No SSN taxes after TC 132.9k ! any catch?

Walmart commonNow
Oct 20 28 Comments

Recently for this annual year, my TC hit more than 132.9K and gotta know you don't have to pay SSN past that limit.

Am happy i don't have to pay more but am i missing anything or is it as simple as it sounds?

YOE - 4
TC - 160

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TOP 28 Comments
  • New mF35
    Elizabeth Warren wants to change this sadly
    Oct 20 8
    • Jane Street Capital ynthdj
      Good. It's ridiculous to have a tax whose rate gets lower as your income increases. I would gladly pay social security on my full income to help the people who need it.
      Oct 20
    • Twitter
      a.a.milne

      Twitter

      BIO
      It’s all trolling and shitposts.
      a.a.milne more
      We need to dismantle social security and Medicare. Deregulate healthcare. Let people keep their money and make their own decisions
      Oct 20
    • Microsoft / Eng bebK16
      @a.a.milne please take a class beyond macro 101. Health care is the opposite of a free market, and not because of Medicare. You think you're going to negotiate prices when you're mid-heart attack?
      Oct 20
    • Bloomberg F.U. Money
      Jane Street, course you would. You likely make 75-100% more than people with your level of experience elsewhere. Why don’t you take OP’s TC and see how you feel about every marginal dollar you have to pay. We all must look really small from over there on your high horse.
      Oct 20
    • Jane Street Capital xnfjs
      If OP is struggling to make ends meet with $160k TC, they've got bigger problems than a 6% tax.
      Oct 20
  • Credit Karma KrmaPolice
    No catch. Congrats.
    Oct 20 1
    • Walmart commonNow
      OP
      Good to know. Ty 💸
      Oct 20
  • Amazon / Eng 1209348756
    As simple as it sounds... it feels so good doesn’t it?
    Oct 20 1
    • Walmart commonNow
      OP
      Oh yes ! Indeed 💰
      Oct 20
  • Twitter
    a.a.milne

    Twitter

    BIO
    It’s all trolling and shitposts.
    a.a.milne more
    Only if you vote for Trump.
    Dems want to remove the cap on FICA taxes so you’ll have to pay higher SSN and Medicare on your entire income
    Oct 20 0
  • Amazon wmr
    SSN tax giveth and AMT taketh away
    Oct 20 0
  • Capital One
    aware_wolf

    Capital One

    PRE
    OSIsoft
    aware_wolfmore
    Just wait until you hit supplemental Medicare.
    Oct 20 2
    • Wayfair / Eng BScK77
      Been there and done that. The rate's 0.9% so it's not a huge hit.
      Oct 21
    • Intel D’s🥜
      Shhh, let’s just pretend like less than 1% tax is the worst thing ever.

      “I would rather be shanked in prison than pay 1%” - Donald Trump
      Oct 21
  • Apple Alcatrazzy
    Is it TC? Or base?
    Oct 20 2
  • Citadel Securities / Eng bluetiger
    Catch is you had to pay for the first $133k
    Oct 20 1
    • Walmart commonNow
      OP
      Wow ! *Slow claps*
      Oct 21
  • Bloomberg F.U. Money
    What people don’t get about social security tax is that it is not money that you pay to your future self. It’s money that you pay to retired people now in the hopes that the future generations will do the same for you.
    Oct 20 1
    • Microsoft / Eng bebK16
      Only idiots don't know that (idiots like Paul Ryan, as an example). SSI has *always* been an insurance program (it's in the name!), not a forced savings plan.

      Aside from that, if there aren't enough future workers, then GDP will fall (GDP is the combination of number of workers and productivity; there's only so much more productive people can get, so you need to keep numbers up; it's why Japan is screwed, and why we need immigrants). If GDP falls, the economy falls with it, and your near TEOTWAWKI territory.

      So yeah, you kinda want SSI to survive, because the alternative is significantly worse.
      Oct 20
  • GoodRx AlCzervik
    Next year it will be $137,700. I'm old enough to remember when it was 80k. 🤷‍♂️
    Oct 20 1
    • Walmart commonNow
      OP
      You have seen a lot and Kudos to you !
      Oct 21
  • New bhDC80
    Can someone explain this?
    Oct 20 0

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