FINC322- Midterm Exam Guide - Comprehensive Notes for the exam ( 51 pages long!)
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Social security: currently over 52 million americans (1 out of 6 americans) are receiving some kind of benefit from ss. Social security: not just retirement benefits, survivors, disability, health insurance - medicare, old age, survivors, disability, health insurance (oasdhi) 2: single, ,000 - 32, 100,000 16, ,000 8% Ss amounts rise with income to a certain point: married couple. Social security facts: only about 10% of senior citizens live in poverty in the us. Without social security the number would be 50: 2/3rds say social security is their major source of income, for 1/3 social security is their only source of income. Social security funding: from payroll and self employment taxes. Plus your employer matches it (cid:1007) (cid:1008)/(cid:1006)(cid:1009)/(cid:1006)(cid:1004)(cid:1005)(cid:1011) 22: plus 1. 45% on everything above the wage base for medicare, and now for income over ,000 an additional . 9% for medicare.
