Quote:
Originally Posted by biker1
The SS cap is actually at $176,100, not $110K. The SS tax is actually 6.2% to the employee and 6.2% to the employer, plus Medicare is 1.45% to the employee and 1.45% to the employer (no cap on Medicare). If you are self-employed it is 15.3% total as you pay it all. The Social Security Trust Fund is over $2T and that will be totally consumed (funding the deficit) in the next 8 years. Zuckerberg doesn't have several trillion dollars. The rest of the stuff in your post, whatever ...
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OK, I can pick nits, too.
I already said that I hadn't recently checked the cap. OK, it's now $176K. So, what? What does that have to do with my point
THAT THE RICH DON'T PAY? By the gooberment's own definition, you aren't rich until you hit that cap.
Yes, the employer picks up half of the 15% -- which they, of course, simply deduct from your wages. It's still 15% or your life that you could have used to save for your own retirement (and pass on to your kids!)
THAT THE RICH DON'T PAY.
The entire point you ignored with your childish "whatever" response, is that SS is a literal broken Ponzi scheme that can easily be fixed without hurting anyone. We simply need to open our minds and eyes to the fact that, whatever you want to call it, it's a government debt which we have let the rich off the hook from paying for the past 100 years.