[KarlInOhio]

The current SS payroll tax is 3.6% (vice 3.5%) each for employee and employer.

Actually it is 15.3%, half for the employer and half for the employee up to the SS cap (around $110k) and then 2.9% (again split 50/50) above that for Medicare alone.

The person you quoted was talking about raising it 3.5-4% to a total of 18.8-19.3%. Yikes! Especially because I pay both halves directly.

[kabar]

Actually it is 15.3%, half for the employer and half for the employee up to the SS cap (around $110k) and then 2.9% (again split 50/50) above that for Medicare alone.

Actually it is not. The 15.3% includes the HI contribution. The OASDI (SS and DI) is 12.4%--6.2% for employer and employee. The HI rate is 2.9%, 1.450 for employer and employee.

The 2013 earnings cap for OASDI is $113,700. The cap will be raised to $117,000 in 2014. There is no earnings cap for HI contributions and Obamacare adds a surcharge for those earning over $200,000 (single) or $250,000 for a couple.