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The Middle Class Gets Completely Jacked on Taxes, Especially Social Security Taxes

Wednesday, January 11, 2017 8:45
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WORD.

(From Zerohedge)

Most middle class people pay about 28 percent off the top in federal taxes; add more if you are self-employed and have to pay “your share” of the federal tax (it is actually called a contribution) toward FICA, also known as the Social Security tax. These taxes have the effect of making it very difficult to set aside money for retirement – because all your  working life, you are taxed to pay for the retirement of other people, many of whom do not “contribute” much and sometimes nothing at all. Regardless, the point is you could have provided for your own retirement – and probably, retired at a much younger age – if you hadn’t been fleeced at every paycheck to provide money for other people’s retirement.

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Source: http://www.againstcronycapitalism.org/2017/01/the-middle-class-gets-completely-jacked-on-taxes-especially-social-security-taxes/

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