To: alisasny
Then you pay much less since FICA does not apply to incomes over $72,600.
This is such a misleading statement, it's ridiculous. The author doesn't realize 1.) that it only applies to compensation ABOVE the threshold, the sentence sounds like if you make $75K then you don't have to pay taxes. 2.) The threshold is more like $86K now.
To: dyed_in_the_wool
Then you pay much less since FICA does not apply to incomes over $72,600.
This is such a misleading statement, it's ridiculous....of course, the benefits paid are also capped after a certain amount - so it's not as though people stop paying at the limit, but continue to receive higher and higher paybacks.....
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