Quote:
Originally Posted by defrey12
It’s kind of funny that the article fails to mention the most regressive of taxes—and it doesn’t matter where one lives—Social Security from one’s paycheck. 7.5% directly to the Federal Government on every dollar earned, every paycheck. One doesn’t even get to see those dollars…gone before one gets their check.
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Everyone pays 7.5 percent into Social Security, but, when they receive the benefits, low income people get a much higher income return on the amount they paid in as compared to high income earners. Also, some high income people pay a Medicare premium of about $600 per month to receive the exact same benefit that low income people receive for $175 per month.