Comment on Social Security can be saved. Scrap the cap!
GreyEyedGhost@piefed.ca 12 hours agoOkay, so you’re talking about something where you have the bare minimum of knowledge. That’s cool, this is the i telnet after all. Not being an American, I haven’t spent a lot of time reading their tax laws or forms. I dont know if that applies to you. But I try to be more informed if I’m going to argue on the internet, and it appears SS is a marginal tax just like many others. In this case, it’s a flat tax up to $184.5k this year, and 0 for income above that amount. So your initial point was also wrong.
musicalphysics@discuss.online 11 hours ago
I have more than the bare amount of knowledge. I correctly conveyed actual tax code for the us. My initial point was not wrong in the slightest and I linked to actual irs tax forms to prove it. You are misinformed and shouldn’t try correcting people on items you clearly don’t understand.
GreyEyedGhost@piefed.ca 10 hours ago
You said if you made $184k you would pay $0 into SS. In fact you would pay over $20k. How is that correct?
musicalphysics@discuss.online 10 hours ago
I already posted the IRS form that demonstrates that fact.
There is a wrinkle that during the year until your received income actually exceeds the max you pay in. After that though the IRS will return the money when you file.
GreyEyedGhost@piefed.ca 8 hours ago
Have you heard of Schedule C? It’s mentioned at the bottom of page 9 in the pdf you linked. But please, do keep doubling down.