- Sep 19, 2011
- 28,394
- 9,971
- 900
So Social Security is increasing the payments to recipients by 8.3% for 2023. But as in the law of gravity.." what goes up, must come down"!
And so too SS as any employee in 2023 that makes over $160,200 a year is the top for employer to pay the 6.2% SS/Medicare tax.
Prior to 2023 it was $147,000. Employers: In 2023, the Social Security Wage Base is Going Up
So... with About 8 million workers make more than the Social Security earnings cap and 7.4 million earn between $150,000 and $400,000.
www.forbes.com
This will be an additional $13,200 salary ($160,200 less $147,000) at 6.2% times 8 million that's another $6.5 Billion in tax revenue that GUESS WHAT???
Biden will take credit for!
But he will not say on average, Social Security benefits will increase by more than $140 per month starting in January 2023.
blog.ssa.gov
So even though the government revenue grows by $6.5 billion the payout to SS will be to 65 million Americans receive social security benefits every month.
65,000,000 recipients X $140/ month X 12 months means $109,200,000,000 in addition to the average in 2022 Social Security benefit is $1,657 per month.
or total per year in 2022 of $1,292,460,000,000.
So for 2023 the total SS cost will be at least $1,401,660,000,000.
Oh and by the way again... where will this SS cost of living increase come from?
A vicious circle. Businesses government expenses increase i.e. SS tax at a minimum, so what will they do? Raise prices. Who pays? WE DO!
For example a simple product asphalt. Used to build Of the 2.6 million miles of paved roads in the U.S., over 94 percent are surfaced with asphalt.
The cost per ton is $40 to $80 and per square foot is $0.75 to $2.00
The U.S. has roughly 3,500 asphalt production sites and produces about 350 million metric tons per year.
3% of all Oil (Global oil production amounted to 89.9 million barrels per day in 2021 or 32.813 billion barrels) or 984,405,000 barrels use for asphalt.
So when Biden says..."I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”...
What do you think happens to the cost of oil used in production of asphalt? What do you think happens to our costs of living? Which AGAIN with SS raising
under the COLA (Cost of Living Adjustment) law SS payments must increase in 2023 8.3%!!!!!
As Friedrich Wilhelm Nietzsche said (in German)...“Der Teufel steckt im Detail”
And so too SS as any employee in 2023 that makes over $160,200 a year is the top for employer to pay the 6.2% SS/Medicare tax.
Prior to 2023 it was $147,000. Employers: In 2023, the Social Security Wage Base is Going Up
So... with About 8 million workers make more than the Social Security earnings cap and 7.4 million earn between $150,000 and $400,000.
Elites Earning $50,000 Per Hour Already Paid Their Social Security Taxes For 2022
Some American workers earn so much they stopped paying FICA taxes during their first bubble bath of the New Year.
www.forbes.com
Biden will take credit for!
But he will not say on average, Social Security benefits will increase by more than $140 per month starting in January 2023.
Social Security Benefits Increase in 2023
Approximately 70 million Americans will see a 8.7% increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. On average, Social Security benefits will…
blog.ssa.gov
or total per year in 2022 of $1,292,460,000,000.
So for 2023 the total SS cost will be at least $1,401,660,000,000.
Oh and by the way again... where will this SS cost of living increase come from?
A vicious circle. Businesses government expenses increase i.e. SS tax at a minimum, so what will they do? Raise prices. Who pays? WE DO!
For example a simple product asphalt. Used to build Of the 2.6 million miles of paved roads in the U.S., over 94 percent are surfaced with asphalt.
The cost per ton is $40 to $80 and per square foot is $0.75 to $2.00
The U.S. has roughly 3,500 asphalt production sites and produces about 350 million metric tons per year.
3% of all Oil (Global oil production amounted to 89.9 million barrels per day in 2021 or 32.813 billion barrels) or 984,405,000 barrels use for asphalt.
So when Biden says..."I want you to look into my eyes, I guarantee We Are Going To Get Rid of Fossil Fuels”...
What do you think happens to the cost of oil used in production of asphalt? What do you think happens to our costs of living? Which AGAIN with SS raising
under the COLA (Cost of Living Adjustment) law SS payments must increase in 2023 8.3%!!!!!
As Friedrich Wilhelm Nietzsche said (in German)...“Der Teufel steckt im Detail”
