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Someone posted this mocking retarded Americans
jerrab » 5 minutes ago » wrote: ↑ social security tax is less and it is not taken out after 167,000. lift the cap of the amount of how much money is taxed for social security.
edit//// $168,600
Social Security tax is calculated as a percentage of gross earnings. Every year, the government sets a limit on the amount of your earnings that can be taxed for Social Security. That limit in 2024 is $168,600, up from $160,200 in 2023
6.2 percent
Social Security is financed through a dedicated payroll tax. Employers and employees each pay 6.2 percent of wages up to the taxable maximum of $168,600 (in 2024), while the self-employed pay 12.4 percent.