Comments on: Your Tax Dollar - 12.4% In, 20% Out to Social Security http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html Retire happy, healthy and wise. Sat, 30 Aug 2008 10:12:52 +0000 http://wordpress.org/?v=2.6.1 By: Peter http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7235 Peter Thu, 19 Apr 2007 03:31:15 +0000 http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7235 I have to say, your math is terrible. For one, I'll assume that you arrived at the 6.6% shortfall by subtracting 12.4 from 20, which is not 6.6, but 7.6. However, the 12.4% is a percentage of Salary, whereas the 20% is a percentage of the taxes paid. You are comparing apples to oranges. If you round the percentage of your salary up to 40%, then 20% of that is 12.5%. There is no discrepency. In fact, these are estimates. Social Security is still bring in more money that it is paying out in benefits, and will continue to do so for at least 10 more years. I have to say, your math is terrible. For one, I’ll assume that you arrived at the 6.6% shortfall by subtracting 12.4 from 20, which is not 6.6, but 7.6. However, the 12.4% is a percentage of Salary, whereas the 20% is a percentage of the taxes paid. You are comparing apples to oranges. If you round the percentage of your salary up to 40%, then 20% of that is 12.5%. There is no discrepency. In fact, these are estimates. Social Security is still bring in more money that it is paying out in benefits, and will continue to do so for at least 10 more years.

]]> By: fivecentnickel.com http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7012 fivecentnickel.com Mon, 16 Apr 2007 01:33:45 +0000 http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7012 <strong>One Year Ago This Week (April 8th - April 14th)...</strong> ... One Year Ago This Week (April 8th - April 14th)…

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]]> By: fivecentnickel.com http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7002 fivecentnickel.com Sun, 15 Apr 2007 23:23:23 +0000 http://www.myretirementblog.com/your-tax-dollar-124-in-20-out-to-social-security.html#comment-7002 <strong>Weekly Roundup - 04/13/07...</strong> ... Weekly Roundup - 04/13/07…

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