It’s 15.3% counting both sides, and capped. And it’s the only “tax” that is paid back, at progressive rates, because it’s a retirement annuity not an income tax.
replyIt’s an income tax wearing the trenchcoat of a retirement annuity- it’s not one for any practical purpose.
replyFederal payroll taxes in the US are 15.3% (7.65% for each side).
replySocial security and Medicare are also payroll "taxes" in that they're not optional and are automatically deducted.
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