We may loose the social security?
Dear Senators Van Hollen, Sanders, Wyden, and Schumer:
This letter is in response to your August 19, 2020 letter
requesting analysis of the implications of hypothetical legislation that would change the tax rate paid by employers, employees, and self-employed individuals to zero percent for the Federal Insurance Contributions Act (FICA) payroll taxes and Self-Employment Contributions Act (SECA) taxes that fund Social Security’s Old Age and Survivors Insurance (OASI) Trust Fund and Disability Insurance (DI) Trust Fund. This hypothetical legislation would apply for all earnings paid on January 1, 2021 and thereafter.
Social Security id not a Retirement Plan…