Discussion about this post

User's avatar
Wylder's avatar

Yes, that’s correct. For an individual under TPS status to qualify for Social Security benefits, they would need to earn at least $65,600 in covered earnings, and they would contribute 6.2% of their gross wages to Social Security.

Breakdown:

1. Earnings Requirement: They need to earn at least $65,600 to accumulate 40 credits.

2. Contribution Rate: If they are an employee, 6.2% of their gross earnings would be withheld for Social Security. For $65,600, this would amount to approximately:

3. Self-Employment: If they are self-employed, they would pay 12.4% of their net earnings toward Social Security, which is the combined employee and employer contribution.

In summary, yes, contributing 6.2% of $65,600 would be the employee’s share of the FICA tax needed to qualify for Social Security benefits.

Expand full comment
JSev's avatar

have you thought about bringing david kilcullen back on to look back at the russia ukraine scenario predictions?

Expand full comment
2 more comments...

No posts