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In reply to the discussion: Easy cure for the Social Security issue..This is a no brainer. [View all]trc
(823 posts)62. My wife is a CPA tax specialist
If you are self employed you absolutely have to pay your SSI and your Medicare. That is why so many companies now try to claim employees are contract labor, they do not want to pay the SSI and Medicare contributions, so the contractor has to make up the difference. She tells every self employed client to set aside at least 15% of all earnings and make contributions in a timely fashion. The IRS gets a bit pissy about this.
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I understand what you are saying.. but if you contribute you should be able to
Peacetrain
Apr 2019
#2
I agree we lift the cap, but I don't agree it's baloney to lift the earnings.
MadDAsHell
Apr 2019
#45
The people who benefit from the contribution caps are still eligible for SS, right?
forgotmylogin
Apr 2019
#47
Fair enough, but then it really isn't insurance and probably shouldn't be referred to as such.
MadDAsHell
Apr 2019
#53
" You do not have to pay into SS if you are self employed etc. " "its something we choose to pay for
pangaia
Apr 2019
#6
Individuals Who Receive Income From LLC's Are Exempt From Paying into Social Security
dlk
Apr 2019
#10
As a self-employed attorney, I can assure you self-employed people pay SS taxes.
TomSlick
Apr 2019
#30
I saw a post on FB saying something like, "I paid into Medicare all my life, screw letting
brewens
Apr 2019
#63
The trust funds were never "raided". The tax rate people paid into the fund actually went up...
PoliticAverse
Apr 2019
#41
the Trust Fund is expected to run out in 2035 even if Congress paid back the IOUs
Kaleva
Apr 2019
#57
You are wise, Peacetrain. Yes...Soc. Sec. HAS been tweaked before, to make it cont. working.
Honeycombe8
Apr 2019
#23
What about collecting the debt that has been leveraged against it to pay for tax cuts to the rich?
WyattKansas
Apr 2019
#28
The debt is being repaid. In about 15 years it'll be all paid back and that is when....
PoliticAverse
Apr 2019
#40