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wdmso · 01-10-2023, 08:00 AM

OK, now you deny that I pay more into SS, than CT teachers pay into their pensions

Prepare to be exposed as a liar again.

7% is more than 12%

Below is from Jim’s own link

In 2022, the Social Security tax rate is 12.4%, divided evenly between employers and employees:kewl

Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $160,200 (in 2023), while the self-employed pay 12.4 percent.

If you are you self employed? Than ya you’ll pay 12.4 because your the boss and the employe so your still as an employee only paying 6.2 %

Do the arithmetic. Math doesn’t lie 6.2 % is not 7%

Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $160,200 (in 2023), while the self-employed pay 12.4 percent.

01-10-2023, 08:00 AM	#152
wdmso Registered User Join Date: Jun 2012 Location: Somerset MA Posts: 9,127	OK, now you deny that I pay more into SS, than CT teachers pay into their pensions Prepare to be exposed as a liar again. 7% is more than 12% Below is from Jim’s own link In 2022, the Social Security tax rate is 12.4%, divided evenly between employers and employees:kewl Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $160,200 (in 2023), while the self-employed pay 12.4 percent. If you are you self employed? Than ya you’ll pay 12.4 because your the boss and the employe so your still as an employee only paying 6.2 % Do the arithmetic. Math doesn’t lie 6.2 % is not 7% Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $160,200 (in 2023), while the self-employed pay 12.4 percent. Last edited by wdmso; 01-10-2023 at 08:22 AM..