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beerfd

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I was looking at my total SS payment for the year, off my last pay-stub, and it's about half what I paid last year. Now, this is according to my W-2 from last year. Was there a change in SS payments for this last year? Anybody know? I actually made more this year..
 
beerfd said:
I was looking at my total SS payment for the year, off my last pay-stub, and it's about half what I paid last year. Now, this is according to my W-2 from last year. Was there a change in SS payments for this last year? Anybody know? I actually made more this year..
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This may help.


For 2011, the Senate passed 2010 Tax Reform Act gives a two-percentage-point payroll/self-employment tax holiday for employees and self-employeds. As a result, employees will pay only 4.2% Social Security tax on wages and self-employment individuals will pay only 10.4% Social Security self-employment taxes on self-employment income up to the threshold.

The maximum savings for 2011 will be $2,136 (2% of $106,800).

Read more: What is the 2011 maximum social security withholding amount
What is the 2011 maximum social security withholding amount
 
mustache said:
This may help.


For 2011, the Senate passed 2010 Tax Reform Act gives a two-percentage-point payroll/self-employment tax holiday for employees and self-employeds. As a result, employees will pay only 4.2% Social Security tax on wages and self-employment individuals will pay only 10.4% Social Security self-employment taxes on self-employment income up to the threshold.

The maximum savings for 2011 will be $2,136 (2% of $106,800).

Read more: What is the 2011 maximum social security withholding amount
What is the 2011 maximum social security withholding amount
Click to expand...

I got a tax-cut all year, and didn't even realize it.
 
mustache said:
Bernie Sanders: Social Security Is 'Not Going Broke' | Video - ABC News
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When Social Security was first instituted, there were 6 people paying in for every 1 taking out. Now the ratio is 2 paying in for 1 taking out. Do the math. There is no Social Security surplus...congress moved that into the general fund years ago. The only surplus is a bunch of IOU's from congress. Where are they going to get the money to repay the IOU's?

Now some members of congress are saying we shouldn't expect so many "entitlements". This after I've been paying into Social Security for almost 50 years! I didn't have a choice either.
 
snaildriver said:
When Social Security was first instituted, there were 6 people paying in for every 1 taking out. Now the ratio is 2 paying in for 1 taking out. Do the math. There is no Social Security surplus...congress moved that into the general fund years ago. The only surplus is a bunch of IOU's from congress. Where are they going to get the money to repay the IOU's?

Now some members of congress are saying we shouldn't expect so many "entitlements". This after I've been paying into Social Security for almost 50 years! I didn't have a choice either.
Click to expand...

You'll get your social sec. Check when the time comes..
 
snaildriver said:
When Social Security was first instituted, there were 6 people paying in for every 1 taking out. Now the ratio is 2 paying in for 1 taking out. Do the math. There is no Social Security surplus...congress moved that into the general fund years ago. The only surplus is a bunch of IOU's from congress. Where are they going to get the money to repay the IOU's?

Now some members of congress are saying we shouldn't expect so many "entitlements". This after I've been paying into Social Security for almost 50 years! I didn't have a choice either.
Click to expand...

I think it was a lot more than 6:1 when it started. The whole thing pisses me off.
 
If the Bush tax cuts would expire. Capital gains, estates, all income rates, would all go back to Clinton levels. It means all the Affordable Care Act cost controls would go into effect and all the taxes would be collected. It also means cuts to Medicare in accordance with existing law. Add all this up and you have serious revenue coming in.

Also SS was designed to and always has functioned independent of the general fund.
 
How about everybody pays taxes? That would be some serious revenue,theres waaaay to many deadbeat parasites out there. If you live here you pay Federal Income Tax. Our debt is insermountable under any plan.
 
What happens to the money paid in by someone who dies before they can collect or doesn't collect much before they buy it? I understand about the surviving spouse or minor children but what about the ones that have neither? Is it just a freebie for uncle Sam?
 
Blue67 said:
What happens to the money paid in by someone who dies before they can collect or doesn't collect much before they buy it? I understand about the surviving spouse or minor children but what about the ones that have neither? Is it just a freebie for uncle Sam?
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Well this government program was set up for the poor bastards like ourselves that work all your life and pay in!!!!! It was not intended for Spouses,serviving minor children, health benifit, mental benifits and so on and so on. Thanks to all the polititions that promised intitlement programs to the low life m_____f_____s that want to be parisites on us. this dragon the we call the government is out of control; with that being said, it is like anyother program that either corpoate America or corporate government promises us......... SORRY times have changed so we can not give you what we promised... Just work till you drop...THANKS for voting!!!!!!!!
 
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