About that SS tax cut...
Aside from the fiscal mismanagement SS and Medicare taxes are split between employee and employer-- each paying half. Everyone knew that, right?
That half is 6.2% for Social Security and 1.45% for Medicare, with a few small adjustments here and there.
Sooo...
In cash money, employers get the biggest chunk of change and we get shit. If you make the median income (call it $65,000 because it moves a lot) you will pay almost $5,000. Your employer will get $5,000 x No of employees. (OK, not really because not everyone makes the 65 grand-- but you get the point)
Self employed get the big break because they pay the whole thing, so yer median self employed could get the whole 10 grand back.
Sounds good, sort of, but first you have to be back to work to owe the taxes you won't have to pay. Then, of course, you have to make up the funding.
Oh, and "median" means half over and half under, so more than half the people won't even see that 5 grand.
And that's all if they get the whole thing back. And it's not just a loan pushing the tax to some time in the future.