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Republican politicians, and their voters must agree, that me paying 14.4% tax for all of my life until I am 62 years old is not enough to provide me with $30K/yr for my golden years.
Republican politicians, and their voters must agree, that me paying 14.4% tax for all of my life until I am 62 years old is not enough to provide me with $30K/yr for my golden years.
Sorry, the SS tax rate for 12.4%, not 14.4%.
If you work for a company, they pay half of if. If your company didn't pay it - then, theoretically they could pay you more*.
*BTW, this is some of the tax & social security tax that the NY state caught the Trump Org perpetrating.