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Tool Talk Discussion Forum

About that Social Security

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John Garner

11-19-2006 16:55:54




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MR --

You've got the Social Security number wrong. The Survivor-and-Disability portion of SS is six percent off the top of your paycheck PLUS a matching amount that your employer doesn't get to call "pay". The so-called Employer Contribution is, nevertheless, real money that comes out of our employers' checking accounts, just like our pay does, but The Powers That Be would rather that we not be reminded by every paystub that the true Survivor-and-Disability tax rate is just over 11.3 percent.

The Powers That Be play exactly the same game with the Medicare portion of Social Security, adding another few percent to the overall Social Security tax rate.

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Midwest redneck

11-19-2006 17:03:22




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 Re: About that Social Security in reply to John Garner, 11-19-2006 16:55:54  
Oh yeah, I forgot. What a scam! I wish I could go to the public and say, "hey give me $1000 per year and at the end of 10 years I will give you your $10,000 back" Some folks would fall for it but the government would lock me up for stealing their idea. I will have to presume that SS wont be there for me in 25 years.



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