Social security is a payroll tax and is not touched by this in any way. You pay %6.2 and your employer pays 6.2% on your behalf: 12.4% total.
>>>>Social security is a payroll tax and is not touched by this in any way. You pay %6.2 and your employer pays 6.2% on your behalf: 12.4% total<<<
Of course the Employer actually pays the whole enchilada. Just some more Government mandated feel good Propaganda.
Anyone who hires an Employee does so by budgeting full Employee Compensation.
Those pushing for a $15 an Hour Minimum Wage are actually pushing an $18 an Hour Minimum Wage and I’ll bet a dollar to a donut they haven’t a clue nor do they care.
They just pick a number out of the air and go for it.
It’s no wonder so many Job Positions are 1099. Let the Worker take care of their own Payroll Taxes. The Government makes Employers the bad guys and drowns them in ridiculous Costs and Regulations.