4 ms·
Pretty cool that the taxes high earners stop paying are not considered income taxes. (Social security and Medicare)
by maxerickson 5mo ago
Pretty cool that the taxes high earners stop paying are not considered income taxes.
(Social security and Medicare)
- didgetmaster 5mo agoSocial Security tax is the only tax that has a limit. Medicare tax applies to all wages and high earners even pay an extra percentage. SS tax has a limit because benefits are also limited. It is a forced retirement plan where if you live long enough, you might get back what you paid in.