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I got a raise in my old age social security check; so did my wife
Topic Started: Dec 21 2016, 05:39 AM (65 Views)
Banandangees
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Any body else?
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Pat
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How was the percentage?
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Berton
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Jim Miller
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Don't know yet.
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Banandangees
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Pat
Dec 21 2016, 05:46 AM
How was the percentage?

:smile: Can't figure out the percentage; or, even if it's a percentage..... percentage of tax on that raise.

For the past several years I and my wife got the same monthly net for two years running; and, we both had the same tax deducted, $104.90. So, I figured it was a flat tax, since my gross monthly amount was 3X her gross, in that I worked much longer than she did and paid tax on a much greater wage than she had. But for this coming year, we will pay different amounts in tax on that SS monthly payment. So apparently, it's not a "flat" SS tax. BUT, there seems to be a typical government reasoning/method behind what I can't figure out.... not that I've studied SS benefits that we paid into all these years. The net payment to me and my wife will be exactly the same as the last two years, even though we received a higher "gross than the previous two years."

Really, what seems to have happened is that the government is the one that got the raise.... in taxes. Go figure. Our gross has been raised, but the amount of the raise equaled the amount of increase in out SS tax. :teeth: So, our net is the same. The government gives us a gross raise, but then takes that raise amount back in taxes... and since my wife and I receive different gross amounts, the tax seems to have changed (in our case) from a flat tax to a % tax.

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Pat
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So SS was raised and the government confiscated the,raise. This must be one means to fund Obama care. On the backs of seniors. And we have another Obama legacy.
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