Most people only pay half of that and their employer pays the other half. Self employed people pay all of that, that’s me. I don’t have any separate retirement accounts or health insurance benefits either, but none of that is factored into my taxes.
While this is certainly technically true most modern economists believe that companies compensate for this by offering lower wages, so it’s kinds 6 of 1, half dozen of the other.
Maybe put this way, if I didn’t work at my company they wouldn’t pay either half of the social security and medicare. So its mostly me who’s bringing that money to the government since I’m the catalyst.
Most people only pay half of that and their employer pays the other half. Self employed people pay all of that, that’s me. I don’t have any separate retirement accounts or health insurance benefits either, but none of that is factored into my taxes.
While this is certainly technically true most modern economists believe that companies compensate for this by offering lower wages, so it’s kinds 6 of 1, half dozen of the other.
Maybe put this way, if I didn’t work at my company they wouldn’t pay either half of the social security and medicare. So its mostly me who’s bringing that money to the government since I’m the catalyst.