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A Late Valentine? Millionaires Stop Paying into Social Security on February 18th


#1

A Late Valentine? Millionaires Stop Paying into Social Security on February 18th

Kevin Cashman

By February 18th, someone making $1,000,000 in 2019 will have stopped paying into Social Security for the year. Social Security, which provides retirement, disability, and survivor benefits to countless Americans every year, only taxes the first $132,900 of a salary (up from $128,400 in 2018). If you make more than this cap, that income is not subject to the tax.


#2

Someone making one million does not need SS so why should they pay more in SS taxes than they are already?


#3

And then it’s : Why should I pay for health care when I don’t need it. Hey, my house isn’t on fire so why? Me and my kids don’t read so why the city library? And on and on.


#4

Yeah, I agree, but that is how they think and act.