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kleinbl00 · 2940 days ago · link · · parent · post: Liam Stack: Here’s What We Know About the ‘Panama Papers’
What's really going to bake your noodle is a concept called "maximum taxable earnings." If you make up to $118,500 a year, you pay 7.6% of your earnings to social security. If you make 118,600 a year, you pay 7.6% of 118,500. If you make $118,500,000.00 a year, you pay 7.6% of $118,500.00. When you hear about social security going bankrupt? Yeah, pretty easy fix.