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Seniors

In reply to the discussion: New law re tax increase [View all]

JDPriestly

(57,936 posts)
1. Those now working will be required to pay the percentages of their pay in payroll taxes
Wed Dec 21, 2011, 04:41 AM
Dec 2011

that those of us who are now retired paid when we were working.

That is my understanding.

When I received my Social Security card way back in the 1950s, I was advised that the amounts of my benefits would depend on how much I put into that insurance fund.

So, I do not understand how people now working will be credited for this time when they become eligible for benefits if the payroll tax vacation is continued.

I would like to see middle class people and low-income people get the tax relief, but reducing payroll taxes is not the way to do it.

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