[Fishtalk]

Do the employers get a 2% reduction in their match?

If not, hell’s bell’s, where does their extra 2% go?

Does the employee still get credit for full salary or do they goose up the value of the dudctions to determine the salry on which to base the Social Security comes time to collect.

Inquiring minds want to know.

[rodguy911]

As an employer I am now paying 5.65% instead of 7.65% for payroll taxes. The SS/medicare part of that amount gets doubled when I actually pay the taxes,not the withholding.So for now I pay 4% less,it helps sabotage the system. But makes the regime look good since they are once again looking out for the little guy. More like watching him drown in truth.

[kabar]

Do the employers get a 2% reduction in their match?

No.

If not, hell’s bell’s, where does their extra 2% go?

The employer pays the same amount as does the self-employed. The SSTF receives the amount of the reduction from Treasury in the form of non-market, interest bearing T-bills, which holds SS harmless for the reduction in revenue. However, the shortfall must be made up by cashing in the T-bills by redeeming them from the General Fund, which borrows 42 cents of every federal dollar spent. Thus, the payroll tax holiday is just another unfunded stimulus.

Does the employee still get credit for full salary or do they goose up the value of the dudctions to determine the salry on which to base the Social Security comes time to collect.

The individual contribution is credited as though the full payment was made.

[bray]

No employers do not get a reduction, only employees who actually see the token tax cut.

Happy new year