[upchuck]

Not only is there supposed to be a trust fund but they take 15% of our wages every month in SSI and another 7% in Medicare.

For 2010, the Social Security withholding was 6.2% for wages up to $106,800 in wages. The Medicare withholding was 1.45% with no limit on wages.

For 2011 only, the FICA (Social Security) percentage was lowered to 4.2%

Though not directly related, the employer pays the same amount as the employee.

Source 1
Source 2

[bray]

6.2% x 2=12.4% for 95% of the people should pay those SS checks.

How about they let those who don’t want SS out of the system? Imagine when they have your healthcare and he threatens to cut it off? Then you live under a dictator.

Pray for America

[maica]

For 2010, the Social Security withholding was 6.2% for wages up to $106,800 in wages. The Medicare withholding was 1.45% with no limit on wages.

For 2011 only, the FICA (Social Security) percentage was lowered to 4.2%

******

That extra 2 cents in the takehome pay for every dollar earned was a very sneaky part of the “stimulus” of our country: the consumer society. It is also a reason for part of the huge disconnect between revenue in to the US government vs expenditures every month.

I wonder what workers are going to think next January if/when the paycheck loses its little bonus! No, I don’t wonder. I know they will blame Republicans.