Gadawg73
Gold Member
- Feb 22, 2009
- 14,426
- 1,618
just keep telling yourself your fuzzy math if the problem.americans pay the same percentage of their income to SS for the first $106K of earnings. which is currently 4.2%. employers pay 6.2% of the their employee wages up to $106K to SS. there is a difference between an individual and a business. is this concept really lost on you?
are you really arguing this point?
and you actually are finally correct, everyone pays for SS on top of their federal income tax? how has this changed in the last 50 years? this isnt a new concept. income tax is a separate tax from SS.
You are an idiot.
13.3 % is Medicare and social security tax and employees PAY IT ALL no matter if they are self employed or not. The other 1 % is factored in for self employed individuals as we do not get the full tax write off for the $$$ WE PAY.
When a company sits down to fill a job position each year for any employee they say: "This job will pay $60K this year. 48K in salary, 8K in medical benefits and 4K in social security and Medicare payments. How else can I figure out what the pay is for my employees other than figuring in what the TOTAL COST of that employee is.
The great myth in America is "I get my health care paid for by my employer"
No wonder we are behind in the world and wages are down! Workers do not understand that I have to lower their pay TO PAY FOR THE HEALTH INSURANCE AND SOCIAL SECURITY. They are paying it as all I am doing is withholding it from their salary and passing it on to the health insurance company and the government.
As a % of a worker's take home pay health insurance and taxes has had the greatest effect at stagnating worker's wages for the last 40 years than anything else. My "contribution" to their social security is nothing other than DEDUCTING WHAT I WOULD HAVE PAID THEM as I have that calculated into what that job COSTS ME and is worth at the start of each year.
Econ 101. Taught at your local community college. Please take advantage of it.
according the IRS the employer rate for SS is 6.2%, the employee rate is 4.2%. by 1st grade math skills this is 10.4%. no matter how you want to twist it, 6.2 + 4.2 = 10.4. apparently that community college education you got isnt worth much after all.
if you have a problem with your business taxes, you should probably get a better accountant.
No dumb ass:
Employer: 6.2%, Employee 7.65 including Medicare tax = 13.85
SELF EMPLOYED YOU FOOL: 15.3 %.
Read it and weep Moe:
http://www.ssa.gov/pressoffice/factsheets/colafacts2013.htm
Are you really that stupid to believe that someone like me, MBA and owner of 3 corporations does not know the law?
I PAY 15.30%
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