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lakeside7

Amlo's stimus plan

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1 hour ago, lakeside7 said:

"President López Obrador presented a plan on Wednesday to reform Mexico’s pension system to avoid what he called a crisis in which current workers would not have a “dignified retirement.”

Under the plan, which was to be sent immediately to the lower house of Congress, obligatory pension contributions will increase from 6.5% of a worker’s salary to 15% over a period of eight years. Employers’ share of the contribution will increase from 5.15% to 13.87%"

 

"What is the maximum Social Security withholding for 2020?
For 2020, the maximum limit on earnings forwithholding of Social Security (old-age, survivors, and disability insurance) tax is $137,700.00. The Social Security tax rate remains at 6.2 percent. The resultingmaximum Social Security tax for 2020 is $8,537.40.
https://about.usps.com › info_002

2020 Social Security and Medicare Tax Withholding Rates and Limits"

The US which is the richest country in the World charges 6.2 percent to employers and 6.2 percent to employees. [12.4 percent]

Charging employers 13.87 percent and employees 15 percent in Mexico sounds like a wierd move. [28.87 percent] IMO

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Social Security withholding premium is for much more than an old age pension like AMLO's is, so the premiums can not be compared.

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Well, some have pointed out it is so costly it will drive more into the informal economy, which already makes up about half the economy in Mexico.

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1 hour ago, Mainecoons said:

Well, some have pointed out it is so costly it will drive more into the informal economy, which already makes up about half the economy in Mexico.

The estimate is that 60% or more of the working-age population works in Mexico's "informal economy".

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This among so many other illogical proposals and decisions are the reasons there have been so many public demonstrations against AMLO. 

Anyone know how his son & family living in the huge house with security guards in Texas with no job pays his bills?  Not on dad's legal salary.   

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