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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Fiscally Conservative who wrote (53319)2/10/2006 10:14:54 AM
From: GraceZ  Read Replies (2) of 110194
 
When people print out the rate and it doesn't include the whole rate, I know that they haven't really investigated very well. It has worked out well for Congress to split it because the average worker doesn't have a clue just how much of their income goes into the scheme.

Since I've always been self-employed I'm painfully aware of what the real rate is. I pay 12.1% SS and 3.2% Medicare for a total of 15.3%.

So do you whether you realize it or not.

When people tell me that the employer pays this "for them" it makes me crazy. It is the same simplistic thinking that makes them think they get "free" health insurance from their employer. Both are paid from the employee's labor, both are huge hits on their income.
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