But part of the Social Security Payroll Tax is paid by the Employer. The Employee pays 6.2% of their pay, the Employer pays another 6.2%, and that is on income up to $168, 600. The total is 12.4%. So those making substantial amounts of money beyond $168,600 are not really paying much into the system. It is mainly the Employee and the Employer, up into the limit of$168,000.
I am a strong advocate of this system. People are basically paying into a Federal Retirement Plan but these Plutocrats and Fascists won't even let people have that. It is not their money, as you point out. It is fine for Musk and Ramaswamy to make millions and billions of dollars (some of that from Government Contracts like Musk) but when someone's Elderly Grandma or Disabled Uncle needs a little help from the Government, well that is somehow waste or government inefficiency.
And this is after many working people and middle class folks have already paid into the system for years and years. It is outrageous. The only people that benefit from the MAGA/DOGE/Project 2025 Plan are the wealthy and the super wealthy. Any working person who approves of this plan is a fool and a sucker.
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