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Originally Posted by liberalguy That percentage seemed way to high..I checked online and noticed this article: http://www.socialsecurity.org/pubs/ssps/ssp-32es.html
I did some more research and noticed that if you earn I think over 73,000 a year, you have to pay close to 12% for social security. I see your argument though. I would change your income to that bracket where you pay 12% so it looks better.
Thought I would let you know...  | HAHA. Actually had someone at work mention this to me as well. I read up on that link you posted which was a very good web site.
First off it says Quote: |
Individuals would be allowed to divert their half (6.2 percentage points)
| That is half... 2x6.2=12.4%
You are right to say that only 6.2% is used for social security. But a total of 12.4% is taken out of your income...half from you/half from employer(which is part of your pay).
Do you get it???
This is how corrupt the system is: http://www.socialsecurity.org/quickfacts/index.html#10 |