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To: Brian Griffin
I can see where the 50% might come from, the employer share of FICA, but the justification for going up to 85% escapes me.

In 1986 when Congre$$ changed the law to make SS benefits taxable.

Self Employment taxes are 15.3%, 7.65% from you and &.65% from your employer.

That's close enough to 15% for Congress.

37 posted on 08/09/2024 8:08:44 PM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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To: texas booster

Until 1986, social security benefits were not taxed.

It was “unseemly” to NOT have millionaires pay taxes on monies “they didn’t need”.


38 posted on 08/09/2024 8:21:42 PM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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