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doesn't pay Social Security taxes?
FALLS CHURCH, Va., Jan. 28
/PRNewswire-USNewswire/ -- The President,
Members of Congress, and Supreme Court
justices do not pay Social Security taxes,
giving them an extra $6,045 a year in
take-home pay, Tax Notes reports in this week's
Under the Social Security
system, working Americans are subject to a
6.2 percent payroll tax on their first
$97,500 of wages. Their employers also pay a
6.2 percent payroll tax on those wages,
making the overall tax 12.4 percent.
Those taxes support the
Old Age, Survivors, and Disability Insurance
portion of Social Security - in essence, the
checks that are distributed to tens of
millions of Americans each month.
But, Tax Notes reports,
our nation's leaders are not subject to that
6.2 percent payroll tax on any of their
"Hey guys," contributing editor Martin A.
Sullivan asks in his article, "how about
pitching in on the Social Security crisis?"