again. He does that so well, doesn't he? Obviously we cannot believe ANYTHING he says/said.
2. He only misled the dumbasses that voted for him. The rest of us knew better.
3. Because he's a LIAR!
4. You oughtta know he says what he needs to to get elected. Now he's in charge and he can do whatever he wants regardless.
5. The entire economic system will collapse because of this adjustment - not. This is sort of the same thing as moving the alternative income tax upward. Inflation may be low - but it still exists and top income limits need moved from time to time. I see no problem with anything that helps social security.
6. Obama is the biggest liar/flip-flopper, scam-artist in American history. FACT
7. Like some here keep saying, Obama lied to get votes. Next year start voting them dems out, and in 2012 finished the rest off, and then things will get back to live as we know and like it, otherwise we are all scre*ed. You have it figured out, just help push to have them all standing in the unemployment line.
8. Interesting twist of the facts. Right now, EVERYONE pays that tax UP TO the first 104,000 they make. This is not a new tax. And that limit at which the tax stops has been going up, steadily, since Social Security was first initiated. And the President does not make tax decisions. And Obama in his recommendations has put the additional _INCOME_ tax on incomes above $250,000 on hold until the economy is in better shape. But you know what, If I am guilty of a crime, I want you for my defense attorney. You could probably convince the jury that the judge did it.
9. no link to prove your point, ok just say your really telling the truth (I doubt it) social security tax max out at 200,000. once you have paid that amount, you don't have to pay anymore into the system. maybe you should read that little paper they mail out every year about how much you have in social security.
10. Someone has to pay for FDR's Ponzi scheme.
11. CAN YOU PRONOUNCE I-N-E-P-T L-I-A-R ?