USA | senodak - 1/4/2025 20:42
It's just another tax. And SS is never going away, that's a political talking point meant to drive votes.
15.3 percent of every dollar earned in the US is put into that system... which most people don't even have a 15.3 effective tax rate on their income tax. It's a way to double tax everyone. The government will never ever ever let that program die because it is such a huge tax generator that takes care of something that would need to be paid for anyway. The government has no interest in executing the elderly so they don't die homeless and starving in the streets after their labor useful existence has been used up.
12.4% of the 15.3% is SS.
2.9% of the 15.3% is Medicare tax up to $250,000 over $250,000 Medicare tax is 3.8%. |
tax spending to save soc. sec?
