U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-29-2009, 05:17 PM
 
Location: Two Rivers, Wisconsin
11,727 posts, read 11,567,118 times
Reputation: 12484

Advertisements

Me, too! I worked for 41 yrs. always paying in so I hope to get something back out!
Reply With Quote Quick reply to this message

 
Old 10-29-2009, 05:30 PM
 
71,953 posts, read 71,997,171 times
Reputation: 49509
i only realized recently that our social security is actually taxed to us as much as 135% ( no one ever said i was the sharpest bulb in the draw).... when we work we pay taxes on the amount of money that ss takes from our check. but that only represents 1/2 of what is payed in on our behalf. our boss pays the other 1/2 of our payment and the taxes on that 1/2 too. both 1/2 represent about 15% of your pay not including taxes maybe even more now..... when you finally receive ss your payment can be taxed a 2nd time up to 85% depending on your income.

thats a whopping 135% tax , and our gov't thought we on this forum werent smart enough to realize what they were doing to us, guess we showed them.
Reply With Quote Quick reply to this message
 
Old 10-29-2009, 05:39 PM
 
5,825 posts, read 13,337,677 times
Reputation: 9304
Quote:
Originally Posted by mathjak107 View Post
, and our gov't thought we on this forum werent smart enough to realize what they were doing to us, guess we showed them.
people on this forum are not only smarter than our representatives, but 100% more honest.
Reply With Quote Quick reply to this message
 
Old 10-30-2009, 02:59 PM
 
8,225 posts, read 11,942,304 times
Reputation: 18088
Quote:
Originally Posted by mathjak107 View Post
both 1/2 represent about 15% of your pay not including taxes maybe even more now..... .
You're thinking of the combined Social Security and Medicare taxes which amount to 15.3%. Social Security by itself is 6.2% for both the employee and employer, so the total is only 12.4%.
Reply With Quote Quick reply to this message
 
Old 10-30-2009, 03:58 PM
 
71,953 posts, read 71,997,171 times
Reputation: 49509
you right, i was just looking at the total that comes out.... we are still getting hammered at 135% in taxes though if we are taxed at the max
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top