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re: I support Trumps proposed cuts to Social Security!
Posted on 3/14/24 at 11:33 pm to La Place Mike
Posted on 3/14/24 at 11:33 pm to La Place Mike
quote:
I noticed you conveniently left out the part where I stated the money (15.3%) taken from our income over +45 years is compounded at 5%....
It doesn't read that way. Are you and your wife self employed?
Doesn't matter because you made the number up any way to try and prove a point.
The 5% compounded annually is in the post.
Proving a point is using simple mathematics on the compounded earnings of the Social Security and Medicare taxes that were paid by a couple who worked +45 years.
It's not uncommon for a married couple who remain employed over a 45 year period to earn over $3-4 million collectively.
15.3 % of 4 million is 612k, now take that and start compounding the SS and medicare taxes over 45 years and see what you get.
Posted on 3/15/24 at 10:40 am to Bass Tiger
quote:
15.3 %
You are not self employed so you didn't pay 15.3% in to the system. Your simple math still needs some work.
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