discuss
FWIW The employee portion of the Social Security tax was lowered from 6.2% to 4.2% in 2011, all the tax “hike” is, is the expiration of the tax “cut” of 2% bringing it back to the normal level. Employers have been paying the whole 6.2% all along.
In the past two years the tax cut has saved you $3,120 if you averaged $84,000/year.
or saved you around that much if you made $102,000 or $10,000,000.
I’m gonna miss my 3120 that’s for sure. Bush era tax cuts should have been kept in place until the economy improves
Not exactly, its was 4.2% of your wages up to the taxable wage base
2011 wage base was $106,800 for a max. tax of $4,485.60
2012 wage base was $110,100 for a max. tax of $4,624.20
If you make less that the wage base you are taxed less than the max, if you made more you were taxed the max
I only used 84,00/yr because that’s what you make if 140/month is 2% of your salary
i didn’t feel like doing the math, or looking up the exact numbers. but, a person who makes $110,100 pays the same as someone making $10,000,000.
Yup. There is a maximum you can draw from SS too, that’s why there is a max deduction. But I do think the wealthy need to pay more of a % of their earnings than they do now
If you own a business you pay the employee and employers hare pretty much as well. Could be 12.4% of your earnings if you make enough in your paycheck
Exactly, to be honest, I’m surprised it lasted 2 years!!!
It’s going to be a rough 4 years.
I guess the Mayans were right, a lot changed since the 21st.
Take money away from people who work.
Give a cell phone with 250 minutes and 250 texts a month to people who don’t.
Sounds right.
I need to get me a Obama phone.
Damn Obama introducing the bill in 1984 through Reagan. Then later through Clinton and finally through Bush.
Clever fuck.
:ponder
Did not realize there are so members here that makes 400k+ a year…:rofl
Arguing politics with a Russian, I think ill pass.
FIFY.
exactly why i find it funny how fox news tells the middle/lower middle class to be outraged, when they are making like $40k/year.
Also, this is not really a tax, more like a forced retirement, since you will be getting money back in the end.
Getting money back in the end? I hope you have a better retirement plan for yourself then ss, I wouldn’t count on it in another 40 years
Obama supporters will be blaming shit on Abraham Lincoln next year…
no way he abolished slavery and got down with the slave labor bow chica bow wow
I’m not sorry facts and reality and fact checking websites disagree with your bias.
Don’t worry religion loves people who don’t fact check and are fear mongered. Praise Jesus!
I’m as much a supporter as you are rocket scientist however you keep making wrong references and you will look stupid regardless who the politician might be on the end of your ignorance.
Cell phones didn’t start till 08, hence “Obamaphone”. before the it was landline only. idk why anyone would need a cell ophone, landline phones work just fine. A cell phone is a luxury item, not a necessity.