Jan 20, 2020
For most of us, Social Security taxes are deducted from each of our pay checks, all year long. But in fact, Social Security taxes are only taken out of the first $137,700 of a person’s annual income. If you make more than that, you don’t have to pay Social Security on it.
And about 200 people in the U.S. reached that amount on the first DAY of 2020! Yes, while most of them were still nursing their New Year’s hangovers, these ultra-wealthy people had ALREADY raked in over $137,700 each.
Most of us who work and actually produce wealth won’t see half of that much—all year!