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You think full taxing of SS is coming....despite the fact that the SS payroll "contributition" (FICA) is
after tax. IOW, it will be taxed *twice*, once going in and once coming out.(Rayvt)

I suspect it will come, its just a matter of time. But it's not exactly clear to me that were being taxed at all going in.

As Pixy points out half the contributions come from me so I'm being taxed on only half going in. the other half comes from the employer, who DEDUCTS his contribution as a business expense. Different tax rates to be sure, but it looks like a wash. So the IRS does not get all that much benefit from the tax implications. The net result is that the employee gives the taxes to the employer. Not all that bad considering he's paying 50% of the freight.

So maybe it fare that it all be taxed on the way out.

Any taker?

Joe Varga
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