• 0 Posts
  • 4 Comments
Joined 3 years ago
cake
Cake day: June 13th, 2023

help-circle
  • The biggest part of that is social insurance. It’s called a tax (FICA) in America to make people hate it.

    And here’s the fun part: there’s an annual cap which is about the same as a construction worker’s salary. Once the cap app is reached they stop deducting it. So high earners only pay it for the first few pay periods of the year.

    I remember the first time I earned more than the cap. I thought somebody had made a mistake when my take-home pay went up mysteriously in the middle of the year. So imagine: Bezos and friends are all done paying FICA in the first ten or fifteen minutes of the year.