Posted on 12/26/2012 9:28:06 AM PST by Olog-hai
4 am bump! It’ll be OK cause in 20 years at 78 things will be getting better, right? Boy are we screwed. ;-(
Employees are only paying in 4.2 % of their gross wages to Social Security (FICA) for the past 2 years. The prior standard for many years was 6.2%.
I don’t know what the gross wages of Americans who file income taxes are, but I do know that at least $30 billion is not going into Soc Sec on an annual basis, currently.
It is no surprise to me that they are running in the red...per Obama cutting their contribution to the fund.
The real kicker?
When you do retire—you will get a small payout because you didn’t pay in the 2 % for these past 3 years......
Don’t squawk then. You lived by it—you die by it.
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