It’s compulsory, but withdrawn separately from your gross income. You’ll see it listed as a separate line on your pay stubs as well as your income tax form.
There’s also a maximum payout every month. Technically speaking, it pays out more for people who live longer, so you’d be more correct in saying it’s taxes on the unhealthy.
If it’s not a tax, the government doesn’t have the right to require you to pay it. The Constitution actually outlines what the federal government can do. Everything else is the left to the States or the right of the individual
For example, in the constitutional challenge of Obamacare, it was ruled a tax, therefore constitutional.
Social Security is not taxation. It’s a government socialized retirement program, independent of state and federal taxes.
It’s not? So I don’t have to pay it?
It’s compulsory, but withdrawn separately from your gross income. You’ll see it listed as a separate line on your pay stubs as well as your income tax form.
So it’s a tax
It’s a retirement plan.
https://www.ssa.gov/prepare/plan-retirement
Great, but it’s paid by taxes on the poor since it is capped up to a certain income. The rich pay less
There’s also a maximum payout every month. Technically speaking, it pays out more for people who live longer, so you’d be more correct in saying it’s taxes on the unhealthy.
Just because it’s mandatory doesn’t mean it’s a tax.
If it’s not a tax, the government doesn’t have the right to require you to pay it. The Constitution actually outlines what the federal government can do. Everything else is the left to the States or the right of the individual
For example, in the constitutional challenge of Obamacare, it was ruled a tax, therefore constitutional.