This tax is really the SS payroll tax they cut a year or so ago. It was for 1 or two years. It lowered the amount of SS taxes collected from every paycheck, which should’ve been objected to, since SS is supposed to ‘be there’ for you when you retire...as a little something extra to help with your personal IRAs. So, it basically expired and now everybody is paying the whole amount into SS once again. It is not really a new tax, just reinstatement of the original one. Obama wanted to make everybody THINK he was saving them money, when in fact, he was lessening the amount you’ll have saved overall. Good thing it was temporary. IF they actually FIX the program, where you could opt out of SS and plan your own retirement annuity, you could actually save a lot more. But, from a retiree’s perspective (meaning I am one) it is not enough to live on, regardless of how much they take out because they use it for everything (almost), except what it is intended for.
But..but...but...
According to every liberal I know, SS is fully funded and solvent til 2024....
Shame more of them don’t have jobs so they could see for themselves....