Supposedly, he and his troops drank it after defeating the Prussian army in 1809. Wine Snobs, Thereâs a Beer for You Jordan Salcito April 4, 2014. Prussian militarism was unlovely, to be sure, but the Kaiser was no FÃ¼hrer. The Utterly Pointless First World War Michael F. Bishop May 21, 2013. The whole purpose was to create this idea that there was this Prussian juggernaut.
Officially known as the wage base limit, the threshold changes every year. For 2015, the maximum amount of earnings subject to tax is $118,500. You pay no taxes on any income earned beyond that amount. Next up: Certain religious groups.
However, because employers and employees split this tax down the middle, you'll only lose 6.2% of your paycheck to Social Security taxes; your employer will be responsible for paying the rest. So if you earn $50,000 a year, you'll lose $3,100 of your income to Social Security taxes, and your employer will be responsible for paying an additional $3,100. Now, if you're self-employed, there's some bad news: You're responsible for both the employee and employer portion of the this tax.