The employee pays 100% of his social security taxes. The government hides this fact by having it appear that his employer picks up 50%. If people saw how much the government was actually stealing from them there would be massive outrage. Can’t have that now, can we?
Exactly. The employer contribution is wages not paid to employee.
I have seen employers list this money in total compensation for salaried employees.
“The employee pays 100% of his social security taxes. The government hides this fact by having it appear that his employer picks up 50%.”
Not true. The employer does pay 50%.
How you figure they do not stems from a totally inaccurate understanding of the matter.
I imagine you are trying to say the employer does not pay their half of social security, the government does, because what the employer pays in FICA taxes is a business expense tax deduction - AS IS ALL EMPLOYEE COMPENSATION.
1. Your argument would imply the employer does not actually pay the salaries or any other form of employee compensation, because the employees salaries are also a business expense tax deduction. Nonsense.
2. Business expense tax deductions, just like individual itemized deductions are NOT one for one - expense tax deduction, dollar of tax reduced. No, that’s not it. They directly reduce the taxable portion of income, not directly the amount of the tax.
I think you are confused.
> The employee pays 100% of his social security taxes. The government hides this fact by having it appear that his employer picks up 50%. <
Hmm… it’s a subtle thing. But it’s also a fair point. The employer allocates a pot of money for employees. Some of that pot goes to paying Social Security taxes, and so is not available to increase wages and benefits.