Path: ...!fu-berlin.de!uni-berlin.de!individual.net!not-for-mail
From: rbowman <bowman@montana.com>
Newsgroups: comp.os.linux.misc
Subject: Re: Remember "Bit-Slice" Chips ?
Date: 16 Dec 2024 03:31:59 GMT
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On Sun, 15 Dec 2024 23:09:13 +0100, D wrote:

> Ahh... the land of the free! Try 31% in sweden or around 20% where I am
> now. Oh, and the 31% has a cap, so you only get part of that to fund
> your own retirement. The rest goes to happy arabians!

There is a yearly maximum for the SS tax, which gets raised frequently. It 
was nice to max out and have a few weeks without the deduction at the end 
of the year. The current cap is $168,600 so I would guess the majority of 
the workers don't see those bonus weeks anymore.

Of course your benefits are taxed. Some states don't tax SS benefits but 
this one does so both the Feds and the state have their hands out. Then if 
you have an IRA or other retirement account there is a required minimum 
distribution yearly which is taxed when you hit 73. 

Between the assorted taxes it isn't as bad as Sweden but they're working 
on it. Somebody has to buy tanks for the Ukraine.