More SS Details with tables I calculated at:
kirklindstrom.blogspot.com
I read and hear a lot of nonsense about how the rich "don't pay their fair share" but as someone on Medicare, I'm grateful for those making $1M a year who pay 2.9% ($29,000 per million) of that into Medicare.
I am also not looking forward to having to pay many times more than what I paid this year as Medicare charges go up when you start taking money from your tax deferred IRAs! They did not warn us of this huge tax hit when we were saving... fortunately, I figured it out long ago and stopped contributing in 1998... but my trading and investments have done so well that I'm going to still get hit. Thus I'm taking distributions early to either convert to my ROTH or spend on remodeling.
ssa.gov
Individuals with a MAGI less than or equal to $106,000
Married couples with a MAGI of $212,000 or less | 2025 standard premium = $185.00 |
Individuals with a MAGI above $200,000 and less than $500,000
Married couples with a MAGI above $400,000 and less than $750,000 | Standard premium + $406.90 |
Also, we forget that the base rate subject to the combined 15.3% (16.2% if you make over $200K) total Payroll Tax goes up faster than inflation each year.
For 2026, the base rate will go up 4.8% to $184,500 while the COLA was "only" 2.8%. |
