Boomers got the following raises over the last two years via SS: 2021 5.9 2022 8.7
Theyre getting bailed out
Boomers got the following raises over the last two years via SS:
2021 5.9
2022 8.7
Theyre getting bailed out
The thing is the way fed taxes are structured is very insidious. The base marginal rate can be 15% which is "low", but than they shove SS (12%, 6% on employee side), the state tax, local income tax, and FICA on top of that. I used to work in a lib dump, and my marginal federal rate of 18% was 35% after all the taxes and fees were taken out
The thing is the way fed taxes are structured is very insidious. The base marginal rate can be 15% which is "low", but than they shove SS (12%, 6% on employee side), the state tax, local income tax, and FICA on top of that. I used to work in a lib dump, and my marginal federal rate of 18% was 35% after all the taxes and fees were taken out
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