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The Range
Law & Order
Remember when socialism was a dirty word?
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<blockquote data-quote="Mad Professor" data-source="post: 2845673" data-attributes="member: 5316"><p>You missed the mark there, Dennis. Federal government employees hire the last 31 years have been fully contributing to Social Security. Those hired before that have to contribute a like amount to CSRS (the old pension system for Fed employees) and Medicare. Further, those that worked in the private work place (before, during, or after fed employment) lose SSI benefits on the money they paid in unless they have worked 40 quarters. Even if they earn 40 quarters, their benefit is reduced by ~50%, yet they still pay in the same percentage for work performed in the private sector. </p><p></p><p>Self employed workers pay in 15.3% to SSI. They pay both the employee and employer share of 5.65% each. </p><p></p><p>I am a Federal Employee on the old CSRS system. I had previous, concurrent, and will have post private employment after my retirement. So because I have worked both, I'm being "taxed" 50% of my SSI benefit. Had I not worked 40 Quarters, I would have been taxed 100%.</p><p></p><p>I'm also self employed. I pay 15.3% into SSI, 28% Federal, and 5.25% in state taxes on that employment.</p></blockquote><p></p>
[QUOTE="Mad Professor, post: 2845673, member: 5316"] You missed the mark there, Dennis. Federal government employees hire the last 31 years have been fully contributing to Social Security. Those hired before that have to contribute a like amount to CSRS (the old pension system for Fed employees) and Medicare. Further, those that worked in the private work place (before, during, or after fed employment) lose SSI benefits on the money they paid in unless they have worked 40 quarters. Even if they earn 40 quarters, their benefit is reduced by ~50%, yet they still pay in the same percentage for work performed in the private sector. Self employed workers pay in 15.3% to SSI. They pay both the employee and employer share of 5.65% each. I am a Federal Employee on the old CSRS system. I had previous, concurrent, and will have post private employment after my retirement. So because I have worked both, I'm being "taxed" 50% of my SSI benefit. Had I not worked 40 Quarters, I would have been taxed 100%. I'm also self employed. I pay 15.3% into SSI, 28% Federal, and 5.25% in state taxes on that employment. [/QUOTE]
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