wtf is this FICA crap

[xeemzor]

Originally posted by: techs
insurance that i dont even need

Well, sorry. If you become disabled our Christian country won't let you live on the streets and/or spread disease.

Except for the fact that it won't apply to me in any way shape or form due to the fact that I won't be receiving any benefits, or at least a ridiculously small amount of what I paid in. Social Security benefits one generation while screwing over the others.

 

[spidey07]

Originally posted by: xeemzor

Originally posted by: techs
insurance that i dont even need

Well, sorry. If you become disabled our Christian country won't let you live on the streets and/or spread disease.

Except for the fact that it won't apply to me in any way shape or form due to the fact that I won't be receiving any benefits, or at least a ridiculously small amount of what I paid in. Social Security benefits one generation while screwing over the others.

Social security was to assist those who made poor decisions. Now it's just elder welfare.

Make good decisions and you will have no troubles whatsoever. Social Security isn't going anywhere, ever. Look at as as gravy when you want to retire. Plan as if it isn't even there, be self supporting! Make good decisions, fund your own retirement and when the SS benefits kick in that's pure gravy right there.

 

[Journer]

ok to clear some things up:
1) most of the time, my business didnt make enough money to qualify for a license. its not a small company like most of you are thinking. i would define it more like, microscopic.
2) the times where i did make enough, i paid taxes, but it wasn't much.

i cant find my pay stub atm but i should be getting one friday, if i remember, ill post

 

[SearchMaster]

Originally posted by: spidey07
Make good decisions and you will have no troubles whatsoever. Social Security isn't going anywhere, ever. Look at as as gravy when you want to retire. Plan as if it isn't even there, be self supporting! Make good decisions, fund your own retirement and when the SS benefits kick in that's pure gravy right there.

Yeah, by the time most of us retire it will be enough to buy you a dish and two sides at the local Morrison's every month. Gravy!

 

[BrunoPuntzJones]

Originally posted by: sciencewhiz
Are you a W-2 or 1099 employee? Sounds like 1099 based on the FICA witholding rate. Therefore, you aren't paying anymore then you were supposed to be paying when self-employed. If you were W-2, you'd be paying less then you were supposed to when self employed.

You can't withhold FICA/Medicare on 1099s, they aren't employees if they are getting 1099s.

And it doesn't matter how much or little your business made. If you payed yourself wages you owe 15.3% of wages paid.

 

[rh71]

I actually looked at my paycheck the other day. I really need to stop the stocks and 401k... I want my money now!!!!

 

[Raduque]

Welcome to subsidizing old people!

I wish they'd all just die and stop draining our Social Security. Despite what I pay in, there ain't gonna be any if I ever reach retirement age.