Quote:
Originally Posted by MrGompers
Very few people will ever pay "well into six figures in Medicare tax" I already provided examples with math based on a 100k a year salary. The tax is 1.45% which is $1,450 per 100k earned W-2 income. Very few people are earning that type of salary consistently for 40+ years straight.
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I gave an example. $200,000 self-employed earner paying a 23% effective federal income tax rate pays $4,466 in Medicare tax per year. It takes just over 22 years to hit the $100,000 mark in Medicare taxes paid. Many S-corp or LLC owners earn even more than $200,000/year.