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re: I support Trumps proposed cuts to Social Security!

Posted on 3/14/24 at 11:33 pm to
Posted by Bass Tiger
Member since Oct 2014
46353 posts
Posted on 3/14/24 at 11:33 pm to
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 by La Place Mike
West Florida Republic
Member since Jan 2004
28843 posts
Posted on 3/15/24 at 10:40 am to
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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