I know this is somewhat political but this seems to be the place for tax discussion so move it if necessary.
http://abcnews.go.com/Politics/story...710&page=1
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Obama's idea, which he described on the op-ed page of Friday's Quad City Times as being "one possible option" and not a formal plan, would raise more than $1 trillion over 10 years by subjecting income of more than $97,000 to a 12.4 percent tax. Half of the tax would be paid by employees and half would be paid by employers.
Obama is floating the idea of a tax hike on the rich as a way of assuring lower- and middle-income voters that he sees an option for ensuring Social Security's solvency that would not burden them.
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This is a big deal for all poker players because we don't have an employer to pay the other half of that 12+% and would be paying a flat 12% SS tax on all income with no cap. A plan like this would create a much larger tax burden for poker players or any other self employed individuals.